The Shift to Minimally Invasive Procedures – a Driving Force of the U.S. Urology Market
iData’s analysts work extensively to retrieve data and source both syndicated and custom market research reports. Owing to their in-depth understanding of the markets and first-hand experience with the appropriate data, our analysts have noted the key market drivers within the U.S. Urology Market for 2022-2028. With this exclusive insight of our new U.S. Urology report, we aim to provide insight as to the procedure choices of U.S. patients, and why this affects the strategic decision making of our clients.
What is Urology? Who is Affected?
Urology is a segment of the healthcare system that handles diseases of the urinary tract, including kidneys, ureters, bladder, urethra, and the sex organs of males. Urological devices assist with treatments for:
- Urinary Incontinence
- Stone Management
- BPH (benign prostatic hyperplasia)
- Prostate Cancer
- Men’s Reproductive Health
- and more…
The majority of the demographic requiring urology devices are men and women over the age of 45 in the segments of stone management, BPH, and urinary incontinence. With urological complications being prevalent in this baby boom population, we expect to see a steady growth of market value as the demographic continues to age.
The Shift to Minimally Invasive Procedures in the U.S. Urological Device Market
As urological device innovations continue to act as a driving force in the market since its inception, the need for minimally invasive urology procedures follow the overall focus on patients’ quality of life. As the healing process can be fickle for the aging population of which the U.S. urology market relies on, patients tend to choose their treatments based on their comfort despite the high asking price. This pattern of minimally invasive treatment choice has been heavily observed across the U.S. Urological Device Market; key developments in treatment methods have dramatically increased patient safety whilst reducing bleeding, retreatment rates and recovery time. Further, these innovative procedures are often performed efficiently and allow for a shorter recovery time and therefore decrease in the number of patients requiring extensive hospital stays.
MARKET RECAP AND FURTHER INSIGHTS
Overall, with these market drivers being definitive in the U.S. Urology Market, the market demand will continue to grow and is expected to increase over the forecasted period of 2022-2028 at a CAGR of 3.4%, reaching $5 billion by 2028. Companies holding leading shares within each segment are expected to improve their market shares through an ongoing network of innovation and requirement of urological procedures. For more information on the Urology Market in the U.S., including unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more, follow this link to receive a free research summary of this report.