Urology Surgical Instrument Market Industry Survey, Market Size, and Competitive Trends
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. The market is being driven by the rising prevalence of BPH, which is driving the demand for BPH-related procedures. The Canadian Journal of Urology revealed that the prevalence of BPH is 14.3% in males of 55–64 age group, compared to 4.7% in men in the 45–54 age group. Similarly, the European Association of Urology Research Foundation reported that 2,072 patients across Germany, Spain, France, Italy, and the U.K. registered for the diagnosis and treatment of lower urinary tract infe...