Medi-Tech Insights: Shift to minimally-invasive procedures; growing prevalence of bladder cancer, kidney stones, and other bladder disorders; technological advancements in urology and pelvic health devices; and investments in research activities for new product development by leading market players are some of the major factors driving the global urology and pelvic health market.
Global Urology and Pelvic Health Market (2022-2027)
BRUSSELS, BELGIUM, Jan. 17, 2023 (GLOBE NEWSWIRE) --
Urology and pelvic health is a medical and surgical specialty involving disorders of the genitourinary tract and the adrenal glands. Urologists addresses the conditions affecting kidneys, ureters, bladder, and urethra in both men and women. The global urology and pelvic health market is segmented on the basis of product, application, and end-user.
Technological Advancements in Urology and Pelvic Health Market to Trigger its Global Demand
Consistent advancements in the urology and pelvic health market have enabled to develop efficient products with advanced capabilities such as minimally invasive approach, rapid recovery, and reduced infections. Major players have recently launched technologically advanced products to expand their geographic and strengthen their positions in the global urology and pelvic health market. Some of the technological advancements are listed as below:
In November 2022, Teleflex launched its UroLift System in India, a minimally invasive approach for the treatment of benign prostatic hyperplasia (BPH) or prostate enlargement providing a rapid symptomatic relief for men allowing quick recovery.
In November 2022, Coloplast launched SpeediCath Flex Set, a new catheter in the US market, featuring a triple action coating technology specifically designed to reduce the risk of Urinary Tract Infections (UTIs) and urethral damage.
In September 2022, Olympus Corporation launched its VISERA ELITE III Surgical Visualization Platform that support imaging functions and minimally invasive therapies, to address the needs of healthcare professionals for endoscopic procedures including urology.
Investments by Market Players in Urology and Pelvic Health Market to drive the Product Development
Leading market players operating in the global urology and pelvic health market are constantly focusing on investments and collaborations for advancing new product development. These investments are targeted at boosting the technological capability of companies aiming at new product development which offers significant gains to the company and its end users. Such advancements tend to provide a competitive edge to all manufacturers. Some of the recent developments are listed as below-
In December 2022, Minze Health, a Belgium-based digital health company raised US$ 4.2 million (€ 3.9 million) from White Fund, Capricorn Partners, and PMV; to further scale its digital health solutions aimed at treating urinary tract problems.
In April 2022, Cosm, a Canada-based start-up raised US$ 3.8 million (CAD 4.7 million) to advance its digital gynecology platform, a software-enabled medical device platform aimed at treating pelvic floor disorders.
In September 2021, Boston Scientific Corporation acquired the global surgical business of Lumenis LTD. This acquisition was aimed at integrating the Lumenis laser portfolio with Boston Scientific’s kidney stone management and benign prostatic hyperplasia offerings.
North America is expected to hold a Major Share in the Urology and Pelvic Health Market
From a geographical perspective, North America holds a major market share of the urology and pelvic health market. This can be mainly attributed to the investments made by hospitals to procure advanced urology and pelvic health devices, favorable reimbursement policies and developed healthcare infrastructures.
For instance, in December 2021, Vizient Inc. and Ambu Inc. (manufacturer of single-use endoscopes) entered in a contract to offer Vizient members a pre-negotiated pricing for Ambu’s single-use products in bronchoscopy, urology, ENT and GI.
Some of the major restraints to the urology and pelvic health market growth includes high cost of advanced urology and pelvic health devices, unfavorable reimbursement scenario, and lack of experienced technicians. Irrespective of these issues, the urology and pelvic health market is expected to grow at a steady rate due to increased focus of market players on new product development with advanced capabilities. Substantial advancements in terms of minimally-invasive approach, reduction in subsequent infections, and high incidence of kidney diseases, among others, are expected to further drive the market growth.
Competitive Landscape Analysis: Urology and Pelvic Health Market
The global urology and pelvic health market is marked by the presence of established and emerging market players such as below: -
Boston Scientific Corporation (US)
Medtronic plc (Ireland)
Coloplast (Denmark); B. Braun Melsungen AG (Germany)
ConvaTec Group (UK)
Hollister Incorporated (US)
Teleflex Inc. (US)
Stryker Corporation (US)
Ethicon (US). among others
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