Pune, India, May 29, 2019 (GLOBE NEWSWIRE) -- The global urethral stricture market is expected to exhibit a CAGR of 7.30% over the forecast period from 2018 to 2023, according to the latest research report published by Market Research Future (MRFR). The global urethral stricture market is mainly driven by the growing demand for more efficient diagnostic and treatment modalities for urethral and kidney-related conditions. The growing government investment in the healthcare sector is likely to drive the global urethral stricture market over the forecast period.

Urethral strictures refer to a narrowing of the urethra, the last part of the urinary system, which is a tube that excretes the urine outside the body. This can result in pain and difficulty in urinating, including a sensation of not having completely emptied the bladder and retention of urine. These symptoms may make life highly uncomfortable for the patient. This has driven increased research in urethral strictures in recent years, which is likely to be a major driver for the global urethral strictures market over the forecast period. Trauma to the pelvic bone is the most prevalent cause of urethral strictures. The increasing incidence of pelvic bone trauma cases is thus likely to be a key driver for the global urethral strictures market over the forecast period.

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The increasing research into the development of effective cures for prostate cancer can also result in increased growth prospects and opportunities in the global urethral stricture market, as urethral strictures have emerged as a key side effect in major projects targeted at discovering effective prostate cancer remedies. This is likely to drive increased research in the field of urethral strictures over the forecast period, leading to steady growth of the global urethral stricture market.

The growing demand for cost-effective medications for urethral strictures is likely to be a defining feature of the global urethral stricture market over the forecast period. Another aspect of this driver is the decreasing popularity of invasive surgeries and the consequent growth in interest in minimally invasive or noninvasive surgeries. This has driven the demand for cost-effective, noninvasive medications for urethral strictures, which is likely to drive steady growth of the global urethral stricture market over the forecast period. The growing geriatric population around the world is also likely to be a major driver for the global urethral stricture market, as urethral strictures are most common in men above 55 years of age.

Competitive Analysis:

Leading players in the global urethral strictures market include Olympus Corporation, Cook Medical Inc., Bard Medical, Boston Scientific Corporation, SRS Medical, Richard Wolf, and Lumentis Ltd.

Segmentation:

The global market for urethral strictures can be segmented by type, condition, cause, treatment, gender, end user, and region.

By type, the global urethral stricture market includes posterior urethral strictures and anterior urethral strictures. The posterior urethral strictures segment is currently dominating the global urethral stricture market and is likely to hold on to its lead over the forecast period due to the increasing development of new drugs capable of dealing with posterior urethral strictures in an effective way.

Based on condition, the global urethral stricture market is segmented into hypospadias & epispadias, urinary incontinence, and others. The hypospadias and epispadias segment dominates the global urethral stricture market and is likely to remain the leading revenue generator over the forecast period due to its increasing prevalence. The segment accounted for USD 468.8 million in 2017 and is expected to exhibit the highest CAGR over the forecast period.

Based on cause, the global urethral stricture market is segmented into iatrogenic, idiopathic, infection-induced, and trauma. The iatrogenic segment accounted for the largest valuation of USD 284 million in 2017 and is likely to exhibit a strong CAGR over the forecast period.

On the basis of treatment, the global urethral strictures market is segmented into urethral dilation, direct vision internal urethrotomy (DVIU), urethroplasty, and others. Urethroplasty is likely to dominate the global urethral stricture market over the forecast period due to its widespread demand. However, the urethral dilation segment is also expected to exhibit a strong CAGR over the forecast period, as this method has received increasing interest over the last few years.

By gender, the male segment accounts for the largest share in the global Urethral Stricture Market and is expected to remain in the lead over the forecast period.

By end use, the global urethral stricture market is segmented into hospitals, ambulatory surgical centers, urologic clinics, and others. Hospitals are likely to dominate the urethral stricture market over the forecast period due to their high throughput of patients.

Browse the market data and information spread across 100 pages with 562 data tables and 23 figures of the report “Urethral Stricture Market - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/urethral-stricture-market-6001

Regional Analysis:

The Americas are likely to dominate the global urethral stricture market over the forecast period due to the growing prevalence of urethral strictures in the region and the growing availability of effective medications against the condition.

Europe is also likely to hold a considerable share in the global urethral strictures market over the forecast period, following the Americas in terms of total market share.

Asia Pacific is likely to exhibit the highest growth rate over the forecast period due to the growing patient demographic in the region and the growing demand for advancement of the healthcare sector.

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