(I-BusinessNews.Com, July 11, 2021 ) Urolithiasis Management Devices Market size was valued at $1.4 billion in 2020, and is expected to grow with a CAGR of 4.3% during the forecast period 2021-2026. Urolithiasis refers to the development of stones in the urinary system and is classified based on the location of stone formation. Nephrolithiasis is the development of kidney stones and is one of the most common chronic disorders and is currently a major health concern. According to the European Association of Urology, around 10% of the world’s population is affected by Urolithiasis. Also, the recurrence rate of this nephrolithiasis disorder is approximately 50% in a patientÃ‚Â’s lifetime. Moreover, rising prevalence and incidence rates of urolithiasis Management device coupled with increasing preference for minimally invasive surgeries around the globe are some of the key factors contributing for urolithiasis Management devices market and its procedures during the aforesaid period.
Urolithiasis Management Devices Market Segment Analysis Ã‚Â– By Product
Based on the Product, Urolithiasis Management Devices Market is segmented into Extracorporeal Shock Wave Lithotripsy (Eswl), Intracorporeal Lithotripsy, Other Treatments. The Extracorporeal Shock Wave Lithotripsy (Eswl) segment is estimated to dominate the market during the period 2021-2026. This is owing to the Extracorporeal Shock Wave Lithotripsy treatment is usually provided by healthcare providers and is cost-effective. It is usually an outpatient treatment as there is no need for the hospital stay and works well in the case of relatively small urinary stones that are common in patients with stones. The Intracorporeal Lithotripsy segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.9% during the period 2021-2026. This is Mainly owing to Intracorporal Lithotripsy, which produces an impressive freestone result, and although an invasive procedure requires a short time with no specific adverse effects compared to ESWL. Lithotripsy is a technique for the treatment of kidney and ureter stones that do not require surgery.
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Urolithiasis Management Devices Market Segment Analysis Ã‚Â– By End Users
Based on the End Users, Urolithiasis Management Devices Market is segmented into Hospitals, Clinics, Ambulatory Surgical Centres. In 2020, Hospitals segment held major share in the Urolithiasis Management Devices Market. This is owing to the investments made by hospitals in the expansion of surgical infrastructures, the increasing number of kidney stone procedures performed in hospitals, and the establishment of new hospitals in different geographies. Also, Ambulatory Surgical Centres are projected to grow with a CAGR of 5.3% over the period 2021-2026. This is owing to ambulatory surgical centres offers time-saving and cost-effective treatment options for nephrolithiasis, cystolithiasis, Extracorporeal Shock Wave Lithotripsy among other kidney stones, and offer time-saving and cost-effective treatment options to reduce prolonged hospital stay.
Urolithiasis Management Devices Market Segment Analysis Ã‚Â– By Geography
North America dominated the Urolithiasis Management Devices Market share accounting for 38.1% of the market in 2020. This is owing to the rising introduction of new and innovative urolithiasis management devices, such as laser lithotripters for nephrolithiasis and flexible ureteroscopes, which have also contributed to the healthy growth of the North American market for urolithiasis management devices. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. Owing to the rising health care spending by emerging economies such as India and China for Urolithiasis Management Devices and an increasing number of kidney stone cases in the region.
Urolithiasis Management Devices Market Drivers
Increasing prevalence of urinary stones and its higher recurrence rate
Globally, kidney stone disease prevalence and recurrence rates are increasing owing to the prevalence of urolithiasis has increased in both developed and developing countries over the last decades. This growing trend is believed to be associated with lifestyle changes such as lack of physical activity and dietary habits and global warming. In the United States, kidney stone affects 1 in 11 people and it is estimated that 600,000 Americans suffer from urinary stone. this is led to drive the growth of Urolithiasis Management Devices Market.
Growing adoption of minimally invasive stone removal procedure
High adoption of minimally invasive techniques in general and its minimal side effects compared to open surgical procedures for nephrolithiasis cystolithiasis, Extracorporeal Shock Wave Lithotripsy, Intracorporeal Lithotripsy, Percutaneous Nephrolithotomy and are likely to drive the demand for an advanced procedure for Urolithiasis Management Devices in the future. According to the journal of advances in chronic kidney diseases, minimally invasive treatments that have been adopted for mainly kidney stone diseases like nephrolithiasis, Extracorporeal Shock Wave Lithotripsy, Intracorporeal Lithotripsy, Percutaneous Nephrolithotomy. Moreover, surgeons are using minimally invasive conduct that was earlier performed as open surgery. The Growing adoption of minimally invasive stone removal procedure dynamics is driving demand for Urolithiasis Management Devices Market.
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Urolithiasis Management Devices Market Challenges
The Covid-19 pandemic made an adverse impact on the Urolithiasis Management Devices Market resulting drop in revenue of the market. Many small hospitals and nursing homes were forced to temporarily closed their operation because of the lockdown Moreover, limited availability of Urolithiasis devices, Sluggish medical device manufacturing rate and shutdown in economy are some are major challenges faced by the Urolithiasis Management Devices Market.
Urolithiasis Management Devices Market Landscape
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Urolithiasis Management Devices Market. Urolithiasis Management Devices top 10 companies are Allengers Medical Systems Ltd, Boston Scientific Corporation, C.R. Bard Inc, Cook Medical, ConMed Corporation, DirexGroup, Dornier MedTech GmbH, Karl Storz GmbH & Co. KG, Guangzhou Potent Optotronic Technology Co., Ltd, HealthTronics, Inc among others.
In March 2019, Dornier MedTech Announces Dornier OptiVision Next Generation Digital Image Processing Technology for Urolithiasis Stone Treatment and Day-to-Day Endourology.
In March 2019, HealthTronics and NextMed, two mobile health care providers, have agreed to merge, and the U.S. Federal Trade Commission is investigating the potential competitive impact of the deal with a focus on company urology treatment devices.
In 2020, North America dominated the Urolithiasis Management Devices Market owing to the increasing prevalence of kidney stones, rising geriatric population, and campaigns to raise awareness of the risks associated with kidney stones by government agencies among patients in the region.
Increasing prevalence of kidney stones, nephrolithiasis and Urolithiasis surgeries among patients across the globe is driving the market growth of Urolithiasis Management Devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Urolithiasis Management Devices Market report.
Related Reports :
A. Extracorporeal Shock Wave Lithotripsy Market
B. Lithotripsy Devices Market
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