Global Urology Surgical Instrument Market: Outlook
Global Urology Surgical Instrument market report provides analysis for the period 2012 – 2024, wherein the period from 2018 to 2024 is the forecast period and 2017 as the base year. The market study talks about the expected growth of this market with a CAGR of over 8.3% during 2018-2024 in terms of value. The given market growth is influenced by numerous reasons such as an increase in the healthcare expenditure, growth in geriatric population, increasing pervasiveness in the chronic kidney diseases and urinary tract infections, a rise in the male grooming market, and growing investments in hospitals for surgical infrastructure.
Increase in healthcare expenditure is one of the key aspects that are driving market growth. Diseases are becoming increasingly prevalent among people and thus government and non-governmental organizations are taking various initiatives related to the market. Also, due to the growing geriatric population who tend to fall prey to these diseases given their low immunity levels is a reason for the rise of this market. Poor lifestyle and the lack of preventive care among people are causing the rise of chronic kidney diseases and UTI among people. Geriatric population is more susceptible to chronic kidney diseases and UTI. Hence, investments in the healthcare market are also increasing.
The market is expected to see good growth but there are a few hindrances too. The high cost incurred in buying the urology surgical instruments is the key reason. The products are highly essential in the treatment procedure and thus costs of these products should be affordable so that more and more hospitals can buy the products.
Global Urology Surgical Instrument Market: Scope of the Report
On the basis of the type of product, the market is segmented into consumables & accessories, endovision system, urology endoscope, and peripheral instrument. Based on the application the market is segmented into chronic kidney diseases, urinary stone, BPH, UI & POP oncology, and others. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, and Rest of the World (ROW) along with the qualitative analysis for market estimates that boosts the growth of the global urology surgical instrument market during the forecast period.
The report also highlights the competitive landscape of the global urology surgical instrument market that includes the company overview, the products & offerings, the strategic decisions taken by the company, the launch of new products and financial highlights. The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of global urology surgical instrument market.
Global Urology Surgical Instrument Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Urology Surgical Instrument Market Size, Share, Development, Growth and Demand Forecast to 2024” are:
As per the findings of the research, consumables
and accessories market has been the largest revenue contributor to the global
urology surgical instrument market as compared to other products
The increasing prevalence of CKD and UTI’s, and
growing geriatric population are the major factors driving the market growth
North America was globally the largest market
for urology surgical instrument. This market was valued USD2,834.9 million in
2017 and it is expected to grow with a CAGR over 8.4% during the period
Based on product, consumables and accessories
was the largest segment of the global urology surgical instrument market. The
market for consumables and accessories was valued at USD 3,434 million in 2017
and it is expected to reach USD 5,621 million by 2024, with a CAGR over 7.1%
during the period 2018-2024
Based on application, CKD was the largest
segment of the global urology surgical instrument market. The market for CKD
was valued USD 2,300 million in 2017 and t is expected to reach over USD 3,762
million by 2024, growing with a CAGR 7.1% during the period 2018-2024
GLOBAL UROLOGY SURGICAL INSTRUMENT MARKET, REVENUE FORECAST, USD (MILLION) 2012 – 2024
Global Urology Surgical Instrument Market: Research Methodology
Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global urology surgical instrument market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.
Global Urology Surgical Instrument Market: Competitive Dynamics
Prominent market players of the industry follow several strategies to gain significant market share such as acquisition & merger, enhancing product portfolio and expanding geographical footprints. The major market players of the industry are Karl Storz GmbH & Co. Kg, Olympus Corporation, Coloplast A/S, Richard Wolf GmbH, Boston Scientific Corporation, Cook Medical Incorporated, Medtronic PLC, Stryker Corporation, Teleflex Incorporated, Conmed Corporation, and Coopersurgical, Inc. Other than these companies there are several small-scale and large–scale industries involve in the market which also hold significant market share.