The analysts forecast global urology devices market to grow at a CAGR of 5.08 % during the period 2018-2022. The latest trend gaining momentum in the market is emergence of innovative technologies.
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Continuous improvement in technology led to the development of urology devices with superior quality and safety.
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For instance, in October 2015, Boston Scientific launched LithoVue, first single-use digital flexible ureteroscope developed to access the upper urinary tract for diagnosing and treating kidney stones, and other kidney, ureter, and bladder conditions. This device can reduce the risk of possible contamination and bypass the loss of deflection with repeated use of reusable flexible ureteroscopes.
NeoTract (acquired by Teleflex) introduced UroLift system, a novel minimally invasive treatment for BPH. UroLift system is the first and only treatment option for BPH, which does not remove prostate tissue and does not have a negative impact on a man’s sexual function.
Major key players in the global urology devices market: Baxter, B. Braun Melsungen, Boston Scientific, C.
R. Bard, Fresenius Medical Care, and Olympus Corporation.
According to the urology devices market report, one of the major drivers for this market is Increasing prevalence of urological diseases. As of 2015, 100 in every 1,000 individuals worldwide were affected by CKD.
The CKD may get worse over time and lead to kidney failure or ESRD. Globally, it is estimated that more than two million ESRD patients receive renal replacement therapy (RRT) regularly in the form of dialysis.
According to the Centers for Disease Control and Prevention (CDC) report in 2017, approximately 30 million individuals, which accounted for 15% of the US adults, were affected by CKD. In 2014, around 118,000 individuals in the US started taking treatment for ESRD and 662,000 were living with a kidney transplant.
Men are 64% more likely to develop ESRD when compared with women.
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Further, the urology devices market report states that one of the major factors hindering the growth of this market is Limitations and risk factors associated with urology devices. Ureteroscopes are semi-critical devices because of their contact with the individual’s mucous membranes.
The contact of devices with mucous membrane increases the risk of infections. Hence, the reuse of ureteroscopes can lead to transmission of infection if they are not sterilized adequately with high-level disinfectants.
The cleaning and sterilization process of flexible ureteroscopes can also cause damage to them. Hence, devices often require repair and replacement which is associated with considerable costs.
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Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?