The global demand for urolithiasis
management devices has seen a steady rise in the past few years owing to
the increasing prevalence of kidney stones. A 2015 study by the
National Kidney Foundation of the U.S. states that one in 10 people in
the country has kidney stones and that more than a half a million people
are admitted to emergency rooms for kidney stone management every year.
Across the globe as well, factors such as obesity, rising geriatric
population, which is highly susceptible to kidney stones owing to
reduced renal function and diabetes, and change in lifestyles are
contributing to increased prevalence of kidney stone formation.
Transparency Market Research estimates
that the global urolithiasis management devices market will exhibit a
healthy 4.5% CAGR over the period between 2016 and 2024 and rise to a
valuation of US$1.78 bn by 2024.
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Clinics and Ambulatory Surgical Centers to Remain Dominant End-use Segments
Of the key end-users of urolithiasis
management devices, including hospitals, ambulatory surgery centers
(ASCs), and clinics, the segment of clinics led the global market in
terms of both revenue and volume in 2015. In terms of revenue, the
segment accounted for over 55% in the said year. The leading position of
the market segment can be attributed to factors such as the significant
rise in the number of people opting for urolithiasis surgeries and
advancements in treatment options that have reduced the time required
for undertaking the procedures. Over the period between 2016 and 2024 as
well, the segment is expected to hold a commanding position in the
global market, retaining its status as the leading revenue generator.
The demand for urolithiasis management
devices across ambulatory surgical centers is expected to exhibit a
strong growth over the next few years, with the end-user segment
emerging as one of the most promising investment grounds for the global
urolithiasis management devices market. The segment is expected to
exhibit strong growth owing to high demand for ambulatory surgical
centers and preference for day care surgeries across developing as well
as developed parts of the world. Applications of urolithiasis management
devices across the hospitals end-use segment is expected to witness
stagnant growth as clinics and ambulatory surgical settings become more
preferred owing to the lower cost of treatment and the need to be
hospitalized for shorter lengths of time.
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Rising Geriatric Population in Asia Pacific to Stimulate Increased Adoption
North America held a dominant share of
nearly 36% in the global urolithiasis management devices market in 2015.
Factors such as the rising prevalence of kidney stone, rising geriatric
population, and campaigns undertaken to raise awareness about the risks
associated with kidney stones by government bodies are central to the
growth of the market in the region. Additionally, the introduction of
new and innovative urolithiasis management devices such as laser
lithotripters and flexible ureterenoscopes have also aided the healthy
growth of the North America urolithiasis management devices market. The
presence of high disposable income groups across developed economies
such as the U.S. and Canada in North America, with a high prevalence of
lifestyle-induced diseases such as obesity and a large base of geriatric
population have also influenced the increased adoption of urolithiasis
management devices.
The urolithiasis management devices
market in Asia Pacific is expected to exhibit an impressive CAGR of 4.6%
over the period between 2016 and 2024. The mounting geriatric
population in the region is the key factor driving the urolithiasis
management devices market in the next few years. According to the United
Nations ESCAP (Economic and Social Commission for Asia and the
Pacific), is region is presently home to more than half of the world’s
population of people aged over 60 years and the number is expected to
rise to more than 2.45 bn by 2050. Owing to this, the regions is
expected to lead to a substantial rise in demand for urolithiasis
management devices in the next few years.
Some of the key vendors operating in the
global urolithiasis management devices market are C. R. Bard, Inc.,
Allengers Medical Systems Ltd, Dornier Medtech GmbH, Boston Scientific
Corporation, Cook Group, Inc., Electro Medical Systems S.A., DirexGroup,
Olympus Corporation, Karl Storz, and Siemens Healthcare.
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