Report : Kidney Stone Retrieval Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Lithotripters, Stone Removal Devices, Ureteral Stents, and Ureterorenoscopes); Treatment (Extracorporeal Shock Wave Lithotripsy (ESWL), Intracorporeal Ureteroscopy, and Percutaneous Nephrolithotripsy); End User (Hospitals and Clinics, Specialty Clinics, and Ambulatory Surgery Centers), and Geography
Kidney Stone Retrieval Devices Market for Lithotripters Segment to Grow at Highest CAGR during 2020–2027
According to our new market research study on “Kidney Stone Retrieval Devices Market to 2027 – Global Analysis and Forecast – by Type, Treatment, and End User,” the market is expected to reach US$ 3,653.92 million by 2027 from US$ 2,541.07 million in 2019; it is estimated to grow at a CAGR of 13.2% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. The key factors driving the growth of the market include increasing incidence of kidney stone disease and escalating number of kidney stone retrieval device launches. However, the lack of expertise required for conducting minimally invasive procedures hinder the market growth.
Based on type, the kidney stone retrieval devices market is segmented into lithotripters, stone removal devices, ureteral stents, and ureterorenoscopes. The lithotripters segment held the largest share of the market in 2019, and it is further anticipated to register the highest CAGR during the forecast period. The increasing number of SWL and ESWL procedures, and mounting number of product launches. The increased demand for lithotripters is mainly attributed to their advantages such as noninvasiveness, faster treatment, and less painful experience during and after treatment. For instance, in May 2018, Dornier MedTech has announced its Dornier Delta III SmartLitho at the American Urology Association (AUA) Annual Meeting 2018; it is the world's first lithotripter system that utilizes Big Data analytics in urology.
Boston Scientific Corporation, BD, Cook Medical LLC, Olympus Corporation, Lumenis, Coloplast Group, STORZ MEDICAL AG, Walz Elektronik GmbH, Richard Wolf GmbH, and Dornier MedTech are among the leading companies operating in the kidney stone retrieval devices market. The companies have adopted inorganic and organic growth strategies to expand their global footprints and product portfolios to meet the rising demand for the kidney stone retrieval devices and services. For instance, in June 2020, Olympus Corporation, a global technology leader, launched the Soltive SuperPulsed Laser System( and Soltive Laser System) the product is enabled with the thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.
The report segments global kidney stone retrieval devices market as follows:
By End User