Increasing technological advancement is anticipated to drive the market for urology laser fibers over the forecast period
According to a new market research study titled ‘Urology Laser Fibers Market to 2025 - Global Analysis and Forecasts by Type and Disease, the global urology laser fibers market was valued at US$ 685.3 Mn in 2017 and is estimated to reach US$ 870.5 Mn by 2025. The market is estimated to grow with a CAGR of 3.2% from 2018-2025.The report highlights the trends prevalent in the global urology laser fibers market and the factors driving the market along with those that act as deterrents to its growth. The improving technological advancements help to improve the urology laser fibers sector across the globe. However, stringent regulatory validation requirement are expected to act as a major challenges hindering the market growth at a certain extent.
Global urology laser fibers market, based on type was segmented into reusable laser fiber and disposable laser fiber. In 2017, the reusable lase fiber segment held the largest share of the market, by type. The disposable laser fiber segment is expected to grow at the fastest rate during the coming years since they are more cost effective and majorly used by the end users.
The increasing technological advancements in urology laser fibers has led to the extensive use for urology and mainly in the treatment of benign prostatic hyperplasia (BPH), urolithiasis, stricture disease and other novelapplications. Various key players are involved in developing the advanced and innovative technologies for the laser fibers. For instance, Clarion Medical Technologies has products that are made using the technology called as MOSES which is a patent protected technology developed by the Luminous Ltd. The technology is used by the holmium laser for the treatments of both urinary stones and BPH. In addition, recently in March 2018, Luminous Ltd has announced the release of the clinical evidence in lithotripsy and the primary clinical benefits for benign prostatic hyperplasia (BPH) treatments by using the MOSES Technology. Thus, the rise in the technological development are likely to contribute as one of the driving factor of the growth of the urology laser fiber market in the forecast period.
The market for urology laser fibers is expected to grow due to the rising prevalence of kidney stone and prostate diseases; technological advancements, and increasing geriatric population with rising symptoms of urological disorders. Moreover, rise in the investments for healthcare facilities in the developing economies are likely to have a positive impact on the growth of the urology laser fibers market in the coming years.
The major players operating in the urology laser fibers market include include Olympus Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Boston Scientific Corporation, Cook, C. R. Bard, Inc., biolitec AG, ForTec Medical, Lumenis, and Clarion Medical Technologies among others.
The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in May 2015, Olympus Corporation unveiled five of its products in the urology division, including the 200 Series Laser Fiber. Other products included, GLIDEWIRE Hydrophilic Coated Urologic Guidewire, ShockPulse- SE, UltraTrack Hybrid Guidewire, and UroPass Access Sheath full portfolio.
The report segments the global urology laser fibers market as follows:
Global Urology Laser Fibers Market - By Type
Reusable Laser Fiber
Disposable Laser Fiber
Global Urology Laser Fibers Market - By Diseases
Global Urology Laser Fibers Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South and Central America (SCAM)
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