Progress in Narrow Band Imaging Technology Likely to Boost Market Growth

Technological advancements continue to play an essential role in the healthcare industry. At present, urologists are increasingly relying on newer technologies to offer safe and effective treatments. Advancements in technology have paved the way for minimally invasive procedures and robots in the healthcare sector. Moreover, imaging in the medical field has improved at a considerable pace primarily driven by innovations and progress in technology. Moreover, focus on research and development is expected to generate significant interest in nanotechnology and tissue engineering marking the start of a new era in the field of urology. Urology imaging equipment and diagnostics continue to evolve at an impressive rate and the uptake of the same is also witnessing substantial growth.

Over the past few years, narrow-band imaging in endoscopy to improve mucosal detail has gained a significant amount of popularity due to a range of factors. In comparison with the existing white-light cystoscopy, the improved ability of narrow-band imaging in the detection of cancerous tissues is a major factor that is projected to increase the prospects of the urology imaging equipment market during the forecast period. Furthermore, the growing adoption of magnetic resonance imaging (MRI) due to progress in nanotechnology will also augment the urology imaging equipment market, which is expected to attain a market value of ~US$ 1.9 Bn by the end of 2027. The launch of state-of-the-art urology imaging equipment, particularly in developed regions including North America and Europe is expected to increase the adoption of urology imaging equipment in the coming years.

urology imaging equipment market infographic
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Progress in Nanotechnology to Offer Growth Opportunities

With significant rise in the number of chronic kidney diseases, tissue regeneration is expected to gain a notable amount of traction in the coming years. Healthcare experts and researchers are focusing on improving the potential of stem-cell therapies in the urological field by negotiating various challenges, including epigenetic changes and immune reactions. Participants in the current urology imaging equipment market are also expected to explore the potential of nanotechnology in targeted therapies. Studies have revealed that nanoparticles have the ability to improve the chemotherapeutic action of apoptosis in prostate cancer cells. In addition, the uptake of nanoparticles in gene therapy is on the rise, as they are safer and efficient than the other vector alternatives. Apart from targeted therapies, nanotechnology is anticipated to play a major role in the development of next-generation urological imaging equipment. Moreover, nanotechnology has also played a key role in improving MRI scanning– a factor that is expected to boost the growth of the urology imaging equipment market in the upcoming years.

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At present, with nanotechnology hovering around the urology imaging equipment market, training of modern-day urologists is imperative. Progress in computing capacity and interactivity will boost the prospects of the urology imaging equipment market during the forecast period.

Over the next few years, urological technology is expected to advance at a steady pace due to which, the growth of the urology imaging equipment market is expected. Participants in the current market landscape are projected to focus on improving the efficiency of urology imaging equipment.

Companies Launch New Urology Imaging Equipment to Gain Competitive Edge

Companies involved in the current urology imaging equipment market are expected to leverage the benefits of new technologies to develop cutting-edge urology imaging systems. The flurry of new urology imaging systems in the upcoming years will continue to drive the market growth. For instance, in 2018, Siemens Healthineers launched the Acuson Sequoia, an advanced ultrasound system to overcome the existing challenges in ultrasound imaging. Additionally, Guerbet launched the L-F Hydra Vision TM Digital Urological Imaging Equipment, which aims to enhance the efficiency of urological imaging and organize workflows. Companies are likely to align their product development strategies in accordance with evolving requirements of modern-day diagnostic imaging. During the forecast period, fluoroscopy imaging systems, endovision systems, and ultrasound systems are likely to gain considerable popularity.

urology imaging equipment market segmentation

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Analysts’ Viewpoint

The global urology imaging equipment market is expected to grow at a CAGR of 4% during the forecast period. Some of the leading factors that will contribute to market growth include advancements in medical imaging technologies, progress in computing capacity, advent of nanotechnology in urology, and growing demand for minimally invasive procedures. The adoption of multimodality imaging technologies will continue to grow in the coming years, due to which the demand for urology imaging equipment is projected to rise. Companies in the urology imaging equipment market should focus on launching new imaging systems with improved efficiency and capabilities to gain an edge over their competitors.  

Urology Imaging Equipment Market: Overview

  • According to Transparency Market Research’s latest market report on the global urology imaging equipment market for the historical period (2017–2018) and forecast period (2019–2027), inclination toward minimally invasive procedures and increase in demand for early diagnosis are projected to boost the growth of the global urology imaging equipment market during the forecast period. Moreover, adoption of multimodality imaging technologies is anticipated to drive the global urology imaging equipment market.
  • According to the report, the global urology imaging equipment market was valued at US$ 1.3 Bn in 2018 and is expected to expand at a CAGR of 4% from 2019 to 2027

Rise in Prevalence of Urology Diseases: Key Drivers

  • Changing lifestyles, rapidly aging population, and rise in prevalence of diabetes and hypertension contribute to increase in prevalence of renal diseases. A research published by NCBI indicated that the global prevalence of chronic kidney diseases was 13.4% in 2016, and is higher in developed regions of the world.
  • Rise in prevalence of kidney stone, owing to poor dietary habits is likely to fuel the growth of the global urology imaging equipment market. According to the Southern Cross, 10% to 15% of the population of New Zealand is likely to be affected by kidney stones at least once in their lifetime.
  • According to an article published in the International Journal of Current Microbiology and Applied Sciences, globally, nearly 150 million people are diagnosed with UTI each year
  • Furthermore, increase in demand for minimally invasive surgeries is anticipated to drive the global urology imaging equipment market. For instance, an article published in BJUI International stated that open stone surgery continued to decline in 2014–2015 due to increase in use of ureteroscope for the treatment of stone diseases.
  • Moreover, computer-aided digital technology provides an opportunity to obtain real-time 3D visualization of the surgical target. Hence, rapid changes in technologies are likely to drive preference for minimally invasive surgeries.
  • Urology imaging has had a major impact on diagnosis and treatment of urological diseases in the last few decades. Advances in imaging have led to change in diagnosis and management of urological diseases.
  • Ultrasound technique is the initial choice of examination for urological diseases and the use of ultrasound has increased in the last few decades
  • Hence, rise in demand for early diagnosis, owing to technological advancements is likely to fuel the growth of the global urology imaging equipment market

Adoption of Multimodality Imaging Technologies

  • Multimodality integrated technologies play a vital role in diagnosis and treatment of various urological diseases by improving the ability of clinicians to perform screening, surveillance, staging, prognosis, planning & therapy guidance, monitoring therapy efficacy, and assessing recurrence. The integrated technologies comprise two or more detection technologies to form a new way of imaging, which helps to provide convenient information gain in treatment, monitoring, and diagnosis.
  • Development of multimodality integration technology was a major breakthrough in medical imaging. Hence, adoption of multimodality integration technologies is anticipated to propel the global urology imaging equipment market.

Product Recall and High Cost to Restrain Urology Imaging Equipment Market

  • Product recalls by Food and Drug Administration have negative impact on product sales
  • Product recalls affect the brand image and market share of companies manufacturing these devices. Hence, this factor is likely to restrain the global urology imaging equipment market.
  • High cost is a major factor influencing the selection of treatment. Cost of device depends on the features. High cost of devices is likely to hamper the growth of the global urology imaging market.

Urology Imaging Equipment Market: Competition Landscape

  • This report profiles major players in the global urology imaging equipment market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global urology imaging equipment market is moderately fragmented with presence of a small number of large players in international markets and large number of small players in regional markets. Top four to five players hold majority share of the global urology imaging equipment market. Prominent players operating in the global urology imaging equipment market include
    • Stryker
    • Olympus Corporation
    • Guerbet
    • GE Healthcare (General Electric Company)
    • KARL STORZ
    • Siemens Healthineers
    • Richard Wolf GmbH
    • CANON MEDICAL SYSTEMS CORPORATION
    • Koninklijke Philips N.V.
    • Boston Scientific Corporation.

Urology Imaging Equipment Market: Key Developments

  • Leading players in the global urology imaging equipment market are engaged in the development and approval of new products, merger & acquisitions, and collaboration. Strategies adopted by key players are likely to boost the growth of the global urology imaging equipment market. Strategies adopted by the players in the global urology imaging equipment market are:
    •  In March 2019, Stryker introduced a new visualization platform. This enabled the company to provide optimal and customized surgical care to patients. The 1688 AIM 4K Platform has been approved for various applications including urology.
    • In May 2018, Guerbet announced the launch of L-F Hydra Vision Digital Imaging System
  • The report on the global urology imaging equipment market discusses individual strategies, followed by company profiles of manufacturers of urology imaging equipment. The competitive landscape section is included in the urology imaging equipment market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global cardio urology imaging equipment market.

Urology Imaging Equipment Market - Scope of the Report

TMR’s report on the global urology imaging equipment market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2019 to 2027. The report provides the revenue of the global urology imaging equipment market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global urology imaging equipment market during the forecast period.

The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global urology imaging equipment market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global urology imaging equipment market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report sheds light on changing competitive dynamics in the global urology imaging equipment market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global urology imaging equipment market.

The report delves into the competitive landscape of the global urology imaging equipment market. Key players operating in the global urology imaging equipment market are identified, and each one of these is profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global urology imaging equipment market that have been profiled in this report. 

Key Questions Answered in Urology Imaging Equipment Market Report

  • What is the scope of growth of product companies in the global urology imaging equipment market?
  • What will be the Y-o-Y growth of the global urology imaging equipment market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global urology imaging equipment market?
  • Will North America continue to be the most profitable regional market for urology imaging equipment providers?
  • Which factors will hamper the growth of the global urology imaging equipment market during the forecast period?
  • Which are the leading companies in the global urology imaging equipment market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the global urology imaging equipment market, and arrive at conclusions on the growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global urology imaging equipment market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the global urology imaging equipment market as primary sources.

These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from the urology imaging equipment market leaders. Access to extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global urology imaging equipment market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on growth prospects of the global urology imaging equipment market more reliably and accurately.

Urology Imaging Equipment Market – Segmentation

Product

Endovision Systems

X-ray/Fluoroscopy Imaging Systems

Urology Operating Tables

Ultrasound Systems

Others

Application

Diagnostics

Interventional

End User

Hospitals

Ambulatory Surgical Centers

Specialty Clinics

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Urology Imaging Equipment Market

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