Burlingame, April 10, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global urolithiasis management devices market is estimated to be valued at US$ 1,694.7 million in 2023 and is expected to exhibit a CAGR of 4.8% during the forecast period (2023-2030).
Analysts’ Views on Global Urolithiasis Management Devices Market:
Market players are focused on gaining approvals from regulatory bodies which is expected to drive the growth of the global urolithiasis management devices market. For instance, in January 2022, Applaud Medical, Inc., an emerging leader in the treatment of kidney stones, announced that its Acoustic Enhancer technology has received the Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). The Acoustic Enhancer technology is designed to be used in conjunction with Ureteroscopy with Laser Lithotripsy (URS-LL) for the fragmentation of calcium-based urinary stones of at least 6mm and not more than 20mm in diameter that is obstructing or deemed to present a significant risk of future obstruction by a urologist or other qualified physician.
Key Trends and Analysis of the Global Urolithiasis Management Devices Market:
Increase in organic strategies like product launches by the key players, which is expected to drive the market in the research and development of kidney stone retrieval devices. Moreover, the advancements in technology and the rise in demand for non-invasive and minimally invasive surgery have fueled the market growth. For instance, in June 2020, Olympus Corporation, one of the leading manufacturers of optical and digital precision technology, launched the Soltive SuperPulsed Thulium Fiber Laser System for urology, a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.
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Driver-:
Increase in inorganic growth strategies such as collaborations and partnerships adopted by key market players to develop novel urolithiasis management devices are expected to drive the market growth. For instance, in December 2021, MedicaMetrix, Inc., a medical device manufacturer, and Emerson hospital, a full-service, non-profit community hospital, announced a partnership for establishing urology centers globally, for the treatment of urolithiasis and urological disorders.
Global Urolithiasis Management Devices Market
Cross Sectional Analysis:
Among region, North America is expected to be dominant and drive the market growth over the forecast period due to product launches by the market players. For instance, in September 2019, Dornier MedTech, urological solutions providing company, launched image Post-Processing Software for improvement in kidney stone treatment outcomes, the device will help in clearer stone visualization during extracorporeal shock wave lithotripsy treatments.
Global Urolithiasis Management Devices Market: Key Developments
Major players in the global urolithiasis management devices market are focused on launching new products to expand their product portfolio. For instance, in April 2019, Dornier MedTech, one of the global urology companies and a leader in kidney stone management, announced the launch and immediate availability of its AXIS, a single-use digital flexible ureteroscope for the treatment of urolithiasis.
Urolithiasis Management Devices Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 1,694.7 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 4.8% | 2030 Value Projection: | US$ 2,357.7 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Lumenis Ltd., Boston Scientific Corp, BD, Cook Medical, Karl Storz, Allengers Medical Systems, Inc, Olympus Corporation, Electro Medical Systems SA, Dornier MedTech GmbH, Direx Group., HealthTronics, Inc., CONMED Corporation., Applaud Medical, Inc., Potent Medical., and other prominent players. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Key Market Takeaways:
The global urolithiasis management devices market is expected to exhibit a CAGR of 4.8% during the forecast period due to the increase in a facility such as, in January 2022, Olympus Corporation one of the global technology leaders in designing and delivering innovative solutions for medical and surgical procedures announced abstract findings of independent clinical studies that show the treatment of kidney stones with the SOLTIVE SuperPulsed Laser System, which has potential to offer shorter procedure time.
Among distribution channels, the hospital segment is estimated to hold a dominant position in the global urolithiasis management devices over the forecast period, due to an increase in the number of hospital admission due to urinary-related problems. For instance, in February 2022, the hospital admission rate for diseases of the urinary increased by 73.8% in 2020 in England as compared to 2019, which was 13%.
On the basis of regions, North America is estimated to account for the largest market share in the global urolithiasis management devices market over the forecast period, due to the increase in funding provided by various organizations to conduct research for treatment options for ocular diseases in the region. For instance, in November 2022, the U.S. National Eye Institute announced that they had funded eight research projects in various universities such as the University of Arizona, Harvard Medical School, University of Pennsylvania, and others to conduct research regarding the mechanism of ocular pain and to develop novel treatment option for the same.
Competitive Landscape:
Major players operating in the global urolithiasis management devices market include Lumenis Ltd., Boston Scientific Corp., BD, Cook Medical, Karl Storz, Allengers Medical Systems, Inc., Olympus Corporation, Electro Medical Systems SA, Dornier MedTech GmbH, Direx Group., HealthTronics, Inc., CONMED Corporation., Potent Medical., Applaud Medical, Inc., and other prominent players.
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Market Segmentation:
- Global Urolithiasis Management Devices Market, By Product Type:
- Shock Wave Lithotripter
- Intracorporeal Lithotripter
- Extracorporeal Lithotripter
- Ureterorenoscope
- Rigid Ureterorenoscopes
- Semi Rigid Ureterorenoscopes
- Flexible Ureterorenoscopes
- Shock Wave Lithotripter
- Global Urolithiasis Management Devices Market, By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Global Urolithiasis Management Devices Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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