ID: MRFR/MED/4543-CR | July 2018 | Region: Global | 100 pages
The urethral stricture market is expected to grow at a 7.30% CAGR, along with a market valuation worth USD 1.53 billion. The urethral strictures in the body stand for a narrowed urethra that results in the formation of scar tissue in the body. The urethral strictures obstruct the urine flow that flows out from the urethra. The urethra is further divided into the anterior urethra, as well as the prostatic urethra. The main reason for the occurrence of urethral strictures is infections like gonococcal urethritis. The patient’s pelvic region having prostate cancer experiences inflammation that causes an effect on the penile skin. An injured urethra might result in patients opting for surgeries.
The urethral stricture diagnosis can be done based on the medical history of the patient. For assurance, confirmatory tests can be conducted like urine tests, ultrasounds, uroflow studies, and much more. T
COVID 19 Analysis
Since the coronavirus was introduced to the world in China followed by its declaration as a pandemic, it has disrupted and changed both the lives and business across the globe. The basic structure of conducting any business and its operations have switched to the online mode to curb the pandemic. In March 2020, the global nations started witnessing the changes in their business forms, and gradually, with the imposition of lockdown, the business lane was disrupted with the shutting down of the production and manufacturing units. Rather, patients need to visit the hospitals for regular check-ups, and on emergency requirements as well. With the doctors busy treating the COVID patients, closure of OPDs, limited number of cases in emergencies, has created widespread anxiety and health concerns.
However, with a motive to step up from the losses, the government is intervening and allocating good monetary sums for the development of healthcare services and infrastructure to manage such unfortunate times in the future.
Urethral Stricture Market Dynamics
The urethral stricture market is witnessing great research and the need for effective remedies helpful in curing prostate cancer. Also, the urethral strictures result in urethra narrowing those results in pain and a lot of difficulty during urinating. There is a constant sensation near the urinary area and thus, the patient is left in an uncomfortable state. To get rid of the same, there is a demand amongst patients for the urethral stricture treatment market. A pelvic bone trauma is most likely to cause the urethral stricture problem. Hence, to get rid of it and safeguard the living standards, there is a surge in the healthcare facility demand.
The geriatric population in the world is on the rise. And, this chunk of the population is the one who required the urethral strictures the most. The growing demand is well collaborating with the market developments to help the urethral stricture surgery market grow, by the end of the global forecast period of 2023.
Steps are being undertaken to create awareness of the availability of cost-effective treatment and medication in the urethral strictures for the target audience. Also, the are efforts to create and subsequently shift the demand to both the invasive, as well as, noninvasive surgery kind. The infrastructure availability along with the technological advancements in the healthcare sector is pushing the urethral stricture market regions, and players, to cater to prevalent demand in the market.
Urethral Stricture Market Segment Overview
The type of urethral strictures is a part of the global market segments that are functioning in different geographical regions in the globe. The urethral stricture market segments are based on the following heads:
The type segment is inclusive of the anterior, as well as, the posterior.
The urethral strictures can be diagnosed with the help of ultrasounds, Uri flow tests, cystoscopy, urinalysis, pelvic ultrasounds, and much more.
The segment market segment includes how the patients can be treated and relieved from the urethral strictures. The treatment is available in the form of surgeries, as well as, therapeutics, from skilled professionals. Further, the surgery segment is divided into sub-segments like urethral dilation and reconstruction, as well as, direct visualization of an internal urethrotomy, along with the others.
Urethral Stricture Market Regional Analysis
The types of urethral strictures are deal with the production of medical equipment and medication on a regional scale. The regional analysis takes into consideration the performance of 4 major reasons that are North America, European Nations, Asian Pacific nations, as well as the rest of the world (RoW). North American regions are expecting a major market share by the end of the forecast period in 2023. This is a result of a considerable presence of the research institutions, the population of people having prostate cancer, as well as, a rise in the quantum of people contracting urinary infections. Following North America, Europe is increasing its awareness and expenditure in the healthcare sector to secure the second largest urethral stricture market size.
The third-largest market share belongs to the Asian Pacific nations that are well-making use of the lucrative opportunities on the way of its development. Also, the countries of this region are improvising on the availability of healthcare and working on the provision of efficient treatment. As far as, the Middle East and African countries are concerned, Latin America is expected to emerge as a gross earner. However, a major hindrance prevailing in the growth of African regions is the unavailability of treatment and infrastructure-related facilities.
Urethral Stricture Market Competitive Landscape
To understand the market competition and draw a comparative growth landscape of the companies performance, it is important to have an idea about the key market players. These are:
The prominent urethral stricture market players are gearing up for providing efficient treatment especially for the adult population suffering from urethral strictures. Also, the government is intervening for providing a better quality of infrastructure, and medical equipment for qualitative treatment.
The urethral stricture market research report is a framework that considers the various dynamics of the market before and after the COVID 19 era. The report is a compilation of the historic, prevalent, as well as, future revenues based on the recent developments o the market. Also, the report discusses the strategic framework of the companies functional on the regional, as well as, the global scale that enable them to take and implement effective growth decisions. Also, the report critically analyses the consumer behavior and journey that is based on the market segments, sub-segments, as well as, the services and treatment rendered by the healthcare and government sector. But, the major driving force for the urethral stricture market is the availability of cost-effective treatments at large that is majorly going to make a difference to the market growth by the end of the forecast period in 2023.
|Market Size||USD 1.2 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Condition, Cause, Treatment, Gender and End-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Stryker Corporation, StarmedtecGmbh, Cook Medical Incorporated, Jena Surgical GmbH, Boston Scientific Corporation, KgLumenis Ltd., Richard Wolf Gmbh, Karl Storz GmbH & Co Healthtronics, Inc., Olympus Corporation|
|Key Market Opportunities||Strategic collaborations, mergers, and product launches, strategies undertaken by key players in the market|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Urethral Strictures Market would reach a valuation of USD 1.53 billion by 2023.
Urethral Strictures Market would achieve a valuation of 7.30% CAGR during the forecast period of 2020 to 2027.
The need for surgery and its cost can hold back the growth rate.
The types are posterior urethral stricture and anterior urethral stricture
The hypospadias & epispadias segment has the highest CAGR for the forecast period (2018-2023).
Global Urethral Stricture Market: Competitive Landscape
Boston Scientific Corporation, Olympus Corporation, Bard Medical, Cook Medical Incorporated, and Stryker Corporation collectively accounted for more than 25% of the market share of the global urethral stricture market in 2017. These companies continue to retain their strong global presence through expansions, mergers & acquisitions, and extensive product portfolio.
Boston Scientific Corporation held the second position in the global urethral stricture market with a share of 14.5% in 2017. The company recorded a positive growth of over 5% in its total revenue in 2016 as compared to 2015. This growth in revenue can be attributed to strong sales in high potential emerging markets. Further, to sustain its place in the urethral stricture market, Boston Scientific Corporation follows strategic business alliances such as partnerships, collaborations, and joint ventures to expand its product portfolio and to extend its geographical reach. Additionally, the company has a huge brand identity and a huge product portfolio.
Olympus Corporation accounted for nearly 10% of the global market share in urethral stricture market in 2017. The company manufactures and sells instruments and precision machinery worldwide. The company operates through four segments including Medical Business, Imaging Business, Scientific Solutions Business, and Others. It offers endoscopy products for bronchial surgery, urology, gastroenterological surgery, orthopedic surgery, neurosurgery, gynecology, and anesthesiology. The company was formerly known as Olympus Optical Co., Ltd. and changed its name to Olympus Corporation in October 2003.
R. Bard, Inc. accounted for 5.5% of the global market share in urethral stricture market in 2017. C. R. Bard, Inc. designs, manufactures, packages, distributes and sells medical, surgical, diagnostic, and patient care devices worldwide. The company sells vascular & urological products, such as chronic total occlusion catheters, percutaneous transluminal angioplasty catheters, fabrics, meshes, introducers, and accessories; and peripheral vascular stents. The company sells its products to hospitals, individual healthcare professionals, extended care facilities, and alternate site facilities. As of December 29, 2017, C. R. Bard, Inc. operates as a subsidiary of Becton, Dickinson and Company.
Cook Medical Inc. accounted for 4.9% of the global market share in urethral stricture market in 2017. Cook Medical Inc. offers synchronized service for the purchase and distribution of medical devices manufactured by its parent company. The company serves healthcare providers internationally.
Stryker Corporation accounted for 3% of the global market share in urethral stricture market in 2017. The company has a wide geographic presence and also the strong sales & distribution network which has helped the company gain its position in the market. For instance, the Stryker Corporation, to enhance its business, acquired companies such as Novadaq Technologies Inc. in 2017, Stanmore Implants Worldwide Limited, Physio-Control International Inc, and some other companies in the recent past.
In the global urethral stricture market, more than 200 companies are involved in the manufacturing of the various types of catheters, surgical devices, and instrumentation. Hence, the market is not completely dominated by any one or two players but fairly divided among the top surgical and medical device manufacturing companies. Many leading players are focusing on the Americas and European markets owing to well-established markets, huge patient population, and high healthcare expenditures. These players have expanded their market in other regions as well. Major companies have a huge brand identity and product portfolio. These companies have adopted the organic strategy of product launches and acquisitions to gain the market. These strategy implied by the players in this market is continuous innovation and development of the new and better products to beat the opponents and strive in this big market.