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'The Global Urology Devices Market Will Be Worth $8.6bn by 2022' Says Visiongain Report
Date:11/5/2012

LONDON, November 5, 2012 /PRNewswire/ --

A new report by Visiongain, a London-based business information provider, predicts that the global market for urology devices will be worth $8.6bn by 2022. The market-generated sales of $4.4bn in 2011. Similar to other markets in the medical device industry, the urology device market remained under pressure in 2011 owing primarily to increased pricing pressures. However, the market was still able to expand, with growth being fuelled by a number of factors, including patient demographics and continued advancements in minimally invasive and non-invasive surgical technologies in the urology field. The market is currently comprised of innovative urology devices for the treatment of a wide range of disorders that include urinary incontinence, prostate cancer, benign prostatic hyperplasia and kidney stones.

Rodrigo Gutierrez Gamboa, healthcare industry analyst, says: "Patient demographics and a strong R&D pipeline will continue to drive growth across all segments of the urology devices market over the forecast period. There will be a sustained influx of innovative and cost-effective urology technologies in the coming years that will continue to offset economic pressures in key regional markets. Pricing pressures have led R&D investments to be primarily focused on developing cost-effective technologies with improved safety profiles and ones that are able to streamline procedures. Over the next decade, innovation will thus be completely focused on the ability to achieve excellent clinical outcomes".
Visiongain's research also suggests that the world urology devices market may benefit from globalisation. There has been a steady rise in healthcare spending and medical insurance cover in countries
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SOURCE Visiongain
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