The need to combat with the ascent in the stone getting gathered at different sites, rise in the geriatric populace, increment in the sedentary way of life, are forecasted to support the CAGR in the forecast period.
According to the current analysis of Reports and Data, the global Stone Treatment Devices market was valued at USD 1,544.4 Million in 2019 and is expected to reach USD 2,210.4 Million by the year 2027, at a CAGR of 4.6%. Stone formation in the human body is an ailment that includes the production of stony concretions for the bladder or urinary tract and different parts of the body. It is framed by a multifaceted procedure that outcomes from various physicochemical occasions, including nucleation, super-saturation, aggregation, development, and maintenance of urinary stone segments inside tubular cells. Stone treatment devices are the blend of that hardware and instruments which are utilized for the total evacuation or the pulverization of the stone at the target site itself by sending shock waves. The expanding predominance of Kidney Stones, particularly in the geriatric populace, is driving the urinary stone treatment devices and equipment market development. The frequency of urinary stone is accounted for to be expanding over the globe. About 30% of individuals worldwide are fat, and almost 900 million individuals are geriatrics, which is required to increment to 1.4 billion by 2030. The occurrence of kidney stones is expanding, with an expected predominance running up to 17%.
Upsurge in the recurrence of the stone after the surgery, and inclination towards minimally invasive procedures are foreseen to move the market in the coming years. For example, as indicated by the National Kidney Foundation, it is assessed that every year, more than half a million people go to emergency spaces for kidney stone issues. It is evaluated that one of every ten individuals will have a kidney stone sooner or later. Moreover, development in the reimbursement strategies and acceleration in awareness during the estimated period is foreseen to fuel the market.
The absence of open awareness and legitimate information about the issues related to urinary stone infections, especially in the under-developed nations impedes market development. This absence of appropriate information turns into a detour for the Urinary stone treatment device producers. Also, rigid government guidelines for surgical procedures may hamper the market in the coming years.
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The global Stone Treatment Devices market is highly fragmented with significant players like Boston Scientific Corporation, Richard Wolf, Cook Medical, Olympus Corporation, STORZ medical, C. R. Bard, Inc., Dornier Medtech, Allengers Medical Systems, Coloplast, DirexGroup, Elmed Medical Systems and Medispec Ltd.
The COVID-19 impact:
The outbreak raised concern for the patient dealing with other underlying conditions. However, government authorities had laid down several guidelines to ensure patient safety and healthcare professional safety. The market has experienced a downturn over the weeks, which may continue over the next few months. The increased patient pool suffering from COVID-19 has disrupted the balance in healthcare. Manufacturing of medical devices have come to a temporary halt in multiple countries changed. The production of Stone Treatment Devices and supply chain has been disturbed, causing losses to the manufacturers, dealers, and consumers. The market might be facing a downside for the period. As the pandemic condition come under control, the market is expected to regain its pace of growth.
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Stone Treatment Devices market in these key regions.
Further key findings from the report suggest
About 38.5% of the worldwide Stone Treatment Devices showcase is done through Intracorporeal Ureteroscopy method, owing it to its high efficacy.
Europe accounted for a share of 27.9% in the year 2019, and is expected to propel at a significant pace during the estimated period.
Hospitals accounted for largest share of stone treatment devices market in the year 2019. The segment is expected to grow at the pace of 4.4%, owing it to the rising adoption of minimally invasive technologies.
Specialty Clinics by end-use section held the second biggest piece of the overall industry of 27.6% in the year 2019. The portion is relied upon to develop at the biggest rate because of the expansion in the selection of the stone treatment devices in the coming years.
The North American area held 39.1% of the global market as of 2019. The factor influencing the development of the market includes, high pervasiveness of the kidney stones in the locale.
The rising spending limit of people for improving quality of life and activities taken by the administrations in the district will fuel the market development in Asia-Pacific region.
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For the purpose of this report, Reports and Data have segmented into the global Stone Treatment Devices market on the basis of product, stone type, site, treatment type, end-use, and region:
Product Outlook (Revenue, USD Million; 2017-2027)
Stone Retrieval Devices
Holmium Laser Devices
Stone Type Outlook (Revenue, USD Million; 2017-2027)
Treatment Type Outlook (Revenue, USD Million; 2017-2027)
Extracorporeal Shock Wave Lithotripsy
End-Use Outlook (Revenue, USD Million; 2017-2027)
Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2017-2027)
Middle East & Africa
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