Urology Laser Market

According to Stratistics MRC, the Global Urology Laser Market is accounted for $1,092.02 million in 2022 and is expected to reach $1,686.26 million by 2028 growing at a CAGR of 7.51% during the forecast period. The foundation of laser technology is the capacity of a device to emit a focused, narrow beam of light. Each LASER (Light Amplification by Stimulated Emission of Radiation) system's wavelength is determined by the laser medium. Due to its tiny focus and great intensity, parallel radiation from the device is simple to focus on a target. The medical equipment or parts used to remove tumours from the urethra, bladder, ureter, and kidneys are known as urology lasers. A tiny beam of light is emitted by urology lasers, providing a precise, painless, and accurate surgical procedure.

According to the World Ageing Population report, in 2020, around 727 million people aged 65 years and above were living across the world. According to the US Census Bureau 2019 estimates, the population aged 65 years and above increased by 3.2% from 2018 to 2019, and it is expected to rise from around 56 million in 2020 to 94 million by 2060.



Market Dynamics:

Driver:

Rising number of patients related to urology disorders globally

Urological diseases are among the most prevalent clinical conditions in senior patients and affect people of all ages. Many urologic disorders become more common and more likely as people age. Experts in geriatrics and ageing urologic practitioners will be more in demand as population demographics continue to change. The circumstances might result in impairment and a lower quality of life. The market for laser technologies has been positively impacted by rising instances of urological problems. As a result, the market is anticipated to rise throughout the forecast period due to the increasing number of patients with urology-related ailments.

Restraint:

Stringent regulatory requirements

The development of the urology laser market is being hampered by elements like strict regulatory requirements for medical approval, expensive laser costs, a lack of awareness among people in poor economies, and inadequate infrastructure in many developing nations. In addition, the market's expansion is anticipated to be hampered by a lack of knowledge about the advantages of minimally invasive urological laser surgery, the high cost of research activities, and the availability of alternative treatments for various UTIs.

Opportunity:

Technological advancements in laser technology

The urology laser market is thought to be primarily driven by technological improvement. Prostatic hyperplasia, bladder tumours, and urolithiasis can all be effectively and conveniently treated with urology laser. As a result, the urology laser is crucial to the treatment industry. Additionally, it is employed to examine and handle tumours, cysts, or other abnormal tissues in the urinary system. Urological disorders would be treated quickly and recover more quickly as a result of the explosion in technical uses for urology laser equipment. Laser technology minimises the need for surgical equipment. As a result, it is anticipated to present a chance for market expansion during the anticipated term.

Threat:

High cost of urology laser device and procedure

The cost of a urology laser procedure can be significant due to the specialised equipment and training needed, as well as the expense of manufacturing and purchasing urology laser devices. This may make urology laser treatments less accessible to patients and medical facilities, especially in low-income areas. Additionally, some patients may be discouraged from selecting these treatments by the high expense of urological laser devices and procedures, particularly if they must pay out of cash. In the coming years, the market growth is anticipated to be constrained by the rising complexity of urology laser devices and the high cost of urology laser therapy.

Covid-19 Impact

The COVID-19 pandemic is anticipated to have a substantial effect on market expansion. In addition to the corona virus’s negative impacts on public health, there was a side effect that had unheard-of repercussions for surgical services and patients with surgical conditions, almost universal disruption and cancellation of surgical services. In areas with a high illness burden, operating rooms and anaesthesia machines are momentarily converted to respiratory support units. Urologists and other healthcare professionals may have more challenging tasks in the upcoming weeks. As a result, they ought to use the triage approach to prevent squandering medical resources.

The holmium segment is expected to be the largest during the forecast period

The holmium segment is estimated to have a lucrative growth, due to its unique techniques and minimally invasive surgical approach. A minimally invasive procedure is favoured for the removal of tissues that obstruct urine flow via the prostate, and this is the principal application for which the holmium laser is utilised. Holmium systems are becoming more popular as a result of their security and efficiency in treating patients without making an incision.

The urolithiasis segment is expected to have the highest CAGR during the forecast period

The urolithiasis segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising incidence of patients with stony concretions in the bladder and urinary tract. The introduction of unhealthy lifestyles and inadequate sanitation facilities are two causes of stony concretions. High caffeine intake is one of the factors that contribute to urolithiasis because it increases the excretion of calcium from the urine, which results in blood in the urine and abdominal pain.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the surge in lithotripsy treatments in the area as a result of the rising number of persons with urolithiasis. Additional risk factors for developing urolithiasis and other urology-related issues include decreased hydration intake, heated temperatures, and increased sun exposure. As a result, the market is expanding as more cases of urology-related disorders occur.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, due to BPH, urolithiasis, and other urology-related illnesses are becoming more common. The demand for urology lasers is significantly influenced by technological developments in urology laser apparatus. Therefore, the market expansion in the region is being driven by increasing technological advancements in the treatment of clinical applications.



Key players in the market

Some of the key players profiled in the Urology Laser Market include Allengers Medical Systems Limited, Olympus Corporation, Surgical Lasers Inc., OmniGuide Holdings, Inc., Boston Scientific Corporation, CR BARD (BD), Lumenis, Cook medical, Coherent, Inc., BISON MEDICAL, Dornier MedTech, Biolitec AG, El.En. Group, Medtronic and Richard Wolf GmbH.

Key Developments:

In May 2022, OmniGuide Holdings announced that the U.S. Food and Drug Administration cleared its upcoming product RevoLix HTL a family of pulsed and continuous wave Thulium YAG lasers, therefore a foundation of RevoLix Therapy for urology patients undergoing BPH and Stone Management procedures With the FDA's clearance of a standalone reader, the company will have expected to generate more revenue.

In October 2019, Cook Group and Quanta System entered into an agreement in which Cook will distribute in some territories a comprehensive offering of Quanta’s holmium and thulium laser systems, laser fibers and accessories. This collaboration will ensure that physicians have access to the latest laser technology to treat their patients, along with Cook’s current comprehensive line of disposable products.

In March 2018, Boston Scientific Corporation acquired a privately-held company NxThera, based in Maple Grove, Minnesota. NxThera developed and commercialized, in the United States (U.S.) and Europe, the Rez?m system which is a minimally invasive therapy in a growing category of treatment options for men with symptoms arising from of benign prostatic hyperplasia (BPH).

Laser Types Covered:
• Thulium Laser System
• Holmium Laser System
• Diode Laser System
• Neodymium-Doped Yttrium Aluminum Garnet
• Potassium Titanyl Phosphate Yttrium Aluminum Garnet
• Erbium: Yttrium Aluminum Garnet Laser
• Lithium Borate
• Other Laser Types

Modalities Covered:
• Standalone
• Portable

Distribution Channels Covered:
• Retail Sales
• Direct Tender
• Online Sales
• Other Distribution Channels

Applications Covered:
• Non-Muscle-Invasive Bladder Cancer (NMIBC)
• Benign Prostatic Hyperplasia (BPH)
• Urolithiasis
• Partial Kidney Resection
• Removal of Kidney Stones
• Urethral Strictures
• Tumors
• Other Applications

End Users Covered:
• Ambulatory Surgical Centers
• Hospitals
• Urological Clinics
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances