VANCOUVER, British Columbia--(BUSINESS WIRE)--According to the latest series of reports by iData Research, the United States urological device market is valued at over $2.9 billion, and is expected to reach $3.8 billion by 2025. The total market value includes multiple segments, such as urinary incontinence devices, stone management devices, benign prostate hyperplasia (BPH) treatment devices, urological endoscopes, prostate cancer treatment devices, urodynamic equipment, nephrostomy devices and erectile dysfunction devices.
The U.S. urology market is largely driven by the aging population. The majority of stone management procedures, urinary incontinence incidence and BPH incidence are prevalent in patients over the age of 45, a steadily growing demographic. However, each area is also governed by different market dynamics that affect the level of growth exhibited by each procedure type.
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The largest segment of the U.S. urological device market is the urinary incontinence market. Growth of this segment is primarily driven by the urinary catheter market, due to the high-volume use of urinary catheters. The incidence of urinary incontinence generally increases with age. As a result, urinary incontinence statistics show the volume of treatments increasing along with the aging population and rising life expectancy. In the elderly, urinary incontinence may result from a confluence of factors, including comorbid conditions, medications, and neuro-urinary pathology, among others.
“In addition, the benign prostate hyperplasia (BPH) treatment market is the fastest growing in the urology market, with a CAGR reaching over 9%. This growth is primarily being driven by two new innovative products, UroLift and Rezūm, which are continuing to cannibalize other, more established treatments, such as laser systems and transurethral resection of the prostate (TURP),” explains Jeffrey Wong, Analyst Director at iData Research.
Boston Scientific is the leading competitor in the urological device market. The company held the leading positions in the stone management device market, BPH treatment device market and erectile dysfunction market. Although a few years old now, Boston Scientific’s most recent innovation was the inception of the single-use flexible ureteroscope, with the launch of LithoVue™ in 2016.
Following Boston Scientific, BARD was the second-leading competitor. The company held the leading position in the urinary incontinence device market, solely attributed to its dominant position in the urinary catheter market. BARD also held notable positions in the stone management device market, prostate cancer device market and nephrostomy device market.
For Further Market Information
More can be found in a series of reports published by iData Research entitled the US Market Report Suite for Urological Devices– MedSuite.
iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.