Market Research Report
Global Urology Laser Market (2019-2025)
|Global Urology Laser Market (2019-2025)|
Published: December 31, 2019
Content info: 184 Pages
Delivery time: 1-2 business days
The Global Urology Laser Market size is expected to reach $1.3 billion by 2025, rising at a market growth of 5.7% CAGR during the forecast period. Urology laser surgical equipment is used for incision and resection of soft tissue and tumor ablation. Laser therapy is a medical treatment that utilizes a strong light beam to cut, burn, or destroy tissue. In many fields of medical treatment, therapeutic lasers can be used. The oldest known medical lasers have been used in ophthalmology and dermatology. A medical laser is a non-invasive and efficient source of light for tissue treatment that offers fast healing without scarring or discoloration.
The accelerated need for medical lasers to treat multiple diseases and the growing need for non-invasive treatments are among the factors that drive growth in the medical lasers industry. The extensive demand in developing countries for aesthetic laser procedures is expected to raise the market share of medical laser. The use of lasers in the treatment of urolithiasis, urinary strictures, and bladder tumors has made it safe to treat older patients with several comorbidities without further need to change the treatment with anticoagulant medications. Furthermore, laser procedures are less invasive, minimize hospitalization time and allow for a shorter time for bladder catheterization, sometimes even removing the need for bladder catheterization.
More stable performance and a lower number of reoperations are also characterized by these procedures. There are also expectations that laser equipment will become a necessary and indispensable asset in all urology wards due to increased competition among laser manufacturers, decreased purchase and maintenance expenses, as well as increased operational safety.
To order to maintain its market position, factors such as increased availability of innovative portable laser surgical devices and versatility and effectiveness play an important role in the segment of portable laser surgical devices. In addition, market studies on laser devices for urology discuss factors such as the increasing prevalence of urological disorders, product and technology launches, and the growing value chain M&A. Nonetheless, higher costs associated with urological surgical procedures, product recalls, complications associated with laser surgical devices can impede the proliferation of laser technologies in the medical industry.
Based on Laser Type, the market is segmented into Holmium Laser System, Thulium laser system, Diode Laser System and Other Laser Type. Based on Application, the market is segmented into Benign Prostatic Hyperplasia (BPH), Urolithiasis, Non-Muscle-Invasive Bladder Cancer (NMIBC) and Other Application. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Stryker Corporation and Johnson and Johnson (Ethicon, Inc.) are some of the forerunners in the Urology Laser Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Olympus Corporation, Johnson and Johnson (Ethicon, Inc.), Stryker Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Cook Medical, Inc. (Cook Group), Karl Storz SE & Co. KG, Lumenis Ltd. (XIO Group), Allengers Medical Systems Limited, and Becton, Dickinson and Company.
Recent strategies deployed in Urology Laser Market
Partnerships, Collaborations, and Agreements:
Nov-2019: Olympus signed an agreement with RocaMed, an innovator of quality medical products. Under the agreement, Olympus will distribute the RocaFlow Double Chamber Pump System and Tubing Sets, which are used in urology procedures including trans-urethral resection of the prostate (TURP) and ureteroscopy for kidney stones.
Oct-2019: Cook Medical signed an agreement with Quanta Systems, a company that offers innovative laser systems for a variety of specialties. Under the agreement, Cook will distribute the comprehensive offerings of Quanta's holmium and thulium laser systems in some territories. The company will make sure that the physicians have access to the latest laser technology for the treatment of their patients together with the Cook's comprehensive line of disposable products.
Acquisition and Mergers:
Oct-2018: Boston Scientific acquired Augmentix, a medical device company. Its portfolio includes the SpaceOAR Hydrogel System, which has been designed for minimizing the common and weakening side effects experienced by men after undergoing radiotherapy for prostate cancer treatment. The addition of Augmentix's portfolio enhances the position of Boston in prostate health segment.
Apr-2018: Olympus signed a definitive agreement to acquire lithotripsy system design and production technology from Cybersonics Inc. The acquisition supports Olympus in driving growth in designing and producing competence in lithotripsy through adding its powerful urology portfolio to Olympus.
Apr-2018: Boston Scientific completed the acquisition of NxThera, a company that developed Rezum system, a minimally invasive therapy (MIT) for patients with symptomatic benign prostatic hyperplasia (BPH). NxThera became a part of Boston Scientific Urology and Pelvic Health business. The addition of NxThera's portfolio complements the Boston's urology portfolio that includes holmium laser platforms and GreenLight XPSTM Laser Therapy system.
Feb-2018: Richard Wolf opened a new subsidiary in Singapore for expanding its healthcare services to Asia. The new subsidiary has been marked as the 15th subsidiary of the company.
Product Launches and Product Expansions:
May-2019: Stryker unveiled a new visualization platform in its arthroscopy department. The platform includes Connected OR Hub and HipCheck, HipMap, 1688 Advanced Imaging Modalities (AIM) 4K Visualization Platform, which are designed for increasing the overall surgical experience in arthroscopy. This can also be used in laparoscopy, urology, ENT, colorectal, and gynecology.
Sep-2018: Boston Scientific announced the launch of LithoVue Empower™ Retrieval Deployment Device. This device would be used with LithoVue™ Single-Use Digital Flexible Ureteroscope and compatible nitinol retrieval basket for allowing the urologists in operating a basket and ureteroscope at the time of recovering kidney stones via flexible ureteroscopy (URS).
May-2018: Olympus launched EMPOWER laser portfolio line in order to deliver full range of capabilities in Ho: YAG lithotripsy specialized in fragmentation, dusting, and soft tissue ablation. The benefits of EMPOWER solutions include greater dusting capability, greater versatility, a stabilization mode, etc.