The global ‘ureteroscope market size‘ is projected to reach USD 1,498.1 million by 2027, exhibiting a CAGR of 5.5% during the forecast period. Increasing incidence of kidney stones is expected to stoke adoption of these devices, states Fortune Business Insights™ in its report, titled “Ureteroscope Market Size, Share &COVID-19 Impact Analysis, By Product (Flexible, Semi-flexible, and Rigid), By Application (Urolithiasis, Urolithial Carcinoma, and Others), End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027”.
A study published by the US National Institutes of Health (NIH) in 2018 revealed that kidney stone disease prevalence and its recurrence is rising. According to the study, 12% of the global population suffers from urolithiasis, which is the process of formation of stones, at some point during their lifetime. Affecting all races, sexes, and age groups, the disease is evidenced to be more prevalent in men than women. Ureteroscopeaid in treating stone diseases as they help in pinpointing the location of the stone formation and help remove them efficiently. Thus, the growing prevalence of urolithiasis (or nephrolithiasis) is anticipated to boost the adoption of these devices in the coming years.
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As per the report findings, the global ureterscopy market value stood at USD 981.8 million in 2019. Aside from this, the report provides the following:
- Panoramic overview of the general industry trends and outlook;
- Detailed analysis of the factors shaping the market size, share, and overall growth;
- Thorough evaluation of the market segments; and
- In-depth research into the regional developments and competitive dynamics of the market.
Robust Healthcare Infrastructure to be the Key Driving Factor for North America
The US and Canada boast of a strong and developed healthcare infrastructure, with health facilities actively adopting modern medical devices and technologies. This is additionally bolstered by favorable reimbursement policies and growing demand for advanced medical procedures. Together, these factors enabled the market size in the region to reach USD 370.1 million and have a share of 37.7% in 2019. Based on these numbers, it is expected that the region will further strengthen its hold on the ureteroscope market share during the forecast period.
In Asia Pacific, the market is anticipated to expand at a considerable rate owing to increasing presence of global companies in developing countries such as India and China. Improving healthcare expenditure is also aiding the regional market growth.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
Close Linkage between Diabetes and Kidney Stones to Support Market Growth
Kidney stones, or renal calculi, are crystal mass formations that can originate anywhere along the urinary tract. These stones are of various types such as calcium, uric acid, struvite, and cysteine. Research has found that diabetes is one of the most common risk factors for developing kidney stone because the high blood sugar levels in diabetics make their blood more acidic, creating the ideal environment for stones to form. According to the medical journal European Urology, people with type 2 diabetes having high insulin resistance are 92% more likely to form kidney stones than non-diabetic people. With diabetes expected to become more widespread in the coming decades, the demand for stone removal procedures is likely to rise and boost the ureteroscopes market growth in the process.
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Key Players to Concentrate on Widening Distribution Networks
One of the key focus areas for players in the ureteroscope market is the development and expansion of their global distribution networks. In pursuit of this goal, most companies in this market are collaborating or acquiring regional players to establish their foothold in foreign markets.
November 2019: Olympus Corporation inked a deal with the Monaco-based medical products company, Rocamed, to distribute the RocaFlow Double Chamber Pump System and Tubing Sets in Europe. The set includes ureteroscopes for kidney stones andtrans-urethral resection of the prostate.
April 2019: Dornier MedTech commercially released its innovative AXIS™ Single-Use Digital Flexible Ureteroscopes and other stone management products in the US. AXIS has been specifically designed to prevent cross-contamination between patients by ensuring a clean, sterile ureteroscope for every patient.
List of Key Players Covered in this Market Report:
- MD (CA, USA)
- PENTAX Medical
- Richard Wolf GmbH. (Illinois, United States)
- Stryker (Michigan, United States)
- Elmed Electronics & Medical Industry & Trade Inc
- KARL STORZ (Tuttlingen, Germany)
- Olympus Corporation
Table Of Content :
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Market Drivers
- Market Restraints
- Market Opportunities
- Prevalence of Urolithiasis, By Country/Region
- Technological Advancements in Ureteroscope
- Recent Industry Developments (Mergers, Partnerships, and Acquisitions)
- Impact of COVID-19 on Ureteroscope Market
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Segments Covered in the Report :
- Urolithial Cancer
By End User
- Specialty Clinics
- North America
- By Product
- By Application
- By End User
- By Country
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