Urology Surgical Instrument Market Growth Analysis by Demand, Manufacturers, Regions, Type and Application- P&S Intelligence

The market is majorly being driven by increasing prevalence of urinary tract infections (UTIs) in women, surging geriatric population, and rising prevalence of benign prostatic hyperplasia (BPH) procedures.

On the basis of product, the market has been categorized into consumables and accessories, urology endoscopes, endovision systems, and peripheral instruments. The consumables and accessories category is predicted to lead the urology surgical instrument market, both in terms of size and growth. The category contributed a 45.3% share in the global market in 2017 and is expected to progress at a CAGR of 9.1% during the forecast period. This leading position is mainly attributable to the high use of guidewires, stone basket, stents, catheters and dilator sets in urology surgery.

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These surgical instruments find application for the treatment of chronic kidney disease (CKD), urinary stone, BPH, urinary incontinence (UI) and pelvic organ prolapse (POP), oncology and other disorders (erectile dysfunction and hernia). Urology surgical instruments are widely used for the treatment of CKDs due to their increasing prevalence globally as compared to other disorders, and held the largest share in the urology surgical instrument market. According to Centers for Disease Control and Prevention (CDC), 30 million people or 15% of U.S. adults were estimated to have CKDs in 2017.

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Due to increasing GDP, the countries in the region are witnessing growing demand of these surgical instruments. According to the World Bank, the GDP per capita of India increased from $1,345.8 in 2010 to $1,709.4 in 2016. A similar trend has been observed for other developing countries as well, such as Papua New Guinea, Philippines, and Indonesia, thus leading to the growth of the APAC urology surgical instrument market.

Globally, key players in the urology surgical instrument industry are acquiring other firms to attain a higher position in the market. For instance, in March 2018, Boston Scientific Corporation announced that it acquired EMcision Limited, a developer of medical devices in the U.K. and Canada. The acquisition would expand the Boston Scientific Endoscopy portfolio to include the HabibTM EndoHPB probe, a novel endoscopic bipolar radiofrequency device, which coagulates tissue in the gastrointestinal (GI) tract.

In December 2017, Coloplast A/S entered into a definitive agreement to acquire SAS Lilial (Lilial), a privately owned French catheter and ostomy supplier, for a cash consideration of $41.7 million (€35.5 million). The transaction was closed in January 2018. The acquisition was aimed at providing further access to payers and strengthening Coloplast’s position and offerings in France. Acquisitions taking place in this industry boost the growth of the urology surgical instrument market.

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