With a predicted Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2033, the global genitourinary prostheses market share is poised for significant expansion. The market is anticipated to grow dramatically from a value CAGR of 3.5% over the historical period from 2018 to 2022 to reach a value of US$ 577.9 million by 2023.
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Pioneering Genitourinary Prosthetics for Enhanced Healthcare
The genitourinary prosthetics market is at the forefront of medical innovation, providing advanced prosthetic solutions to enhance the quality of life for patients. These prosthetic devices are particularly instrumental in addressing the needs of individuals with genitourinary issues, offering them renewed confidence and functionality.
Key Drivers:
Several key factors are driving the robust growth of the genitourinary prosthetics market:
- Advanced Materials: Developed countries, such as the USA and Germany, are witnessing a mounting availability of advanced materials for manufacturing prosthetic devices. This has led to the development of more effective and comfortable prosthetic solutions.
- Chronic Infectious Diseases: The growing risk factors associated with the onset of chronic infectious diseases are boosting the demand for genitourinary prosthetics. As healthcare awareness increases, so does the need for improved prosthetic options.
Transforming Healthcare and Quality of Life
The growth of the genitourinary prosthetics market represents a significant step forward in the field of healthcare. By offering advanced prosthetic solutions and addressing the unique needs of patients, this market is poised to enhance the quality of life for individuals facing genitourinary challenges.
The key development in the Genitourinary Prosthetics market is as follows:
- Boston Scientific Corporation launched a backboard device that prevents retropulsion and simplifies the procedure in February 2022. The Stone Cone Nitinol Retrieval Coil is an efficient backboard for simple cases. It strengthens procedural efficiency by preventing stone retropulsion up the ureter and into the kidney.
- Over 200,000 patients are diagnosed with Boston Scientific Corporation’s AMS 800TM Artificial Urinary Sphincter, which was introduced in April 2022. Following prostate surgery, artificial urinary sphincters are the gold standard treatment for male stress urinary incontinence (SUI).
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Key Segments:
By Product Type:
- Devices
- Catheter
- Electronic Stimulator Device
- Stent
- Implants
- Artificial Urinary Sphincter Implants (AUS)
- Inflatable Penile Implant (IPP)
- Testicular Prosthetic Implants
- Grafts
- Synthetic Mesh
- Biological Mesh
- Allograft
- Xenograft
- Suture Anchors
By Material Type:
- Silicon
- Titanium
- Apatite
By End User:
- for Hospitals
- for Clinics
- for Rehabilitation Centers
- for Outpatient Surgical Centers
By Region:
- North America Market
- Latin America Market
- Europe Market
- Asia Pacific Market
- Middle East & Africa Market
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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