It is projected that the worldwide market for treating urethral strictures was worth US$1,326.0 million in 2023, with a forecasted Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 2030.
Urological procedures for diagnosis or treatment can lead to urethral strictures. With the growing number of elderly people, there is an increasing demand for these procedures. Consequently, the prevalence of urethral strictures is projected to rise in the coming years. This condition affects men more than women. The National Centers for Biotechnology & Information (NCBI) reported in January 2016 that the occurrence of urethral strictures is approximately 200 per 100,000 in males under the age of 65 in the United States.
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The market is expected to experience growth during the forecast period due to a rise in prostate cancer cases, injuries, and medical conditions that necessitate the use of urethral stents, dilators, and catheters.
In 2016, the National Centers for Biotechnology & Information (NCBI) reported that urethral stricture is a prevalent illness, affecting more than 400 out of 100,000 males globally. Cancer Research UK noted that prostate cancer is the most prevalent cancer among males in the United Kingdom, with roughly 47,200 new cases registered in 2015. According to Cancer Research UK, the incidence of prostate cancer in the UK is predicted to rise by 12% from 2014 to 2035, reaching 233 cases per 100,000 males by 2035. Consequently, the growing occurrences of urethral strictures are expected to fuel the market’s growth.
The success rate of the urethroplasty procedure, combined with the rising prevalence of urethral strictures, is anticipated to bolster the growth of the urethroplasty segment during the forecast period. The British Association of Urological Surgeons (BAUS) Limited asserts that urethroplasty is the most popular technique for treating urethral strictures and has a success rate of over 85.0%, surpassing other procedures.
Global Urethral Stricture Treatment Market- Restraints
The treatment of urethral strictures necessitates highly efficient and technologically advanced procedures. Such advanced procedures enable rapid recovery with minimal downtime and lower the chances of recurrence. However, the high cost of surgical procedures may impede the market’s growth, as patients in lower middle-income nations may be unable to afford the treatment. According to Elsevier Inc., the cost of the initial treatment for Direct Vision Internal Urethrotomy (DVIU) is US$3,375.0, and the cost of the second treatment is US$7,522.5, which is exorbitant for individuals residing in low- and middle-income countries.
Global Urethral Stricture Treatment Market- Competitive Landscape
The key players in the urethral stricture treatment market consist of Allium Ltd., Amecath, B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Coloplast A/S, Cook Group, Medical Technology Co., Ltd, Pnn Medical A/S, SURGIMEDIK, Taewoong Medical Co., Ltd., Teleflex Incorporated, and Zhejiang Chuangxiang Medical Technology Co., Ltd.
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Urethral Stricture Treatment Market Report Coverage
| The market size value in 2023 |
Global Urethral Stricture Treatment Market- Regional Analysis
The global market for treating urethral strictures is categorized into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa based on regional segmentation.
The North American region is predicted to witness substantial growth in the urethral stricture treatment market due to the presence of prominent players such as Becton, Dickinson and Company (Bard Medical), Cook Medical, and Teleflex Incorporated, who offer innovative ureteral stents. Additionally, the increasing incidence and prevalence of urethral strictures in the region is expected to contribute to the growth of the North American urethral stricture treatment market during the forecast period. The likelihood of being diagnosed with urethral strictures is expected to increase with age, prostatic hyperplasia, peripheral vascular disease, and hypogonadism. In 2018, for instance, around 1% of men in the U.S. were diagnosed with urethral strictures, according to reports published in the Journal of Urology.
Furthermore, the growing need for effective and advanced treatment methods for urethral strictures in the region is anticipated to fuel market growth in the forecast period. A case in point is the development of a novel therapeutic option in tissue engineering known as MukoCell by UroTiss Europe GmbH in July 2018. This graft for urethroplasty offers an alternative to the native oral mucosa sections, thereby facilitating their replacement and preventing associated complications.
The Asia Pacific market for urethral stricture treatment is predicted to have a substantial share in the market during the forecast period due to the rising prevalence of urethral strictures and the increasing collaborations between research institutions to create new and innovative treatment options. For instance, in November 2018, researchers from India and Japan worked together to develop a new treatment method for male urethral stricture.
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Urethral Stricture Treatment Market Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Urethral Stricture Treatment Market Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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