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Urology Laser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4997427
  • Report
  • March 2021
  • Region: Global
  • 116 Pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Allengers
  • Biolitec AG
  • Cook Group
  • El.En. Group
  • Lumenis
  • Medtronic
  • MORE
The Urology Laser Market was valued at approximately USD 944.79 million in 2020 and is expected to witness a revenue of USD 1,295.24 million in 2026, with a CAGR of 5.51% over the forecast period.

COVID-19 pandemic is expected to have a significant impact on the growth of the studied market. In addition to the effects of the Coronavirus on public health, there is the collateral effect of near‐universal disruption and cancelation of surgical services, which had unprecedented implications for surgical services and patients with surgical conditions. Operating theaters and anesthesia machines are being temporarily converted to respiratory support units in regions with a high disease burden. Additionally, as per the study titled “Elective surgery cancellations due to the COVID-19 pandemic: global predictive modeling to inform surgical recovery plans”, published in May 2020, approximately 2.5 million urological benign surgeries were reported to be canceled during the peak disruption by COVID-19. Over the coming weeks, healthcare workers, including urologists, may face increasingly difficult challenges. Thus, they should adopt the triage strategy to avoid the wasting of medical resources. They should also endorse sufficient protection policies to guard against infection when dealing with COVID-19 patients. Thus, considering the above-mentioned factors, the pandemic is likely to have a short-term negative impact on the market studied, due to the postponed elective surgeries

One of the major factors driving the market studied is the high prevalence of urologic conditions across the world. The prevalence of urinary incontinence is more in women than in men. According to the Global Forum on Incontinence, 2018, 12.4% of all women and 5% of all men, i.e., 303 million and 121 million, respectively, are affected by urinary incontinence worldwide. Also, the rising adoption of minimally invasive surgical procedures in holmium systems, as well as thulium laser treatment systems, is one of the major factors propelling the market for urology lasers. These systems offer several benefits, such as greater efficiency, safety, and rapid recovery, resulting in increased demand for thulium and holmium systems.

Furthermore, laser procedure provides certain benefits, such as faster recovery, shorter hospital stays, decreased blood loss, and lower overall body pain resulting from smaller incisions. Hence, the reliability and safety features of these systems are expected to drive market growth. Additionally, key players in the market studied are focusing on frequent product developments and approvals, which may substantially drive the market during the forecast period. For instance, in June 2020, Olympus launched its new Soltive SuperPulsed Laser System (Soltive Laser System), a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications. Thus, such factors are likely to drive the growth of the market studied, during the forecast period.

Key Market Trends

Benign prostatic hyperplasia (BPH) is Expected to Hold the Largest Revenue in the Application Segment in Urology Laser Market

Benign prostatic hyperplasia is a medical condition involving the enlargement of the prostate gland, and it is highly prevalent in males. It is a non-cancerous growth of the prostate gland originating from the uncontrolled expansion of prostate cells. The common symptoms associated with BPH include frequent urination, urine initiation difficulties, a weak urinary system, and the inability to empty the urinary bladder.

The majority of the benign prostatic hyperplasia patient population is elderly, and as the geriatric population is rising, the burden of this disease is also increasing, boosting the demand for laser treatment in this segment. According to the World Ageing Population report, in 2019, around 703 million people aged 65 years and above were living across the world. Over the next three decades, this older population is expected to steadily increase and more than double, to reach over 1.5 billion by 2050. Eastern and South-eastern Asia are expected to observe the largest increase by about 312 million in the coming years compared to any other region.

Furthermore, according to the study titled, ‘’The prevalence and associated factors of lower urinary tract symptoms suggestive of benign prostatic hyperplasia in aging males’’, published in May 2020, the disease prevalence was the highest in elderly patients (aged 70 years and above), of about 22.7%. Also, several new laser treatments are being studied to improve the outcome in patients. For instance, in December 2020, a group of surgeons from St Vincent's Private Hospital, Australia, were working with a 152-watt laser, which is based on virtual basket technology and is designed in Italy for the treatment of benign prostatic hyperplasia. Such instances are expected to support the market growth.

Additionally, as the post-COVID-19 scenario is resuming gradually, the healthcare providers are shifting their focus toward BPH treatment, and an optimistic approach toward active collaboration for BPH treatments is expected. This will boost the market studied. Hence, positive growth is expected in this segment over the forecast period

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America currently dominates the market for urology laser devices and is expected to continue its stronghold for a few more years owing to the increasing prevalence of urolithiasis, BPH, and other urology-related disorders. The United States is expected to be the largest market for urology lasers in the North American region owing to the increasing prevalence of urological disorders, such as bladder cancer and urinary incontinence, and the rising preference for minimally invasive procedures due to less operative time and fewer complications.

The emergence of novel technologies, along with their adoption, is helping the market studied to grow in the United States. The rising healthcare expenditure is the prime factor responsible for the growth of the healthcare sector in the country. According to the American Cancer Society, the estimated new cases of bladder cancer in Americans in 2020 were around 81,400 (Men: 62,100, Women: 19,300) and about 17,980 deaths occurred due to it in the United States.

According to the US Census Bureau 2019 estimates, the 65 and older population 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. The older population is often susceptible to urological diseases, especially urinary incontinence, which is propelling the market growth. Laser therapy seems to be a promising alternative approach to urinary incontinence in women. The country has well-established companies that are continuously engaged in the development of new products. In 2019, the Litho EVO laser system developed by Quanta System received a US FDA (United States Food and Drug Administration) approval for use in urological surgeries. Hence, the aforementioned factors are expected to contribute to the growth of the urology laser market in the region.

Competitive Landscape

The urology laser market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Olympus Corporation, Boston Scientific Corporation, Richard Wolf GmbH, Cook Group, Medtronic, Biolitec AG and Lumenis Ltd. The key players are involved in varied strategic alliances such as acquisitions and collaborations, along with new product launches to withstand their position in the global market.

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Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allengers
  • Biolitec AG
  • Cook Group
  • El.En. Group
  • Lumenis
  • Medtronic
  • MORE
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Prevalence of Urological Disorders
4.2.2 Technological Advancements
4.2.3 Rising Demand for Minimally Invasive Surgical Procedures
4.3 Market Restraints
4.3.1 High Cost of Laser Systems
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Laser Type
5.1.1 Holmium Laser System
5.1.2 Diode Laser Systems
5.1.3 Thulium Laser System
5.1.4 Other Laser Types
5.2 By Application
5.2.1 Benign Prostatic Hyperplasia
5.2.2 Urolithiasis
5.2.3 Non-Muscle-Invasive Bladder Cancer
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States (By Laser Type, and By Application)
5.3.1.2 Canada (By Laser Type, and By Application)
5.3.1.3 Mexico (By Laser Type, and By Application)
5.3.2 Europe
5.3.2.1 Germany (By Laser Type, and By Application)
5.3.2.2 United Kingdom (By Laser Type, and By Application)
5.3.2.3 France (By Laser Type, and By Application)
5.3.2.4 Italy (By Laser Type, and By Application)
5.3.2.5 Spain (By Laser Type, and By Application)
5.3.2.6 Rest of Europe (By Laser Type, and By Application)
5.3.3 Asia-Pacific
5.3.3.1 China (By Laser Type, and By Application)
5.3.3.2 Japan (By Laser Type, and By Application)
5.3.3.3 India (By Laser Type, and By Application)
5.3.3.4 Australia (By Laser Type, and By Application)
5.3.3.5 South Korea (By Laser Type, and By Application)
5.3.3.6 Rest of Asia-Pacific (By Laser Type, and By Application)
5.3.4 Middle East and Africa
5.3.4.1 GCC (By Laser Type, and By Application)
5.3.4.2 South Africa (By Laser Type, and By Application)
5.3.4.3 Rest of Middle East and Africa (By Laser Type, and By Application)
5.3.5 South America
5.3.5.1 Brazil (By Laser Type, and By Application)
5.3.5.2 Argentina (By Laser Type, and By Application)
5.3.5.3 Rest of South America (By Laser Type, and By Application)

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Allengers
6.1.2 Biolitec AG
6.1.3 Boston Scientific Corporation
6.1.4 Cook Group
6.1.5 El.En. Group
6.1.6 Lumenis
6.1.7 Medtronic
6.1.8 Olympus Corporation
6.1.9 OmniGuide Holdings, Inc
6.1.10 Richard Wolf GmbH
6.1.11 Surgical Lasers Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
  • Allengers
  • Biolitec AG
  • Boston Scientific Corporation
  • Cook Group
  • El.En. Group
  • Lumenis
  • Medtronic
  • Olympus Corporation
  • OmniGuide Holdings, Inc
  • Richard Wolf GmbH
  • Surgical Lasers Inc.
Note: Product cover images may vary from those shown

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