The urology laser market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing prevalence of urology-related disorders, along with rising preference for minimal invasive surgeries are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as advancements in technology. According to the data collected from the National Center for Health Statistics of U.S. Federal Statistical System, urinary tract infections are the second-most common type of infections, accounting for about 8.1 million visits to healthcare providers each year.
The market is segmented based on laser type into holmium (HO: YAG), thulium (THU: YAG), neodymium (ND: YAG), KTP (potassium titanyl phosphate), diode laser, green light laser, Erbium: YAG laser, lithium triborate, and others, out of which, the thulium (THU: YAG) segment is anticipated to grab the largest share by the end of 2029 on account of higher safety and efficiency in terms of tissue resection speed and preventing blood loss. However, neodymium (ND: YAG) is the most widely used laser in urology applications.
On the basis of application, the benign prostate hyperplasia (BPH) segment in the urology laser market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the continuous increase in elderly population in the world which is more susceptible to suffer from benign prostate hyperplasia (BPH). Moreover, therapeutic results obtained after treatment of benign prostate hyperplasia (BPH) patients with urology laser are better than those obtained through open or endoscopic operations. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increase in number of patients with urology related disorders in the region. Furthermore, the market in North America is evaluated to occupy the largest share during the forecast period, owing to greater use of minimally invasive procedures and growing demand for patient safety. Alternatively, the market in Europe is also anticipated to occupy a significant share in the urology laser market on account of high prevalence of kidney stones among children and adolescents in the region. According to National Centre for Biotechnology Information, over 4 million patients acquire healthcare-associated infections in the European Union every year.
The urology laser market is further classified on the basis of region as follows:
Our in-depth analysis of the urology laser market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of urology-related disorders, along with rising preference for minimal invasive surgeries are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Strict regulatory procedures in advanced countries like U.S. is estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increase in number of patients with urology related disorders in the region.
The major players dominating the urology laser market are Boston Scientific Corporation, Olympus Corporation, JenaSurgical GmbH, Ethicon Inc., Stryker Corporation among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by laser type, application and region.
With respect to application, the Benign Prostate Hyperplasia (BPH) segment is anticipated to hold the largest market share owing to the continuous increase in elderly population in the world which is more susceptible to suffer from Benign Prostate Hyperplasia (BPH).
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