The global urology surgical instruments market is expected to reach USD 11.48 Billion by 2021 from USD 7.74 Billion in 2016, growing at a CAGR of 8.2%.
The global urology surgical instruments market is segmented on the basis of product, application, and region. By product, the market is categorized into urology endoscopes, endovision systems, peripheral instruments, and consumables and accessories. The consumables and accessories segment is expected to command the largest share of the global urology surgical instruments market, by product, in 2016, and is also expected to grow at the highest CAGR.
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North America is expected to account for the largest share of the market in 2016. The large share of the North American region can be attributed to the favorable reimbursement scenario and government initiatives to combat prostate cancer in the U.S., investments by hospitals to upgrade surgical/operating rooms and purchase new urology surgical equipment, and increase in the number of ambulatory surgical centers (ASCs) in the U.S., the high incidence rate of urological cancer and the new funding model for Canadian hospitals. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
The urology endoscopes segments described in the report include laparoscopes, ureteroscopes, nephroscopes, resectoscopes, and cystoscopes. The endovision systems segments described in the report include endoscopic light sources, endoscopic cameras, wireless monitors and displays, and camera heads.
On the basis of type, the peripheral instruments market is further segmented into insufflators and endoscopy fluid management systems. The insufflators segment is expected to hold the largest share and grow at the highest CAGR during the forecast period . This large share and high growth can be attributed to the growing number of laparoscopic procedures and technological advancements.
Major players in the urology surgical instruments market include Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Coloplast A/S (Denmark), Cook Medical Inc. (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Teleflex incorporated (U.S.), Stryker Corporation (U.S.), CooperSurgical, Inc. (U.S.), and ConMed Corporation (U.S.).
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