Urology Devices Market has witnessed a growth from USD 67.68 Billion from 2022 to 2032 with a highest 6.5 % CAGR

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Increasing initiatives and investments in healthcare by the government is a key factor driving market revenue growth

Market Size – USD 35.93 Billion in 2022, Market Growth – at a CAGR of 6.5%, Market Trends - Increasing adoption of minimally invasive surgeries is creating high demand for urology devices”
— Emergen Research

VANCOUER, BC, CANADA, May 25, 2023 /EINPresswire.com/ -- The Global Urology Devices Market research study published by Emergen Research is an extensive collection of insightful information about the  Urology Devices Market industry.The report covers the  Urology Devices Market segmentation along with a detailed outline of the  Urology Devices Market size with regards to volume and valuation. Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report.

The global urology devices market size was USD 35.93 Billion in 2022 and is expected to register a revenue CAGR of 6.5% during the forecast period, according to the latest analysis by Emergen Research. Rising prevalence of urological cancer and nephrological diseases, increasing adoption of minimally invasive surgeries, rising number of initiatives and investments in healthcare by various governments, and technological advancement in urological devices are some of the key factors driving revenue growth of the market.Rising number of initiatives and product approvals in healthcare by government agencies are driving revenue growth of the market. On 6 November 2020 for instance, the FoundationOne Liquid CDx test (Foundation Medicine, Inc.) is a liquid biopsy next-generation sequencing-based test that received approval from the U.S. Food and Drug Administration (FDA) as a companion diagnostic tool for various additional biomarkers found in cell free-DNA isolated from plasma specimens.

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The COVID-19 pandemic has also accelerated the growth of the Urology Devices Market as schools and universities have had to shift to online learning due to social distancing requirements. This has led to a surge in demand for Urology Devices Market solutions and services, especially in remote and underserved areas.

Key players in the Urology Devices Market include Boston Scientific Corporation, Medtronic plc, B.Braun SE, NIPRO, Sun Pharmaceutical Industries Ltd., Siemens Healthcare GmbH, Olympus Corporation, Intuitive Surgical, Laborie, and Zenflow, Inc.

 These companies offer a wide range of online courses and platforms for learners of all ages and backgrounds. Additionally, traditional education providers such as universities and schools are also increasingly incorporating digital technologies into their teaching and learning processes to enhance the learning experience and reach more students.

 Some Key Highlights From the Report :

The biopsy devices segment accounted for largest revenue share in 2022. The system operates by identifying morphological alterations that take place when cancer is present or not. Despite the fact that biopsies are frequently used to diagnose cancer, these biopsy devices can also be used to detect other diseases, including infections and autoimmune and inflammatory disorders.

The endoscopes segment is expected to register fastest revenue CAGR during the forecast period. An endoscopy is a procedure that looks inside the digestive tract to look for tumors, blockages, inflammation, celiac disease, bleeding, ulcers, and ulcerations. It is one of the least damaging medical procedures, carries little risk, and only rarely develops complications. Endoscopy is more accurate than gastrointestinal X-rays at detecting abnormal growths such as cancer.

The market in North America accounted for largest revenue share in 2022 due to presence of leading companies and their agreements with other companies for Research and Development (R&D) of these devices, which is driving revenue growth of the market in this region. On 9 June 2022 for instance, Endoluxe was pleased to announce that it has reached into a multi-year unique distribution agreement with Dornier MedTech for the urology market. Dornier and Endoluxe have urology-focused products and platforms that provide innovation and value.

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The Global Urology Devices Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario. 

Emergen Research has segmented the global urology devices market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)
Dialysis Products
Urology Catheters
Biopsy Devices
Drainage Bags
Robotic System
Laser and Lithotripsy Devices
Other Accessories

Application Outlook (Revenue, USD Billion; 2019-2032)
Urological Cancer
Bladder Disorders
Kidney Disease

End-use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals and Clinics
Dialysis Centers
Ambulatory Surgical Centers

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Global Urology Devices Market has been classified into the subsequent geographical segments:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

The report offers the present scenario and future growth prospects Market in various geographical regions.

The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

The SWOT analysis is conducted along with Porter's Five Force analysis.

The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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