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Urolithiasis is referred to as kidney stone and is a condition that is characterized by presence of a calculi or a solid piece material in the urinary tract of an individual. These solid mass commonly known as kidney stone is typically formed in the renal area that is eliminated from the body through the urine stream.
Statistics:
The global urolithiasis management devices market was estimated to account for US$ 1,430.1 Mn in terms of value by the end of 2019.
Global Urolithiasis Management Devices Market: Drivers
Increasing adoption of advanced devices is expected to propel growth of the global urolithiasis management devices market over the forecast period. For instance, in August 2019, Central Ohio Urology Group became the first in Columbus, U.S., to offer MOSES Pulse 120H holmium laser by Lumenis, which enables them to provide minimally invasive surgeries for kidney stone removal and enlarged prostate.
Global Urolithiasis Management Devices Market: Opportunities
Launch of community to boost innovation in the field of urology is expected to offer lucrative growth opportunities for players in the global urolithiasis management devices market. For instance, in August 2020, Dornier MedTech, a developer of non-invasive Extracorporeal Shockwave Lithotripsy (ESWL) technology, launched UroX, a community that connects professionals from various disciplines to cultivate innovation and solve the most pressing challenges in urology.
Global Urolithiasis Management Devices Market: Restraints
High cost of devices is expected to hinder growth of the global urolithiasis management devices market over the forecast period.
Key Takeaways:
The global urolithiasis management devices market was valued at US$ 1,430.1 Mn in 2019 and is forecast to reach a value of US$ 2,033.6 Mn by 2027 at a CAGR of 4.5% between 2020 and 2027. Increasing prevalence of urolithiasis in developed and developing economies is expected assist the market growth.
Shock Wave Lithotripter segment held dominant position in the global urolithiasis management devices market in 2019, accounting for 65.1% share in terms of value, increasing product approvals is expected to assist the market growth during the forecast period.
Market Trends
Major players in the global urolithiasis management devices market are focused on launching new products to expand their product portfolio. For instance, in September 2018, Boston Scientific Corp., launched its LithoVue Empower retrieval deployment device designed to be used with the LithoVue single-use digital flexible ureteroscope during ureteroscopic kidney stone retrieval procedures.
Launch of advanced image post-processing software for urology is expected to propel growth of the global urolithiasis management devices market. For instance, in September 2019, Dornier MedTech, launched OptiVision technology for the Dornier Delta III, designed specifically to improve stone treatment outcomes, at the German Urology Congress 2019 in Hamburg.
Global Urolithiasis Management Devices Market: Competitive Landscape
Major players operating in the global urolithiasis management devices market include, Lumenis Ltd., Boston Scientific Corp., BD, Cook Medical, Karl Storz, Allengers Medical Systems, Inc., Olympus Corporation, Electro Medical Systems SA, Dornier MedTech GmbH, and Direx Group.
Global Urolithiasis Management Devices Market: Key Developments
Major players in the global urolithiasis management devices market are focused on launching new products to expand their product portfolio. For instance, in June 2020, Olympus Corporation launched Soltive SuperPulsed Laser System (Soltive Laser System), a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.
Segmentation
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