A plasma resectoscope is a medical device used in urology surgeries to perform transurethral resection of the prostate (TURP) and to remove bladder tumors. Rising prevalence of benign prostatic hyperplasia (BPH) and prostate cancer, which require minimally invasive treatment procedures, is a key factor boosting the adoption of plasma resectoscopes. The non-invasive treatment procedures related to plasma resectoscopes helps minimize pain and rehabilitation time for patients.
The Global Plasma Resectoscope Market is estimated to be valued at US$ 349.64 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the plasma resectoscope market are Tarmac, Delta Sand & Gravel Co., LafargeHolcim Ltd., Aggregate Industries Management, Inc., CEMEX, Vulcan Materials Company, CESPA, Green Stone Materials, CRH Plc., and Heidelberg Cement AG. These players are focusing on new product launches and geographical expansion strategies to strengthen their market position.
The growing geriatric population worldwide prone to urological disorders also presents significant growth opportunities for players in the plasma resectoscope market. Furthermore, technological advancements in resectoscope design improving surgical efficacy and safety has enabled wider global expansion of major players.
Market Drivers
One of the key drivers for the plasma resectoscope market is the rising prevalence of prostate diseases globally. According to WHO, about 6.6 million men are diagnosed with prostate cancer each year. Moreover, 50% of men in their 50s and 70% of men in their 60s and older are reported to have microscopic BPH symptoms. This is expected to drive the demand for minimally invasive procedures like TURP using resectoscopes.
Market Restraints
High costs associated with plasma resectoscopes compared to conventional electrosurgical devices is a major challenge hampering their adoption in price sensitive developing regions. Additionally, the lack of availability of trained urologists to perform specialized procedures like TURP poses difficulties in widespread market penetration. This necessitates extensive training and educational programs for urologists especially in low and middle income countries.
Segment Analysis
The Global Plasma Resectoscope Market Size can be segmented based on type, application and region. By type, the single flow plasma resectoscope segment dominates the market. Single flow plasma resectoscopes allow for simultaneous irrigation and aspiration using a single flow channel, making them more efficient for procedures. By application, the treatment of Benign Prostatic Hyperplasia (BPH) segment holds the largest share. Plasma resectoscopes are widely used for treating non-cancerous enlargement of the prostate gland and this condition majorly affects aging men.
Global Analysis
On the regional front, North America is expected to witness the highest growth in the plasma resectoscope market during the forecast period. This is attributed to factors such as increasing healthcare expenditure, rising geriatric population who are more prone to BPH and other diseases requiring plasma resection, and growing awareness about effective treatment options. Asia Pacific is anticipated to grow at the fastest pace owing to rising medical tourism, improvement in healthcare infrastructure and growing focus of market players on tapping opportunities in developing nations.
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