Technological Advancements Stimulate Urolithiasis Management Devices Market Growth to reach US$1.78 Billion by 2024

The market for urolithiasis management devices is primarily driven owing to the rising prevalence of kidney stones among the global population. Factors such as obesity, changing lifestyles, and ageing are the chief causes triggering the formation of kidney stones among humans. Studies state that at least 30% of the world’s population is presently obese or overweight. Geriatrics (people with more than 60 years of age) account for more than 900 mn people of the world’s population presently. The United Nations’ Department of Economic and Social Affairs states that this number will increase by 56% between 2015 and 2030 and rise to 1.4 bn by 2030. Along with these factors, the introduction of a variety of non-invasive treatment methods in the global urolithiasis management devices market has also encouraged the excellent growth of the market in the past few years. The significant reduction in treatment duration and effective results are compelling an increased number of patients to demand newer and technologically advanced treatment methods for kidney stones.

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Key players in the urolithiasis management devices market are Allengers Medical Systems Ltd, C. R. Bard, Inc., Cook Group, Inc., Dornier Medtech GmbH, DirexGroup, Karl Storz, Boston Scientific Corporation, Olympus Corporation, Siemens Healthcare, and Electro Medical Systems S.A.

This report on the global urolithiasis management devices market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. A detailed qualitative analysis of factors responsible for driving and restraining market growth and opportunities has been provided in the market overview section. Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market related factors such as increasing preference for efficacious products, product innovation, and historical year-on-year growth have been taken into consideration while estimating the market size. Growth rates for each segment within the global urolithiasis management devices market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, clinical trials, and regulatory requirements. These factors would help the market players to take strategic decisions in order to strengthen their positions and expand their share in the global market.

The global urolithiasis management devices market has been segmented based on device type, end-user, and geography. Urolithiasis management devices are categorized into shockwave lithotripters and ureterorenoscopes. Shockwave Lithotripters include ultrasound lithotripters, pneumatic lithotripters, and laser lithotripters. Ureterorenoscopes include rigid, semi-rigid, and flexible ureterorenoscopes. Shock wave lithotripters accounts for the major share of the urolithiasis management devices market. Extracorporeal lithotripters dominate the market; however, the laser lithotripters and flexible ureterorenoscopes segments are expected to witness high compound annual growth rate during the forecast period.

The major distribution channels for usage of urolithiasis management devices products include hospitals, clinics, and ambulatory surgical centers. Ambulatory surgical centers are set to witness rapid growth due to the various benefits ranging from affordability to the ease of access and available advanced technologies. These benefits include easy shipping, huge discounts, and convenience of purchasing from any location.

Geographically, the market has been segmented into six regions: North America, Europe, Asia Pacific, Latin America, Middle East & North Africa, and Rest of the World. North America accounted for the largest share of the global urolithiasis management devices market. The market in Asia Pacific is anticipated to expand at the fastest growth rate from 2016 to 2024.

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