Urethral Stricture Market 2018 To 2023 Global Industry Forecasts by Top Players | Olympus Corporation, Bard Medical, Inc., Stryker Corporation and others

Global Urethral Strictures Market- Summary

The Global Urethral Strictures Market is anticipated to touch USD 1531.99 million with a moderate CAGR of 7.60% during the assessment period (2018-2023), reports Market Research Future (MRFR). The rapid shift in contemporary lifestyle has led to urological disorders in many countries across the world resulting in a burgeoning urethral strictures market. In addition, regions such as Asia Pacific (APAC) and South America are registering an uptick in growth in the healthcare sector inviting further expansion for the said market. However, stakeholders are preferring to remain cautiously optimistic.

Urethral stricture is a common disease that as per our researches can be found in 200-1,200 cases per 100,000 individuals and mostly in men above 55 years of age. The steep escalation in numbers has an intimidating impact on the healthcare industry which has now turned more cautious. Furthermore, genetic conditions such as hypospadias and epispadias are also adversely affecting patients that can be cured only by surgical treatments.

Urolithiasis is also emerging as a major concern. The daunting figures, published by the National Kidney Foundation in 2017, exhibit that in the U.S., 73 million adults are affected by high blood pressure whereas, 29 million adults have high diabetes. These are physical anomalies that can culminate into urolithiasis, triggering the demand in the urethral stricture market.

However, the effective treatment for the disease requires surgery, thus, incurring high costs. The average increase in urethroplasty cost each year has been estimated to be USD 616 which can affect the market growth during the review period.

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Industry Trend:

The recent treatment methods have shown that tissue engineering and scar modulation are the most significant areas of research for reconstructive urology. The treatment requires engineered buccal mucosa from the patient. The study has shown that the tissue-engineered oral mucosa has 83% success rate.

Market Competition:

The global market is a conglomeration of both international and national companies who are well invested in finding innovative ways for surgical instrumentation and techniques to develop the segment further.

The key players profiled in the report are Lumentis Ltd, Cook Medical, Richard Wolf, SRS Medical, Boston Scientific Corporation, Bard Medical, Cook Medical Incorporated, Olympus Corporation and others.

Segmentation Analysis:

The global market for urethral strictures can be segmented by type, condition, cause, treatment, gender, and end-user.

By type, the market includes posterior urethral stricture and anterior urethral stricture. Newly developed drugs have spurred the growth of posterior urethral strictures, and the segment is currently dominating the market and expected to do so in coming years.

Based on condition, the market comprises hypospadias & epispadias, urinary incontinence, and others. The hypospadias & epispadias segment has registered valuation of over USD 468.8 million in 2017 and anticipated to witness the highest CAGR during the review period.

Cause-based segmentation consists of iatrogenic, idiopathic, infection-induced, and trauma. In 2017, the iatrogenic segment accounted for USD 284 million and is projected to grow at a robust CAGR during the assessment period.

On the basis of treatment, the segment covers urethral dilation, direct vision internal urethrotomy (DVIU), urethroplasty, and others. In 2017, urethroplasty accounted for the maximum market share and generated revenue of USD 224.1 million. Factors attributing to the rise are advent of technologies and new drug approvals. However, the past six years have favored urethral dilation significantly in terms of market growth, as it has fewer adverse effects than its counterparts.

By gender, the market is segmented into male and female. The male segment presently accounts for the largest market share and is expected to remain so during the forecast period.

End-user based segmentation covers hospitals, urologic clinics, ambulatory surgical centers, and others. Hospitals are currently dominating the sector and are expected to do so in the foreseeable future owing to other segments outsourcing diagnosis process to the industry.

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Regional Analysis:

Region-wise the covers namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The Americas are currently dominating the market owing to a well-structured healthcare system and a growing population with a urological disorder that demands rapid action. As per a study conducted by the American Cancer Society, prostate cancer has been deemed as the most common cancer in the American men in 2016. This report indicates the necessity of such treatment in the area and the reasons behind the escalating market graph.

Europe holds the second position due to the availability of the advanced treatment facilities and a growing population with a high number of affected people. The increasing number of prostate cancer cases in the region is also spurring the need for such treatments.

The growth in the APAC region is a result of multiple factors. A huge population base with such diseases, increase in healthcare expenditure, change in lifestyle, and availability of skilled professionals have also triggered the growth of this market in the region.

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This release was published on openPR.