The Global Urethral Stricture Market is anticipated to touch USD 1.53 billion by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 7.30% CAGR during the assessment period (2018-2023). Urethral stricture is a condition caused to the urethra due to scarring or injury which restricts normal urine excretion from the body. The restriction can cause numerous problems, including infection and inflammation.
Increasing incidence of urinary incontinence (UI) is the primary driver of the market. Demand for cost-effective treatments for treating Urethral Stricture coupled with development of minimally invasive surgeries in India and China are likely to fuel market demand over the forecast period. Stringent regulations and lack of awareness among patients can restrain market growth. But prevalence of urological disorders and adoption of advanced methods can offer new opportunities for growth.
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Urolithiasis is also emerging as a major concern. The daunting figures, published by the National Kidney Foundation in 2017, exhibit that in the U.S., 73 million adults are affected by high blood pressure whereas, 29 million adults have high diabetes. These are physical anomalies that can culminate into urolithiasis, triggering the demand in the urethral stricture market.
Key Players
Market Research Future (MRFR) recognizes the following companies as the key players in Urethral Stricture Market: There are plenty of large and small market players which operate in this market all over the globe.
- Boston Scientific Corporation,
- Cook Medical Incorporated,
- Olympus Corporation,
- Bard Medical, Inc.,
- Stryker Corporation,
and others are noteworthy players in the Urethral Stricture market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.
The report offers comprehensive profiles on these market players and assesses their current standing in the Urethral Stricture market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.
Segments
According to the report, the urethral strictures market is segmented on the basis of type, condition, cause, treatment, gender, end-user, and region.
By type, the market is segmented into posterior urethral stricture and anterior urethral stricture. The posterior urethral stricture segment currently holds the maximum market share and likely to continue its dominance throughout the forecast period. Growing injuries such as pelvic fractures, and an increasing number of patients undergoing treatment for prostate cancer drives the posterior urethral stricture market across the globe.
Based on condition, the market is segmented into hypospadias & epispadias, urinary incontinence, and others. The hypospadias & epispadias segment was worth more than USD 468.8 million in 2017. Increasing birth defects, elevating hormonal malfunctions, and large male population are factors expediting the market expansion across the globe.
By cause, the market is segmented into iatrogenic, idiopathic, infection-induced, and trauma. In 2017, the iatrogenic segment accrued over USD 284.0 million. Primary drivers for the growth of iatrogenic segment are increasing public awareness about the disease, growing pharmaceutical companies, and advancement in medical technology.
Based on treatment, the market is segmented into urethral dilation, direct vision internal urethrotomy (DVIU), urethroplasty, and others. The urethroplasty market is leaping ahead due to evolving surgical treatments and a growing number of skilled medical surgeons.
By gender, the market pertains to male and female. The male segment held the largest market share in 2017. Anatomically, males are more prone to urethral strictures than females due to the presence of longer urethras and being more susceptible to injury and infections.
The end-users in the urethral strictures market are hospitals, urologic clinics, ambulatory surgical centers, and others. The hospitals segment is expected to retain its dominance over the market share throughout the forecast period.
Regional Outlook
Geographically, the market is spread across North and South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The America region presently holds the largest market share and will continue its lead in the coming years. The market growth in the region is due to sophisticated treatment provided by health facilities in both the United States (U.S) and other Latin American countries. Also, the medical device industry is thriving and holds massive potential for further growth in the US. Moreover, innovative technology and frequent product development in the region give way to the growth of the market. Recently, surgeons in North America developed a new smartphone-based tool that detects a urethral blockage, which is convenient for patients to test themselves for the condition at home.
The Europe market is expected to grow significantly during the forecast period owing to owing to the high availability of advanced treatment facilities and healthcare expenditure. Furthermore, increasing population prone to diseases also fuel the market growth.
Asia Pacific market’s upward trajectory can be attributed to growing expensive equipment and infrastructure, and increasing research and development initiatives to improve the quality and effectiveness of new and modern instrumentations. Countries such as India and China contribute massively to the market expansion owing to the rapid development of healthcare infrastructure and surging demand for diagnostic and treatment services.
On the other hand, the Middle East and Africa market is expected to experience a steady growth rate driven by the growing availability of new and advanced diagnostic and treatment methods.
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