Urethral Stricture Treatment Devices Market: Current Analysis and Forecast (2021-2027)

Global Urethral Stricture Treatment Devices Market is anticipated to grow with an elevated CAGR of around 6% over the forecast period (2021-2027).

Urethral stricture is a condition in which the urethral opening becomes narrow due to injuries, scars, or infection. A stricture obstructs the free flow of the urine through the urethra. Therefore, urethral stents, catheters, or dilators are employed to maintain the flow as the urethral stricture treatment. The growing adoption of urethral stricture treatment devices can be attributed to the rising prevalence of benign prostatic hyperplasia & neurogenic bladder coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly people is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Furthermore, with rapid advancements in technology, many of the industry players are focusing on launching new products in the market to expand their product portfolio, which will drive the market for urethral stricture treatment devices globally. For example, in December 2021, The US Food and Drug Administration (FDA) approved the Urotronic Optilume Urethral Drug Coated Balloon to treat urethral strictures in males. It serves as an alternative to traditional endoscopic stricture treatments for men suffering from urethral strictures. Boston Scientific Corporation, Laborie, Cook Medical, B.Braun Melsungen AG, Allium Medical, Becton, Dickinson and Company, Teleflex Incorporated, Pnn Medical A/S, Med pro Medical B.V., and Coloplast, are some of the prominent players operating in the urethral stricture treatment devices market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with urethral stricture treatment devices.

Insights Presented in the Report

"Amongst Product Type, urethral balloon dilation catheters segment holds the major share"

Based on product type, the urethral stricture treatment devices market is segmented into urethral dilators, urethral stents, urethral balloon dilation catheters, and urinary catheters. The urethral balloon dilation catheters segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as it is well-tolerated, safe, and offers various advantages such as minimal complications, less morbidity, and technically less challenging to perform.

"Amongst Stricture Location, anterior segment holds the major share"

Based on stricture location, the urethral stricture treatment devices market is divided into anterior and posterior. The anterior segment occupied the major share of the urethral stricture treatment devices market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years as anterior urethral strictures are the most common and occur anywhere along the urethra from the urethral meatus at the tip of the penis, in the penile urethra or in the bulbar urethra, which is located behind the scrotum in males.

"Amongst End-Users, hospitals segment holds the major share"

Based on end-users, the market is fragmented into hospitals, specialty clinics, and others. In 2020, the hospitals segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the increasing number of hospitals and a surge in the number of urology surgeries in the hospital setting. Also, the presence of well-trained healthcare professionals, well-established infrastructure, and availability of technologically advanced devices in hospitals are some of the factors contributing to the growth of this segment. However, specialty clinics are also likely to witness lucrative growth during the forecast period.

"North America represents one of the largest markets of Urethral Stricture Treatment Devices market"

For a better understanding of the market dynamics of the Urethral Stricture Treatment Devices market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the urethral stricture treatment devices market industry in 2020 owing to the strong healthcare infrastructure and growing adoption of urethral stricture treatment devices in the region.

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