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The growth of the overall urology surgical instruments market can be contributed to rising prevalence of kidney diseases and urinary tract infections; rising number of hospitals and growing hospital investments in surgical infrastructure; availability of investments, funds, and grants from government bodies; and rising geriatric population.
Based on product, the urology surgical instruments market is categorized into urology endoscopes, endovision systems, peripheral instruments, and consumables and accessories. The consumables and accessories segment is expected to account for the largest share of the urology surgical instruments market in 2016, and is also expected to grow at the highest CAGR during the forecast period.
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Based on application, the urology surgical instruments market is segmented into chronic kidney disease (CKD), urinary stones, benign prostatic hyperplasia (BPH), urinary incontinence (UI) and pelvic organ prolapse (POP), oncology, and other applications (erectile dysfunction and hernia). The chronic kidney disease segment is expected to account for the largest share of the market in 2016; while, the urinary incontinence and pelvic organ prolapse segment is projected to grow at the highest CAGR in the forecast period. The high growth of this segment can be attributed to the increasing awareness of the condition and rising prevalence of urinary incontinence.
Geographically, the global urology surgical instruments market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa). North America is expected to account for the largest share of the urology surgical instruments market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period (2016-2021), and serves as a revenue pocket for companies offering urology surgical instruments.
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Major players in the urology surgical instruments market include Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Coloplast A/S (Denmark), Cook Medical Inc. (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Teleflex incorporated (U.S.), Stryker Corporation (U.S.), CooperSurgical, Inc. (U.S.), and ConMed Corporation (U.S.).