Urology Medical Lasers Global Market To Reach Value Of About $1.03 Billion In 2023
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The global urology medical lasers market is expected to decline from $0.93 billion in 2019 to $0.87 billion in 2020 at a compound annual growth rate (CAGR) of -6.07%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.03 billion in 2023 at a CAGR of 5.60%. Rising cases of urological disorders contribute to the demand for the urology medical lasers market.
The urology medical lasers market consists of sales of urology medical lasers and related services by entities (organizations, sole traders, and partnerships) that manufacture urology medical lasers. Medical lasers are a non-invasive and efficient source of light used to tissue treatment that provides fast healing without discoloration or scarring. Urology medical lasers are used in the treatment of medical conditions related to the urinary system such as urinary stones, benign prostatic hyperplasia (BPH), bladder or prostate cancer, and traumatic injuries.
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The Global Urology Medical Lasers Market is further segmented based on laser type, application and geography.
By Laser Type: Holmium Laser System, Diode Laser System, Thulium Laser System, Others.
By Application: Benign Prostatic Hyperplasia (BPH), Urolithiasis, Non-Muscle-Invasive Bladder Cancer (NMIBC), Others.
By Geography: The global urology medical lasers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American urology medical lasers market was the largest region in the global urology medical lasers market 2019.
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Trends In The Urology Medical Lasers Market
Major players operating in the market are continuously focusing on developing new products incorporating advanced technology to meet the requirement of medical professionals. Mergers and Acquisitions of companies will expand manufacturing, improve clinical outcomes, reduce costs and enhance the quality of life of patients.
Urology Medical Lasers Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides urology medical lasers market overviews, analyzes and forecasts market size and growth for the global urology medical lasers market, urology medical lasers market share, urology medical lasers market players, urology medical lasers market segments and geographies, urology medical lasers market’s leading competitors’ revenues, profiles and market shares. The urology medical lasers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.