Growing Demand for Minimally Invasive Solutions to Dominate Urethral Stricture Market
The global urethral stricture market is expected to grow at a strong 7.3% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global urethral stricture market is expected to reach a valuation of USD 1.53 billion by 2023, according to the MRFR report.
The report presents a detailed analysis of the global urethral stricture market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global urethral stricture market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global urethral stricture market are also studied in the report and projections are made for the growth trajectory of each distinct component. The various segments and sub-segments within the global urethral stricture market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global urethral stricture market and provides a detailed look at the various competitive strategies employed by players in the global urethral stricture market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
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Urethral strictures are a condition where the urethra narrows down, making it harder for the individual to pass urine. It becomes painful to pass urine due to urethral strictures, as the urethral canal is narrowed. Pelvic bone trauma is the most common cause of urethral strictures. This has driven increasing research into relieving urethral strictures, as it can be a highly painful condition for the sufferer. Increasing research into prostate cancer is also likely to be a major driver for the urethral strictures market, as urethral strictures have emerged as a key side effect of innovative therapies for prostate cancer. Innovations in prostate cancer therapy are likely to result in increasing development of solutions to the side effect of urethral strictures.
The increasing geriatric population around the world is also likely to be a major driver for the global urethral strictures market, as urethral strictures are most common in men above 55 years of age. This has driven interest in developing minimally invasive and cheap solutions for urethral strictures, as minimally invasive surgeries are preferred by the geriatric demographic. Minimally invasive surgical solutions for urethral strictures are likely to become increasingly popular in the coming years.
Competitive Analysis:
Leading players in the global urethral strictures market include
- Stryker Corporation,
- Bard Medical Inc.,
- Olympus Corporation,
- Cook Medical Inc.
- Boston Scientific Corporation.
Major players in the global urethral stricture market are likely to focus on the development of minimally invasive surgical solutions for urethral strictures in the coming years. This is likely to be a popular competitive strategy for players in the urethral stricture market, as major consumer demographics prefer minimally invasive surgeries.
Segmentation:
By type, the urethral strictures market has been segmented into anterior and posterior urethral strictures. The posterior urethral stricture segment is expected to be the biggest revenue generator for the market till 2023.
By condition, the market is segmented into hypospadias & epispadias, incontinence, and others.
By gender, the market is segmented into male and female. The male segment accounted for a large market share in 2017 and possesses the potential to dominate the market till 2023.
By cause, the market is segmented into infection-induced, idiopathic, iatrogenic, and trauma. The iatrogenic segment was estimated to be worth USD 468.8 million in 2017 and is likely to remain a leading segment over the forecast period.
By treatment, the market is segmented into direct vision internal urethrotomy (DVIU), urethroplasty, urethral dilation, and others.
Major end users in the global urethral stricture market include ambulatory surgical centers (ASCs), urologic clinics, hospitals, and others. The hospital segment is touted to remain the top end user till 2023.
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Regional Analysis:
The Americas holds the largest share in the global urethral stricture market, followed by Europe and Asia Pacific. The latter is expected to exhibit a rapid growth rate over the forecast period.
In the reports of MRFR, the global urethral structural market has covered the leading regions for their market share of North America, which includes the U.S., Canada, and Mexico, Europe; which includes France, Italy, Germany, the U.K., Asia Pacific; which includes China, India, Japan, South Korea, and the Middle East & Africa; which consists of the Middle East and Africa.
Reports tell that North American region presently holds the largest market share and will continue to be on the same position in the years to come. The growth of the market here is attributed to the practice of sophisticated treatment in several health facilities in the US and other countries. Here, it has been observed that medical facilities are flouring rapidly due to continuous research and developments happening. By this, medical provisions hold massive potential for the future growth of the market in the US. On the other hand, technology has also supported the constant product development which is another reason for the growth of the market. Recently, with the usage of smartphone-based tools that detect urethral blockage is highly being used for patients for testing and curing while residing at home.
Whereas, the Europe market is also anticipated to proliferate suggestively during the forecast period owing to the high accessibility of advanced treatment facilities and healthcare expenditure in a larger scale is making ways for the market to expand substantially.
The market of global urethral structural in the Asia Pacific is observed to gain upward trajectory, which is attributed to growing expensive equipment and infrastructure, along with increasing research and development initiatives to progress the quality and effectiveness of new and modern instrumentations. Countries such as India and China are contributing massively to the market expansion due to the swift expansion of healthcare infrastructure and surging demand for treatment services.
Furthermore, the Middle East and Africa market are also expected to experience a steady growth rate driven by the mounting availability of new and advanced diagnostic and treatment methods.
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