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Global Urolithiasis Management Devices Market: Introduction of Advanced Products Stiffening Competition among Manufacturers

Press release Description

Albany, New York, December 07, 2016: Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “Urolithiasis Management Devices Market : Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The report is a thorough overview of the market in the current scenario and analyzes all the factors that are primed to influence the growth rate in the near future. The report estimates the global urolithiasis management devices market to value US$1.78 bn by 2024, expanding at a healthy CAGR of 4.5% during the forecast period of 2016 to 2024. 

Urolithiasis refers to the development of kidney stones in the urinary system. These are of three types: nephrolithiasis – the development of kidney stones, ureterolithiasis – stone formation in ureters, and cystolithiasis – stone formation in the bladder. According to the report, urolithiasis is a common condition that affects over 10% of the world population, and this factor is expected to sustain the demand for urolithiasis management devices during the forecast period. 

Rising geriatric population is another driving factor for the global market for urolithiasis management market as people aged over 60 years frequently suffer from kidney diseases. Increasing awareness about the availability of advanced technologies that enable swift management and several government initiatives are also propelling the market. Moreover, several new and advanced devices are being introduced by prominent as well as emerging players, which is decreasing the cost and improving the quality. 

The global market for urolithiasis management devices market can be categorized on the basis of device type, end user, and geography. By devices, the market can be segmented into ureterorenoscopes and shockwave lithotripters. Shockwave lithotripters can be further sub-segmented into ultrasound, pneumatic, and laser lithotripters. Ureterorenoscopes can be sub-segmented into rigid, semi-rigid, and flexible ureterorenoscopes. According to the report, extracorporeal lithotripters account for most of the demand in the market, although the demand for laser lithotripters is expected to expand at a healthier rate during the forecast period. 

Hospitals, clinics, and ambulatory surgical centers are the primary end users of urolithiasis management devices. The report expects the segment of ambulatory surgical centers to rise at a rapid rate due to several benefits such as affordability and ease of access. Geographically, the report studies the regional markets of North America, Europe, Asia Pacific, Latin America, the Middle East and North Africa, and Rest of the World. Currently, North America serves the widest market for urolithiasis management devices due to a high rate of awareness and robust healthcare infrastructure. Asia Pacific is expected to steadily expand during the forecast period due to increased investments in the healthcare sector by various emerging economies and vast populations. 

Some of the prominent players in the global urolithiasis management devices market are C. R. Bard, Inc., Allengers Medical Systems Ltd, Dornier Medtech GmbH, DirexGroup, Cook Group, Inc., Karl Storz, Olympus Corporation, Siemens Healthcare, Boston Scientific Corporation, and Electro Medical Systems S.A. The report finds that companies such as C. R. Bard, Inc., Boston Scientific Corporation, and Cook Group have a strong hold over the global market. They’ve achieved this via excellent distribution networks and strong regional presence. With their financial might, these players often acquire niche device developers across the world to retain their dominance. However, the report also observes that the degree of competition is high in this maturing market owing to rapid advancements in supporting technologies. 

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