SAN JOSE, Calif., April 30, 2018 (GLOBE NEWSWIRE) -- The latest market report published by Credence Research, Inc. “North America Cystoscopes Market: Growth, Future Prospects, and Competitive Analysis, 2018 -2026” the North America cystoscopes market will be valued at US$ 207.2 Mn by 2026.
Market Insights
North America cystoscopes market valued at US$ 135.1 Mn in 2017 and exhibited steady growth with a CAGR of over 4% during the forecast period. Minimal invasion & shorter procedural time, increased research activities facilitating product precision and technological development in healthcare sector complimented with high disposable income catalyze the overall market growth. Additionally, growing prevalence of bladder cancer and kidney stones in North America has increased the demand for enhanced diagnostic techniques with minimal invasion. The American Cancer Society estimates that 81,190 new cases of urinary bladder cancer to be diagnosed in 2018 making bladder cancer as the fourth common cancer in the country; while the Canadian Cancer Society recorded 8,900 Canadians diagnosed with bladder cancer in year 2017. As per an article by Justin B. Ziemba and Brian R. Matlaga published in 2017 (Epidemiology and economics of nephrolithiasis; Investig Clin Urol. 2017 Sep; 58(5): 299–306.), nephrolithiasis (kidney stones) was prevalent in 10.6% of men and 7.1% of women in the U.S. Advent of new techniques such as Blue Light Cystoscopy (BLC) with Cysview has enhanced the diagnosis of bladder cancer thus increasing the demand for cystoscopes. Rising adoption of BLC technique by industrial players namely, Karl Storz GmbH & Co. KG and Olympus Corporation further contributes to the lucrativeness of this market.
Based on product types, video cystoscopes and non-video cystoscopes form the cystoscopes market, wherein video cystoscopes held largest market share in 2017. Lack of patient discomfort and enhanced diagnostic & imaging features will increase the demand for video cystoscopes during the during the forecast period from 2018 to 2026. However, the demand for non-video cystoscopes shall continue in the market, particularly in clinics and cost-sensitive end-users in the market. Of the end-users analyzed (hospitals, ambulatory care services and clinics), hospitals dominated the market in 2017 and expected to continue this trend throughout the forecast period from 2016 to 2026.
The countries analyzed in North America market are U.S. and Canada, of which U.S dominated the North America cystoscopes market while Canada exhibited fastest CAGR during the forecast period. The supremacy of U.S. is due to increased availability of cystoscopy techniques, skilled professionals, growing prevalence of bladder cancer and structured reimbursement policies.
Various market leaders contribute to the strong position of North America cystoscopes market growth. Some of such players include Cogentix Medical, Inc., Fujifilm Corporation, Karl Storz GmbH & Co. KG, Laborie Medical Technologies, Inc., Olympus Corporation, PENTAX Medical Company, Richard Wolf GmbH, and Stryker Corporation.
Key Market Movements:
- North America cystoscopes market witnessed steady growth with a CAGR of over 4% during the forecast period from 2018 to 2026
- Rising prevalence of bladder cancer & kidney stone coupled with growing awareness of cystoscopy ensures lucrativeness to this market
- Hospitals dominated the market in 2017 owing to availability of skilled professionals and higher patient trust on hospital procedures
- Growing demand for video cystoscopes owing to its cost efficiency and enhanced diagnostic benefits catalyzes the overall North America cystoscopes market
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/north-america-cystoscopes-market
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