Global Urology Surgical Instrument Market is Driven by Increasing Prevalence of Kidney diseases

The global urology surgical instrument market was valued at $7,204.4 million in 2015 and it is expected to grow at a CAGR of 8.3% during 2016 - 2022. The urology surgical instrument market is growing due to increasing geriatric population, increasing prevalence of kidney diseases, and growing cases with urinary tract infections. In addition, increasing healthcare expenditure resulting in improvement in surgical infrastructure is further driving the market growth.

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Among the various product types of urological surgical intrument, consumables and accessories accounted for the largest market in the global market in 2015, and it is expected to witness 8.6% CAGR during 2016 – 2022. Among the various applications, chronic kidney disease segment is expected to witness the fastest growth during the forecast period.

Urology surgical instrument such as stone baskets/retrieval devices helps in breakdown of kidney stones into small fragments and allow them to pass from the body without any surgery. In addition, advantageous features posed by minimally invasive surgeries using a laparoscope over traditional urologic surgical procedures is further resulting in its increased demand. Open surgeries or traditional surgeries involve the formation of large incisions, which require long healing duration and also lead to long stay at hospital. In addition, laparoscopic urologic procedures lead to less blood loss, quick recovery time and less hospital stay. Also, it leads to less post operation discomfort, and patients can resume their daily activities early, in comparison to those who had undergone traditional urologic surgeries.

However, the high cost urology surgical instruments are the key restraint in the growth of the market worldwide. The high cost of urology endoscopes and endovision systems limits the affordability of the users, hampering the growth of the market.

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Some of the key companies operating in the global urology surgical instrument market include Richard Wolf GmbH, Karl Storz GmbH & Co. Kg, Olympus Corporation, Coopersurgical, Inc., Cook Medical Incorporated, Boston Scientific Corporation, Coloplast, Medtronic PLC, Stryker Corporation, Teleflex Incorporated and Conmed Corporation.

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