Research Nester released a report titled “Urology Laser Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the Urology Laser Market in terms of market segmentation by laser type, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The urology laser market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the rising prevalence of urology-related disorders, along with increase in preference for minimal invasive surgeries. According to National Center for Health Statistics of U.S. Federal Statistical System, urinary tract infections are the second-most common type of infections, leading to about 8.1 million visits to healthcare providers each year.
The market is segmented by 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. Among these segments, the thulium (THU: YAG) segment is anticipated to hold the largest share by the end of 2021 in the urology laser market as a result of higher protection and efficacy in terms of tissue resection speed and preventing blood loss.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the urology laser market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the increased use of minimally invasive procedures and enhanced demand for patient safety in the region.
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Rising prevalence of urology-related disorders and increasing preference for minimal invasive surgeries to Drive Market Growth
According to the data released by Center for Disease Control and Prevention (CDC), in U.S., over 20 million people suffer from some type of chronic kidney disease.
Unhealthy lifestyle is one of the most predominant risk factors for any kind of urologic disorder. It has been observed that individuals with a weak immune system possess a high risk of having urologic problems. Additionally, the increasing preference for minimal invasive surgeries in recent years is also expected to boost the market growth in upcoming years. However, stringent regulatory policies in developed countries like U.S. are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the urology laser market which includes company profiling of Boston Scientific Corporation (NYSE: BSX), Olympus Corporation (TYO), JenaSurgical GmbH, Ethicon Inc., Stryker Corporation (NYSE: SYK), Richard Wolf GmbH, Lumenis Ltd., Quanta System SpA, Karl Storz GmbH, and Others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the urology laser market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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