Urology Ultrasound Devices Market By Modality (Non-Portable Device, Portable Device), By Product Type (Ultrasound Systems, Accessories), By Application (Tumor Ablation, Urolithiasis, Renal Treatment, Erectile Dysfunction Treatment, Others), By End-User (Hospitals & Clinics, Ambulatory Surgical Centers, Diagnostic Centers), By Geography is expected to grow at a steady CAGR forecast till 2026 owing to technological advancements and rising prevalence of urological diseases.
The global Urology Ultrasound Devices Market is expected to grow at a CAGR of 5.57% during the forecast period from 2021 to 2026. 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, and the rising geriatric population.
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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.
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In addition, the integration of advanced technologies is advancing at a great pace. For instance, in May 2021, a new prostate MRI-to-ultrasound registration tool was released by RSIP Vision. The tool is completely automated, and deep learning-based capabilities seek to give a reliable technique for visualizing information on top of an in-op ultrasound picture using a recorded MRI scan of the prostate.
This gives the surgeon precise, real-time information on areas of interest, which are visible primarily on an MRI scan. Such technological advancements in the field of Urology Ultrasound Devices are likely to boost the Global 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 a 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.
However, certain factors like the limited availability of skilled physicians and the preference for refurbished devices may restrict the growth of the Global Urology Ultrasound Devices Market.
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