Global Kidney Stone Management Devices Market to Reach Worth USD 1,713.0 Mn by 2022: Credence Research
According to the latest report published by Credence Research, Inc. “Kidney Stone Management Devices: Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the Kidney Stone Management Devices market was valued at USD 1,238.7 Mn in 2015, and is expected to reach USD 1,713.0 Mn by 2022, expanding at a CAGR of 4.7% from 2016 to 2022.
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Market Insights
Growth in incidence of urolithiasis, higher recurrence rate of kidney stone, growing awareness about the disease and available therapies along with technological development in minimally invasive procedures are the major factors that facilitate to the growth of kidney stone management devices. Some of the major risk factors that have added to the prevalence of kidney stone disease are higher rates of obesity, sedentary lifestyle, unhealthy dietary habits, rise in aging population, and increasing prevalence diabetes and hypertension.
Extracorporeal shock wave lithotripsy (ESWL), intracroporeal lithotripsy/uteroscopy, and percutaneous nephrolithotripsy (PCNL) are the major methods used for treating kidney stone management. Among these, uteroscopy has been consistently gaining popularity and adoption and it is anticipated that the trend shall continue through the forecast period. Intracorporeal lithotripsy is highly preferred over ESWL and PCNL for treating symptomatic stones in kidneys. Introduction of flexible endoscopes and related accessories further added to the popularity of intracorporeal lithrotripsy in the global market. Holmium laser-based uteroscopy reduces the procedure time, sittings required and avoids the use of extraction equipment such as baskets, thus the urging additional growth to the market.
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Among the geographical markets, North America (particularly the United States) is the largest regional market for kidney stone management devices. High prevalence and recurrence rates of kidney stone in the region, higher awareness, greater preference for minimally invasive procedures and favorable reimbursement structure are the prime factors that support the dominance of this region on the global front. In addition, Asia-Pacific, and Middle East and Africa markets will witness the fastest growth on the global front. Phenomenal growth in incidence of kidney stone and rapid development of healthcare infrastructure coupled with growth in adoption of endoscopic surgical procedures are the major drivers of these markets.
This market is witnessing high competition and is characterized by the presence of multiple market players within segments. Some of the major players engaged in the global kidney stone management devices market are Richard Wolf GmbH, Olympus Corp., Bard Medical, Allengers Medical Systems, Coloplast Group, Cook Medical, Boston Scientific Corp. and others.
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