Prostate Laser Surgery Market Overview
The global prostate laser surgery market has been on an upward trajectory and is expected to reach a significant valuation by the end of the forecast period of 2017 – 2023, reveals Market Research Future (MRFR) in a minutely analyzed research report. Rising prevalence of urological disorders among men across the globe is the primary driver of the market. High incidences of urological disorders induce soaring demand for prostate laser surgeries which boosts the growth of the market. Moreover, towering demand for minimally invasive surgeries which requires very less incision is a crucial factor supporting the growth of the global prostate laser surgery market. Moreover, favorable reimbursement scenario for prostate laser surgeries fosters the growth of the market. Various insurers are cover prostate laser surgeries under health insurance policies which encourages patients to opt for laser procedures. Continuous R&D activities to develop new and advanced medical instruments along with approvals from FDA and regulatory bodies drive the market growth. However, the high cost of treatment and preference for other methods of treatment restrain the market growth significantly.
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The prevalence of prostate disorders has become widespread, and Market Research Future (MRFR) perceives the growth of the global Prostate Laser Surgery Market to be healthy at a CAGR of 7.2% over the forecast period of 2022-2030. Spiraling incidences of urology disorders such as benign prostatic hyperplasia (BPH) or enlargement of the prostate induces high demand for prostate laser surgery. Such disorders are more common among the geriatric population. Rising geriatric population across the globe is a prime factor in shaping the growth of the global prostate laser surgery market.
A growing preference for minimally invasive surgical procedures is a significant factor in driving the growth of the global prostate laser surgery market. Laser surgery is associated with benefits such as speedy relief, minimal blood loss, and reduced post-operative complications. Other driving factors include surging awareness about urological disorders, favorable reimbursement scenario, and continuous R&D efforts to improve laser surgical procedures. Besides, a growing number of FDA approvals for new laser devices stimulate the market growth. On the flip side, the market growth might be restricted by high costs of laser surgical procedures which hinders growth in cost-sensitive markets. Also, lack of awareness, affordability, and preference for other treatment options also limits the market growth considerably.
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.
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Regional Analysis
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.
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.
Market Players
- Limmer Laser GmbH (Germany),
- Boston Scientific Corporation (U.S.),
- JenaSurgical GmbH (Germany)
- Urologix, LLC. (U.S.),
- Unique Medical Devices (India),
- KARL STORZ SE & KG (Germany)
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