The global urology laser surgical devices market size is poised to reach USD 129.16 million by 2023, according to a new report by Technavio, progressing at a CAGR of close to 7% during the forecast period.
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“Vendors in the market are increasingly focusing on M&A activities to expand their product portfolio. The acquisition of other vendors will help them to expand their geographic presence and add advanced products and novel technologies to their portfolio. Thus, the increase in M&A across the value chain will drive market growth,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the increasing prevalence of urological disorders. In addition, new product and technology launches are anticipated to further boost the urology laser surgical devices market during the forecast period.
There has been a significant increase in the number of urological surgical procedures using laser devices, due to an increase in the prevalence of urological disorders, such as urolithiasis and nephrolithiasis. Moreover, metabolic disorders, such as diabetes and hypertension, also increase the risk of chronic kidney diseases. This development is encouraging research institutes to conduct R&D activities for the development of innovative technologies. Thus, the increasing prevalence of urological disorders will drive the growth of the urology laser surgical devices market during the forecast period.
Vendors in the market are increasingly focusing on expanding their product portfolio by launching new laser systems and novel technologies. For instance, Lumenis introduced its patented technology at annual meetings of the Urologists Associations in the US and Europe. Moreover, regulatory approvals are also helping vendors to strengthen their geographic presence and increase sales volume. Thus, product and technology launches will further drive the growth of the market.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- biolitec AG
- Boston Scientific Corp.
- El.En. Spa
- Olympus Corp.
- XIO Group
Market Segmentation by Type:
The Urology Laser Surgical Devices Market can be broadly categorized into the following type segments:
- Portable laser surgical devices
- Table-top laser surgical devices
Key Regions for the Urology Laser Surgical Devices Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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