The growing demand for urological surgical instruments due to the increasing benign prostatic hyperplasia (BPH) and urinary tract infection (UTI) prevalence, surging geriatric population, and increasing healthcare spending helped the urology surgical instrument market grow to $8.3 billion in 2017. It is expected to advance at an 8.6% CAGR during the forecast period (2018–2023). Urology surgical instruments are used in different urological surgeries, such as urethroplasty, laparoscopy, and endoscopy.
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Further, the urology surgical instrument market is being positively influenced by the increasing focus on providing quality healthcare. The governments of many countries are increasing their budgetary allocation for the healthcare sector to improve the related infrastructure and counter the growing disease prevalence. Improved healthcare facilities such as digital cameras, consumables and accessories, and endoscopes for the treatment of urological diseases, namely prostate cancer, chronic kidney disease, and UTIs, are leading to the increased utilization of urology surgical instruments.
The urology surgical instrument market is segmented by geography, application, and product. The application segment is categorized based on the disease-specific usage of these instruments. The categories are oncology, chronic kidney disease, urinary incontinence and pelvic organ prolapse (UI and POP), urinary stone, and benign prostatic hyperplasia. During the forecast period, the expected fastest growing category would be UI and POP disorders with a 9.5% CAGR.
Therefore, the market for these instruments is projected to grow with the increasing demand for minimally invasive procedures to treat urological conditions.
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