Urology Laser Market Highlights 2020-2029
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.
Urology Laser Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the urology laser market includes the following segments:
By Laser Type
- Holmium (HO: YAG
- Thulium (THU: YAG)
- Neodymium (ND: YAG)
- KTP (Potassium Titanyl Phosphate)
- Diode Laser
- Green Light Laser
- Erbium: YAG Laser
- Lithium Triborate
- Others
By Application
- Benign Prostate Hyperplasia (BPH)
- Tumors
- Stones
- Strictures
- Others
Growth Drivers
- Increasing prevalence of urology-related disorders
- Rising preference for minimal invasive surgeries
Challenges
- Strict regulatory procedures in developed countries
Top Featured Companies Dominating the Market
- Boston Scientific Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Olympus Corporation
- JenaSurgical GmbH
- Ethicon Inc.
- Stryker Corporation
- Richard Wolf GmbH
- Lumenis Ltd.
- Quanta System SpA
- Karl Storz GmbH
