[FURL=https://www.industryarc.com/Report/16788/urology-devices-market.html]Urology Devices Market[/FURL] Size in 2019 is estimated to be $35.6 billion, growing at a CAGR of 6.5% during the forecast period 2020-2025. Urology is the branch of medicine that focuses on the diseases of female urinary system and the male reproductive organs. The organs under the domain of urology include the kidneys, adrenal glands, ureters, urinary bladder, urethra, and the male reproductive organs. Urological devices as are used in the treatment of urinary tract diseases. Also, Laparoscopy procedures are performed using urology devices for the diagnosis and treatment of abdomen related medical issues. High incidence of urologic conditions and technological advancement are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for urology devices during the forecast period 2020-2025.Key Takeaways
In 2019, North America dominates the Urological Devices Market owing to growing preference for minimally invasive surgeries, and the rising number of hospitals and demand for quality medical care.
High incidence of urologic conditions and technological advancement is driving the market growth of urology devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Urology Devices Market report.
High cost of urology devices is challenging the growth of the market.
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Urology Devices Market Segment Analysis - By Geography
North America dominated the Market share accounting for 45% of the market in 2019. This is mainly owing to growing preference for minimally invasive surgeries, and the rising number of hospitals and demand for quality medical care. According to American Urological Association Foundation (AUAF), more than 661,000 people are suffering from kidney failure and 468,000 patients are given dialysis which are contributing the major share of this region.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing disposable income and increasing healthcare expenditure.
Urological Devices Market Drivers
High Incidence of Urologic Conditions
Technological Advancement
Urology Devices Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Urology Devices Market. Urology Devices top 10 companies are Medtronic, Siemens, Abbott, GENERAL ELECTRIC, BD, Stryker, Boston Scientific Corporation, Cardinal Health, Intuitive Surgical, Cook, Olympus Corporation, Johnson & Johnson Services Inc., and Fresenius Medical Care AG & Co. KGaA.
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