The US market for urological devices is experiencing significant growth, with an estimated value of over £3.5 billion in 2023 and projected to reach nearly £5.2 billion by 2030. This represents a compound annual growth rate (CAGR) of 5.7%, according to a comprehensive report by ResearchAndMarkets.com.
The report delves into various segments of the market, including devices for urinary incontinence, stone management, benign prostate hyperplasia (BPH) treatment, urological endoscopes, prostate cancer treatment, urodynamic equipment, nephrostomy devices, men's reproductive health, and urinary guidewires.
Despite ongoing pressure on average selling prices (ASPs) due to factors like hospital acquisitions of outpatient facilities and the growing influence of group purchasing organisations (GPOs), the market is expected to continue its upward trajectory.
One notable example of a device gaining traction is NeoTract's UroLift, a minimally invasive procedure for treating BPH. Since its US debut in 2013, the device has seen rapid adoption, mirroring its popularity in regions like Europe, Canada, and Australia. The procedure's quick recovery time contributes to its appeal. NeoTract's acquisition by Teleflex in 2017 has further bolstered UroLift's market penetration, leveraging Teleflex's extensive sales network. The subsequent launches of the UroLift Advanced Tissue Control (ATC) and UroLift 2 systems aim to enhance patient safety and streamline logistics, building upon the original's proven clinical success.
The report provides detailed data on market trends, including:
Unit sales, average selling prices, market value, and growth trends.
A 10-year forecast.
Market drivers and limitations for each segment.
Competitive analysis with market shares for each segment.
Recent mergers and acquisitions.
Disease overviews and demographic information.
Company profiles, product portfolios, and SWOT analysis for leading competitors.
The report's key findings include:
Market Size: The US urological device market is anticipated to reach £5.2 billion by 2030.
Growth Drivers: Factors driving market growth include an ageing population, increasing prevalence of urological conditions, advancements in minimally invasive procedures, and technological innovations.
Competitive Landscape: The market is dominated by major players like Becton Dickinson, Boston Scientific, Cardinal Health, Coloplast, Cook Medical, Elekta, Ethicon, Karl Storz, Laborie, Medline, Olympus, Siemens Healthineers, and Teleflex.
Key Topics Covered:
Report Insights
Impact of COVID-19 on the US Urological Device Market
Disease Overview
Product Assessment
US Urological Device Market Overview
Procedure Numbers
Urinary Incontinence Device Market
Stone Management Device Market
BPH Treatment Device Market
Urological Endoscope Market
Prostate Cancer Treatment Device Market
Urodynamic Equipment Market
Nephrostomy Device Market
Men's Reproductive Health Market
Urinary Guidewire Market
Companies Featured
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