The increasing number of kidney stone removal surgeries around the world is driving the global market, says Fortune Business Insights in a report, titled “Kidney Stone Retrieval Device Market Size, Share and Global Trend By Type of Product (Stone Removal Baskets, Lithotripters, Ureteroscopes, Urinary Stents, Others), By Treatment (Intracorporeal Ureteroscopy, Extracorporeal Shock Wave Lithotripsy, Percutaneous Nephrolithotripsy), By End User (Hospitals & Clinics, Specialty Clinics, Ambulatory Surgery Centres) and Geography Forecast till 2026.” The rising demand for non-invasive interventions is expected to contribute significantly to the global market.
Some of the Main Key Players Covered in Market Report:
- Boston Scientific Corporation
- R. Bard Inc. (Becton Dickinson and Company)
- Cook Medical
- STORZ MEDICAL AG
- Richard Wolf GmbH
- Dornier MedTech
Product Launches by Key Players Will Favor Growth
The rising demand for minimally invasive interventions is leading to the availability of various types of kidney stone retrieval devices. This factor is driving the global market growth. Product launches by leading players is also predicted to support the growth of the global kidney stone retrieval device market. For instance, Boston Scientific announced the launch of their product offering of LithoVue Empower kidney stone retrieval device. Likewise, Boston Scientific announced the launch of the Dakota nitinol kidney stone retrieval device, for kidney stones ranging from 1mm to 10mm.
According to the Centers of Disease Control and Prevention, in 2016, the total number of adults in the U.S. diagnosed with kidney stones were approximately 4.9 million. These trends and factors together are expected to boost market revenue. Furthermore, the increasing number of kidney stone removal surgeries are also expected to stimulate the growth of the global market.
Rapid adoption towards endoscopes for diagnosis and treatment along with emerging government guidelines for surgical procedure for kidney stone removal is also expected to propel growth of the global kidney stone retrieval device market. In addition, the rising prevalence of kidney stones around the world is likely to fuel demand for kidney stone retrieval device, which in, turn, will enable the growth of the global market during the forecast period. However, Stringent government regulations and lack of skilled professionals in emerging nations are factors predicted to restrict growth of the global market.
Favorable Reimbursement Policies Will Boost Growth in North America
Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America followed by Europe is expected to dominate the global kidney stone retrieval device market during the forecast period owing to increasing adoption of non-invasive surgical techniques and favourable reimbursement policies.
The rising prevalence of kidney stones is also expected to aid growth of the global market. retrieval market in Asia Pacific is expected to grow at a remarkable rate during the forecast period owing to the increasing prevalence of kidney stones and growing need for safe and minimally invasive surgical methods.
Increasing healthcare infrastructure, increasing demand for technologically advanced medical devices and rising disposable incomes is expected to boost the kidney stone retrieval device market growth in the forthcoming year. kidney stone retrieval device market in Latin America and Middle East & Africa is likely to grow significantly owing to the increasing prevalence of kidney stones in the regions.
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