Pune, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Global kidney stone management market size is expected to rise prominently on account of the increasing cases of kidney stone among people worldwide. This is further attributed to the formation of crystal-like substances such as uric acid, oxalate, and calcium which cannot be diluted in the urine as a result of consuming food and drinks that are rich in phosphate and oxalate.
A recent report by Fortune Business Insights, titled, “Kidney Stone Management Market Size, Share & COVID-19 Impact Analysis, By Type (Lithotripsy, Ureteroscopy, and Percutaneous Nephrolithotomy (PCNL) By End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and Regional Forecast, 2020-2027,” states that the market was valued at USD 1.47 billion in 2019 and is anticipated to rise at a CAGR of 5.3% to reach USD 2.21 billion by the end of 2027.
Major Industry Developments of the Market Include:
October 2017 – MOSES holmium technology was launched by Lumenis for the use in urology in India. This is a pulse delivery technology that results in BPH treatments and efficient lithotripsy as compared to the traditional pulse.
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The Report Answers the Following Questions:
- How fierce is the kidney stone treatment devices market competition?
- Who are the major players and what are their blueprints?
- Which innovations will add impetus to the urolithiasis management market?
- Which are the recent industry developments of the market?
Advent of Miniaturized Surgery to Propel Growth
The increasing prevalence of kidney stones and the advent of surgeries with less-spot pain, minimal complications, or minimally invasive technologies are the key factors promoting the kidney stone management market growth. This, coupled with the reimbursement policies provided by the governments of various countries, would also aid in the expansion of the market in the forecast period.
Additionally, the advent of latest innovations in medical technology such as miniaturized surgery, disposable ureteroscope, flexible fibre-optic ureteroscope, and holmium laser technology is further expected to add impetus to the urinary stone management devices market in the forecast period.
Currently, the COVID-19 pandemic has brought about many devastating effects on both human life and the world economy. Lockdown is followed globally and this has impacted most businesses, both on national and international levels. However, we hope to overcome this panic phase soon and things would get back to normal with support from the government. We, at Fortune Business Insights, are offering special reports on various markets that have exhibited a significant impact owing to the coronavirus.
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Ureteroscopy Segment to Draw Maximum Share Owing to its Low Recurrence Rates
Based on segmentation by type, the ureteroscopy segment earned 51.51% kidney stone management market share and emerged dominant. This is because it treats those stones that are invisible on an x-ray machine, followed by its high success and low recurrence rates, thereby aiding to the expansion of the overall urolithiasis management market.
North America Emerged Dominant Accountable tos Increasing Awareness Among Patient Population
Geographically, North America earned a revenue of USD 555.7 million in the year 2019 and emerged dominant. This occurred on the account of the high prevalence of stone diseases in the region, coupled with the favorable health reimbursement policies offered by the governments of the respective nations. Furthermore, a rise in the awareness about stone diseases and the availability of the latest medical devices for diagnostic purposes are expected to help the region continue dominating the kidney stone management market in the coming years.
On the other side, Asia Pacific is expected to rise at a rapid CAGR during the forecast period. This is owing to the increasing patient awareness, a large number of patient pool, and improving healthcare infrastructure and facilities in the developing nations.
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Players Focusing on Strengthening their Portfolios to Hold Dominance in Market
The global market for kidney stone management devices is highly fragmented owing to the presence of many players. They are emphasizing on expanding their product portfolio to various geographies for gaining a significant position in the market. The others are adopting collaborative strategies and joint ventures to earn a competitive edge in the market competition.
Some of the Key Players of Kidney Stone Management Market Include:
- Lumenis (Israel)
- C.R. Bard Inc. (BD) (US)
- Cook Medical Inc. (US)
- DirexGroup (Germany)
- Richard Wolf GmbH (Germany)
- Olympus Corp. (Japan)
- EDAP TMS (France)
- STORZ MEDICAL AG (Switzerland)
- Boston Scientific Corporation (US)
- Other players
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Kidney Stone Management Market Segmentations:
By Type
● Lithotripsy
● Ureteroscopy
● Percutaneous Nephrolithonomy (PCNL)
By End User
● Hospitals
● Specialty Clinics
● Ambulatory Surgical Centers
By Geography
● North America (the U.S., and Canada)
● Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
● Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
● Latin America (Brazil, Mexico, and the Rest of Latin America)
● Middle East & Africa (South Africa, GCC, and the Rest of Middle East & Africa)
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