A report by Transparency Market Research, titled, “Urology Lasers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” projects this market to bode well during the upcoming years owing to rising instances of urinary infection cases and other urological issues.
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Changing lifestyles that involve excessive consumption of unhealthy drinks as well as less intake of water might lead to urinary complications, thus demanding the use of urological lasers for treatment. Hence, such lifestyles are prime causes for the market to experience substantial growth in recent times. Urology lasers are known to be highly efficient when used during treatment of urinary ailments in contrast to surgery and other alternatives. The lasers are minimally invasive, cause less or no pain, and can provide pin-point accuracy for effectively operating on the targeted spot. Such features makes the laser equipment highly preferred by healthcare specialists. Thus, from an overall perspective these reasons are chiefly responsible for driving the global urology lasers market’s growth.
Rapid advances in lasers and fiberoptics has made it easier to examine as well as treat urinary infections and other ailments, which otherwise was difficult in earlier times when surgery and medicines were the only two options. Such an ease has made healthcare specialists all over the world to trust laser treatments more than other alternatives, consequently driving the global urology lasers market. The increasing prevalence of chronic kidney disorders is also expected to propel the urology laser market’s growth in forthcoming years.
However, high costs initially needed to be borne by healthcare centers to embrace laser treatment procedures is retaining the global urology lasers market. Adoption of other alternatives such as external shock lithotripsy to treat urinary calculi is also expected to deter potential customers from opting for urology lasers, consequently hindering the market’s growth. 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 lasers market is spread across North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Of these, North America holds a leading position in terms of revenue gained owing to a high adoption of minimally invasive techniques such as urology lasers, along a strong healthcare infrastructure.
The global urology lasers market depicts a highly consolidated vendor landscape, thanks to the presence of few well-established players. Most players are focusing on attaining product differentiation, price regulation, and expansion of geographical reach, which are their three primary strategies. The competition is expected to further intensify as the number of new players entering the market increases. Biolitec AG, Boston Scientific Corporation, JenaSurgical GmbH, Olympus Corporation, Quanta System S.p.A., Richard Wolf GmbH, Lumenis, LISA Laser Products OHG, EMS, and Convergent Laser Technologies are some of the chief players operating in the global urology lasers market.