According to the current analysis of Reports and Data, the global Stone Treatment Devices market was valued at USD 1,544.4 Million in 2019 and is expected to reach USD 2,210.4 Million by the year 2027, at a CAGR of 4.6%
According to the current analysis of Reports and Data, the global Stone Treatment Devices market was valued at USD 1,544.4 Million in 2019 and is expected to reach USD 2,210.4 Million by the year 2027, at a CAGR of 4.6%. Stone formation in the human body is an ailment that includes the production of stony concretions for the bladder or urinary tract and different parts of the body. It is framed by a multifaceted procedure that outcomes from various physicochemical occasions, including nucleation, super-saturation, aggregation, development, and maintenance of urinary stone segments inside tubular cells. Stone treatment devices are the blend of that hardware and instruments which are utilized for the total evacuation or the pulverization of the stone at the target site itself by sending shock waves.
The expanding predominance of Kidney Stones, particularly in the geriatric populace, is driving the urinary stone treatment devices and equipment market development. The frequency of urinary stone is accounted for to be expanding over the globe. About 30% of individuals worldwide are fat, and almost 900 million individuals are geriatrics, which is required to increment to 1.4 billion by 2030. The occurrence of kidney stones is expanding, with an expected predominance running up to 17%.
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Upsurge in the recurrence of the stone after the surgery, and inclination towards minimally invasive procedures are foreseen to move the market in the coming years. For example, as indicated by the National Kidney Foundation, it is assessed that every year, more than half a million people go to emergency spaces for kidney stone issues. It is evaluated that one of every ten individuals will have a kidney stone sooner or later. Moreover, development in the reimbursement strategies and acceleration in awareness during the estimated period is foreseen to fuel the market.
The absence of open awareness and legitimate information about the issues related to urinary stone infections, especially in the under-developed nations impedes market development. This absence of appropriate information turns into a detour for the Urinary stone treatment device producers. Also, rigid government guidelines for surgical procedures may hamper the market in the coming years.
Further key findings from the report suggest
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- About 38.5% of the worldwide Stone Treatment Devices showcase is done through Intracorporeal Ureteroscopy method, owing it to its high efficacy.
- Europe accounted for a share of 27.9% in the year 2019, and is expected to propel at a significant pace during the estimated period.
- Hospitals accounted for largest share of stone treatment devices market in the year 2019. The segment is expected to grow at the pace of 4.4%, owing it to the rising adoption of minimally invasive technologies.
- Specialty Clinics by end-use section held the second biggest piece of the overall industry of 27.6% in the year 2019. The portion is relied upon to develop at the biggest rate because of the expansion in the selection of the stone treatment devices in the coming years.
- The North American area held 39.1% of the global market as of 2019. The factor influencing the development of the market includes, high pervasiveness of the kidney stones in the locale.
- The rising spending limit of people for improving quality of life and activities taken by the administrations in the district will fuel the market development in Asia-Pacific region.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Boston Scientific Corporation, Richard Wolf, Cook Medical, Olympus Corporation, STORZ medical, C. R. Bard, Inc., Dornier Medtech, Allengers Medical Systems, Coloplast, DirexGroup, Elmed Medical Systems and Medispec Ltd.
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Stone Treatment Devices Market Segmentation:
Product Outlook (Revenue, USD Million; 2017-2027)
- Urethral Stents
- Lithotripters
- Stone Retrieval Devices
- Holmium Laser Devices
Stone Type Outlook (Revenue, USD Million; 2017-2027)
- Calcium Stones
- Struvite
- Uric Acid
- Cystine
- Drug-Induced
Treatment Type Outlook (Revenue, USD Million; 2017-2027)
- Percutaneous Nephrolithotripsy
- Intracorporeal Ureteroscopy
- Extracorporeal Shock Wave Lithotripsy
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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