Global Urology Surgical Instrument Market (Size Of $7,204.4 million in 2015) to Witness 8.3% CAGR During 2016 – 2022
Among the various product types of urological surgical intrument, consumables and accessories accounted for the largest market in the global market in 2015, and it is expected to witness 8.6% CAGR during 2016 – 2022. Among the various applications, chronic kidney disease segment is expected to witness the fastest growth during the forecast period.
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Geographically, North America has been globally the largest market of urology surgical instruments, owing to the improvement in healthcare infrastructure and increasing cases with urology diseases in the region. Furthermore, advancements in minimally invasive surgeries are also driving the market growth in this region.
However, the urology surgical instrument market is expected to witness fastest growth in Asia-Pacific, with a CAGR of 8.7% during the forecast period. The high growth is attributed to increasing awareness about urology surgical instruments and increasing cases with kidney transplants in the region.
Urology surgical instrument such as stone baskets/retrieval devices helps in breakdown of kidney stones into small fragments and allow them to pass from the body without any surgery. In addition, advantageous features posed by minimally invasive surgeries using a laparoscope over traditional urologic surgical procedures is further resulting in its increased demand.
Open surgeries or traditional surgeries involve the formation of large incisions, which require long healing duration and also lead to long stay at hospital. In addition, laparoscopic urologic procedures lead to less blood loss, quick recovery time and less hospital stay.
Also, it leads to less post operation discomfort, and patients can resume their daily activities early, in comparison to those who had undergone traditional urologic surgeries.
Some of the key companies operating in the global urology surgical instrument market include Richard Wolf GmbH, Karl Storz GmbH & Co. Kg, Olympus Corporation, Coopersurgical, Inc., Cook Medical Incorporated, Boston Scientific Corporation, Coloplast, Medtronic PLC, Stryker Corporation, Teleflex Incorporated and Conmed Corporation.
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