Our in-depth analysis of the urology laser market includes the following segments:
By Laser Type
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:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing prevalence of urology-related disorders, along with rising preference for minimal invasive surgeries are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Strict regulatory procedures in advanced countries like U.S. is estimated to hamper market growth.
Ans: 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.
Ans: The major players dominating the urology laser market are Boston Scientific Corporation, Olympus Corporation, JenaSurgical GmbH, Ethicon Inc., Stryker Corporation among others.
Ans: 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.
Ans: The market is segmented by laser type, application and region.
Ans: 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).