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.
Request Sample Copy of This Market Research @
https://www.millioninsights.com/industry-reports/urology-surgical-instruments-market/request-sample
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.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/urology-surgical-instruments-market
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.
Comments
Post a Comment