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3. Expansions Was the Major Growth Strategy Adopted by Players in the Global Urology Surgical Instruments Market

The urology surgical instruments market is dominated by various companies including Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Coloplast A/S (Denmark), Cook Medical Inc. (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Teleflex incorporated (U.S.), Stryker Corporation (U.S.), CooperSurgical, Inc. (U.S.), and ConMed Corporation (U.S.).

Expansions, new product launches, marketing and promotional activities, acquisitions, agreements/collaborations/contracts/partnerships, and other strategies (market development, app launches, and product enhancement) are major strategies adopted by players to achieve growth in the urology surgical instruments market.

Expansions accounted for 28% of the total developments during 2013 to 2016. Players adopted this strategy to strengthen their distribution networks, expand their presence globally, and cater to the needs of their growing customer base. Key players that adopted these strategies are KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Cook Medical Inc. (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Stryker Corporation (U.S.), and B. Braun Melsungen AG (Germany). For instance, in May 2016, Medtronic expanded into the Asia-Pacific region by opening its regional headquarters in Singapore. This was aimed at strengthening and supporting the company’s operations across 80 locations in the Asia-Pacific region.

The strategy of new product launches accounted for 24% of the total developments during 2013 to 2016. Players adopted this strategy to widen and strengthen their product portfolios. Key players that adopted these strategies are Olympus Corporation (Japan), KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Boston Scientific Corporation (U.S.), Stryker Corporation (U.S.), and B. Braun Melsungen AG (Germany). For instance, in May 2016, Olympus launched its FDA-cleared Plasma-OvalButton, used for urological procedures including minimally invasive surgery. The product is aimed for use in the treatment of enlarged prostate and bladder cancer.

Marketing and promotional activities accounted for 17% of the total strategies adopted by players in this market during 2013 to 2016. Players adopted this strategy to enhance their market positions. KARL STORZ GmbH & Co. KG (Germany), Cook Medical Inc. (U.S.), Teleflex Inc. (U.S.), and Stryker Corporation (U.S.) are the key players that adopted this strategy. For instance, in May 2016, Teleflex participated in the 53rd European Renal, Dialysis and Transplant Congress held at Vienna, Austria. The company showcased its range of interventional products such as ARROW-Clark VectorFlow Hemodialysis Catheter, Arrow Chronic Hemodialysis Catheter portfolio, Arrow NextStep Retrograde and Antegrade product family, Arrow Cannon II Plus, and Arrow Edge products.

Related Reports:

Urology Surgical Instruments Market by Product (Endoscopes, Endovision Systems, Peripheral Instruments, Consumables and Accessories), Application (Chronic Kidney Diseases, Benign Prostatic Hyperplasia, Oncology) - Global Forecast to 2021

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