Newark, New Castle, USA, Jan. 24, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global kidney stone management market is expected to clock at US$ 2.76 billion by 2030 and to grow at a CAGR of 5.4% during the forecast period. A Kidney stone is a hard deposit of different minerals found in the renal system (from the urethral tract to the bladder). These stones block the urinary tract, leading to various kidney disorders and in severe cases could result in kidney failure in extreme cases. To prevent severe consequences, medical professionals utilize several methods, such as medications and/or surgical procedures. This exclusive information is published by Growth Plus Reports in its report titled “Kidney Stone Management Market – Global Outlook & Forecast 2022-2030”
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Market Drivers
The growth of the global kidney stone management market can be attributed to factors such as growing cases of kidney stones, high awareness among the population, and growth in the aged population. Furthermore, increasing technological innovations due to rising R&D activities by major market players, increasing adoption of minimally invasive surgeries/technology, and growing collaborations and investments/funding also contribute to the market expansion. Additionally, unhealthy lifestyles with reduced water intake further help escalate market development.
The kidney stone management market has been analyzed from four perspectives: by type, treatment type, end-users, and region.
Excerpts from ‘By Treatment Type Segmentation’
The treatments in the kidney stone management market have been segmented into:
- Lithotripsy
- Percutaneous Nephrolithotomy (PCNL)
- Ureteroscopy
Ureteroscopy dominates the market with the largest revenue share. This growth can be attributed to a wide range of advantages offered by this segment, such as the use of minimally invasive treatment methods, better efficacy in the procedure, patient satisfaction, and also help avoid the repeated occurrence of kidney stones in the body. Moreover, speedy recovery with the benefit of minor medical procedures also impels the growth of the ureteroscopy segment, thereby pressuring the expansion of the kidney stone management market. At the same time, PCNL is the fastest-growing segment in this market and is expected to experience a hike in the forecast period.
Excerpts from ‘By Region Segmentation’
The kidney stone management market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America holds the largest revenue share in the market. The high prevalence of kidney stone disease, developed infrastructure, and high healthcare expenditure anticipates market development in this region. Additionally, high awareness among the population and the availability of favorable reimbursement policies in this region further contribute to regional market development. Moreover, the increased adoption of heightened technologies is a major driving factor in the North American market.
Europe holds the second largest revenue share in this market, attributed to the rapid adoption of advanced technologies, the rise in the patient pool, and the presence of enhanced healthcare infrastructure and expenditure. Asia Pacific is an emerging market owing to various factors such as developing healthcare infrastructure, improving medical tourism, and growing incidences of kidney stones and associated complications. In addition, the growing awareness among the population and available reimbursement policies further contribute to the growth of this region's kidney stone management market.
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Excerpts from ‘Competitive Landscape’
The prominent players operating in the kidney stone management market are:
- Boston Scientific Corporation
- EDAP TMS SA
- Cook Group Incorporated
- Richard Wolf GmbH
- DirexGroup
- C. R. Bard, Inc.
- Siemens Healthcare GmbH
- Karl Storz GmbH & Co. Ltd.
- Dornier MedTech GmbH
- Coloplast A/S
- Siemens Healthineers
- Olympus Corporation
- Allengers Medical Systems Ltd.
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