Urethral Strictures Market Competitive Landscape – Industry Expected to Expand at 7.30% CAGR till 2023

The Global Urethral Strictures Market is anticipated to touch USD 1.53 billion by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 7.30% CAGR during the assessment period (2018-2023). Urethral stricture is a condition caused to the urethra due to scarring or injury which restricts normal urine excretion from the body. The restriction can cause numerous problems, including infection and inflammation.

Increasing incidence of urinary incontinence (UI) is the primary driver of the market. Demand for cost-effective treatments for treating urethral strictures coupled with development of minimally invasive surgeries in India and China are likely to fuel market demand over the forecast period. Stringent regulations and lack of awareness among patients can restrain market growth. But prevalence of urological disorders and adoption of advanced methods can offer new opportunities for growth.

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.

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Key Players for Global Urethral Strictures Market

Market Research Future (MRFR) recognizes the following companies as the key players in Urethral Strictures Market: There are plenty of large and small market players which operate in this market all over the globe.

Boston Scientific Corporation, Cook Medical Incorporated, Olympus Corporation, Bard Medical, Inc., Stryker Corporation, and others are noteworthy players in the urethral strictures market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.

The report offers comprehensive profiles on these market players and assesses their current standing in the urethral strictures market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Segments for Global Urethral Strictures Market

By type, the urethral strictures market has been segmented into anterior and posterior urethral strictures. The posterior urethral stricture segment is expected to be the biggest revenue generator for the market till 2023. By condition, the market is segmented into hypospadias & epispadias, incontinence, and others. By gender, the market is segmented into male and female. The male segment accounted for a large market share in 2017 and possesses the potential to dominate the market till 2023.

By cause, the market is segmented into infection-induced, idiopathic, iatrogenic, and trauma. The iatrogenic segment was projected to be worth USD 468.8 million in 2017. By treatment, the market is segmented into direct vision internal urethrotomy (DVIU), urethroplasty, urethral dilation, and others. Major market end-users include ambulatory surgical centers (ASCs), urologic clinics, hospitals, and others. The hospital segment is touted to remain the top end-user till 2023.

The segments and sub-segments covered in the report are analyzed under four major regions – Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA), with respective country-level market sizing. For the scope of research, the standard definition of the product/service “urethral strictures” is included in the report. The report discusses and interprets the current and future opportunities of the industry by delivering an unbiased growth assessment.

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This release was published on openPR.