Urology Laser Fibers Market to Grow at a Robust CAGR of 3.2% During 2017-2025 According To Market Forecasts

May 24 17:52 2019
The global urology laser fibers market is expected to reach US$ 870.5 Mn in 2025 from US$ 685.3 Mn in 2017. The market is estimated to grow with a CAGR of 3.2% from 2017-2025.

The increasing technological advancements in urology laser fibers has led to the extensive use for urology and mainly in the treatment of benign prostatic hyperplasia (BPH), urolithiasis, stricture disease and other novelapplications. Various key players are involved in developing the advanced and innovative technologies for the laser fibers. For instance, Clarion Medical Technologies has products that are made using the technology called as MOSES which is a patent protected technology developed by the Luminous Ltd. The technology is used by the holmium laser for the treatments of both urinary stones and BPH. In addition, recently in March 2018, Luminous Ltd has announced the release of the clinical evidence in lithotripsy and the primary clinical benefits for benign prostatic hyperplasia (BPH) treatments by using the MOSES Technology. Thus, the rise in the technological development are likely to contribute as one of the driving factor of the growth of the urology laser fiber market in the forecast period.

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The report highlights the trends prevalent in the global urology laser fibers market and the factors driving the market along with those that act as deterrents to its growth. The improving technological advancements help to improve the urology laser fibers sector across the globe. However, stringent regulatory validation requirement are expected to act as a major challenges hindering the market growth at a certain extent. 

The major players operating in the urology laser fibers market include include Olympus Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Boston Scientific Corporation, Cook, C. R. Bard, Inc., biolitec AG, ForTec Medical, Lumenis, and Clarion Medical Technologies among others.

The market for urology laser fibers is expected to grow due to the rising prevalence of kidney stone and prostate diseases; technological advancements, and increasing geriatric population with rising symptoms of urological disorders. Moreover, rise in the investments for healthcare facilities in the developing economies are likely to have a positive impact on the growth of the urology laser fibers market in the coming years.

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Strategic Insights

Product launch/update and agreements & collaborations were observed as the most adopted strategy in global urology laser fibers industry. Few of the product launches and agreements made by the players in the market are listed below;

2015: Olympus unveiled five of its products in the urology division, including the 200 Series Laser Fiber. Other products included, GLIDEWIRE Hydrophilic Coated Urologic Guidewire, ShockPulse- SE, UltraTrack Hybrid Guidewire, and UroPass Access Sheath full portfolio. The enhanced product line up is expected to enhance healthcare reforms such as, increased quality of care, decreased costs and enhanced patient satisfaction.

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