The Latest Urology Devices Industry Statistics Explained
The global urology devices market size was valued at USD 30.4 billion in 2020.
The statistic indicates that in the year 2020, the total market size of urology devices worldwide amounted to USD 30.4 billion. This figure represents the collective value of all urology devices sold and used globally in that specific year. The market size includes a wide range of urology devices such as catheters, endoscopes, stents, and other medical equipment used in the diagnosis and treatment of urological conditions. The value of the market provides insights into the significant demand and investments in urology devices, reflecting the importance of advancements in healthcare technology and the increasing prevalence of urological disorders worldwide.
The urology devices industry is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028.
The statement indicates that the urology devices industry is projected to experience a steady annual growth rate of 7.6% over the period from 2021 to 2028. This Compound Annual Growth Rate (CAGR) serves as a measure of the industry’s performance and reflects the average annual growth rate over the specified time frame, regardless of any fluctuations or variability within individual years. This statistic suggests that the urology devices sector is anticipated to expand significantly over the coming years, indicating potential opportunities for investment, innovation, and market expansion within the industry.
Dialysis equipment segment accounted for the largest market share in 2020, approximately 35.0%.
The statistic indicating that the dialysis equipment segment accounted for the largest market share in 2020, approximately 35.0%, suggests that within the healthcare industry, the market for dialysis equipment was the most significant in terms of revenue or sales during that year. This likely indicates a strong demand for dialysis equipment due to factors such as an increasing prevalence of chronic kidney disease, the rising aging population, and advancements in technology that have improved the effectiveness and accessibility of dialysis treatment. The substantial market share of dialysis equipment reflects the importance and growth potential of the sector within the overall healthcare market.
In 2019, North America was the dominant region in the market accounting for a 46.6% share.
The statistic stating that North America was the dominant region in the market in 2019 with a 46.6% share indicates that the North American market had the largest portion of market activity compared to other regions during that year. This suggests that businesses in North America were likely significant players in the market, potentially leading in terms of sales, production, or overall market influence. This information can be valuable for understanding the market dynamics of the region and making decisions related to investment, strategic partnerships, and market expansion efforts.
The Asia Pacific market is expected to witness the fastest CAGR, an anticipated 8.8% from 2021 to 2028.
This statistic indicates that the Asia Pacific market is projected to experience the highest Compound Annual Growth Rate (CAGR) among all regions, with an expected rate of 8.8% from 2021 to 2028. This suggests a strong and consistent growth trend in the Asia Pacific market over the specified time period. The high CAGR highlights the potential for substantial expansion and opportunity in various industries within the region, attracting investors and businesses seeking growth prospects. Factors such as increasing consumer demand, technological advancements, and favorable economic conditions could be driving this rapid growth, positioning the Asia Pacific market as a key player in the global economy.
The urology surgical instrument market is anticipated to reach USD 11.48 billion by 2025.
This statistic indicates a projected market value for urology surgical instruments, with an estimated value of USD 11.48 billion expected to be reached by the year 2025. This growth forecast suggests a significant increase in demand for urology surgical instruments over the coming years, likely driven by factors such as advancements in medical technology, rising prevalence of urological disorders, and increasing investments in healthcare infrastructure. The anticipated expansion of the urology surgical instrument market to reach USD 11.48 billion by 2025 reflects opportunities for market players, healthcare providers, and customers in this sector to capitalize on the evolving landscape of healthcare services and innovative medical solutions.
North America dominated the urology surgical instruments market accounting for one-third of the total market revenue in 2017.
This statistic indicates that North America held a significant share in the urology surgical instruments market, contributing to approximately 33.3% of the total revenue in 2017. The dominance of North America suggests a strong presence and demand for urology surgical instruments within the region during that year. Factors such as technological advancements, high healthcare expenditure, skilled healthcare professionals, and a growing prevalence of urological disorders are likely to have contributed to North America’s leading position in the market. This statistic highlights the region’s importance as a key player in the global urology surgical instruments market in 2017.
The urinary catheters segment dominated the urology surgical instruments market in 2017, accounting for two-fifths of the total market.
The statistic suggests that in 2017, the urinary catheters segment held the largest share in the urology surgical instruments market, making up 40% of the overall market value. This dominance indicates that urinary catheters were the most widely used and demanded type of urology surgical instrument during that period. The high market share of urinary catheters could be attributed to factors such as the prevalence of conditions requiring catheterization, technological advancements in catheter design and materials, and increasing awareness and acceptance of catheterization procedures among healthcare providers and patients. Overall, this statistic highlights the significant role of urinary catheters in the urology surgical instruments market in 2017.
The urology endoscopes segment is projected to grow at the highest CAGR of 8.1% during the period 2018–2025.
This statistic indicates that the market for urology endoscopes is expected to experience the highest compound annual growth rate (CAGR) of 8.1% between the years 2018 and 2025. This suggests a significant increase in the demand for urology endoscopes over the forecast period, likely driven by factors such as advancements in technology, rising prevalence of urological disorders, and increasing adoption of minimally invasive procedures in urology. The strong projected growth in this segment signals opportunities for manufacturers, healthcare providers, and other stakeholders in the urology endoscopy market to capitalize on the expanding market potential and meet the growing needs of patients requiring urological interventions.
The global market for Urology Devices is projected to reach US$44.4 billion by 2025.
This statistic indicates that the overall market for Urology Devices is expected to grow significantly and reach a value of US$44.4 billion by the year 2025. This projection suggests a robust increase in demand for urology devices, which are medical instruments and tools used in the diagnosis and treatment of urological conditions such as urinary incontinence, kidney stones, and prostate issues. Factors driving this growth may include advancements in medical technology, increasing awareness and diagnosis of urological disorders, as well as a growing aging population that may require more urological care. The projected market value serves as an important indicator of the expanding market opportunity for manufacturers, healthcare providers, and other stakeholders in the urology device industry.
Urological Cancers Devices represents the largest product market while Benign Prostatic Hyperplasia Devices fastest-growing product segment.
This statistic suggests that within the field of urological devices, the market for devices related to treating urological cancers holds the greatest share of sales or revenue. This indicates that there is significant demand for devices designed to diagnose, monitor, or treat urological cancers such as prostate cancer, bladder cancer, kidney cancer, and others. Additionally, the statistic highlights that among the various product segments within the urological devices market, devices aimed at addressing benign prostatic hyperplasia (BPH) are experiencing the fastest rate of growth. This trend suggests that there is a growing need for innovative devices targeting BPH, a non-cancerous enlargement of the prostate gland that can lead to urinary symptoms, indicating potential opportunities for manufacturers and investors in this specific market segment.
The U.S. Market is estimated at $11.2 billion in 2021, while China is forecast to reach $8.5 billion by 2025.
This statistic indicates that the size of the U.S. market in a specific industry was valued at $11.2 billion in 2021, highlighting the significant market presence and economic strength of the United States within that particular sector. Additionally, the forecast for China suggests that its market is expected to grow to $8.5 billion by 2025, indicating a potential rise in market size and market share for China within that same industry. This data underscores the competitive dynamics between these two major economies and the potential shifts in market power that may occur over the coming years.
Pelvic Organ Prolapse (POP) Repair is projected to reach US$567.4 million by the year 2027.
The statistic indicates that the market for Pelvic Organ Prolapse (POP) Repair procedures is expected to grow significantly over the next several years, reaching a value of US$567.4 million by the year 2027. This growth projection suggests an increasing demand for POP repair services, likely driven by factors such as an aging population, higher awareness and diagnosis rates of pelvic organ prolapse, advancements in medical technology, and potentially shifting trends in healthcare utilization. Healthcare providers, manufacturers of medical devices, and other stakeholders in the industry may need to prepare for this growth by ensuring sufficient resources, investments, and capacity to meet the anticipated demand for POP repair treatments.
The global urology device market growth will likely achieve a CAGR of 7% during 2021-2025.
This statistic indicates that the global urology device market is projected to experience significant growth over the period 2021 to 2025, with a Compound Annual Growth Rate (CAGR) of 7%. This means that, on average, the market size for urology devices is expected to increase by 7% each year during this timeframe. The CAGR provides a smooth annual growth rate that reflects the compounding effect over the entire period, giving a clearer picture of the market’s overall expansion. Factors such as technological advancements, increasing prevalence of urological disorders, growing aging population, and rising demand for minimally invasive procedures are likely to be key drivers fueling this growth in the urology device market.
The urology devices market was valued at $4.03 billion in 2017.
The statistic ‘The urology devices market was valued at $4.03 billion in 2017’ represents the total financial worth of devices specifically designed for urological treatments and procedures in the given year. This figure indicates the significant investment and consumption related to urology devices within the healthcare industry. It suggests a high demand for these specialized medical tools, potentially driven by factors such as an increasing prevalence of urological conditions, advancements in technology leading to more effective treatments, and a growing aging population requiring urological care. Furthermore, this statistic serves as a key indicator for market growth and potential opportunities for innovation and development within the urology devices sector.
About 30% of men over 60 have moderate-to-severe urinary incontinence symptoms, driving the urology devices market.
This statistic indicates that a significant proportion, around 30%, of men aged over 60 years experience moderate-to-severe urinary incontinence symptoms, highlighting a prevalent health issue in this demographic. Given the high prevalence of these symptoms, there is a growing demand for urology devices designed to manage and alleviate urinary incontinence, thereby driving growth in the urology devices market. The statistic underscores the importance of addressing this health concern and the necessity for effective solutions to improve the quality of life for affected individuals.
References
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