Urology Surgical Instruments Market Size and Export, Import Analysis 2020-2025

28th Oct 2020 - Global Urology Surgical Instruments Market size is expected to reach USD 14.12 billion by 2025. Urology surgeries are associated with the treatment of urologic disease or dysfunction of female and male urinary tract. These surgeries also known as “genitourinary surgery”. Urologic disease or dysfunction in male include kidney stones, bladder control dysfunction, nephrectomy, prostate disorders, ureteral reimplants, pyeloplasty, and urinary retention. The market is expected to grow at a 7.9% CAGR in the forecast period.

In these surgeries, some products are used such as endoscopes, endovision systems, peripheral systems, consumables & accessories, forceps, cystoscope bridge, resectoscope electrodes, channel deflector, urethrotome and others. The “consumables & accessories” segment is anticipated to grow at a high CAGR in the upcoming period due to repeated usage of these products and their disposable nature. In addition, rise in number of urology procedures is expected to boost the demand for these products in the next couple of years.

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Consumables and accessories are further classified into stone baskets/retrieval devices & extractors, stents, fluid flushing devices, drainage bags, needle forceps & needle holders, biopsy devices, clamps, distal attachments, connecting tubes, catheters, overtubes, guidewires, dilator sets & ureteral access sheaths, surgical dissectors and others. Application such as chronic kidney diseases (CKD), urinary stones, benign prostatic hyperplasia (BPH), oncology, urinary incontinence (UI) & pelvic organ prolapse (POP) and other. The “chronic kidney diseases” segment is expected to hold the large market share in the upcoming period due to rising incidence of CKD, growing number of clinical trials for new non-invasive procedures to treat these diseases and increasing initiatives by governments globally. However, the “urinary incontinence & pelvic organ prolapse” segment is anticipated to grow at the higher CAGR in the coming years owing to significantly increasing number of surgical procedures for urinary incontinence, advancing technologies, growing awareness about incontinence and rising adoption of these products for managing incontinence.

The factors that play an important role in the growth of market include increasing demand, growing geriatric population, increasing urbanization & industrialization, rising preference for minimally invasive surgeries, increasing prevalence of urinary disorders, surging R&D investments, growing healthcare industry, ongoing product launches by manufactures, and technological advancements. Moreover, rising number of hospitals, growing hospital investments in surgical infrastructure and availability of funds, investments & grants from government are expected to drive the market growth in the coming years.

However, increasing cost of urology endoscope & laparoscopic endovision system, high risk of complications associated with surgical procedures in geriatric patients and the other high pricing are negatively impacting the growth of urology surgical instruments industry. The Urology Surgical Instruments market is widely analyzed based on different regional factors such as gross domestic product (GDP), demographics, acceptance, inflation rate and others. The market is categorized based on product type, application, distribution channel and geography.

The key players contributing to the robust development of the urology surgical instruments industry include Olympus Corporation, Richard Wolf GmbH, Coloplast Group, Cook Medical Inc., KARL STORZ GmbH & Co. KG, Medtronic plc, Boston Scientific Corporation, Stryker, Teleflex Incorporated, Stryker Corporation, ConMed Corporation and CooperSurgical Inc. The major market players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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North America has been at the forefront with regards to urology surgical instruments market and will continue to rule the roost in the years to come. The increasing urology equipment purchases by hospitals, rising incidences of urology cancers & disorders, rise in number of urologists, increasing healthcare spending on urology disorders and positive reimbursement scenario are the factors likely to boost the Urology Surgical Instruments market growth in this region.

On the other hand, Asia Pacific is anticipated to grow at a high CAGR in the next couple of years owing to growing geriatric population, increasing healthcare expenditure for urology by governments, rapidly growing healthcare industry, improving healthcare infrastructure in India & China and stringent regulatory policies. Also, presence of large number of public & private hospitals in Australia, China, Malaysia, Japan, India, New Zealand, Singapore and Indonesia are purchasing new urology equipment to meet increasing demand for urology procedures.

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