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Urology Surgical Instruments Market Report
Urology Surgical Instruments Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
The Urology Surgical Instruments market is projected to grow from USD 10.61 billion in 2021 to USD 18.64 billion by 2028 at a CAGR of over 8.28% during the forecast period of 2028.
Chronic kidney disorders mainly occur due to the injury to the kidney’s filtering units, known as nephrons. This damage causes disturbance in the body’s ability to eliminate wastes as well as to carry out other functions. Urology surgical instruments are medical devices, which are specifically designed for the diagnosis, treatment, correction, and different procedures related to the urology department of healthcare applications.
Significant growth in the healthcare expenditure levels for the development of surgical & healthcare infrastructure resulting in improvement of the quality of healthcare being provided from these facilities augments the market growth. Also, the growing prevalence of kidney diseases & urinary tract infections is another factor boosting the industry growth. In addition, rising investments and grants from government bodies have positively influenced the product demand.
The COVID-19 pandemic has adversely affected the urology surgical instruments industry as a result of a shift in medical care towards rising coronavirus-infected patients. Moreover, fear of visiting clinics and postponement of appointments further affected the product demand, amid the pandemic.
Key players operating in the urology surgical instruments market are-
Here is the list of the group of customers that the urology surgical instruments market hopes to have the greatest opportunity to convert-
Based on product, the global urology surgical instruments market has been classified into endoscopes, envision systems, peripheral systems, and consumables & accessories. Under these, the consumables & accessories segment held the largest market share in 2021 and is likely to grow at a considered CAGR during the forecast period. This is mainly attributed to developments in minimally invasive surgeries, rising surgical intervention for urology conditions, and the increasing prevalence of chronic kidney disorders.
By region, the North American market held a significant market share of around 40.8% in 2021 and is projected to grow at a healthy CAGR in the coming years. The increasing aging population, positive reimbursement scenario, rising urology equipment purchases by hospitals, growing incidences of urology cancers & disorders, surge in several urologists, and rising healthcare spending on urology disorders, further proliferate the regional market growth in the coming years.
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Market Segmentation |
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Figures & Tables |
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Company Profile |
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The market is segmented in the following ways:
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
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The urology surgical instruments market is expected to witness an impressive growth of 8.28% CAGR in the coming years.
Olympus (Japan), Karl Storz (Germany), Richard Wolf (Germany), Coloplast (Denmark), Cook Medical (US), Boston Scientific (US), Medtronic (Ireland), Teleflex (US), Stryker (US), and Coop-ersurgical (US) are among the key players in the surgical instrument market.
The urology surgical instruments market size is expected to reach USD 18.64 billion in 2028.
The consumables & accessories segment held the largest share in the urology surgical instruments market in 2021.
North America is expected to grow at a healthy CAGR in the urology surgical instruments market in the next five years.
Urology Surgical Instruments companies, Urology Surgical Instruments distributors, Medical companies, Government organizations are the target audience in the urology surgical instruments market.
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