Global Kidney Stone Retrieval Device Market is expected to grow at a CAGR of 4.6% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Kidney Stone Retrieval Device Market By Type (Stone Removal Baskets, Ureteroscopes, Lithotripters, Urinary Stents And Others), Treatment (Intracorporeal Ureteroscopy, Percutaneous Nephrolithotripsy, Extracorporeal Shock Wave Lithotripsy, And Others), End-user Applications, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global kidney stone retrieval device market is expected to grow from USD 1.89 billion in 2019 to USD 2.74 billion by 2027, at a CAGR of 4.6% during the forecast period 2020-2027. North America accounts for the largest market share attributing to factors such as increasing patient population, a sedated lifestyle of consumers, growing health awareness, increasing cases of reoccurrence of the stones, reimbursement policies, technological innovation and medical infrastructure. Asia-Pacific is anticipated to grow at a high growth rate in future. Increase in incidence of kidney stone, improving healthcare infrastructure, increasing investment by both government and private entities and rise in acceptance of endoscopic surgical procedures are propelling the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the key players in the kidney stone retrieval device market are Convergent Laser Technologies, Boston Scientific Corporation, C.R. Bard Inc, Cook Medical Inc, DirexGroup, Siemens Healthcare GmbH, Richard Wolf Medical Instruments Corporation, Dornier MedTech GmbH, Stryker Corporation, and Olympus Corporation.
By the type of product, the market is segmented into stone removal baskets, ureteroscopes, lithotripters, urinary stents and others. Urinary stents re-establishes the flow of urine through choked ureters to return regular kidney functions. The urinary stent is a soft plastic hollow tube which is placed into the ureter to extract around the kidney stone for a short period of time. Lithotripter is a device which can crush the kidney stones by sound waves or a shock wave through a water-filled tube. It is the fastest-growing segment as it doesn’t require any surgical procedure. Based on the type of treatment, the market is divided into intracorporeal ureteroscopy, percutaneous nephrolithotripsy, extracorporeal shock wave lithotripsy, and others. The ureteroscopy segment is expected to grow at a high growth rate, as it provides an unobstructed view of the urinary tract, can take out suspicious tissue, and break the kidney stones. Based on the end-user applications, the market is bifurcated into hospitals, clinics, kidney care centres, and others.
In August 2019, Boston Scientific Corp., a leading player in the healthcare industry acquired BTG plc. which develops and commercializes products that are used in minimally-invasive procedures. This strategic move is expected to expand the product portfolio of Boston Scientific Corp. and increase their footprint in the market.
About the report:
The global Kidney Stone Retrieval Device market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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