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(Health-NewsWire.Net, May 26, 2021 ) The report “Flexible and Semi-rigid Ureteroscopy Market by Product (Flexible Ureteroscopes, Semi-rigid Ureteroscopes), Application (Urolithiasis, Urinary Stricture, Kidney Cancer), End User (ASCS, Hospitals), and Region (US, Canada, Asia, Europe) – Global Forecast”, the flexible ureteroscopy market is expected to reach USD 1,054.1 million by 2023 from USD 809.6 million in 2018, at a CAGR of 5.4%
The high incidence of urolithiasis across the globe is a major factor driving the growth of this market. The rapidly increasing geriatric population, technological advancements in devices, and improving hospital infrastructures are the other major factors that are expected to support the growth of the flexible and semi-rigid ureteroscopy market in the coming years.
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Flexible ureteroscopes are expected to account for the largest share of the market in 2018
By type of product, the semi-rigid ureteroscopes market is further segmented into flexible and semi-rigid ureteroscopes. The flexible ureteroscopes segment is expected to account for the largest share in 2018. The growing incidence of urolithiasis, rising prevalence rate of kidney cancers, and technological advancements in flexible ureteroscopes are the primary factors driving the growth of the ureteroscopy market. The flexible ureteroscopes market is further segmented into fiberoptic and digital ureteroscopes. The digital ureteroscopes segment is expected to account for the larger market share in 2018 owing to the higher efficacy and better image output of these devices.
Geographical View in-detailed:
The flexible and semi-rigid ureteroscopy market is geographically classified into North America, Europe, Asia, and the Rest of the World (RoW). North America is the largest regional market for ureteroscopes majorly due to the high prevalence of kidney stones (and the large number of surgical procedures performed for the same) and the rising healthcare expenditure in this region. Asia is expected to grow at the highest CAGR in the flexible ureteroscopy market during the forecast period. Growth in this region is mainly due to the large patient population.
Global Key Leaders:
Some of the major players operating in ureteroscopy market are Olympus (Japan), Stryker (US), Boston Scientific (US), KARL STORZ (Switzerland), Richard Wolf (Germany), ELMED Medical Systems (Turkey), Rocamed (France), Maxer Endoscopy (Germany), ProSurg (US), and Vimex Endoscopy (Poland).
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Olympus (Japan) accounted for the largest share of the flexible & semi-rigid ureteroscopy market. The company has reported an increase in sales in overseas markets, including important emerging markets such as Central and South America, China, Russia, and the Middle East. Olympus focuses on leveraging its competitive flexible ureteroscopes to expand its share and sales. The company invests heavily in research activities. In 2017, it invested ~10% of its total revenue in R&D to enhance product development. It also has a strong brand image and wide geographic presence in the market.
Stryker (US) accounted for the second-largest share of the flexible & semi-rigid ureteroscopy market in 2017. The company strengthened its position in this market by offering high-quality, advanced products to end users. The R&D expenditure of the company increased from USD 715 million in 2016 to USD 787 million in 2017. This increased spending on R&D activities enhances the company’s product development capabilities.
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