Given the rising prevalence of prostate diseases, prostate laser surgery market research done by MRFR, predicts strong global growth for prostate laser surgery market, with a CAGR of 7.2% from 2022 to 2030. Because of the rising prevalence of urological issues such as benign prostatic hyperplasia (BPH) and prostate enlargement, prostate laser surgery is in great demand. These ailments are more common in the senior population. The expanding geriatric population is a major factor impacting the growth of the global market for prostate laser surgery.
The ageing population and increased BPH prevalence are expected to propel the global market for prostate laser surgery to significant growth in the coming years. The market is classified according to product type, end-user, and regional considerations. According to the kind of product, the market is split into holmium laser systems and thulium laser systems. Holmium laser systems are expected to have a bigger market share since they can treat larger prostate glands and have a wider range of applications in other medical fields.
Competitive Landscape
The top global prostate laser surgery market players operating in the global industry are Medifocus Inc. and CoreTherm Medical Inc. (US), Lumenis, Richard Wolf (US), Olympus (Japan), Limmer Laser GmbH (Germany), Boston Scientific Corporation (US), JenaSurgical GmbH (Germany), Urologix, LLC. (US), Unique Medical Devices (India), and KARL STORZ SE & Co. KG (Germany).
In terms of end-user, the Prostate Laser Surgery Market is segmented into hospitals, clinics, and others. Hospitals are expected to hold the largest share of the market due to their ability to provide comprehensive medical services and their adoption of advanced medical technologies.
Regional Analysis
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are the key markets for prostate laser surgery. The Americas led the global market due to heightened demand for advanced treatment options and high healthcare expenditure. Also, the concentration of major players in North America acts as a plus for the market growth.
Europe follows the Americas closely and is the second largest market for prostate laser surgery led by Germany and France. Extensive demand for advanced laser surgical devices coupled with rigorous R&D activities in the region supports the market growth. Moreover, the key players in the region are aiming towards product differentiation by the adoption of new technologies.
APAC market is likely to progress as per our prostate laser surgery market report, at a relatively faster rate over the forecast period. Increasing geriatric population, widespread prevalence of urology disorders and rapid adoption of advanced technologies spur the growth of the APAC market.
The MEA market is anticipated to exhibit steady growth over the forecast period due to improving the healthcare sector and growing awareness about urology disorders in the region.
A growing preference for minimally invasive surgical procedures is a significant factor in driving the growth of the global prostate laser surgery market. Laser surgery is associated with benefits such as speedy relief, minimal blood loss, and reduced post-operative complications.
Other driving factors include surging awareness about urological disorders, favorable reimbursement scenario, and continuous R&D efforts to improve laser surgical procedures. Besides, a growing number of FDA approvals for new laser devices stimulate the market growth. On the flip side, the market growth might be restricted by high costs of laser surgical procedures which hinders growth in cost-sensitive markets. Also, lack of awareness, affordability, and preference for other treatment options also limits the market growth considerably.
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