Urology Surgical Instruments Market to Account for USD 14.12 Billion by 2025
The global urology surgical instruments market size is expected to reach USD 14.12 billion by 2025, according to a new report by Grand View Research, Inc.
94105(firmenpresse) - The global urology surgical instruments market size is expected to reach USD 14.12 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.9% CAGR during the forecast period. Growing geriatric population, increasing prevalence of urinary disorders, rising preference for minimally invasive surgeries, surging R&D investments, and ongoing product launches by manufacturers are some of the key factors driving this market.
According to the National Association for Continence, one in five individuals over the age of 40 suffers from urine urgency, overactive bladder, or leakage of urine. Urinary incontinence is highly prevalent among geriatric population and often results in poor quality of life, high costs, and morbidity. As per the American Society of Nephrology, urologic issues are the third most common complaint among people 65 years and above and they account for approximately 47.0% of visits to the physician. Thus, rising geriatric population could lead to increase in prevalence of urinary problems, thereby boosting demand for urology surgical instruments in the coming years.
There has been growing preference for minimally invasive surgeries (MIS) in gynecology and urology in recent years. Many manufacturers are focusing on development of products to be used for such procedures. For instance, in FY 2017, the research and development expenses of Olympus Corporation were pegged at USD 355.21 million. Similarly, the R&D costs of Coloplast in 2016/17 were nearly USD 94.08 million (DKK 574 million). This has increased from USD 83.43 million (DKK 509 million) in 2015/16. These R&D investments aid in development and launch of new products in the market.
To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/urology-surgical-instruments-market
Further key findings from the report suggest:
By product, the consumables and accessories segment held majority of the market in 2016 due to repeated usage of these products and their disposable nature
On the basis of application, chronic kidney diseases (CKD) held the dominant share in 2016 owing to rise in cases of CKD, increasing number of clinical trials for new non-invasive procedures to treat these conditions, and initiatives by governments across the globe
North America dominated the global market owing to an increase in demand for minimally invasive urology surgeries, positive reimbursement scenario, and high adoption of advanced technologies
Asia Pacific is anticipated to witness the fastest growth owing to improving healthcare infrastructure, rising prevalence of urology disorders, and growing popularity of this region as a destination for medical tourism
Some of the key players are Olympus Corporation, Coloplast Group, Richard Wolf GmbH, KARL STORZ, Cook, Boston Scientific Corporation, Medtronic, Teleflex Incorporated, and Stryker.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 27.11.2019 - 10:57 Uhr
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