The global Flexible & Semi-Rigid Ureteroscopy Market size is expected to reach USD 1.12 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.1% over the forecast period. Increasing incidence of urolithiasis coupled with growing geriatric and obese population is likely to drive the market. Furthermore, introduction of technologically advanced products is also projected to drive the growth.
According to the U.S. Department of Commerce, in 2015, the world population was 7.3 billion, out of which around 8.5% or 617.1 million people were aged 65 years and more. The rapid increase in elderly population is likely to drive growth of the market for flexible and semi-rigid ureteroscopy over the forecast period.
Ureteroscopy is an ideal and safe choice for treating ureteral stones, tumors or strictures. Introduction of technologically advanced products in terms of size and design has allowed ureteroscopes to easily access ureter and kidney, eliminating the need for any surgical incision. Also, with semi-rigid and flexible ureteroscopes; almost all parts of urinary tract can be easily assessed, with high quality digital optics enabling accurate assessment of mucosal lesions and stones.
Introduction of technologically advanced products such as single-use ureteroscopes is driving the market. For instance, Boston Scientific launched LithoVue, a new single-use digital ureteroscope, in U.S. and Europe. It provides high-quality digital visualization and seamless navigation for constant clinical performance during each procedure. Flexible ureteroscopes was the largest product segment in 2017 and is likely to witness fastest growth over the forecast period. The wide usage of these products is attributed to their accuracy and cost effectiveness.
Further key findings from the report suggest:
- The urolithiasis segment is expected to hold largest market share, mainly due to the high prevalence of kidney stone
- Hospitals was the largest segment of the flexible and semi-rigid ureteroscopy in 2017 as majority of diagnostic tests are performed in hospitals, mainly due to easy access
- Ambulatory surgical centers segment is expected to witness significant growth over the forecast period. As the payers and government analyze costs and shift towards value-based care, outpatient surgery is likely to witness a rise
- North America was the largest revenue generating region in 2017, followed by Europe. North America is the most well-established region in terms of usage of ureteroscopes and makes up most of the existing market
- Asia Pacific is likely to witness the fastest growth over the forecast period due to unmet clinical needs and requirement for better diagnosis. Growing government initiatives and clinical research activities for advanced diagnostics are expected to further propel the regional growth
- The players operating in this space are Boston Scientific, Olympus, Karl Storz Medical AG, Stryker, Elmed Medical Systems, Maxer Endoscopy, Richard Wolf, and Vimex Endoscopy. Most companies adopt strategies such as geographic expansion, business collaborations, and introducing technologically advanced products to increase their market share.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/flexible-semi-rigid-ureteroscopy-market