(PharmaNewsWire.Com, July 28, 2020 ) According to a new market research report " Urology Surgical Instruments Market by Product (Endoscopes, Endovision Systems, Peripheral Instruments, Consumables and Accessories), Application (Chronic Kidney Diseases, Benign Prostatic Hyperplasia, Oncology) - Global Forecast to 2021", published by MarketsandMarkets, This report studies the global urology surgical instruments market for the forecast period of 2016 to 2021. This market is expected to reach USD 11.48 Billion by 2021 from USD 7.74 Billion in 2016, at a CAGR of 8.2%.
Browse 132 market data Tables and 53 Figures spread through 201 Pages and in-depth TOC on "Urology Surgical Instruments Market".
A number of factors such as rising prevalence of kidney diseases and urinary tract infections; rising number of hospitals and growing hospital investments in surgical infrastructure; availability of investments, funds, and grants from government bodies; and rising geriatric population are expected to drive the growth of the urology surgical instruments market during the forecast period.
Urological Surgical Products Segment:
Based on product, the urology surgical instruments market is categorized into urology endoscopes, endovision systems, peripheral instruments, and consumables and accessories. The consumables and accessories segment is expected to account for the largest share of the urology surgical instruments market in 2016, and is also expected to grow at the highest CAGR during the forecast period.
The large share and high growth of this segment can be attributed to factors such as increasing surgical intervention for urology conditions, advancements in minimally invasive surgeries, increasing prevalence of chronic kidney disorders that can lead to increase in kidney transplants, increase in awareness of urology conditions at early stages, and rising geriatric population.
Applications of Urology Surgical Instruments Market:
Based on application, the urology surgical instruments market is segmented into chronic kidney disease (CKD), urinary stones, benign prostatic hyperplasia (BPH), urinary incontinence (UI) and pelvic organ prolapse (POP), oncology, and other applications (erectile dysfunction and hernia). The chronic kidney disease segment is expected to account for the largest share of the market in 2016; while, the urinary incontinence and pelvic organ prolapse segment is projected to grow at the highest CAGR in the forecast period. The high growth of this segment can be attributed to the increasing awareness of the condition and rising prevalence of urinary incontinence.
Regional Growth Analysis of Global Market:
Geographically, the global urology surgical instruments market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa). North America is expected to account for the largest share of the urology surgical instruments market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period (2016-2021), and serves as a revenue pocket for companies offering urology surgical instruments.
Prominent players in the global urology surgical instruments market include Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Coloplast A/S (Denmark), Cook Medical Inc. (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Teleflex incorporated (U.S.), Stryker Corporation (U.S.), CooperSurgical, Inc. (U.S.), and ConMed Corporation (U.S.).
Expansions, new product launches, marketing and promotional activities, acquisitions, agreements/collaborations/contracts/partnerships, and other strategies (market development, app launches, and product enhancement) are major strategies adopted by players to achieve growth in the urology surgical instruments market.
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