LONDON--(BUSINESS WIRE)--The global urology devices market is expected to grow at a CAGR of more than 5% from 2018-2022, according to a new market research report by Technavio.
Global urology devices market segmentation by application and end-users
Technavio’s report on the global urology devices market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application which includes kidney failure treatment devices, UI management devices, BPH treatment devices, urolithiasis treatment devices, and other urology devices. As projected in 2017, around 77% of the market share originated from kidney failure treatment devices.
Based on end-users, the global urology devices market is classified into hospitals and clinics, ASCs, dialysis centers, and home care. Hospitals and clinics segment accounted for the largest market share followed by ASCs due to the increased demand for minimally invasive urology surgical procedures. However, home care is expected to witness a faster growth during the forecast period owing to the increased demand for home-care continence care products and home-care dialysis.
As the incidence rates of various urological diseases are increasing worldwide, the demand for urology devices is increasing in the hospitals. Hence, hospitals and clinics are expected to contribute the highest share to the global urology devices market,” says a senior analyst at Technavio for urology devices research.
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Urology devices market: geographical segmentation
The global urology devices market is segmented into the Americas, EMEA, and APAC. The Americas dominate the global urology devices market followed by EMEA and APAC. However, APAC is expected to witness a faster growth rate compared with the Americas and EMEA during the forecast period.
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Some of the other topics covered in the report:
Market driver:
- Increasing prevalence of urological diseases
Market challenge:
- Limitations and risk factors associated with urology devices
Market trend:
- Emergence of innovative technologies
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