Selbyville, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) --
Urology Lasers Market size is expected to be worth USD 2 billion by 2032. The ongoing advancements in laser technology, including improved fiber optics and control mechanisms will largely contribute to the acceptance of urology lasers.
Lately, several industry participants are investing in R&D activities to create advanced laser systems that focus on improved precision, reduced invasiveness, and enhanced patient outcomes. To that end, the rising emphasis on meeting the evolving healthcare demands will augment the industry outlook.
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For instance, in February 2023, Rhein Laser Technologies Ltd., introduced UroFiberTM 150Q, the first-ever 150W SuperPulsed thulium fiber laser system for managing both stone lithotripsy and BPH enucleation.
Diode Laser System to gain significant traction
Urology lasers market from the diode laser system type segment generated substantial revenue in 2022 and is estimated to foresee notable expansion through 2032 due to benefits, such as enhanced versatility and precision. On account of their exceptional energy absorption in water-rich tissues, diode laser systems are well-suited for various urological procedures, including the treatment of benign prostatic hyperplasia and kidney stones. Furthermore, the surging need for minimally invasive solutions, reduced post-operative discomfort, and quicker recovery times.
Increasing adoption in specialty clinics
Urology lasers market from the specialty clinics end-use segment is projected to record substantial increase between 2023 and 2032 due to the strong presence of advanced laser-based treatments for urological conditions. The emerging trend of outpatient procedures, reduced hospital stays, and enhanced precision with laser technology has pushed healthcare providers to implement new programs at specialty clinics to meet the escalating consumer healthcare demands. To cite an instance, in March 2023, USA Health and the Frederick P. Whiddon College of Medicine worked together to launch a residency program in urology to educate doctors in the diagnosis and treatment of urologic illnesses.
Asia Pacific to provide lucrative progression opportunities
Asia Pacific held a sizable share of the urology lasers market in 2022 and is poised to grow at a notable progress rate through 2032 driven by the improving healthcare infrastructure. The rising disposable incomes in countries, such as China and India have made advanced urology laser procedures more accessible to the larger patient pool, providing potential expansion opportunities to the industry players. For instance, in September 2022, Advanced MedTech Holdings, a leader in integrated urology, strengthened its position in China by acquiring a controlling stake in WIKKON, the Chinese frontrunner in urology and shock wave treatment equipment. Furthermore, the booming medical tourism sector.
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Urology Lasers Market Participants
The competitive landscape of the urology lasers industry includes leading companies, such as Lumenis Ltd., Olympus Corporation, Cook Medical, Richard Wolf GmbH, Stryker Corporation, KARL STORZ SE & Co. KG, ForTec Medical, Inc., Boston Scientific Corporation, Quanta System S.p.A., Biolitec AG, El.En. S.p.A., Medtronic plc, and Ethicon Inc. (Johnson & Johnson) among others. These industry players are intensifying their efforts on innovations and product portfolio expansions for strengthening their global presence. For instance, in February 2023, Boston Scientific Corporation received FDA 510(k) clearance for LithoVueTM Elite Single-Use Digital Flexible Ureteroscope System, the first ureteroscope system with the capacity to monitor intrarenal pressure in real-time during ureteroscopy treatments.
Partial Table of Contents (ToC) of the report:
Chapter 3 Urology Lasers Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Technological innovations and advancements
3.2.1.2 Increasing incidence of chronic and urological diseases
3.2.1.3 Increasing demand for minimally invasive procedures
3.2.1.4 Rise in geriatric population
3.2.2 Industry pitfalls & challenges
3.2.2.1 Dearth of skilled professionals
3.2.2.2 High cost of laser systems
3.3 Growth potential analysis
3.3.1 By type
3.3.2 By application
3.3.3 By end-use
3.4 COVID-19 impact analysis
3.5 Technology landscape
3.6 Regulatory landscape
3.6.1 U.S.
3.6.2 Europe
3.7 Porter's analysis
3.8 PESTEL analysis
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