UROLOGY SURGICAL INSTRUMENT MARKET PROJECTED TO GROW AT 7.6% CAGR BY 2024 BY FOCUSING ON TOP PLAYERS: KARL STORZ GMBH & CO. KG, OLYMPUS CORPORATION, COLOPLAST A/S, RICHARD WOLF GMBH AND MANY MORE

Global Urology Surgical Instrument market report provides analysis for the period 2012 – 2024, wherein the period from 2018 to 2024 is the forecast period and 2017 as base year. The market study talks about the expected growth of this market with a CAGR over 7.6% during 2018-2024 in terms of value. The given market growth is influenced by numerous reasons such as increase in the healthcare expenditure, growth in geriatric population, increasing pervasiveness in the chronic kidney diseases and urinary tract infections, rise in the male grooming market, and growing investments in hospitals for surgical infrastructure.

Increase in the healthcare expenditure is one of the key aspects that are driving the market growth. Diseases are becoming increasingly prevalent among people and thus government and non-governmental organisations are taking various initiatives related to the market. Also, due to growing geriatric population who tend to fall prey to these diseases given their low immunity levels is a reason for the rise of this market. Poor lifestyle and the lack of preventive care among people are causing the rise of chronic kidney diseases and UTI among people. Geriatric population are more susceptible towards chronic kidney diseases and UTI. Hence, investments in the healthcare market are also increasing.

The market is expected to see a good growth but there are a few hindrances too. The high cost incurred in buying the urology surgical instruments is the key reason. The products are highly essential in the treatment procedure and thus costs of these products should be affordable so that more and more hospitals can buy the products.

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Scope of the Report
On the basis of the type of product, the market is segmented into consumables & accessories, endovision system, urology endoscope, and peripheral instrument. Based on the application the market is segmented into chronic kidney diseases, urinary stone, BPH, UI & POP oncology, and others. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, and Rest of the World (ROW) along with the qualitative analysis for market estimates that boosts the growth of the global urology surgical instrument market during the forecast period.

The report also highlights the competitive landscape of the global urology surgical instrument market that includes the company overview, the products & offerings, the strategic decisions taken by the company, the launch of new products and financial highlights. The market overview section of the report demonstrates market dynamics such as drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of global urology surgical instrument market.

Key Findings of the Report

According to BlueWeave Consulting, the key findings of the report “Global Urology Surgical Instrument Market Size, Share, Development, Growth and Demand Forecast to 2024” are:
• As per the findings of the research, consumables and accessories market has been the largest revenue contributor to the global urology surgical instrument market as compared to other products

• The increasing prevalence of CKD and UTI’s, and growing geriatric population are the major factors driving the market growth

• North America was globally the largest market for urology surgical instrument. This market was valued over USD3,039 million in 2017 and it is expected to grow with a CAGR over 8.4% during the period 2018–2024

• Based on product, consumables and accessories was the largest segment of the global urology surgical instrument market. The market for consumables and accessories was valued at USD 3,677 million in 2017 and it is expected to reach over USD 6,800 million by 2024, with a CAGR over 8.6% during the period 2018-2024

• Based on application, CKD was the largest segment of the global urology surgical instrument market. The market for CKD was valued over USD 2,460 million in 2017 and it is expected to reach over USD 4,610 million by 2024, growing with a CAGR over 8.6% during the period 2018-2024.

Research Methodology

Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the global urology surgical instrument market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.

Competitive Dynamics

Prominent market players of the industry follow several strategies to gain significant market share such as acquisition & merger, enhancing product portfolio and expanding geographical footprints. The major market players of the industry are Karl Storz GmbH & Co. Kg, Olympus Corporation, Coloplast A/S, Richard Wolf GmbH, Boston Scientific Corporation, Cook Medical Incorporated, Medtronic PLC, Stryker Corporation, Teleflex Incorporated, Conmed Corporation, and Coopersurgical, Inc. Other than these companies there are several small-scale and large–scale industries involve in the market which also hold significant market share.

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