Cystoscopes Market By Product (Video Cystoscopes, Non-Video Cystoscopes), By End User (Hospitals, Ambulatory Care Services, Clinics) - Growth, Future Prospects & Competitive Analysis, 2018-2026

Cystoscopes Market to Exhibit Steady Growth During the Forecast Period

The global market for cystoscopes accounted for a market value of US$ 334.9 million in 2017 and is expected to attain a market value of US$ 612.4 million by 2026, at a CAGR of 6.9% during the forecast period from 2018 to 2026. Video cystoscopes captured the maximum market share in 2017 and maintained dominance through 2026 as well. Of the available non-video cystoscopes, flexible non-video cystoscopes are estimated to have the fastest CAGR during the forecast period from 2018 to 2026. Easy viewing of complete anatomy, enabling enhanced diagnostic and treatment procedures, is the primary reason for catalyzing the video cystoscope market's growth. Cystoscopes are widely adopted by hospitals owing to the availability of skilled professionals and the desired sterile environment for procedures to be carried out. Hospitals thus accounted for the largest market share in 2017 and continued to enjoy supremacy through 2026 as well. With the introduction of newer and more advanced cystoscopes to the market, as well as their ease of use, there is a certain demand for them among ambulatory care services, resulting in the fastest CAGR during the forecast period. According to Photocure ASA (February 2018), approximately 1.2 million cystoscopies are performed in the United States each year. The rising incidence rate of urethral infections due to cross-contamination can be reduced by the use of disposable cystoscopes. Currently, manufacturers do provide a disposable end sheath protective barrier that ensures minimal patient-to-device contact, thus preventing contamination. Disposable cystoscopes would cater to various benefits such as ease of use for staff, reduced preparation time, and a high safety margin.

The cystoscope market encompasses a vast market reach across various geographies owing to the rising prevalence of bladder cancer, kidney stones, and other bladder conditions. Rising awareness about newer cystoscopes has created a demand for them across the globe, thus catalyzing the overall market's growth. North America accounted for the maximum market share of above 38% in 2017 in terms of value, while Asia Pacific accounted for the fastest CAGR during the forecast period. The growing prevalence of bladder conditions, developing healthcare infrastructure, and the rising prevalence of skilled healthcare professionals have contributed to Asia Pacific's market growth in the forecast period.

Market Synopsis

video cystoscopes to maintain supremacy throughout the forecast period

Video cystoscopes accounted for the maximum market share in 2017 and are expected to continue similar trends during the forecast period from 2018 to 2026 as well. Video cystoscopes enable enhanced diagnosis with a shorter procedural time, thus gaining maximum market attractiveness. Rising investments in developing advanced cystoscopy technologies have driven the market's growth. Blue Light Cystoscopy with Cysview is the most recent advancement in video cystoscopy technology that improves diagnostic technique while reducing procedure time. This advancement has further catalyzed the global video cystoscope market. Rising demand for minimally invasive procedures, the increasing prevalence of bladder cancer and other urological conditions, and continuous research activities indicate steady market growth for video cystoscopes. Non-video cystoscopes are gaining popularity among end users with limited financial resources. The demand for these cystoscopes is steady, primarily in low- and middle-income countries.

Hospitals continue to maintain supremacy across the forecast period.

Hospitals contributed the most to overall market growth in 2017 and will maintain their dominance through 2026. Hospitals are made up of skilled professionals who use newer technologies to maintain their status, provide desirable sterile conditions, and have a lot of money to spend, all of which contribute to the overall growth of the cystoscopes market. Ambulatory care services will grow at the fastest rate during the forecast period from 2018 to 2026. The increase in healthcare establishments and growing benefits for health insurance companies primarily account for its growth. According to a 2017 article published by the American College of Surgeons (FACS), shifting outpatient procedures from hospitals to ambulatory care services could save Medicare $25 billion over ten years.

North America enjoyed supremacy in 2017 and will continue the trend through 2026.

North America accounted for the largest market share of above 38% in 2017 and continues to maintain this trend through 2026. Developed healthcare infrastructure, a rise in awareness about the availability of newer and more advanced cystoscopes, increased investments by industrial players in research activities, and the high disposable income of patients have favored the market's growth in North America. Furthermore, the rising prevalence of bladder cancer and kidney stones is propelling the North American market forward. As per the American Cancer Society, 81,190 new cases of bladder cancer are estimated to be reported in 2018, along with 17,240 probable deaths in the same year. Asia Pacific exhibited the fastest CAGR during the forecast period, owing to the growing prevalence of bladder cancer, an increase in the adoption of new cystoscopic technologies, and growing medical tourism.

The highly competitive global cystoscope market offers new market participants opportunities.

The global cystoscopes market comprises market players with vast market outreach. Market leaders continuously invest in developing new and advanced cystoscopes, making the market competitive. Market players such as Olympus Corporation and Karl Storz GmbH & Co. KG have adopted the new blue light cystoscopy technology, giving them a competitive edge in the market. Credence Research, Inc. believes that enhanced development in disposable cystoscopes would create market attraction among consumers. Development in line with this unmet need creates opportunities for emerging market players.

Periods of History and Forecast

The study report comprises market analysis for each considered segment for the period from 2016 to 2026, keeping 2017 as the base year. Forecast analysis for each segment has also been incorporated for the period from 2018 to 2026.

Report Scope by Segments

The global cystoscopes market encompasses current market trends and dynamics pertaining to various products available in the market, their market attractiveness, and their competitive landscape. The market dynamics have been explained in terms of market opportunities, drivers, and restraints. The primary goal of this research report is to assist market participants and other entities in the cystoscopes market with brand management and strategic planning.

The report also comprises a graphical representation of the competitive landscape, depicting the market positions of key market leaders based on their market initiatives, product portfolios, financial information, and key developments. Key market leaders profiled in this report are Cogentix Medical, Inc., Fujifilm Corporation, Henke Sass Wolf GmbH, Karl Storz GmbH & Co. KG, Laborie Medical Technologies, Inc., Maxer Endoscopy GmbH, Medline Industries, Inc., Olympus Corporation, PENTAX Medical Company, Richard Wolf GmbH, and Stryker Corporation.

Frequently Asked Question:

The market for Cystoscopes Market is expected to reach USD$ 612.4 Mn in 2026.

The Cystoscopes Market is expected to see significant CAGR growth over the coming years, at 6.9%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Cogentix Medical, Inc., Fujifilm Corporation, Henke Sass Wolf GmbH, Karl Storz GmbH & Co. KG, Laborie Medical Technologies, Inc., Maxer Endoscopy GmbH, Medline Industries, Inc. are some of the major players in the global market.

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Published Date:  May 2018
Category:  Medical Devices
Report ID:   59145
Report Format:   PDF
Pages:   120
Rating:    4.3 (65)
Delivery Time: 24 Hours to 48 Hours   
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