Urology Surgical Instrument Market Expected to Reach US$ 14.06 Bn by 2024: According to BWC Research

According to a new market report published by BlueWeave Consulting, The Global Urology Surgical Instrument Market is expected to expand at a CAGR of 7.6% from 2018 to 2024, reaching US$14.06 Bn by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to the urology surgical instrument market in 2018.

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Increasing investment in the Healthcare industry by the government and non-government organizations are driving the urology surgical instrument market

Urology surgical instrument is used in treating urology surgical specialties. The Urology surgical specialty is the procedure which deals with the treatment of conditions involving the male and female urinary tract and the male and female reproductive organs.

Instruments of the Urological surgery, such as stone baskets/retrieval devices, help breaking down the urinary stones into small particles and then allows them to move out of the body without any surgery. Traditionally, open urological surgeries involve large formation of incision, and require longer duration for healing and thus leads to long stay at hospital. Nowadays, laparoscopic urologic surgeries have diminished the loss of blood, quicker healing tenure and shorter stay in hospital.

Due to less discomfort post operation patients can resume their daily activities and chores early, in comparison to those who had undergone open urological surgeries. Increase in the expenditure of Healthcare globally, owing to the diseases that are becoming increasingly prevalent and growing initiatives by the government and non-government organisations are a major driving force for the urology surgical instrument market.

Urology Surgical Instrument Market: Scope of the Report

The global urology surgical instrument market is segmented on the basis of product and application. On the basis of product, the market is segmented consumables & accessories, endovision system, urology endoscope, and peripheral instrument. The consumables & accessories was the largest segment in the global urology surgical instrument market in 2018, and is estimated to witness the highest growth during 2018-2024. On the application basis, the market is segmented into CKD, urinary stone, BPH, UI & POP oncology, and others. The CKD accounted for the largest segment in the global urology surgical instrument market in 2018. On the basis of region, the market is segmented into four parts namely North America, Europe, Asia Pacific and Rest of the world. North America was the largest region in the global urology surgical instrument market and Asia Pacific is estimated to grow over a CAGR over 8.5% during 2018-2024.

Urology Surgical Instrument Market: Competitive Dynamics

Companies, such as KARL STORZ Gmbh & Co, Olympus Corporation, Coloplast A/S, Richard Wolf Gmbh, Cook Medical, Medtronic Plc., Coopersurgical, Inc., and Boston Scientific Corporation are the key players in manufacturing urology endoscopes which are essential for global urology surgical instrument market. In terms of product offerings, KARL STORZ Gmbh& Co is the major player in the market, providing various urology surgical instruments. It offers a range of urology surgical instruments, such as endoscopes, videoscopes, borescopes, flexoscopes, and cameras.

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This release was published on openPR.