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Urology Medical Lasers Global Market Report 2021: COVID 19 Growth And Change to 2030

ReportLinker
·4 min read

Major players in the urology medical lasers market are Olympus Corporation, Ethicon Inc. , Stryker Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Cook Medical Incorporated, Karl Storz SE & Co.

New York, May 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Urology Medical Lasers Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06071104/?utm_source=GNW
KG, Lumenis Ltd., Becton Dickinson and Company, and OmniGuide Holdings Inc.

The global urology medical lasers market is expected to grow from $0.871 billion in 2020 to $0.917 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.148 billion in 2025 at a CAGR of 6%.

The urology medical lasers market consists of sales of urology medical lasers and related services by entities (organizations, sole traders, and partnerships) that manufacture urology medical lasers.Medical lasers are a non-invasive and efficient source of light used to tissue treatment that provides fast healing without discoloration or scarring.

Urology medical lasers are used in the treatment of medical conditions related to the urinary system such as urinary stones, benign prostatic hyperplasia (BPH), bladder or prostate cancer, and traumatic injuries.

Major players operating in the market are continuously focusing on developing new products incorporating advanced technology to meet the requirement of medical professionals.For instance, in June 2020, Olympus Corporation, a Japanese manufacturer of innovative medical and surgical products, launched the Soltive SuperPulsed Thulium Fiber Laser System designed for stone lithotripsy and soft tissue applications in urology.

The SuperPulsed thulium fiber laser dust stones into very fine particles and faster than other laser systems.

The urology medical lasers market covered in this report is segmented by laser type into holmium laser system; diode laser system; thulium laser system; others, and by application into benign prostatic hyperplasia (BPH); urolithiasis; non-muscle-invasive bladder cancer (NMIBC); others.

In April 2018, Olympus Corporation, Japan-based manufacturer of innovative technology solutions for medical and surgical procedures, acquired Lithotripsy system design and production technology from Cybersonics, Inc. for an undisclosed amount. The acquisition is expected to help Olympus Corporation to expand manufacturing and enhancing treatment for stone disease and enable the company to improve clinical outcomes, reduce costs, and enhance the quality of life of patients. Cybersonics, Inc. is a USA-based company engaged in designing and developing medical devices that utilize ultrasonic energy. The medical devices developed by the company include high power ultrasonic systems used in the field of neurosurgery, urology, and peripheral vascular surgery.

Rising cases of urological disorders contribute to the demand for the urology medical lasers market.Growing urological cases including bladder cancer and prostate diseases among others are boosting the demand for minimally invasive surgeries and related devices.

According to the American Institute for Cancer Research’s statistics on bladder statistics, bladder cancer is the sixth most common cancer in men and the 17th most common cancer in women with almost 550,000 new cases in 2018, globally. The surge in urological diseases and conditions increases the demand for urological surgeries and supports the growth of the urology medical lasers market.

Low healthcare expenditure in developing economies restrains the urology medical lasers market.The healthcare expenditure in emerging countries is low, limiting access to healthcare facilities.

For instance, in 2018, healthcare expenditure as a percentage of gross domestic product (GDP) in Indonesia and India was 3.1% and 3.6% respectively in comparison with 16.9% in the USA. The low healthcare expenditure is likely to limit the growth of the urology medical lasers market in developing economies.


Read the full report: https://www.reportlinker.com/p06071104/?utm_source=GNW

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