Urology Laser Market size was valued at USD 1.11 billion in 2023 and is poised to reach USD 2.4 billion by the end of 2036, expanding at around 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of urology laser is assessed at USD 1.16 billion.
Increasing prevalence of urology-related disorders, along with rising preference for minimal invasive surgeries are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as advancements in technology. According to the data collected from the National Center for Health Statistics of U.S. Federal Statistical System, urinary tract infections are the second-most common type of infections, accounting for about 8.1 million visits to healthcare providers each year.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
6.1% |
|
Base Year Market Size (2023) |
USD 1.11 billion |
|
Forecast Year Market Size (2036) |
USD 2.4 billion |
|
Regional Scope |
|
The market is segmented based on laser type into holmium (HO: YAG), thulium (THU: YAG), neodymium (ND: YAG), KTP (potassium titanyl phosphate), diode laser, green light laser, Erbium: YAG laser, lithium triborate, and others, out of which, the thulium (THU: YAG) segment is anticipated to grab the largest share by the end of 2029 on account of higher safety and efficiency in terms of tissue resection speed and preventing blood loss. However, neodymium (ND: YAG) is the most widely used laser in urology applications.
On the basis of application, the benign prostate hyperplasia (BPH) segment in the rket is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the continuous increase in elderly population in the world which is more susceptible to suffer from benign prostate hyperplasia (BPH). Moreover, therapeutic results obtained after treatment of benign prostate hyperplasia (BPH) patients with urology laser are better than those obtained through open or endoscopic operations.
Our in-depth analysis of the global market includes the following segments:
|
By Laser Type |
|
|
By Application |
|
Geographically, the urology laser market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific industry is anticipated to hold largest revenue share by 2036, owing to increase in number of patients with urology related disorders in the region. Furthermore, the market in North America is evaluated to occupy the largest share during the forecast period, owing to greater use of minimally invasive procedures and growing demand for patient safety. Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on account of high prevalence of kidney stones among children and adolescents in the region. According to National Centre for Biotechnology Information, over 4 million patients acquire healthcare-associated infections in the European Union every year.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?