Kidney Stone Management Devices Market: Increasing Prevalence of Kidney Stone among Patients to Drive the Market
Global Kidney Stone Management Devices – Overview
Kidney stones can happen in one or both kidneys. It generally affects people between the age bracket of 30 to 60 years as per the National Health Service (NHS). Moreover, the prevalence of kidney stones is almost three in 20 men and nearly two in 20 women as per the NHS. With such growing prevalence, naturally, the global market for kidney stone management devices is projected to witness a promising growth in the coming years of the forecast period.
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Global Kidney Stone Management Devices – Notable Developments
The global kidney stone management devices market has a highly fragmented competitive landscape due to the presence of several key players. The companies in the market are Bard Medical Division, Coloplast Group, Allengers Medical Systems, Boston Scientific Corporation, Cook Medical, Electro Medical Systems, Lumenis Ltd., Storz Medical AG, Dornier Medtech, and Richard Wolf GmbH.
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Some of the key developments in the global kidney stone management devices market are listed below:
In 2017, Duke Clinical Research Institute (DCRI), scientific data research center for the Urinary Stone Disease Research Network, launched a two year clinical trial to determine the ways to prevent recurrence of kidney stones.
In 2016, American Urological Association (AUA) released new guidelines for surgical treatment of patients with renal stones. The most pertinent change was decision about treatment and therapy for kidney stones, which should be shared between physician and patients.
Boston Scientific launched LithoVue single use digital flexible ureteroscopes in Europe in 2016, which provided high-quality visualization better than leading ureteroscopes at the time.
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Global Kidney Stone Management Devices – Drivers and Restraints
There are multiple factors that are helping to drive the overall development of the global kidney stone management devices market. One of the key driving factors for the market development has been the launch of new and innovative products in the market. These products are catering to treat kidney stones irrespective of their sizes.
Another important factor for the growth of the global kidney stone management devices market is the increasing research and development activities in the field of urology. With these growing activities, new and innovative products are coming into the market. Moreover, the treatment methods for kidney stone are getting more sophisticated and easy. This too is expected to drive the market in the coming years of the forecast period.
Increasing preference of patients to undergo minimally invasive surgeries is also projected to drive the development of the market in the near future.
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Global Kidney Stone Management Devices – Geographical Outlook
In terms of the geographical outlook, the global kidney stone management devices market is segmented into five key regions. These regions are Latin America, North America, Middle East and Africa, Europe, and Asia Pacific. Of these, presently, the global kidney stone management devices market is being dominated by the regional segment of North America. The growth of the region is mainly attributed to the increasing prevalence of kidney stone among patients in countries such as the US and Canada. In addition to this, the presence of a well-established and a matured healthcare infrastructure is also a key reason behind the development of the kidney stone management devices market in North America.
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On the other hand, the regional segment of Asia Pacific is projected to witness a promising growth in the coming years of the forecast period ranging from 2020 to 2030. The growth of the regional market is due to the increasing healthcare spending by emerging economies such as India and China. Moreover, growing number of kidney stone cases is also expected to drive the market growth of Asia Pacific in the near future.
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