Urethral Stricture Treatment Devices Market: Current Analysis and Forecast (2021-2027)

Urethral stricture is a condition in which the urethral opening becomes narrow due to injuries, scars, or infection. A stricture obstructs the free flow of the urine through the urethra. Therefore, urethral stents, catheters, or dilators are employed to maintain the flow as the urethral stricture treatment. The growing adoption of urethral stricture treatment devices can be attributed to the rising prevalence of benign prostatic hyperplasia & neurogenic bladder coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly people is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Furthermore, with rapid advancements in technology, many of the industry players are focusing on launching new products in the market to expand their product portfolio, which will drive the market for urethral stricture treatment devices globally. For example, in December 2021, The US Food and Drug Administration (FDA) approved the Urotronic Optilume Urethral Drug Coated Balloon to treat urethral strictures in males. It serves as an alternative to traditional endoscopic stricture treatments for men suffering from urethral strictures.

Based on products, the market is classified into urethral dilators, urethral stents, urethral balloon dilation catheters, and urinary catheters. The urethral balloon dilation catheters segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly in the forthcoming years.

Based on application, the market is segmented into anterior and posterior. The anterior segment grabbed a substantial market share of the urethral stricture treatment devices market and is expected to grow considerably during the projected timeframe as it is more common among the male population.

Based on the end-users, the market is fragmented into hospitals, specialty clinics, and others. The hospitals segment captured a major market share in 2020 and is expected to grow significantly by 2027. However, specialty clinics are also likely to witness lucrative growth during the forecast period.

For a better understanding of the market adoption of the Urethral Stricture Treatment Devices, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the urethral stricture treatment devices industry in 2020 owing to the presence of well-established market players and the rising geriatric population in the region.

Some of the major players operating in the market are Boston Scientific Corporation, Laborie, Cook Medical, B.Braun Melsungen AG, Allium Medical, Becton, Dickinson and Company, Teleflex Incorporated, Pnn Medical A/S, Med pro Medical B.V., Coloplast. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced products.