The global urological devices market is forecast to reach USD 62.76 Billion by 2027, according to a new report by Reports and Data. The urological devices are all the equipment involved in the urological operations, diagnosis, treatment, analysis, testing, and others. Kidney diseases, bladder prolapse, urinary tract infections, erectile dysfunction, prostatitis, urologic oncology, and pediatric urology, to name a few, are some of the most common urological diseases that require the urological devices in the treatment system. Rising incidences of geriatric and pediatric urological disorders are few growing diseases that incorporate the urological devices in the procedures and treatments. Improving healthcare facilities in the developing regions are effectively helping in the market growth. An increased awareness about healthcare & wellness, changing urological disease patterns, government supports, and escalating volumes of urological healthcare services is expected to take part in the rapid growth of this market.
The North American market is forecasted to generate the highest revenue of USD 22.15 Billion in the year 2027, owing to its extensive demand for urology devices in the hospitals and ambulatory surgery centers. Asia Pacific, with its elevated growth in the healthcare industry and escalating volumes of urological patients in China, India, and Japan, is likely to achieve a significant market share. China and India are some of the fastest-growing markets, while the United States and Germany hold some of the most prominent players in the market.
Top Companies Profiled in the Report Include:
Fresenius Medical Care AG & KGaA, Boston Scientific Corporation, Baxter International Inc., Richard Wolf, Karl Storz SE & Co. KG, Medtronic PLC, Cook Medical Incorporated, Olympus Corporation, C. R. Bard, Inc., and Siemens AG.
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Urological Devices market in these key regions.