Plasma Resectoscope Market Research Report 2023 | InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Plasma Resectoscope Market- (By Product Type (Monopolar Plasma Resectoscope, Bipolar Plasma Resectoscope), By End User (Hospitals, Ambulatory Surgery Centers, Specialty Clinics, Others), By Application (Transurethral Resection of the Prostate (TURP), Bladder Tumor Resection, Urethral Stricture Resection, Others), By Endoscopic Visualization System Integration (Non-integrated Plasma Resectoscope, Integrated Plasma Resectoscope), By Distribution Channel (Direct Sales, Distributor Sales, Recent Developments, New product launches)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Plasma Resectoscope Market is valued at US$ 287.46 Mn in 2022, and it is expected to reach US$ 517.47 Mn by 2031, with a CAGR of 6.9% during a forecast period of 2023-2031.

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Plasma resectoscopes are instruments used in transurethral resection of the prostate (TURP) surgeries, a subspecialty of urology. Patients with benign prostatic hyperplasia (BPH) can have excess prostate tissue removed with the help of a plasma resectoscope, a specialized tool that uses plasma energy. The benefits of this less invasive approach over conventional surgery include less blood loss and a quicker return to normal activities. An ageing population, a rising incidence of benign prostatic hyperplasia, and a preference for less invasive surgical techniques are all factors propelling the plasma resectoscope market. The market is enlarging due to technological developments and product innovations that aim to boost the efficiency of procedures and the quality of care patients get. The rising incidence of benign prostatic hyperplasia (BPH), characterized by prostate gland enlargement, is a major factor propelling the growth of the plasma resectoscope market. Procedures utilizing the Plasma Resectoscope to treat benign prostatic hyperplasia can be costly compared to other treatments, hindering the market. The development of regulations grows the market demand for plasma resectoscopes and ultimately increases competition, thereby boosting market growth.

List of Prominent Players in the Plasma Resectoscope Market:
• Olympus Corporation
• KARL STORZ SE & Co. KG
• Richard Wolf GmbH
• Stryker Corporation
• Medtronic plc
• Ethicon (Johnson & Johnson)
• Braun Melsungen AG
• Boston Scientific Corporation
• Cook Medical
• ROCAMED
• Maxer Endoscopy GmbH
• Vimex Endoscopy
• PENTAX Medical (HOYA Corporation)
• Hunan Handlike Minimally Invasive Surgery Co. Ltd.,
• Optimed Medizinische Instrumente GmbH

Market Dynamics:

Drivers-
With the growing demand for plasma resectoscopes due to technological development and rising demand for non-invasive therapies, the industry is currently seeing a transition toward minimally invasive procedures. Plasma resectoscopes are a minimally invasive alternative to open surgery to treat benign prostatic hyperplasia. Plasma resectoscopes are growing in popularity because of their increased efficiency and effectiveness in surgical procedures and the availability of cutting-edge energy sources, imaging systems, and designs. The growth rate of the plasma resectoscope market will also be influenced by the availability of reimbursement for plasma resectoscope operations, which lessens patients' out-of-pocket expenses and encourages their uptake of less intrusive treatment methods expected to augment the growth of the global plasma resectoscope market.

Challenges:
The prime challenge is a lack of awareness of disease management and compliance with medication because of lockdowns and isolation in emerging countries, which is predicted to slow down the growth of the plasma resectoscope market. However, the plasma resectoscope procedure for benign prostatic hyperplasia might be quite pricey compared to alternative treatment options. Due to its expensive price tag, the plasma resectoscope may not be widely used, especially in countries with fewer medical facilities and stricter cost controls. The medication's associated negative effects will also hamper the development of the overall growth of the plasma resectoscope market over the coming years. The COVID-19 pandemic has triggered significant delays in the supply chain, fluctuations in the availability of pharmaceuticals and stock market. According to a recent update, the industries are facing unprecedented economic losses due to disruptions in global supply chains for key players operating in the global plasma resectoscope market. Distributors, suppliers and retailers have inventory but can't sell, and manufacturers must stop production to deal with the shutdown.

Regional Trends:
The market for plasma resectoscopes in North America is expected to have a significant dominance in terms of revenue. The predicted growth of the industry in the near future can be attributed to several factors. Firstly, there is a significant need for care services due to a large population in need of assistance. Additionally, the incidence of benign prostatic hyperplasia, a condition commonly associated with ageing, is expected to increase, further driving the demand for medical services. Lastly, the presence of advanced medical facilities and technologies also contributes to the potential growth of the industry.

Moreover, the area benefits from progressive reimbursement regulations, heightened recognition of the significance of minimally invasive procedures, and escalating research and development endeavours undertaken by key industry participants. These factors are anticipated to contribute to the expansion of the plasma resectoscope market in the region. Furthermore, Europe's significant presence in the market can be attributed to its well-developed economy and excellent medical facilities and systems. The primary reason for the advancements observed in the plasma resectoscope market can be attributed to the use of novel techniques by key industry participants. Additionally, the existence of prominent market participants and the increasing collaboration among major stakeholders to expand their market presence in the region create a favourable prospect for the worldwide plasma resectoscope market to thrive.

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Recent Developments:

• In July 2023, The HOYA Group's subsidiary, PENTAX Medical, recently declared the construction of a specialised endoscope manufacturing, research and development, and service centre in Shanghai, China. This centre will be operated under the name PENTAX Medical Shanghai Co., Ltd., with a specific focus on serving the Chinese market. The manufacturing facility will commence the production of PENTAX Medical endoscopic products specifically for the Chinese market.

• In January 2023, Olympus Corporation introduced VISERA ELITE III, a new surgical viewing platform designed for use in endoscopic treatments across a wide range of specialities. The VISERA ELITE III's integrated imaging capabilities make it possible for less invasive procedures like laparoscopic colectomy and cholecystectomy to be performed.

Segmentation of Plasma Resectoscope Market-
By Product Type-
• Monopolar Plasma Resectoscope
• Bipolar Plasma Resectoscope

By Application-
• Transurethral Resection of the Prostate (TURP)
• Bladder Tumor Resection
• Urethral Stricture Resection
• Others

By Endoscopic Visualization System Integration
• Non-integrated Plasma Resectoscope,
• Integrated Plasma Resectoscope

By Distribution Channel
• Direct Sales
• Distributor Sales
• Recent Developments
• New product launches

By End User-
• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics
• Others

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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