Kidney Stones Management Market to witness major growth in coming years

The worldwide kidney stones management market share has been traversing along lucrative growth path owing to the rise of effective management devices and advanced treatment alternatives such as extracorporeal shock wave lithotripsy and ureteroscopy. In addition to this, one of the most pivotal factors to have driven the fortunes of this business space is the escalating numbers of patients affected with kidney stones disease. As per reliable sources, over 10% of the global populace aged between 20 to 60 years is reported to suffer with kidney stone ailment annually. Apparently, these statistics go on to depict the humongous business opportunities awaiting the firms focused on innovating and introducing new devices in the kidney stones management industry.

Extracorporeal shock wave lithotripsy (ESWL) to emerge as the most dominant treatment segment to contribute toward kidney stones management industry

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Owing to its non-invasive surgical procedure, the popularity of extracorporeal shock wave lithotripsy (ESWL) treatment has been on the rise over the recent years. The prominent manufacturers partaking in the kidney stones management market have increasingly focused on developing ESWL devices that occupy less space and are highly efficient in targeting sources. Moreover, these devices are now being equipped with electromagnetic and piezoelectric sources for generating shock waves – a factor that has significantly influenced the product landscape of kidney stones management industry.

Speaking in the similar context, the latest trend that has been shaping up the ESWL treatment segment is the rising number of acquisitions that has assisted numerous medical device manufacturers to fortify their presence in kidney stones management market. Citing an instance of the same, the U.S. based Olympus Corporation of the Americas has recently inked a definitive contract to acquire the lithotripsy system design and manufacturing technology from Cybersonics Inc. Apparently, the latest take over, in all likelihood, would assist Olympus to reduce overall costs and authorize the servicing of the devices produced by CyberSonics.

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For the record, the devices currently being manufactured by Cybersonics include CyberWand and ShockPulse-SE which are highly-recognized to have the capability of fragmenting stones in the ureter, bladder and kidney in a minimally invasive manner. Moreover, these devices are said to produce a constant intermittent shockwave and ultrasonic wave energy to lower procedure time which has been proved to be of immense significance in carrying out non-invasive surgeries.

Considering the positive impact being created by acquisitions and the increasing number of technological advances, the ESWL treatment segment would contribute significantly toward augmenting the commercialization potential of kidney stones management industry. In fact, as per a research report collated by Global Market Insights, Inc., ESWL segment apportioned the over 58% of the total remuneration share of this business space in the year 2017 which aptly demonstrates the large potential this segment holds across the overall treatment space.

In terms of regional growth prospects of kidney stones management market, United States has been the foremost nation across the North American region. With the increasing prevalence and recurrence rate of kidney stones across various age groups of the nation’s populace, the kidney stones management industry share in the country has been flourishing in the recent past. As per reliable estimates, the U.S. garnered more than 90% of the total revenue share of the North America kidney stones management industry which undoubtedly establishes the nation as one of the most profitable growth avenues across the globe.

Elaborating further, the better utilization of advanced disease management procedures such as minimally invasive surgeries, ureteroscopy, and percutaneous nephrolithotomy have been creating plentiful business opportunities for the major firms operating in this business space. This has been complemented with high diagnosis and screening rates which would further propel the U.S. kidney stones management industry in the years to follow, cite analysts.

Rapidly developing medical infrastructure, increasing pressure to limit healthcare expenditure, rising number of unmet medical needs, and a significant opportunity to introduce advanced therapeutic technologies are among the major factors impelling the kidney stones management market in developing nations such as China and India. Add to it, numerous medical device behemoths have been focusing on setting up training centers of their equipment and expanding their operations in these nations which has further fueled the growth prospects of this business space.

With drastic enhancement in image quality due to high-grade digital imaging devices and high-definition cameras, the global kidney stones management market has undergone transformative changes in the past few years. In addition to this, the unveiling of technologically progressive treatment methodologies has further boosted the kidney stones management market share which is forecast to surpass USD 2 billion by 2024.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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This release was published on openPR.