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Global Urethral Stricture Treatment Devices Market was Valued at USD 1.48 Billion in 2020, Growing at a CAGR of 7.10% During The Forecast Period from 2022 to 2027

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Global Urethral Stricture Treatment Devices Market was Valued at USD 1.48 Billion in 2020, Growing at a CAGR of 7.10% During The Forecast Period from 2022 to 2027

June 29
05:16 2022
Global Urethral Stricture Treatment Devices Market was Valued at USD 1.48 Billion in 2020, Growing at a CAGR of 7.10% During The Forecast Period from 2022 to 2027

The global urethral stricture treatment devices market was valued at USD 1.48 billion in 2020, growing at a CAGR of 7.10% during the forecast period from 2022 to 2027 to reach USD 2.23 billion by 2027. The demand for urethral stricture treatment devices is witnessing a surge majorly due to the rising prevalence of cancers in the pelvic region such as colorectal and prostate cancers wherein the cancer treatment is linked with an increased probability of urethral stricture formation, growing prevalence of benign prostatic hyperplasia in which urethral stricture may form as a complication of surgical interventions, increasing geriatric population wherein aging plays a major role in the development of numerous diseases such as neurogenic bladder leading to the development of urethral strictures due to extensive use of urinary catheters, and advancements in product development such as drug-eluting urology balloon thereby boosting the growth of the urethral stricture treatment devices market during the forecast period.

 

Urethral Stricture Treatment Devices: An Overview

A urethral stricture treatment device is a medical device that helps in treating the narrowing of the urethra by opening it up and helping in the passage of urine. Urethral dilators, urology balloons, and urethral stents among other interventions.

 

Discover more related information from the market report- Urethral Stricture Treatment Devices Market Share

 

Recent Developmental Activities in Urethral Stricture Treatment Devices Market:

  • In December 2021, Urotronic received the regulatory approval from the US Food and Drug Administration for their product- Optilume, durg-coated urology balloon, which elutes a highly lipophilic drug, paclitaxel that limits hyperactive cell proliferation and the fibrotic scar tissue generation that results in stricture recurrence.

 

Key Takeaways from the Urethral Stricture Treatment Devices Market Report Study

  • Market size analysis for current urethral stricture treatment devices market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the urethral stricture treatment devices market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the global urethral stricture treatment devices market.
  • Various opportunities available for the other competitor in the urethral stricture treatment devices market space.
  • What are the top performing segments in 2021? How these segments will perform in 2027.
  • Which is the top-performing regions and countries in the current urethral stricture treatment devices market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for urethral stricture treatment devices market growth in the coming future?

 

Urethral Stricture Treatment Devices Market Dynamics

The urethral stricture treatment devices market is observing a surge in product demand due to plethora of reasons with one of them being the rising prevalence of various cancers specifically in the pelvic region such as colorectal and prostate cancers. As per the data cited by the World Health Organization (WHO), in 2020, cancer of the colon and rectum were the third-most common cancer type globally and accounted for 1.93 million new cases. In the same factsheet by the WHO, in 2020, prostate cancer was the fourth-most prevalent cancer type globally and accounted for 1.41 million new cases. Urethral strictures have been associated as a complication of radiation treatment for prostate and rectal cancers, surgery for an enlarged prostate or prostate cancer, or trauma to the genitals or perineum. It has been established in various studies that radiation therapy for cancer treatment, particularly prostate cancer, leads to reduced vascularity around the treatment area.

Furthermore, the risk for developing urethral strictures appear to enhance further in patient receiving both the brachytherapy and external beam radiation therapy. Additionally, it has also been reported that radial prostatectomy also significantly increases the chances of the formation of urethral strictures thereby indicating that treatment of cancers in the pelvic region may result in the formation of urethral strictures. Therefore, the rising prevalence of cancers in the pelvic region may result in the increased incidence of urethral strictures which in turn may drive the demand for urethral strictures treatment devices ultimately driving the urethral strictures treatment devices market during the forecast period.

 

 Urethral Stricture Treatment Devices Market Demand

Another important aspect driving the demand for urethral stricture treatment devices market is the rising geriatric population. As per the statistics quoted by the World Health Organization in their Decade of Healthy Ageing (2020–2030) Report, it has been estimated that people in the age bracket of 60 years and older will account for 34% more share in the total population, increasing from one billion in 2019 to 1.4 billion by 2030. The report further mentioned that by 2050, the global elderly population is expected to reach 2.1 billion. Aging is considered as one of the key risk factors that heavily contributes in the development of various indications such as benign prostatic hyperplasia (BPH), neurogenic bladder among other indications. BPH is most commonly treated by simple prostatectomies and transurethral resection of the prostate wherein urethral strictures are reported as a common complication. Furthermore, the increasing prevalence of neurogenic bladder also results in the increased chances of urethral stricture formation due to trauma or injury caused with the extensive use of urinary catheters. Therefore, the rising geriatric population is expected to result in increasing prevalence of diseases such as BPH where the treatment may result in the formation of urethral strictures, thereby bolstering the growth of the urethral stricture treatment devices in coming years.

 

COVID-19 Impact on Urethral Stricture Treatment Devices Market

Besides the above-mentioned factors, the urethral stricture treatment devices market registered a period of decline in revenue generation due to the COVID-19 pandemic. The lockdown implemented by various governments worldwide to contain the spread of the COVID-19 infection resulted in postponement of outpatient consultations and various surgeries across all medical specialties specifically impacting elective procedures. This led to a considerable reduction in the demand for urethral stricture treatment procedures were classified under non-emergency procedures. Furthermore, the implementation of global lockdown in also impacted the procurement and supply chain. Although, the regulatory approval of various COVID-19 vaccines and mass vaccination programs have been crucial in reestablishing the demand for urethral stricture treatment devices, thereby presenting a positive growth environment for the urethral stricture treatment devices market during the forecast period. However, device-related complications and the availability of alternative surgical approaches such as urethroplasty may be limiting factors for the growth of the urethral stricture treatment devices market.

 

Urethral Stricture Treatment Devices Market Segment Analysis

Urethral Stricture Treatment Devices Market by Product Type (Urethral Dilators, Urethral Stents, Urethral Balloon Dilation Catheters, and Urinary Catheters), by Stricture Location (Anterior and Posterior), by End User (Hospitals, Specialty Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product segment of the urethral stricture treatment devices market, the urethral balloon dilation catheters category is expected to register a healthy CAGR in the urethral stricture treatment devices market during the forecast period. This can be attributed to the advantages offered by these devices over their counterparts. Balloon dilation is a well-tolerated, safe, office-based procedure that offers multiple advantages over sequential rigid dilation and internal urethrotomy. It is associated with minimal complications. Furthermore, urethral balloon dilation is considered as a minimally invasive technique that has the potential advantage of being less morbid and is technically less challenging to perform. It is also considered to be less traumatic than sequential rigid dilatation.

 

Urethral Stricture Treatment Devices Market is expected to dominate North America

Among all the regions, North America is estimated to account for the largest share in the urethral stricture treatment devices market. This domination is due to the increase in prevalence of sexually transmitted diseases, increasing prevalence of cancers in the region. Furthermore, the rising geriatric population as well as growing cases of obesity in the US population are also expected to result in growing number of urethral strictures in the North American region. Additionally, extensive research and development activities pertaining to product development and conducive regulatory environment further helps product manufacturers to generate more revenue from the region.

 

Urethral Stricture Treatment Devices Market Factors

One of the key driving factors of the United States urethral stricture treatment devices market is the interplay of various factors in the country. For instance, as per the data cited by the Centers for Disease Control and Prevention (2021), in 2019, 2.6 million cases of sexually transmitted diseases were reported in the country registering a 6th–consecutive year increase from 1.4 million in 2014. STDs like gonorrhea are reported to cause infection and inflammation in the urethra, leading to scarring and stricture. Some chronic inflammatory skin conditions like lichen sclerosus can also cause urethral strictures. Therefore, the presence of large patient population suffering from sexually transmitted diseases correlates to the presence of a potential patient population that may resort to using urethral stricture devices as a treatment method, thus driving the product demand in the nation.

 

Urethral Stricture Treatment Devices Market Companies

Some of the key market players operating in the urethral stricture treatment devices market includes Boston Scientific Corporation, Laborie, Cook, Teleflex Incorporated, B. Braun Melsungen AG, Allium Ltd., Pnn Medical A/S, Zhejiang ChuangXiang Medical Technology co., LTH, UROMED Kurt Drews KG,  Med pro Medical B.V.,  BD, Cardinal Health. Coloplast, ConvaTec Inc, BACTIGUARD AB and others.

 

Learn more about the market report- Urethral Stricture Treatment Devices Market Size

 

Table of Content

1. Urethral Stricture Treatment Devices Market Report Introduction

2. Urethral Stricture Treatment Devices Market Executive Summary

3. Regulatory Analysis

4. Urethral Stricture Treatment Devices Market Key Factors Analysis

5. Urethral Stricture Treatment Devices Market Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Urethral Stricture Treatment Devices Market

7. Urethral Stricture Treatment Devices Market Layout

8. Urethral Stricture Treatment Devices Market Company and Product Profiles

9. KOL Views

10. Project Approach

11. About DelveInsight

12. Disclaimer & Contact Us

 

About Us

DelveInsight is a Business Consulting and Market research company, providing expert business solutions for life science vertical and offering quintessential advisory services in the areas of R&D, Strategy Formulation, Operations, Competitive Intelligence, Competitive Landscaping, and Mergers & Acquisitions.

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