The global urology surgical instruments market is expected to reach USD 11.48 Billion by 2021 from USD 7.74 Billion in 2016, growing at a CAGR of 8.2% from 2016 to 2021. The growth of the overall urology surgical instruments market can be contributed to rising prevalence of kidney diseases and urinary tract infections; rising number of hospitals and growing hospital investments in surgical infrastructure; availability of investments, funds, and grants from government bodies; and rising geriatric population.
However, High cost of urology endoscopes and endovision systems, and unfavorable healthcare reforms in the U.S. is expected to restrain the growth of this market to a certain extent. Moreover, the growing healthcare market in emerging economies, and increasing number of free-trade agreements are expected to provide growth opportunities for players operating in this market.
In the coming years, North America is expected to account for the largest share of the urology surgical instruments market. Factors such as the favorable reimbursement scenario and government initiatives to combat prostate cancer in the U.S., investments by hospitals to upgrade surgical/operating rooms and purchase new urology surgical equipment, and increase in the number of ambulatory surgical centers (ASCs) in the U.S., high incidence rate of urological cancer and the new funding model for Canadian hospitals are contributing to the large share of the North American region.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period (2016-2021). The high growth of this region can be attributed to favorable prospects for the growth of the urology surgical instruments market, growing healthcare industry in Japan, government investments to improve the medical infrastructure, penetration of key players in the Chinese market, growing preference for minimally invasive surgeries & improving healthcare infrastructure, German-Asian partnerships stimulating market growth, Asian countries leading medical tourism destinations, growing number of hospitals in Singapore and South Korea, and favorable healthcare system in Australia are expected to propel the urology surgical instruments market in the Asia-Pacific region.
Read expert analysis about the global Urology Surgical Instruments Market by product and application.
https://www.marketsandmarkets.com/Market-Reports/urology-surgical-instrument-market-120080018.html
( Source: https://listnewpress.wordpress.com/2019/01/28/urology-surgical-instruments-market-by-product-future-growth-share )
However, High cost of urology endoscopes and endovision systems, and unfavorable healthcare reforms in the U.S. is expected to restrain the growth of this market to a certain extent. Moreover, the growing healthcare market in emerging economies, and increasing number of free-trade agreements are expected to provide growth opportunities for players operating in this market.
In the coming years, North America is expected to account for the largest share of the urology surgical instruments market. Factors such as the favorable reimbursement scenario and government initiatives to combat prostate cancer in the U.S., investments by hospitals to upgrade surgical/operating rooms and purchase new urology surgical equipment, and increase in the number of ambulatory surgical centers (ASCs) in the U.S., high incidence rate of urological cancer and the new funding model for Canadian hospitals are contributing to the large share of the North American region.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period (2016-2021). The high growth of this region can be attributed to favorable prospects for the growth of the urology surgical instruments market, growing healthcare industry in Japan, government investments to improve the medical infrastructure, penetration of key players in the Chinese market, growing preference for minimally invasive surgeries & improving healthcare infrastructure, German-Asian partnerships stimulating market growth, Asian countries leading medical tourism destinations, growing number of hospitals in Singapore and South Korea, and favorable healthcare system in Australia are expected to propel the urology surgical instruments market in the Asia-Pacific region.
Read expert analysis about the global Urology Surgical Instruments Market by product and application.
https://www.marketsandmarkets.com/Market-Reports/urology-surgical-instrument-market-120080018.html
( Source: https://listnewpress.wordpress.com/2019/01/28/urology-surgical-instruments-market-by-product-future-growth-share )
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