Prostate Laser Surgery Market Expected to Rise at a High CAGR, Driving Robust Sales and Revenue till 2027
Prostate Laser Surgery Market Research Report: By Type (Photoselective Vaporization, Holmium Laser Ablation, Holmium Laser Enucleation), Indication (Benign Prostatic Hyperplasia), End User (Hospitals & Clinics, Medical Device Companies) - Global Forecast till 2027
Market Synopsis:
The technological developments in the healthcare sector are anticipated to have a favorable impact on the proliferation of the prostate laser surgery market over the next couple of years. As per the report offered by Market Research Future (MRFR), the global prostate laser surgery market is projected to mark a CAGR of 7.2% across the assessment period 2017 to 2023.
The increasing patient population of prostatic hyperplasia is forecasted to fuel demand for effective treatment. In addition. People are getting aware of the adverse effects of the disease which is likely to aid the expansion of the market in the years to come. Healthcare sector is witnessing its boom which is poised to catalyze the growth of the global prostate laser surgery market over the next couple of years.
Advancements in the minimally invasive surgeries are likely to encourage a larger fraction of patient population in the treatment, thus, propelling the expansion of the market. However, on the contrary, the high cost of laser devices can pose a challenge to the players of the prostate laser surgery market through the forecast period.
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Market Segmentation:
Based on type, the global prostate laser surgery market has been segmented into holmium laser ablation of the prostate, photoselective vaporization of the prostate, and holmium laser enucleation of the prostate.
On the basis of indication, the prostate laser surgery market has been segmented into difficulty starting urination, slow urination, benign prostatic hyperplasia, urinary tract infections, and others.
The global prostate laser surgery market, by end-user, has been segmented into medical device companies, hospitals & clinics, and others.
Regional Analysis:
By region, the global prostate laser surgery market has been segmented into four regions, namely Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is the largest regional segment in the global market and is likely to maintain its forefront position through the assessment period. The growth of the region can be attributed to the developments of the U.S. market. The consolidation of global market players in the region is expected to catapult the prostate laser surgery market on upward trajectory. In addition, the technological innovations brought by the urological device manufacturers, coupled with increasing healthcare expenditure, is poised to facilitate the proliferation of the market in the years to come.
Europe is the second leading region of the global market place. It is anticipated to benefit from the rising investments in research & development of effective treatment. Also, the developments in the minimally invasive surgeries are anticipated to support the proliferation of the prostate laser surgery market over the next couple of years.
Asia Pacific is prognosticated to strike a comparatively higher CAGR over the review period. Increasing number of surgical procedures and the developmental plans for the healthcare sector executed by the governments are projected to aid the proliferation of the prostrate laser surgery market across the assessment period. The increasing patient burden of urinary tract disorders is expected to boost the revenue growth of the regional market over the next couple of years. Meanwhile, the Middle East & Africa is forecasted to exhibit limited growth in the nearby future.
Competitive Dashboard:
The key players profiled for the share analysis of the global prostate laser surgery market are Limmer Laser GmbH (Germany), Olympus (Japan), Urologix, LLC. (U.S.), Unique Medical Devices (India), JenaSurgical GmbH (Germany), Boston Scientific Corporation (U.S.), KARL STORZ SE & Co. KG (Germany), Medifocus Inc, Lumenis, Richard Wolf (U.S.), and CoreTherm Medical Inc. (U.S.).
Industry News:
In May 2019, Avenda Health, which focuses on the development of minimally-invasive treatments, has announced the use of Artificial Intelligence (AI) for improving prostate cancer treatment.
In December 2018, Medifocus, Inc., a biotechnology company, has received FDA PMA Supplement Approval for its new Labeling which is based on the successful completion of FDA post approval study for the Prolieve® Thermodilatation™ Device.
In July 2018, Dornier MedTech, a leader in kidney stone management, announced the introduction of Dornier Medilas H 140, and Dornier Medilas H Solvo 35 for the Singapore market. The devices are useful in the treatment of benign prostate hyperplasia and urological stones.
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