Urology Forceps Market Introduction
Urology is a branch of science that focuses on surgical and medical diseases of the urinary tract systems. Millions of people across the world are affected by urinary tract system (UTS) disorders, and women are more likely to be affected than men. Urinary tract infection, weakening of pelvic floor muscles & urethral sphincters, menopause, pregnancy & childbirth, and post radical prostatectomy surgery in men lead to the development of urology disorders and urinary incontinence symptoms. According to the Urologic Diseases in America (UDA) project, around US$ 11 Bn is spent by the population of the U.S., annually, for the treatment and management of urological diseases.
Urology Forceps Market - Competitive Landscape
The global urology forceps market is highly fragmented, with several domestic players holding key market share in respective regions. Major players operating in the global urology forceps market are involved in distribution partnerships. As a part of market strategy, players are participating in trade fairs and conferences across the world which is helping urology forceps manufacturers to expand business across the globe.
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Boston Scientific Corporation
Boston Scientific Corporation develops, manufactures, and markets medical devices utilized in a broad range of interventional procedures across the world. The company offers more than 13,000 products in different medical specialties such as urology, cardiology, pulmonology, neurology, gynecology, orthopedic, interventional radiology, and vascular surgery. Boston Scientific Corporation has manufacturing plants in 12 countries across the globe and offices in around 40 countries.
Becton, Dickinson and Company
Becton, Dickinson and Company (BD) is a global medical technology company that engages in the development, manufacture, and sale of a wide range of medical supplies, devices, laboratory equipment, and diagnostic products.
The company markets its products and services to health care institutions, life sciences researchers, clinical laboratories, pharmaceutical industry, and the general public.
Becton, Dickinson and Company operates globally through two business divisions: BD Medical and BD Life Sciences. BD Medical offers medication management solutions, pharmaceutical systems, and medication & procedural solutions. BD Life Sciences offers diagnostics specimens, instruments, and regents.
Other players operating in the global urology forceps market include Millennium Surgical Corp., Cook Medical, Meditech Devices Pvt. Ltd., and Sklar Surgical Instruments.
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Urology Forceps Market - Dynamics
Rise in Prevalence of Diabetes Resulting in High Incidence of ESRD to Fuel Market
Rise in prevalence of renal diseases has increased the patient pool undergoing interventional procedures globally, resulting in high demand for urology devices. Changing lifestyles, rapidly aging population, presence of diabetes, and hypertension contribute to rise in prevalence of renal diseases.
A research published on NCBI indicated that the global prevalence of chronic kidney diseases was 13.4% in 2016, and is higher in developed regions of the world
Rise in Number of Hospitals and ASCs
Demand for urology devices is increasing rapidly due to rise in the number of hospitals and increase in government support for improving the health care sector, especially in Asia Pacific, Latin America, Africa, and the Middle East.
According to the Central Bureau of Health Intelligence, the number of government hospitals in India increased from 4,571 in 2000 to 11,993 in 2011. Additionally, significant rise in the number of hospitals in Asia Pacific, Africa, the Middle East, and Latin America is likely to boost the urology devices market. This is expected to augment the market during the forecast period.
Global Urology Forceps Market - Segmentation
In terms of product type, the global urology forceps market can be classified into:
- Needle Forceps
- Retrieval/Stone Removal Forceps
- Tissue/Biopsy Forceps
- Grasping Forceps
- Hemostatic Forceps
Based on end-user, the global urology forceps market can be divided into:
- Ambulatory Surgical Centers
- Specialty Clinics
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.