The Global Urology Surgical Instruments Market research report interprets definition, an investigation of significant progress in the industry. It provides overall industry survey, product description, wide array of applications, top players, and development forecast. It enhances understanding about that market along with new business trends.
The Urology Surgical Instruments Market report discusses the primary
industry growth drivers and challenges that the vendors and the market as a
whole face and provides an overview of the key trends emerging in the market.
It also talks about the market size of different segments and their growth
aspects along with key leading countries in Americas, Asia-Pacific, Europe, the
Middle East, and Africa regions.
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Global Urology Surgical Instruments Market size is
expected to reach USD 14.12 billion by 2025. Urology surgeries are associated
with the treatment of urologic disease or dysfunction of female and male
urinary tract. These surgeries also known as “genitourinary surgery”. Urologic
disease or dysfunction in male include kidney stones, bladder control dysfunction,
nephrectomy, prostate disorders, ureteral reimplants, pyeloplasty, and urinary
retention. The market is expected to grow at a 7.9% CAGR in the forecast
period.
In these surgeries, some products are used such as
endoscopes, endovision systems, peripheral systems, consumables &
accessories, forceps, cystoscope bridge, resectoscope electrodes, channel
deflector, urethrotome and others. The “consumables & accessories” segment
is anticipated to grow at a high CAGR in the upcoming period due to repeated
usage of these products and their disposable nature. In addition, rise in
number of urology procedures is expected to boost the demand for these products
in the next couple of years.
Consumables and accessories are further classified into
stone baskets/retrieval devices & extractors, stents, fluid flushing
devices, drainage bags, needle forceps & needle holders, biopsy devices,
clamps, distal attachments, connecting tubes, catheters, overtubes, guidewires,
dilator sets & ureteral access sheaths, surgical dissectors and others.
Application such as chronic kidney diseases (CKD), urinary stones, benign
prostatic hyperplasia (BPH), oncology, urinary incontinence (UI) & pelvic
organ prolapse (POP) and other. The “chronic kidney diseases” segment is
expected to hold the large market share in the upcoming period due to rising
incidence of CKD, growing number of clinical trials for new non-invasive
procedures to treat these diseases and increasing initiatives by governments
globally. However, the “urinary incontinence & pelvic organ prolapse”
segment is anticipated to grow at the higher CAGR in the coming years owing to
significantly increasing number of surgical procedures for urinary incontinence,
advancing technologies, growing awareness about incontinence and rising
adoption of these products for managing incontinence.
The factors that play an important role in the growth of
market include increasing demand, growing geriatric population, increasing
urbanization & industrialization, rising preference for minimally invasive
surgeries, increasing prevalence of urinary disorders, surging R&D
investments, growing healthcare industry, ongoing product launches by
manufactures, and technological advancements. Moreover, rising number of
hospitals, growing hospital investments in surgical infrastructure and
availability of funds, investments & grants from government are expected to
drive the market growth in the coming years.
However, increasing cost of urology endoscope &
laparoscopic endovision system, high risk of complications associated with
surgical procedures in geriatric patients and the other high pricing are
negatively impacting the growth of urology surgical instruments industry. The
Urology Surgical Instruments market is widely analyzed based on different
regional factors such as gross domestic product (GDP), demographics,
acceptance, inflation rate and others. The market is categorized based on
product type, application, distribution channel and geography.
North America has been at the forefront with regards to
urology surgical instruments market and will continue to rule the roost in the
years to come. The increasing urology equipment purchases by hospitals, rising
incidences of urology cancers & disorders, rise in number of urologists,
increasing healthcare spending on urology disorders and positive reimbursement
scenario are the factors likely to boost the Urology Surgical Instruments
market growth in this region.
On the other hand, Asia Pacific is anticipated to grow at
a high CAGR in the next couple of years owing to growing geriatric population,
increasing healthcare expenditure for urology by governments, rapidly growing
healthcare industry, improving healthcare infrastructure in India & China
and stringent regulatory policies. Also, presence of large number of public
& private hospitals in Australia, China, Malaysia, Japan, India, New
Zealand, Singapore and Indonesia are purchasing new urology equipment to meet
increasing demand for urology procedures.
The key players contributing to the robust development of
the urology surgical instruments industry include Olympus Corporation, Richard
Wolf GmbH, Coloplast Group, Cook Medical Inc., KARL STORZ GmbH & Co. KG,
Medtronic plc, Boston Scientific Corporation, Stryker, Teleflex Incorporated,
Stryker Corporation, ConMed Corporation and CooperSurgical Inc. The major
market players are focusing on inorganic growth to sustain themselves amidst
fierce competition. As such, mergers, acquisitions, and joint ventures are the
need of the hour.
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