The global urology endoscopes market size is anticipated to grow owing to increasing cases of urological diseases across several economies. Fortune Business Insights, in its latest report, titled, “Urology Endoscopes Market Size, Share & Industry Analysis, By Product Type (Cystoscopy, Ureteroscopy, Others), By Application (Urethral Malignancies, Urinary bladders, Urolithiasis, others), By Modality (Disposable, Re-usable), By End User (Research and Academic Institutes, Ambulance Surgical Centers, Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2026.”Predicts expansion for the market in the forthcoming years.
Endoscopy is a medical procedure that involves insertion of a long tube inside the human body to observe internal organs and tissues. It is generally used to monitor, detect, and diagnose urological infections in addition to treating them. Endoscopy is favorable in diagnosis and treatment of diseases such as transurethral resection of the prostate, ureteral obstruction percutaneous, and other urological infections. The primary reason why the doctor advises endoscopy includes investigation, confirmation, and prompt diagnosis, and fast treatment of urological infections. According to a study by the Harvard University, at least 1 in 10 women above the age of 40 will experience urinary tract infection once in a lifetime. Rising prevalence of diseases such as urinary tract infection, urinary injuries to the bladder, and others is expected to drive the growth of the market during the forecast period.
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What does the Urology Endoscopes Market Report include?
The market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, it contains an exhaustive study of the landscape comprising of key players, strategies used by them, and recent product launches for the market growth between 2019 and 2026.
Drivers and Restraints:
Increasing Incidents of Liver Cancer to Drive the Market
According to a report by the U.S. Centers for Disease Control and Prevention (CDC), the death rate owing to liver cancer is estimated to be at 15 per 100,000 men, and 6.3 per 100,000 women in the US. Increasing cases of liver cancer across several economies is expected to bode well for the growth of the market during the projected horizon. In addition to this, the report states that, the rising deaths by liver cancer was found to be the most in adults aged 65 and older. Furthermore, increasing geriatric population in the developing economies will drive the growth of the market during the forecast period.
Increasing Prevalence of Urinary Disorders to Augur Growth in North America
Among the regions, North America is expected to witness immense growth and remain at the forefront during the forecast period. This is attributable to factors such as rising healthcare expenditure, increasing prevalence of urological disorders, and early adoption of technology for treating diseases. Europe, on the other hand, is anticipated to be the second-most leading region owing to development of health infrastructures in the forthcoming years.
Asia-Pacific is expected to grow significantly backed by government initiatives to promote awareness for cancer treatments, and ageing population. The market in Latin America and the Middle East and Africa is likely to register promising growth owing to increasing healthcare awareness between 2019 and 2026.
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Olympus Launch of New Endoscope System to Promote Growth
Olympus Corporation, a Japan-based company, on 29th of March 2019, announced its launch of new endoscopy system, PowerSpiral. The system is set to be introduced in Europe, as well as several parts of Asia-Pacific. Being the first foot-switch-operated system, it is beneficial in diagnosis of conditions affecting the digestive tract. Product launches by the companies operating in the market will contribute to the growth of the market during the forecast period. The companies are striving to gain maximum urology endoscopes market revenue to maintain market presence and outdo the fierce competition that will drive the growth of the market during the projected horizon. Below is an industrial development for the market:
October 2016: KARL STORZ announces that it is launching a new endoscopic NIR/ICG Fluorescence imaging system. This system will efficiently enhance minimally invasive surgery procedures.
List of Companies Operating in the Market:
Boston Scientific Corporation
Cook Medical Inc.
Richard Wolf GmbH
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