Urology Surgical Instrument Market Analysis by Top Companies, New Technology, Demand and Growth Opportunity

The global urology surgical instrument market is forecasted to attain revenue of $13.7 billion by 2023, according to P&S Market Research.

Urology surgical instrument is used in treating urology surgical specialties. Urology surgical specialty deals with the treatment of conditions involving the male and female urinary tract and the male and female reproductive organs. The urology surgical instrument market has been growing at a steady pace since the past few years and it is projected to maintain the growth rate for the next few years. The market is majorly being driven by increasing prevalence of urinary tract infections (UTIs) in women, surging geriatric population, and rising prevalence of benign prostatic hyperplasia (BPH) procedures.

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Surgical options for recurrent UTI management can range from minimally invasive procedures such as endoscopic or percutaneous, to more invasive procedures that require laparoscopic or an open approach. For instance, according to National Institute of Health (NIH), women are at greater risk of UTIs because the urethra in women is shorter as compared to men, allowing the better access of bacteria to the bladder. During childhood, the risk for girls having UTIs is 8%. It is estimated that by 2050, the number of women who have surgery to treat UTIs will increase by almost 50%, to more than 300,000 women.

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Globally, North America was the largest market for urology surgical instruments, contributing 37.9% revenue to the global urology surgical instrument market in 2017. The top 8 countries including the U.S., Japan, Germany, China, the U.K., France, India, and Brazil are expected to contribute 73.1% revenue to the global urology surgical instrument market by 2023. North America accounts for the largest demand for urology surgical instruments due to the increasing prevalence of bladder cancer in the U.S., advanced healthcare infrastructure, and growing geriatric population in the region. APAC is expected to witness the fastest growth in demand for these instruments, globally, during the forecast period. The market for these instruments in APAC is driven by growing healthcare and medical tourism industry in the region.

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