Kidney Stones Management Market size is set to exceed USD 2 billion by 2024; according to a new research report by Global Market Insights.
Kidney stones management market is set to showcase stable growth over the coming years due to rising incidence and repeat occurrence of kidney stone disease generating a need for effective management devices and treatment options. More than 10% of people aged between 20 to 60 years are affected with kidney stone disease globally.
Introduction of advanced treatment options such as ureteroscopy for treating kidney stones should augment the market growth in the coming years. Developments in flexible ureteroscopes have transformed proximal and intrarenal kidney stones treatment. Apart from this, the use of digital ureteroscopes and imaging allow for better quality visualization leading to efficient treatment. Inclination towards minimally invasive surgeries due to advantages offered such as less recovery time and reduced pain trauma has further led to increased popularity of ureteroscopy.
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CT scan and ultrasound are most frequently used techniques for accurate diagnosis of kidney stones. CT scan dominated the global kidney stone management devices market in 2017. However, ultrasound segment is likely to witness lucrative growth during forecast period. The field of urology is likely to witness resurgence in the use of ultrasound for diagnosis of kidney stones due to less amount of radiation exposure as compared to CT scans. Moreover, this technology underwent remarkable advancements over past decades with trend likely to continue to make ultrasound even more simplistic over time.
Extracorporeal shock wave lithotripsy (ESWL) held largest share in 2017 in the total kidney stone management devices market. The largest contribution of ESWL is credited to convenience and ability of procedure to treat kidney stones using shock waves making it non-invasive in nature. The ESWL devices are now being developed with new piezoelectric and electromagnetic sources for generating shock waves. Moreover, these devices are now developed with highly efficient targeting sources and in small sizes that occupy less space.
U.S. contributed largest share to kidney stones management market in 2017 owing to the increasing prevalence and relapse rate of kidney stone disease in the country. U.S. witnesses high screening and diagnosis rate due to increased awareness regarding disease. Moreover, better access to technically advanced disease management options such as ureteroscopy and minimally invasive surgeries should lead to further market growth.
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Rising unmet medical needs, increasing pressure to limit healthcare costs, rapidly developing medical infrastructure and significant room for introducing advanced therapeutic techniques are some of the pivotal factors driving the growth in emerging countries including India and China. Various giant players are focusing on expanding their operations and setting up networks of training centers for its equipment in the emerging countries as an important component of its growth strategies.
In the reign of intense competition among the prominent players in the kidney stones management market, companies strive to maintain dominant position in the market by implementing robust distribution and sales strategy. The firms employ a trained and dependable dealer network in various locations globally. This highly dedicated professional staff at dealer location ensures delivery and support services for products. For instance, Boston Scientific has direct sales organizations in various countries from which majority of its sales is generated, while the firm employs a network of distributors and dealers who offer their products in certain countries and markets
Some of the notable industry players operating in global kidney stones management market are Olympus, C. R. Bard, Richard Wolf GmbH, Boston Scientific, Coloplast Group, Cook Medical, Dornier Medtech, and Karl Storz among others. Merger and acquisition and new product launch was the most commonly adopted growth strategy by the industry participants. For instance, in April 2018, Olympus underwent an agreement for acquisition of lithotripsy system design and production technology from Cybersonics.
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