Global urology ultrasound devices market to grow at 5.57% CAGR

Global urology ultrasound devices market is expected to grow at a CAGR of 5.57% during the forecast period from 2023 to 2028. The Urology Ultrasound Devices market is expected to witness growth due to the rising prevalence of urological diseases, technological advancements, the outbreak of the Covid-19 pandemic, the rising geriatric population.

Recent developmental activities in the urology ultrasound devices market:

• In September 2021, GE Healthcare acquired BK Medical from Altaris Capital Partners for a cash purchase price of $1.45 billion. BK Medical is a global leader in intraoperative imaging and surgical navigation. BK Medical’s ultrasound technology is used to guide clinicians during minimally invasive and robotic surgeries, and to visualize deep tissue during ultrasound urology procedures as well as neuro- and abdominal surgeries.
• In September 2021, EDAP TMS SA announced that the University of Washington Medicine has acquired the company’s Focal One® high intensity focused ultrasound (HIFU) technology for the precise ablation of prostate tissue.
• In June 2020, Philips launched Lumify in Japan. It is a portable ultrasound system for ultrasound imaging and fluid flow analysis in various applications, including obstetric, cardiac, urology, cephalic, abdominal, and many others.

Urology ultrasound devices overview
Urology ultrasound devices are medical devices that are used to visualize kidney and bladder, or renal areas of the body. It uses high frequency sound waves transmitted through a transducer (probe) to assess kidneys, ureters, and urinary bladder.

Key takeaways from the urology ultrasound devices market report study

• Market size analysis for current market size (2023), and market forecast for 5 years (2023-2028)
• The effect of the Covid-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the urology ultrasound devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global urology ultrasound devices market.
• Various opportunities are available for the other competitor in the Urology Ultrasound Devices Market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for urology ultrasound devices market growth in the coming future?

Global urology ultrasound devices market drivers
The major drivers driving the demand for Urology Ultrasound Devices are the rising prevalence of urological diseases, technological advancements, the outbreak of the Covid-19 pandemic, the rising geriatric population.

Urology ultrasound devices market dynamics
Urology ultrasound devices market has significantly increased due to the rising prevalence of urological diseases like tumors in the abdominal region, urolithiasis, renal treatment, erectile dysfunction, and others. Medical conditions like urolithiasis involve the formation of stones which can be diagnosed using urology ultrasound devices. As per the British Association of Urological Surgeons 2021, Kidney stones are common. Patients of all ages suffer from stones, but the peak age for a first stone is around the age of 45. Moreover, erectile dysfunction (ED) also requires the use of urology ultrasound devices for proper diagnosis and to detect the exact cause behind the disease. As per CDC 2021, ED is common among middle-aged and older men, and almost 30 million people in the United States have it. Thus, the burgeoning cases of urological conditions will contribute to the global urology ultrasound devices market growth.

Covid-19 impact on urology ultrasound devices market
The outbreak of the pandemic led to the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures. This resulted in the reduced number of routine clinical examinations of the urological and renal visits and related procedures. However, vaccine development of Covid-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape which has initiated the process of resumption of regular healthcare services such as outpatients visits and resumption of healthcare services, thereby bringing the demand for products on track in the urology ultrasound devices market.

Urology ultrasound devices market segment analysis

• Urology ultrasound devices market by modality (Non-portable device, portable device),
• Urology ultrasound devices market By product type (Ultrasound systems, accessories),
• Urology ultrasound devices market By application (Tumor ablation, urolithiasis, renal treatment, erectile dysfunction treatment, others),
• Urology ultrasound devices market By end-user (Hospitals & clinics, ambulatory surgical centers, diagnostic centers)
• Urology ultrasound devices market By geography (North America, Europe, Asia-Pacific, and Rest of the World)

Urology ultrasound devices market modality segment
Urology ultrasound devices market modality segment, the Portable Devices market segment will hold the major share of the global urology ultrasound devices market. The large market share of this product segment can be attributed to the growing patient adoption for these devices, quick treatment, mobility, and simplicity. Moreover, Portable Devices are capable of offering assistance in emergency and remote settings. This will increase the acceptance of Urology Ultrasound Devices for patients.

The global urology ultrasound devices market is anticipated to be dominated by North America
North America is expected to dominate the overall urology ultrasound devices market during the forecast period. This domination is due to the rising prevalence of urology diseases such as erectile dysfunction, urinary stones. As per Healthwise Inc., 2019, most men have erection problems now and then. These problems can occur at any age. But they are more common in older men, who often have other health problems.

Urology ultrasound devices market companies
Some of the key global urology ultrasound devices market companies operating in the include General Electric Company (GE Healthcare), ESAOTE SPA, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., BK Medical Holding Company, Inc., Hitachi Medical Systems, Laborie, DRAMIŃSKI S. A., Clarius Mobile Health Corp., AvantSonic Technology Co. Ltd., ProMed Solutions Inc., SIFSOF LLC, Shenzhen Ricso Technology Co. Ltd., Sonoscanner, Chengdu Healson Technology Co. Ltd., Healcerion Co., Ltd., Exact Imaging, ECHO-SON S.A., Xindray Medical International Co., Ltd., KOELIS, Interson Corporation among others. DelveInsight