Global Urology Surgical Instruments Market is expected to reach USD 15.04 billion by 2025, from USD 8.4 billion in 2017 growing at a CAGR of 8% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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The urology surgical instruments are the devices used in different type of urological surgery such as laparoscopic, endoscope, urethroplasty other functions and disorders of the urinary system. Urology surgical instruments includes clamps – vascular, circumcision, kidney pedicle, urethral bougies, retractors, forceps etc. Some of the major players operating in global urology surgical instruments market are
- 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)
Other: Teleflex incorporated (U.S.), Stryker Corporation (U.S.), CooperSurgical, Inc. (U.S.), ConMed Corporation (U.S.), Millennium Surgical Corp (U.S.), Maxer Medizintechnik GmbH (Germany).
According to World Health Organization (WHO), antibiotic resistance of bacteria has reached dread levels leading to large number of individuals with urinary-tract infections. The increasing number of cases with urinary tract infection (UTI) in women will fuel the market growth.
Nowadays growing preference for minimally invasive surgeries (MIS) in urology and gynecology increases manufacturers focus on development of such devices. In 2017 R&D invested around USD 355.21 million for Olympus Corporation whereas nearly USD 94.08 million for Coloplast in 2016/17.
Market Drivers and Restraints:
- Rising Geriatric Population and Subsequent Growth in the Prevalence of Kidney Diseases & Urinary Tract Infections (UTIS).
- Increasing preference for less invasive surgeries
- Growing healthcare investments in surgical centers , funds, investments and grants by government administration worldwide
- High Cost and risk of complications associated with surgical procedures in case of geriatric patients.
- Unfavourable Healthcare Improvements in The U.S.
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Market Segmentation: Global Urology Surgical Instruments Market
- The global urology surgical instruments market is segmented based on product, application and geographical segments.
- Based on product, the market is segmented into urology endoscopes, endovision systems, Peripheral instruments, peripheral instruments.
- Based on application, the market is segmented into chronic kidney disease, benign prostatic hyperplasia (BPH), urinary stones, urinary incontinence (UI) and pelvic organ prolapse (POP), oncology, other applications.
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Key Developments in the Market:
- March 2018: Boston Scientific Corporation acquired EMcision Limited, a developer of medical devices in the U.K. and Canada. The acquisition of EMcision Limited by Boston Scientific will expand its endoscopy portfolio. In addition, the company is expanding its devices in the field of less invasive endoluminal procedures.
- In December 2017, Coloplast A/S acquired SAS Lilial (Lilial), a privately owned French catheter and ostomy supplier to boost the growth of the urology surgical instrument market.
Competitive Analysis: Global Urology Surgical Instruments Market
The global urology surgical instruments market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global urology surgical instruments market for global, Europe, North America, Asia Pacific and South America.
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