Pune, India, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The global ureteroscope market size is projected to reach USD 1,498.1 million by 2027, exhibiting a CAGR of 5.5% during the forecast period. Increasing incidence of kidney stones is expected to stoke adoption of these devices, states Fortune Business Insights™ in its report. The US and Canada boast of a strong and developed healthcare infrastructure, with health facilities actively adopting modern medical devices and technologies. This is additionally bolstered by favorable reimbursement policies and growing demand for advanced medical procedures. Together, these factors enabled the market size in the region to reach USD 370.1 million and have a share of 37.7% in 2019.
KEY INDUSTRY DEVELOPMENTS:
- November, 2019: Olympus Corporation announced its exclusive U.S. distribution agreement with Rocamed, an innovator of quality medical products, based in Monaco and a leader in European markets.
- September 2018, Boston Scientific Corporation announced the global launch of the LithoVue Empower Retrieval Deployment Device, designed to be used with the LithoVue Single-Use Digital Flexible Ureteroscopes. Moreover, the company also launched compatible nitinol retrieval basket to enable urologists to operate a ureteroscope and basket simultaneously when retrieving kidney stones via flexible ureteroscopy (URS).
- October 2017: Ambu A/S announced expansion of portfolio with addition of new ureteroscope aScope 5, a new monitor platform that allows full HD quality. The company aims to expand its urology portfolio to target kidney procedures. The product is expected to be launched in 2021/22.
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Close Linkage between Diabetes and Kidney Stones to Support Market Growth
Kidney stones, or renal calculi, are crystal mass formations that can originate anywhere along the urinary tract. These stones are of various types such as calcium, uric acid, struvite, and cysteine. Research has found that diabetes is one of the most common risk factors for developing kidney stone because the high blood sugar levels in diabetics make their blood more acidic, creating the ideal environment for stones to form.
According to the medical journal European Urology, people with type 2 diabetes having high insulin resistance are 92% more likely to form kidney stones than non-diabetic people. With diabetes expected to become more widespread in the coming decades, the demand for stone removal procedures is likely to rise and boost the ureteroscopes market growth in the process.
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Robust Healthcare Infrastructure to be the Key Driving Factor for North America
The US and Canada boast of a strong and developed healthcare infrastructure, with health facilities actively adopting modern medical devices and technologies. This is additionally bolstered by favorable reimbursement policies and growing demand for advanced medical procedures.
Together, these factors enabled the market size in the region to reach USD 370.1 million and have a share of 37.7% in 2019. Based on these numbers, it is expected that the region will further strengthen its hold on the ureteroscope market share during the forecast period.
In Asia Pacific, the market is anticipated to expand at a considerable rate owing to increasing presence of global companies in developing countries such as India and China. Improving healthcare expenditure is also aiding the regional market growth.
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List of Key Players Covered in this Market Report:
- AED.MD (CA, USA)
- PENTAX Medical (Tokyo, Japan)
- Richard Wolf GmbH. (Illinois, United States)
- Stryker (Michigan, United States)
- Elmed Electronics & Medical Industry & Trade Inc. (Ankara, Turkey)
- KARL STORZ (Tuttlingen, Germany)
- Olympus Corporation (Tokyo, Japan)
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Segments Covered in the Report
By Product
- Flexible
- Semi-flexible
- Rigid
By Application
- Urolithiasis
- Urolithial Cancer
- Others
By End User
- Hospitals
- Specialty Clinics
- Others
SECONDARY DATA SOURCES THAT WE REFER TO:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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