A report by Transparency Market Research, titled, “Urology Surgical Instruments Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” projects this market to bode well during the upcoming years owing to rising instances of kidney stones, urinary infections, and other urological ailments.
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Chronic kidney diseases are on the prowl on an extensive basis, and many of these might turn fatal. A dire need for treatment of such maladies demands large-scale use of relevant surgical instruments, which has further boosted the urology surgical instruments market’s growth. Changing lifestyles involving eating junk food, consuming beverages with artificial sweeteners, carbonated drinks, and excessive smoking and alcohol consumption might cause extensive stress to act on the urinary system of an individual. Such stresses accumulated over a long duration might cause complications in the system, therefore bringing the use of surgical instruments into the picture.
The consequent urinary problems caused could demand immediate treatment, thus putting a large onus on the use of surgical devices, thereby propelling the global urology surgical instruments market’s growth. A rise in the number of hospitals and other healthcare centers, as well as growing investments made by private and public organizations for improving healthcare infrastructure are a few other factors substantially driving the global urology surgical instruments market. Favorable initiatives such as funds and grant schemes from several governmental bodies is also expected to make the market depict a bright future in the upcoming years.
However, high costs initially needed to be borne by healthcare centers to embrace the laser treatment procedures is restraining the global urology surgical instruments market. Nevertheless, rapid innovations and advancements in the field of urological studies and treatment procedures is expected to offset some of the restraints in future.
Region-wise, the global urology surgical instruments market is spread across North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Of these, North America is holds a leading position in terms of revenue gained owing to a high adoption of surgery techniques along with a strong healthcare infrastructure in the region.
The global urology surgical instruments market depicts a highly consolidated vendor landscape, thanks to the presence of a few well-established players. Most businesses are focusing on attaining regulation of product prices, product differentiation, and expansion of geographical reach. These are three primary strategies implemented by the most companies operating in the market. The competition is expected to further intensify as the number of new players entering the market is projected to increase in the next few years.
ConMed Corporation, Coloplast A/S, CooperSurgical, Inc., Stryker Corporation, Medtronic plc, Cook Medical Inc., KARL STORZ GmbH & Co. KG, Boston Scientific Corporation, Olympus Corporation, Teleflex incorporated, and Richard WOLF GmbH are key players operating in the global urology surgical instruments market.