Urology Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Urology Devices Market by Product Type (Dialysis Devices, Endoscopes [Ureteroscopes, Nephroscopes, Resectoscopes, and Others], Urodynamic Systems, Uretral Stents, and Others), End-User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing cases of chronic disorders and the rising product developmental activities across the globe

The urology devices market was valued at USD 9.17 billion in 2023, growing at a CAGR of 6.78% during the forecast period from 2024 to 2030 to reach USD 13.56 billion by 2030. The urology devices market is growing significantly due to the increasing cases of chronic disorders including cancers and benign prostatic hyperplasia (BPH), rising geriatric population prone to such conditions, technological advancements in product development, growing preference of minimally invasive procedures that are expected to escalate the demand for urology devices during the forecast period from 2024 to 2030.

Urology Devices Market Dynamics:

According to the data provided by the Global Cancer Observatory (2024), in 2022, Europe accounted for 473,011 prostate cancer cases, Asia accounted for 386,424 prostate cancer cases, Latin American and the Caribbean (LAC) accounted for 225,985 prostate cancer cases, and Africa accounted for 103,050 prostate cancer cases.

Furthermore, it stated that Asia accounted for 417,357 rectum cancer cases, Europe accounted for 181,701 rectum cancer cases, LAC accounted for 43,036 rectum cancer cases, and Africa accounted for 27,672 rectum cancer cases.

According to the National Institute of Health (2024), the current prevalence of benign prostatic hyperplasia (BPH) is 50% to 60% for people in their 60s, increasing to 80% to 90% of those older than 70 years of age, globally.

Moreover, the World Health Organization (2021) further stated between 2015 and 2050, people falling between 60 years and above will be doubled from 12-22%, and will eventually reach 2.1 billion by the year 2050, globally. Moreover, by 2030, 1 in 6 people will be aged 60 years or above.

The increasing prevalence of prostate cancer, BPH, and rectal cancer, with aging populations, is creating a significant demand for urology devices. As these conditions often lead to urinary complications, the need for advanced treatment options is rising. The global aging trend, with more people reaching older age groups where these conditions are more common, further amplifies the market demand. Innovations in medical technology and a growing focus on improving patient outcomes are also contributing to the expansion of this market, as healthcare systems prioritize effective management of urinary tract obstructions.

Therefore, the factors stated above collectively will drive the overall urology devices market during the forecast period from 2024 to 2030.

However, the disruption of surrounding tissue associated with hematuria and risks of stone fragment retention, among others may limit their end-user base, thus acting as key constraints limiting the growth of the urology devices market.

Urology Devices Market Segment Analysis:

Urology Devices Market by Product Type (Dialysis Devices, Endoscopes [Ureteroscopes, Nephroscopes, Resectoscopes, and Others], Urodynamic Systems, Uretral Stents, and Others), End-User (Hospitals, Specialty Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of urology devices, the dialysis devices category is expected to have a significant revenue share in the year 2023. The rapid growth of this product category can be attributed to the features of the dialysis devices.

Dialysis devices are essential medical equipment used to filter and purify blood for individuals whose kidneys can no longer perform these functions efficiently. The primary feature of dialysis devices is their ability to remove waste products, excess fluids, and toxins from the bloodstream, mimicking the natural functions of the kidneys.

Advanced dialysis machines often include features like remote monitoring capabilities, real-time data collection, and automation of various treatment parameters, enhancing safety and ease of use. Additionally, wearable dialysis devices are being explored to offer patients more freedom and improved quality of life. Applications of dialysis devices extend beyond chronic kidney disease management to include use in acute kidney injury, emergency detoxification for drug overdose cases, and as a bridge to kidney transplant for end-stage renal disease patients.

Therefore, owing to the above-mentioned factors, the demand for the dialysis devices category upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the urology devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall urology devices market:

Among all the regions, North America is expected to dominate the urology devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. This is due to the increasing instance of kidney stones, growing prevalence of prostate cancer underscoring the increased demand for effective management solutions, enhanced by technological advancements, regulatory approvals, and significant market presence of leading companies, continued investment in healthcare infrastructure and innovative product developments that are expected to drive the market for urology devices during the forecast period from 2024 to 2030.

According to the American Urological Association (2024), nearly 1 in 11 individuals in the US experience kidney stone at some point in their lives, and evidence suggests that the incidence of kidney stones is increasing.

According to Globocan (2024), in 2022, the US accounted for 230,125 cases of prostate cancer and Canada accounted for 25,560 cases of prostate cancer. Additionally, it further stated that by 2050, prostate cancer will reach to 346,000 cases in the North American region.

The rising incidence of kidney stones and prostate cancer is driving the demand for urology devices. As more individuals experience these conditions, there is a growing need for effective interventions to manage urinary blockages, making this a rapidly expanding market.

Additionally, in North America and at the global level the US represents the largest market worldwide supported by the developed healthcare infrastructure and strong adoption of technologically advanced products owing to the rise in healthcare expenditure by the government.

Rising product developmental activities by regulatory bodies in the region will further boost the market for urology devices. For example in April 2024, Olympus Corporation announced the FDA 510(k) clearance for its RenaFlex single-use ureteroscope system. RenaFlex offers access and visualization in the urinary tract to diagnose and treat urinary diseases and disorders, such as kidney stones.

Moreover, the presence of key players such as Boston Scientific Corporation, B. Braun Melsungen AG, Cook, among others in the region with their strong distribution networks ensure widespread availability and accessibility of these devices increasing their revenue shares in the market is also a driving factor for the urology devices market as they hold a significant revenue share in the region.

Therefore, the interplay of all the aforementioned factors above would provide a conducive growth environment for the North America region in the urology devices market.

Urology Devices Market key players:

Some of the key market players operating in the Urology Devices market include Olympus Corporation, Baxter, Boston Scientific Corporation, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co.,Ltd, Amecath Medical Technologies, NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation, Advin Urology, DirexGroup, STORZ MEDICAL AG, Richard Wolf GmbH, Fresenius Medical Care, and others.

Recent Developmental Activities in the Urology Devices Market:

• In January 2022, Applaud Medical, Inc received the Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). The Acoustic Enhancer technology is designed to be used in conjunction with Ureteroscopy with Laser Lithotripsy (URS-LL).
• In March 2021, Dornier MedTech GmbH became the world's first integrated urology company to be certified by the European Union's Medical Device Regulation (MDR). Dornier achieved the certification for its Class IIb products: Dornier Delta(R) III, one of the most powerful lithotripters that utilize Dornier's Extracorporeal Shock Wave Lithotripsy (ESWL) technology; and the Dornier UIMS(TM), a state-of-the-art information management software providing enhanced imaging and efficiency to support clinicians in treating kidney stones.
• In January 2021, the US Food and Drug Administration granted the regulatory approval to Quanta Dialysis Technologies Ltd for their product- hemodialysis system SC+. The device is a portable system which is capable of offering dialysis care comparable to full-sized dialysis equipment in a range of care settings.

Key Takeaways from the Urology Devices Market Report Study

• Market size analysis for current urology devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the urology devices market
• Various opportunities available for the other competitors in the urology devices market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current urology devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for urology devices market growth in the coming future?

Target audience who can be benefited from this Urology Devices Market Report Study

• Urology devices product providers
• Research organizations and consulting companies
• Urology devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in urology devices
• Various end-users who want to know more about the urology devices market and the latest developments in the urology devices market

Frequently Asked Questions for the Urology Devices Market:

1. What are Urology Devices?

• The urology devices encompass a variety of devices which are used in the treatment of indications specific to the urogenital systems. These devices include lithotripsy systems, urodynamic devices, and dialysis devices among others.

2. What is the market for Urology Devices?

• The urology devices market was valued at USD 9.17 billion in 2023, growing at a CAGR of 6.78% during the forecast period from 2024 to 2030 to reach USD 13.56 billion by 2030.

3. What are the drivers for the Urology Devices market?

• The urology devices market is growing significantly due to the increasing cases of chronic disorders including cancers and benign prostatic hyperplasia (BPH), rising geriatric population prone to such conditions, technological advancements in product development, growing preference of minimally invasive procedures are factors that are expected to escalate the demand for urology devices during the forecast period from 2024 to 2030.

4. Who are the key players operating in the Urology Devices market?

• Some of the key market players operating in the urology devices market include Olympus Corporation, Baxter, Boston Scientific Corporation, B. Braun Melsungen AG, Nipro Corporation, Medtronic, Cook, BestMedical, Potent Medical, Laborie, Well Lead Medical Co., Ltd, Amecath Medical Technologies, NIKKISO CO., LTD, Asahi Kasei Medical, Applied Medical Resources Corporation, Advin Urology, DirexGroup, STORZ MEDICAL AG, Richard Wolf GmbH, Fresenius Medical Care, and others.

5. Which region has the highest share in the Urology Devices market?

• Among all the regions, North America is estimated to hold a significant revenue share in the urology devices market. This is due to the increasing instances of kidney stones, and growing prevalence of prostate cancer underscoring the increased demand for effective management solutions, enhanced by technological advancements, regulatory approvals, and significant market presence of leading companies, continued investment in healthcare infrastructure, and innovative product developments that are expected to drive the market for urology devices during the forecast period from 2024 to 2030.