Urolithiasis Management Devices Market Driven by High Prevalence of Kidney Dysfunction among Geriatrics

The global urolithiasis management devices market is being led by few strong players, states Transparency Market Research (TMR). C. R. Bard, Inc., Boston Scientific Corporation, and Cook Group have been identified as the key players in the global market. The strong geographic presence of these companies, increasing investments for developing better products, and large distribution networks are expected to propel the growth of these companies. Analysts anticipate that competition is likely to remain high in the coming years as new entrants will try to find their way in to secure position.

The research report states that the global urolithiasis management devices market was valued at US$1.26 bn in 2016 and is estimated to reach US$1.78 bn by the end of 2024. During the forecast period of 2016 and 2024, the global market is estimated to rise at a CAGR of 4.5%.

Shockwave Lithotripters Emerges as Popularly Used Device in Global Market

Out of the various types of urolithiasis management devices, the shockwave lithotripters will dominate the global market in the coming years. This segment held a share of 65% in the global market in 2016. The leading end-user segment in the global market will be the ambulatory surgical centers due to growing preference for one-day surgeries amongst patients. In terms of geography, the North America urolithiasis management devices held a leading share of 36% in the global market in 2016. However, Asia Pacific is expected to emerge as a key regional market as the region has a huge population base. Furthermore, the booming medical tourism industry in Asia Pacific is also expected to offer opportunities to the urolithiasis management devices market in the near future.

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The Nation Kidney Foundation, U.S., reported that about one in 10 people are diagnosed with kidney stones across the country every year. The study published in 2015 also stated that about half a million patients are brought to emergence rooms for kidney stone management each year. These alarming statistics are expected to be the primary growth driver for the global market in the coming years. The market is also expected to be driven by the increasing number of geriatrics, growing number of obese people, and drastic lifestyle changes that have consistently contributed to the high prevalence of kidney stones amongst the global population.

Preference for Non-invasive Treatment Boosts Market Growth

Analysts predict that the global market will also be driven the growing number technological innovations in the sector that have introduced several improved devices for urolithiasis management. The availability of non-invasive treatment methods has favored the global market tremendously. The new non-invasive and minimally invasive devices have tremendously reduced the duration of treatment thereby cutting down on hospital stay and costs.

Side Effect to Soft Tissues to Challenge Market Growth

Despite the steady market drivers, the global urolithiasis management devices market is expected to face some tough challenges. The existing apprehension about the damage urolithiasis procedures can cause due to the shockwaves is expected to restrain the global market. The shockwaves used for treating kidney stones have the potential of causing permanent damage to soft tissues, which can lead to permanent renal dysfunction. Thus, the rising concerns over the side-effects of adopting for urolithiasis management devices is expected to hamper the growth of the global market.

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This review is based on Transparency Market Research’s report, titled “Urolithiasis Management Devices Market (Device Type - Shock Wave Lithotripters, Ultrasonic Lithotripter, Pneumatic Lithotripter, Laser Lithotripter, Ureterorenoscopes, Rigid Ureterorenoscopes, Semi Flexible and Flexible Ureterorenoscopes) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

For this study, the market has been segmented as follows:

Global Urolithiasis Management Devices Market, by Device Type

Shock Wave Lithotripters
Intracorporeal lithotripter
Ultrasound Lithotripter
Pneumatic Lithotripter
Laser Lithotripter
Extracorporeal lithotripter
Ureterorenoscopes
Rigid Ureterorenoscopes
Semi Rigid Ureterorenoscopes
Flexible Ureterorenoscopes
Global Urolithiasis Management Devices Market, by End-user

Hospitals
Ambulatory Surgery Centers (ASCs)
Clinics
Global Urolithiasis Management Devices Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia & New Zealand
Rest of APAC
Middle East & Africa
Saudi Arabia
UAE
South Africa
North Africa
Rest of MEA
Latin America
Brazil
Mexico
Rest of Latin America

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.