SAN JOSE, Calif., June 06, 2018 (GLOBE NEWSWIRE) -- The latest market report published by Credence Research, Inc. “ Cystoscopes Market Growth, Future Prospects, and Competitive Analysis, 2018 -2026 ” the global cystoscopes market will be valued at US$ 612.4 Mn by 2026.
Market Insights
The global cystoscopes market accounted to a market value of US$ 334.9 Mn in 2017 and expected to grow with a CAGR of 6.9% during the forecast period from 2018 to 2026. Minimal invasion technique, growing research activities in enhancing cystoscope technology, reduced procedural time, and growing healthcare infrastructure primarily catalyze the overall cystoscopes market growth. As per the American Cancer Society, around 81,190 new cases of bladder cancer estimated to be diagnosed in 2018. According to a research study by Justin B. Ziemba and Brain R. Matlaga published in 2017 (Epidemiology and economics of nephrolithiasis; Investig Clin Urol.2017 Sep;58 (5):299-306), nephrolithiasis (kidney stones) was prevalent in 10.6% of men and 7.1% of women in the U.S. Blue Light Cystoscopy (BLC) with Cysview. Cystview is the latest development to cystoscopes that aids in better diagnosis of bladder cancer thereby catalyzing the cystoscopes market. Industrial players namely Olympus Corporation and Karl Storz GmbH & Co. KG have adopted the BLC technique ensuring steady growth of this market.
Of the products types offered by various market players, video cystoscopes accounted for maximum market share in 2017. The advent of BLC technique, easy to use attribute, better imaging & diagnostic features and cost-efficiency primarily contributed to the increasing demand for video cystoscopes. The demand for non-video cystoscopes yet exists among hospitals or clinics with low budget requirements. Hospitals form the primary end users for cystoscopes indicating maximum market share in 2017. The reason for this attributed to its developed healthcare infrastructure, high disposable income, presence of skilled professionals and availability of desired sterile conditions.
The cystoscopes market has gained extensive market attraction across the globe owing to its enhanced diagnostic properties along with growing prevalence of bladder cancer that increases the demand for the same. Of the geographies analyzed, North America accounted for maximum market share in 2017 and expected to continue similar trends through 2026 as well. Continuously growing economy, high disposable income of people, well-structured healthcare policies and constant research activities primarily drives North Americas’ cystoscopes market.
The global cystoscopes market encompasses extensive competitive pool comprising market leaders such as Cogentix Medical, Inc., Henke Sass Wolf GmbH, Fujifilm Corporation, Karl Storz GmbH & Co. KG, Maxer Endoscopy GmbH, Laborie Medical Technologies, Inc., Medline Industries, Inc., PENTAX Medical Company, Olympus Corporation, Stryker Corporation and Richard Wolf GmbH.
Key Market Movements:
- Global cystoscopes market experienced steady growth with a CAGR of 6.9% during the forecast period from 2018 to 2026
- Increase in prevalence of kidney stones & bladder cancer along with the growing awareness of cystoscopes accounts to steady growth of this market
- Of the end users, hospitals dominated the market owing to their developed infrastructure, availability of skilled professionals and increased patient trust on hospital procedures
- Video cystoscopes accounted for maximum market share in 2017 and expected to maintain similar trends through 2026 as well
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/cystoscopes-market
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