Global Urology Laser Market, By Type of Laser Used (Holmium Yttrium Aluminum Garnet (HO:YAG), Thulium Yttrium Aluminum Garnet (THU:YAG), Neodymium-doped Yttrium Aluminum Garnet (ND:YAG), Potassium Titanyl Phosphate Yttrium Aluminum Garnet (KTP:YAG), Diode Laser, Green Light Laser, Erbium: Yttrium Aluminum Garnet Laser, Lithium Borate, Others), Application (Benign Prostate Hyperplasia, Stones, Tumors, Strictures, Urolithiasis, Non-Muscle-Invasive Bladder Cancer, Other Application), Product (Solid- State Lasers, Gas- Fired Lasers), End- Users (Hospitals, Clinics, Others) – Industry Trends and Forecast to 2029.
Market Analysis and Size
Laser surgeries market has undergone rapid technological advancements in the past decade. Laser surgeries are considered as minimally invasive surgical procedures that involve no or minimal cuts and incisions on the patient’s body. There are different kinds of urology lasers in the market and the application of one kind depends of certain indications and conditions.
Data Bridge Market Research analyses that the urology laser market is expected to undergo a CAGR of 6.42% during the forecast period. “Benign Prostate Hyperplasia” accounts for the largest application segment in the urology laser market owing to the increasing geriatric population base globally.
Urology lasers are the medical devices or components that are used in the excision of tumours in urethra, bladder, ureter and kidneys. Urology lasers emit a tiny beam of light resulting in offering an accurate, precise and painless surgical treatment.
Urology Laser Market Dynamics
The rise in the prevalence of disorders
Surging prevalence of urology disorders especially in women is one of the major factors fostering the growth in demand for urology lasers. Therefore, rising incidence rate of prostate cancer, urinary tract infections (UTIs) and kidney and ureteral stones will create high demand for urology lasers.
Rising geriatric population base
Old age population is susceptible towards developing urology diseases. In the older years. High prevalence of chronic kidney disorders and increasing cases of stony concretions in urinary tract and bladder in old age people is propelling growth in the demand for surgical procedures, thereby, inducing growth in demand for urology lasers.
Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the demand for urology lasers. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities.
Additionally, surge in the personal disposable income level, rising awareness about the several advantages of urology lasers and increasing investment for the development of advanced and innovative technology, positively affect the market growth rate.
Furthermore, increasing focus of major manufacturers on integration and installation of advanced and modern technologies and growing demand for minimally invasive surgical procedures will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising awareness about the safety characteristics and effectiveness of these systems and reliability and safety features of these systems will further expand the urology laser market's growth rate in the future.
On the other hand, high cost associated with the research and development proficiencies, lack of awareness among the people in the underdeveloped economies regarding benefits, limited infrastructural facilities and high expenditure required for research and developmental activities are expected to obstruct market growth. Also, high cost of urology lasers and availability of substitute techniques/treatments/procedures are projected to challenge the market in the forecast period of 2022-2029.
This urology laser market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the urology laser market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Urology Laser Market
COVID-19 has had a significant impact on the urology laser market. Owing to the increased focus on the health of patients suffering from coronavirus, there were cancellations pertaining to the surgical services, which had unprecedented implications for the patients and surgical services. According to a report published in May 2020, during the peak of COVID-19, approximately 2.5 million urological benign surgeries were reported to be cancelled.
- Litho EVO laser system developed by Quanta System received a US FDA approval for use in urological surgeries in 2019.
Global Urology Laser Market Scope
The urology laser market is segmented on the basis of laser used, application, product and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type of Laser Used
- Thulium Yttrium Aluminum Garnet (THU:YAG)
- Holmium Yttrium Aluminum Garnet (HO:YAG)
- Neodymium-doped Yttrium Aluminum Garnet (ND:YAG)
- Potassium Titanyl Phosphate Yttrium Aluminum Garnet (KTP:YAG)
- Diode Laser
- Green Light Laser
- Erbium: Yttrium Aluminum Garnet Laser
- Lithium Borate
On the basis of laser used, the urology laser market is segmented into holmium yttrium aluminum garnet (HO:YAG), thulium yttrium aluminum garnet (THU:YAG), neodymium-doped yttrium aluminum garnet (ND:YAG), potassium titanyl phosphate yttrium aluminum garnet (KTP:YAG), diode laser, green light laser, erbium: yttrium aluminum garnet laser, lithium borate and others.
- Benign Prostate Hyperplasia
- Non-Muscle-Invasive Bladder Cancer
- Other Application
Based on application, the urology laser market is segmented into benign prostate hyperplasia, stones, tumors, strictures, urolithiasis, non-muscle-invasive bladder cancer and other application.
- Solid- State Lasers
- Gas- Fired Lasers
The product segment of the urology laser market is divided into solid- state lasers and gas- fired lasers.
Based on end-users, the urology laser market is segmented into hospitals, clinics and others.
Urology Laser Market Regional Analysis/Insights
The urology laser market is analysed and market size insights and trends are provided by country, type of laser used application, product and end-users as referenced above.
The countries covered in the urology laser market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the urology laser market because of the strong base of healthcare facilities and increasing prevalence of urological disorders, such as bladder cancer and urinary incontinence.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, ever-rising geriatric population base and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The urology laser market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for urology laser market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the urology laser market. The data is available for historic period 2010-2020.
Competitive Landscape and Urology Laser Market Share Analysis
The urology laser market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to urology laser market.
Some of the major players operating in the urology laser market are Boston Scientific Corporation, biolitec AG, Convergent Laser Technologies, EDAP TMS, Olympus Corporation, Richard Wolf GmbH., Cook, KARL STORZ SE & Co. KG, Lumenis., JenaSurgical GmbH, HealthTronics, Inc., Gigaalaser, Hyper photonics s.r.l., Limmer Laser GmbH, LISA Laser USA, Quanta System, Allengers, Koninklijke Philips N.V., BD, Abbott, Invacare Corporation and Inogen, Inc., among others.