Fact.MR – A Market Research and Competitive Intelligence Provider: Global sales of kidney stone management devices are likely to surpass 1 million units by 2028, according to a new Fact.MR study.
Asia Pacific Is Projected To Witness A Promising Growth In The Coming Years Of The Forecast Period Ranging From 2020 To 2030.
Rising Penetration Of Percutaneous Nephrolithotomy Devices Creating Substantial Opportunities For Kidney Stone Management Devices Market Players
Fact.MR – A Market Research and Competitive Intelligence Provider: Global sales of kidney stone management devices are likely to surpass 1 million units by 2028, according to a new Fact.MR study. In terms of revenues, the study projects the kidney stone management devices market to surpass US$ 1,500 million.
Rising preferences for minimally invasive and non-invasive surgical procedures continue to be a massive trend in the kidney stone management devices market. The growing incidence rate of kidney stones, combined with the availability of affordable minimally invasive treatment is likely to sustain demand for kidney stone management devices during the forecast period 2018-2028. The report opines that manufacturers will be hard-pressed to develop innovative devices for large stones, as it has remained a longstanding challenge for healthcare providers.
According to the report, lithotripsy devices will continue to account for over 80% revenue share of the market. Lithotripsy devices have remained the go-to medical devices in urology and renal conditions, and their lucrativeness is likely to continue over the course of the forecast period. The report finds that nephroscopes are likely to witness impressive sales in the kidney stone management devices market, owing to their competency of offering high-definition images with optimized working conditions.
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Key Takeaways from the Market Study
- Europe is the most lucrative market for kidney stone management devices market, and the status quo is likely to continue throughout the forecast period. Asia Pacific excluding Japan (APEJ) follows suit, and it is likely that the region will witness the proliferation of kidney stone management devices in the near future.
- The emergence of various Asian countries as a global medical tourism hub, and the steady improvement in access to healthcare are likely to induce a transformation in the Asia Pacific kidney stone management devices market.
- Hospitals will remain at the forefront of demand, with this end-use segment accounting for nearly half of the global revenue share. The rising prevalence of kidney stones and subsequent surge in the number of hospital admissions is a key factor supplementing this demand, according to the report.
- The study finds that kidney stone management device sales through hospitals will be complemented by sales through specialty clinics. As per the report, the specialty clinics are envisioned to expand at an impressive CAGR of 5.5% from 2018 to 2028.
The exhaustive research study also elaborates on multipronged factors influencing the growth of the kidney stone management devices market. Rising practices of kidney stone patient management by clinicians and assimilation of ureteroscopy with intracorporeal lithotripsy are identified as pervasive trends in the market.
The report also incorporates differential strategies executed by prominent players in the kidney stone management devices market. For instance- leading players in the market are looking forward to leveraging new opportunities created from the incorporation of artificial intelligence (AI), as home screening of kidney stones is likely to create lucrative opportunities for manufacturers.
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Competitive Landscape
The report on kidney stone management devices market features prominent players having exclusive foothold in the industry.
After a comprehensive value chain analysis of the kidney stone management devices market, the report features key players operating in the kidney stone management devices market including
- Siemens Healthineers AG
- Dornier MedTech (Subsidiary of Accuron MedTech)
- Lumenis Ltd.
- STORZ MEDICAL AG
- Inceler Medikal Co. Ltd.
- DirexGroup
- Medispec Ltd.
- EDAP TMS S.A.
- GEMSS Co.,\ Ltd.
- Richard Wolf GmbH.
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.
Additional Questions Answered
- What are the various macro and micro economic factors influencing growth avenues of kidney stone management devices market?
- Which are a few effective and reliable recommendations for manufacturers in the kidney stone management devices market to steal a march over their rivalry?
- How will integration of kidney stone management devices as an outpatient procedure influence the industry landscape?
- How will the growing inclination toward intracorporeal lithotripsy impact the dynamics of kidney stone management devices market?
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