Boston Scientific’s LithoVue™ Single-Use Digital Flexible Ureteroscope. Retrieved from Boston Scientific.
iData’s analysts work extensively to retrieve data and source both syndicated and custom market research reports. Due to their in-depth understanding of the markets and their first-hand experience with the data, we have asked some insightful questions on the 2022 U.S. urological devices market report, which has yet to be published, to assist you in making better strategic decisions.
WHAT ARE UROLOGICAL DEVICES?
The function of the urinary system is to filter and excrete waste by-products from the blood. It also functions to maintain hemostasis by regulating blood volume and pressure as well as maintaining fluid, acid-base and electrolyte balance. The urinary system comprises kidneys, ureters, urinary bladder and urethra. There are notable differences in the anatomy of the urinary system between males and females, the most apparent of which lies in the urethra. Essentially, urological devices encompass the multitude of devices that treat diseases, infections, and conditions of the urinary system. For example, Benign Prostatic Hyperplasia (BPH) is characterized by an enlarged prostate gland that is non-malignant. There are several ways that this can be treated, one of which being the use of Benign prostate hyperplasia (BPH) treatment devices.
WHICH MARKET SEGMENTS ARE INCLUDED IN THE U.S. UROLOGICAL DEVICES MARKET ANALYSIS?
Overall, the U.S. urological devices market includes:
- Urinary incontinence devices
- Stone management devices
- Benign prostate hyperplasia (BPH) treatment devices
- Urological endoscopes
- Prostate cancer treatment devices
- Urodynamic equipment
- Nephrostomy devices
- Men’s reproductive health devices
WHAT FACTORS ARE DRIVING THE MARKET’S GROWTH?
One of the most recent innovations in the U.S. urological device market was the inception of the single-use flexible ureteroscope market with the launch of Boston Scientific’s LithoVue™ in 2016. Because of the single-use nature of the device, the costly process of reprocessing and sterilization is eliminated. If single-use devices are developed for other urological endoscopes, unit sales could potentially grow exponentially. In addition to this, demographic factors act as a major market driver for the urinary incontinence, BPH, and stone management segments. In that regard, the aging population, combined with longer life expectancies, will help drive the market for urinary incontinence and the subsequent treatments.
WHAT FACTORS ARE LIMITING THE MARKET’S GROWTH?
As the demand of the market continues to undergo consolidation with hospitals acquiring outpatient facilities and expanding the reach of the group purchasing organizations (GPOs), coupled with the reimbursement cuts across the urology space, average selling prices are expected to remain under significant pressure, negatively impacting the future growth of the market. Furthermore, hospitals and other facilities are turning to mobile service providers. This reduces the quantity of units sold of capital equipment, which lowers total market value. Thus, growth in the U.S. urological device market value can only be achieved through raising prices or through sales volumes in the disposables market. This, in turn, hinges on procedure volumes and reimbursement rates.
WHICH COMPANIES ARE COMPETING FOR MARKET SHARE?
Within the U.S. urological device market, Boston Scientific, BARD, and Olympus are the current market leaders. In recent years, Boston Scientific has made significant efforts to become a hospital’s one-stop-shop for all things urology. It has made sizable acquisitions in adjacent markets, strengthening its position. Some notable acquisitions include Augmenix and Galil Medical in the Prostate Cancer Space and Lumenis in the laser treatment space. The billion-dollar purchase of Lumenis in 2019 is expected to propel Boston Scientific not just in urology categories, but in all segments in which a laser is used for treatment.
U.S. UROLOGICAL DEVICES MARKET: FURTHER INSIGHTS
For more information on unit sales, average selling prices (ASPs), competitive analyses, and more click on the button below to request a free executive summary once the U.S. urological devices report is released. Additionally, iData offers Asia-Pacific (Australia, China, Japan) and Latin American (Brazil) report series for urological devices.
