According to Coherent Market Insights, the global urethral stricture treatment market is estimated to be valued at US$ 1,326.0 million in 2019 and is expected to exhibit a CAGR of 6.0% during the forecast period (2019-2027).
Key Trends and Analysis of the Global Urethral Stricture Treatment Market:
Higher success rate of direct vision internal urethrotomy (DVIU) for treating short anterior urethral strictures is expected to drive growth of the segment during the forecast period. For instance, according to research published by the Canadian Urological Association, the success rate of DVIU is around 71% for treating short anterior urethral strictures.
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Moreover, key players are focused on developing low-cost treatment options, in order to gain a competitive edge in the market. For instance, Urotronic, Inc., a Minnesota-based medical devices company, is developing a drug-coated balloon technology, which will be affordable and provide minimally invasive treatment options for urologic diseases including urethral stricture. In September 2019, Urotronic, Inc. received approval from the U.S. Food and Drug Administration (FDA) for its Optilume BPH Catheter System.
Furthermore, increasing incidence of Iatrogenic urethral damage is expected to propel growth of this segment in the global urethral stricture treatment market. According to the European Association of Urology 2016, catheterization, instrumentation, or surgery is the major cause of iatrogenic urethral trauma and it accounts for nearly 32% of urethral strictures.
Among regions, increasing prevalence of urethral stricture along with rising adoption of inorganic growth strategies such as distribution agreement, collaboration, and acquisition by market players in North America is expected to boost the urethral stricture treatment market growth in the region during the forecast period. For instance, in September 2017, Teleflex Incorporated acquired NeoTract, Inc., a medical device company that develops and commercializes UroLift System, a minimally invasive medical device for treating lower urinary tract infection.
Key Market Takeaways:
- The global urethral stricture treatment market is expected to witness a CAGR of 6.0% during the forecast period (2019-2027), owing to increasing incidence of urinary tract infection is expected to drive growth of the infection-induced segment in the global urethral stricture treatment market. According to the American Urological Association’s 2019 report, around 8.1 million patient suffer from urinary tract infections, and about 60% women and 12% men suffer from at least one urinary tract infection during their lifetime
- Among treatment segment, urethral dilation segment is expected to account for largest share in the urethral stricture treatment market due to increasing patient population and rising demand for minimally invasive procedures as compared to other treatment procedures. For instance, according to recent studies published in the Indian Journal of Urology 2019, urethral dilation is performed by around 50% of the urologists in the U.S. and Europe for treating short urethral strictures
- Major players operating in the global urethral stricture treatment market include Becton, Dickinson and Company, Amecath, Zhejiang Chuangxiang, Medical Technology Co., Ltd, Allium Ltd., SURGIMEDIK, Cook Group, Taewoong Medical Co., Ltd., Teleflex Incorporated, B. Braun Melsungen AG, Coloplast A/S, Boston Scientific Corporation, and Pnn Medical A/S.
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