Urology Devices Market Size, Share, Growth Analysis, By Product(Instruments [Dialysis Devices(Hemodialysis Devices and Peritoneal Dialysis Devices), Endoscopes (Laparoscopes, Ureteroscopes, Nephroscopes), By Application(Kidney Diseases, Urological Cancer, Pelvic Organ Prolapse, Benign Prostatic Hyperplasia), By End User(Hospitals, ASCS & Clinics, Dialysis Centers, Home Care Settings), By Region - Industry Forecast 2024-2031

Urology Devices Market Drivers

Increasing Incidences of Urologic Conditions 

• One of the vital factors that is increasing the growth of urology devices is the rising prevalence of urologic conditions globally. With the increasing burden of urologic diseases, the demand for urology devices is growing rapidly. As per, the National Institute of Health, urinary tract infections are the most prevalent bacterial infections. This type of infection is impacting almost 150 million people every year globally.  

Growing Geriatric Population 

• Another factor boosting the development of urology device market is the growing geriatric population. The most common conditions witnessed among geriatric patients are urological diseases or disorders. Therefore, this increasing geriatric population is also giving rise to the demand for urology devices. As per WHO, by 2020 almost one in sex people will be aged 60 years or over globally.  

Restraints 

High Expense of Urology Devices 

• The main factor that is restraining the growth of the urology devices market is the high expense of the devices. Urological devices like lasers and lithotripters are immensely costly. The holmium-based laser the lasers are particularly popular for being costly. Furthermore, the disposable section of urology devices like catheters, guide wires, and extract bags are also highly costly. This is one of the reason due to which market players are trying to o introduce new products at cost-efficient prices in the market  

Strict Rules and Regulations 

• One of the major factors that is restricting the growth of urology device market is the strict regulatory policies needed for validation of medical devices. The regulatory bodies like the Medical Device Directive, Europe and the US Food and Drug Administration control the safety and marketing of medical devices. Furthermore, the EU follows the four-class medical device classification scheme to make better scrutinization of the devices.