Prostate Laser Surgery Market Research Report: By Type (Photoselective Vaporization, Holmium Laser Ablation, Holmium Laser Enucleation), Indication (Benign Prostatic Hyperplasia), End User (Hospitals & Clinics, Medical Device Companies) - Global Forecast till 2027

Market Highlights

Prostate Laser Surgery is minimally invasive procedure used for the treatment of symptoms associated to benign prostatic hyperplasia (BPH) or enlargement of the prostate. The condition is found to be prevalent among the geriatric population across the globe. Laser surgery has various advantages such as speedy relief from symptoms, minimal post-operative complications, and minimal blood loss. It also reduces the time of stay at the hospital, providing faster recovery of the patient.

Increasing prevalence of benign prostatic hyperplasia, rising awareness about urology disease, their diagnosis and treatment, and growing demand for technologically advanced medical devices are major drivers for the market growth. High cost of prostate laser surgery mat restrain the market growth in developing regions across the globe.

The global prostate laser surgery market is expected to grow at a CAGR of 7.2% during the forecast period.

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Major Players in Prostate Laser Surgery Market:

Some of the key players in the global market are Olympus (Japan), Limmer Laser GmbH (Germany), Urologix, LLC. (U.S.), Boston Scientific Corporation (U.S.), Unique Medical Devices (India), JenaSurgical GmbH (Germany), KARL STORZ SE & Co. KG (Germany), Lumenis, Richard Wolf (U.S.), Medifocus Inc, and CoreTherm Medical Inc. (U.S.)

Regional Analysis

Americas is the largest market for prostate laser surgery owing to the flourishing growth of medical device industry, and increasing demand for surgical devices used of treatment of various urology problems. Additionally, rising healthcare expenditure also influences the growth of the market. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending is likely to increase 5.8% reaching USD 3.2 trillion.

Europe, Germany, and France are the largest contributors for the growth of the market owing to extensive research and development activities in the field of urology by the medical institutes, and research centers. Most of the key players are engaged in production differentiation through adoption of new technological approaches for manufacturing medical devices.

The market in Asia Pacific is expected to grow at the fastest pace and is driven by the rising geriatric population, rising prevalence of urinary tract disorders, and increasing number of surgical procedures in hospitals and tertiary care centers.

The Middle East & Africa also show a steady rise in the market owing to rising awareness about urinary tract diseases and available treatment options. In Africa, the market shows steady growth owing to an increasing focus on the prevalence of chronic diseases, and overall growth in healthcare sector.

New product development strategy of key players also influence the growth of the market. KARL STORZ GmbH & Co. KG, founded in 1945, a medical company, produces and distributes medical instruments and devices. The company is headquartered in Germany. The company is world market leader and is one of the leading manufacturers in the field of industrial endoscopy. C-VIEW, IMAGE1 S, and AUTOCON III 400 are some of the major products manufactured by the company.

Olympus Corporation, headquartered in Tokyo, Japan, is a manufacturer of optics and reprography products. In 2015, the company has launched five new urology products: GLIDEWIRE, ShockPulse- SE, UltraTrack Hybrid Guidewire, UroPass Access Sheath full portfolio, and 200 Series Laser Fiber.

Segmentation

The global prostate laser surgery market is segmented on the basis of type, devices, indication, and end user.

On the basis of type, market is segmented into photoselective vaporization of the prostate, holmium laser ablation of the prostate, and holmium laser enucleation of the prostate.

On the basis of indication, market is segmented into benign prostatic hyperplasia, difficulty starting urination, slow urination, urinary tract infections, and others.

On the basis of end user, the market is segmented into hospitals & clinics, medical device companies, and others.

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