The Global Urethral Stricture Market is anticipated to touch USD 1.53 billion by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 7.30% CAGR during the assessment period (2019-2023). Urethral stricture is a condition caused to the urethra due to scarring or injury which restricts normal urine excretion from the body. The restriction can cause numerous problems, including infection and inflammation.
Market Research Future (MRFR) recognizes the following companies as the key players in Urethral Stricture Market: There are plenty of large and small market players which operate in this market all over the globe.
Boston Scientific Corporation, Cook Medical Incorporated, Olympus Corporation, Bard Medical, Inc., Stryker Corporation, and others are noteworthy players in the Urethral Stricture market. Players in the market are focusing on strengthening their supply chain by acquiring oilfields and expanding their product offerings to cater to demands from various industrial sectors.
The report offers comprehensive profiles on these market players and assesses their current standing in the Urethral Stricture market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.
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Increasing incidence of urinary incontinence (UI) is the primary driver of the market. Demand for cost-effective treatments for treating Urethral Stricture coupled with development of minimally invasive surgeries in India and China are likely to fuel market demand over the forecast period. Stringent regulations and lack of awareness among patients can restrain market growth. But prevalence of urological disorders and adoption of advanced methods can offer new opportunities for growth.
Urolithiasis is also emerging as a major concern. The daunting figures, published by the National Kidney Foundation in 2017, exhibit that in the U.S., 73 million adults are affected by high blood pressure whereas, 29 million adults have high diabetes. These are physical anomalies that can culminate into urolithiasis, triggering the demand in the urethral stricture market.
By type, the Urethral Stricture market has been segmented into anterior and posterior Urethral Stricture. 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 projected to be worth USD 468.8 million in 2017. By treatment, the market is segmented into direct vision internal urethrotomy (DVIU), urethroplasty, urethral dilation, and others. Major market end-users include ambulatory surgical centers (ASCs), urologic clinics, hospitals, and others. The hospital segment is touted to remain the top end-user till 2023.
The segments and sub-segments covered in the report are analyzed under four major regions – Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA), with respective country-level market sizing. For the scope of research, the standard definition of the product/service “Urethral Stricture” is included in the report. The report discusses and interprets the current and future opportunities of the industry by delivering an unbiased growth assessment.
Geographically, the market is spread across North and South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The America region presently holds the largest market share and will continue its lead in the coming years. The market growth in the region is due to sophisticated treatment provided by health facilities in both the United States (U.S) and other Latin American countries. Also, the medical device industry is thriving and holds massive potential for further growth in the US. Moreover, innovative technology and frequent product development in the region give way to the growth of the market. Recently, surgeons in North America developed a new smartphone-based tool that detects a urethral blockage, which is convenient for patients to test themselves for the condition at home.
The Europe market is expected to grow significantly during the forecast period owing to owing to the high availability of advanced treatment facilities and healthcare expenditure. Furthermore, increasing population prone to diseases also fuel the market growth.
Asia Pacific market’s upward trajectory can be attributed to growing expensive equipment and infrastructure, and increasing research and development initiatives to improve the quality and effectiveness of new and modern instrumentations. Countries such as India and China contribute massively to the market expansion owing to the rapid development of healthcare infrastructure and surging demand for diagnostic and treatment services.
On the other hand, the Middle East and Africa market is expected to experience a steady growth rate driven by the growing availability of new and advanced diagnostic and treatment methods.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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