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Endoscopy is a procedure in which a long tube is inserted in the body to observe internal organ or tissue. They are used to diagnose, monitor, detect and treat urological infections, diagnosis and treatment of bladder tumors, transurethral resection of the prostate, urethral obstruction percutaneous nephrolithotomy. It can be used to perform various tasks which include imaging and minor surgeries. Additionally, investigation, confirmation and diagnosis, and treatment are the major reasons to carry endoscopy.
Technological advancement in urological endoscopy is driving the growth of the market owing to miniaturization of optical technology that helps in quick surgery, narrow band imaging which gives better resolution without the use of dye, minimal invasive surgery that are more beneficial when compared to open surgeries as they help in fast recovery, increased patient satisfaction, shorter hospital stay, decreased post-surgical complications. Furthermore, rise in urinary tract infections, urinary bladder injuries, renal calculi are the major factors that are positively influencing the growth of the market during the forecast period.
Key Market Driver -
Increase in prevalence of urologic diseases
Key Market Restraint -
Stringent government regulation
In addition to this, geriatric population suffering due to various medical complications is also triggering the growth of the market in the near future owing to increase in intestinal performances, pelvic abscess, gall stones and others. Moreover, increase in research and development activities by manufactures for product line development is also propelling the market growth. For instance, uretreoscopes have been merged with metal oxide conductor which helps in reduction of surgery time and management of renal calculi. Furthermore, Nano bots are used to treat malignancies in urology is emerging as the potential opportunity for the growth of urology endoscopes market during the course of period.
However, lack of skilled professionals, data complexity sharing and security, lack in technology penetration are hindering the growth of the market.
The major companies in the urological endoscopy market report include Boston Scientific Corporation, Cook Medical Inc., Medtronic, Richard Wolf GmbH, Olympus Corporation, Siemens Healthcare, Stryker, KARL STORZ.
Geographically, the urology endoscopes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the market owing to the rise in the prevalence of urinary disorders, a rise in healthcare expenditure, and early adoption of technology. Europe is the second-largest contributor in the market owing to the presence of developed healthcare infrastructure.
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Asia Pacific is anticipated to witness lucrative growth owing to the rise in geriatric population, increase in healthcare awareness, and government initiatives related to cancer treatments, increase in cancer research and development activities. Latin America, Middle East and Africa are also expecting to experience lucrative growth owing to rise healthcare awareness.
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