Market Research Report
Urology Laser Market - Growth, Trends And Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||928040|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Urology Laser Market - Growth, Trends And Forecast (2020 - 2025)|
|Published: March 1, 2020||Content info: 112 Pages||
The Urology Laser Market is expected to register a CAGR of 5.7% during the forecast period. The key factors bolstering the market growth include high incidence of urologic conditions, growing acceptance for minimally invasive treatment and technological advancements.
Rising adoption of minimally invasive surgical procedures in holmium systems as well as thulium laser treatment systems is one of the major factors propelling the market for urology lasers. These systems offer several benefits, such as greater efficiency, safety, and rapid recovery, resulting in increased demand for thulium and holmium systems. Furthermore, laser procedure provides benefits such as faster recovery, shorter hospital stays, decreased blood loss and lower overall body pain resulting from smaller incisions. Hence the reliability and safety features of these systems are expected to drive market growth.
The high incidence rates and health complications coupled with urological diseases is propelling the market of urology laser market. According to the American Urological Association Foundation, urinary incontinence, urinary tract infections, benign prostatic hyperplasia and lower urinary tract symptoms are among the most common urological diseases. In addition, increasing prevalence of urinary tract infection will drive the market in upcoming year. According to the World Health Organization, approximately 50% of women suffer from UTI at some point in their lives.
Moreover, advent in technology will propel the growth of the urology laser market. For instance, GreenLight HPS Laser Therapy System by Boston Scientific Corporation that uses the 10-2090 fiber for the treatment of Benign Prostatic Hyperplasia (BPH) as well as EA fiber for the treatment of urethral strictures and bladder tumors in patients. However, high cost associated with laser devices can impede the proliferation of laser technologies.
Benign prostatic hyperplasia (BPH) is Expected to Hold the Largest Revenue in the Segment in Urology Laser Market
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America currently dominates the market for urology laser devices and is expected to continue its stronghold for a few more years owing to the increasing prevalence of urolithiasis, BPH and other urology-related disorders. According to National Center for Biotechnology Information, approximately 70 percent of adult experience BPH at some point in their lifetimes in the United States. Technological advancements in urology laser equipment play a vital role in driving the demand for urology lasers. For instance, in 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.
The urology laser market consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Olympus Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Cook Group, Medtronic, biolitec AG and Lumenis Ltd. For instance, Boston Scientific Corporation introduced its advanced GreenLight HPS Laser Therapy System for an effective and safe treatment for urethral strictures and bladder tumors. Advancements such as these are anticipated to boost the market growth over the forecast period.