Global Kidney stones Market – Overview
Kidney stones are hard mineral deposits inside the kidneys that can cause severe pain and discomfort. The global kidney stone market is growing at a steady pace and it is expected to grow at a CAGR of 4.0% during the forecast period of 2020 – 2027. There are a number of protuberant factors associated with this kidney stone Management market. Growing demand for minimally invasive procedures driven by the surging preference of these is one of the major drivers contributing to the market growth. The preference to minimally invasive procedures is driven by their success rate which is 75-100%. Additionally, according to the National Kidney Foundation, it has been found that more than 73 million adults have high blood pressure and 29 million adults are suffering from diabetes which are the major reason for urolithiasis. That being said, continuously recorded and increasing instances of urolithiasis in the adult is leading to the rise in the prevalence of kidney stone disorder across the globe. Another major reason driving the prevalence of kidney stone disorders is population and poor nutrition. According to experts, individuals who are predisposed to hunger and sub-par nutrition are prone to kidney disorders and thus, add to the total global prevalence to a great extent. With such growth factors the market size is expected to reach $3,000 million in 2027 from $2,277.4 in 2016.
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Global Kidney stones Market – Competitive Analysis
Furthermore the kidney stone treatment market has turned into a critical factor in the global urology industry. Through extensive research it is found out that the market players have adopted the strategy of acquisitions in the market. In 2016 Boston Scientific acquired Distal Access, LLC with its product line gynecology and urology. Distal Access a U.S. based company involved in manufacturing minimal invasive devices. This acquisition will help Boston Scientific reduce the pressure of developing minimal invasive devices. The gynecology and urology devices manufactured by Distal Access will be integrated into the Boston Scientific urology and pelvic health business. Be that as it may, in February 2016, Stryker Corp announced a definitive agreement to acquire Synergetics USA, Inc.’s Neuro Portfolio. This strategic step of the company to acquire all the neurological product portfolio of Synergetics USA, Inc.’s will strengthen the company’s presence in the field of Neurology, adding to their global footprint. In a similar distribution agreement by the Olympus Corp of The Americas with Arc Medical Design, will facilitate and improve the distribution strength of the partner companies in the U.S. and Canada, resulting in improving their worldwide sales. There are various others players involved in following this strategy of acquisition that is helping in the growth of revenue of the companies and in turn influencing the growth of the market.
Globally there are various players operating in this market. With well-established market in the North America region major companies have their home in the region and generate maximum market share. These companies have expanded their operating unit in various other regions as well. Moreover there are other small and medium scale players that generate revenue from local market.
Minimally invasive procedures for the treatment of kidney stones has been the major factor influencing the growth of the market. A majority of industrial competitors involved in this market have been keen on introducing advanced products for minimally invasive procedures. In November 2016, Boston Scientific Corporation introduced Dakota Nitinol Stone Retrieval Device with OpenSure Handle in US and Europe market. This kidney stone retrieval device is designed to allow to release and capture kidney stones of multiple sizes from complex stones as large as 10 millimeters to fragments as small as one millimeter. This product will support the company to imprison its position and resolve a few challenges faced during ureteroscopy procedures. Adding to this in May 2020, Lumenis a well know medical device company launched its New Moses holmium technology in the American Urological Association Annual Meeting. To this technology Dr. Andrew Symes, Consultant Urological Surgeon said “The Moses technology provides a greater sense of control due to minimized retropulsion. This is particularly valuable when dusting large stones in the kidney, but also when dealing with upper ureteric stones”. These advancements are collectively influencing the growth of this market positively.
The key players profiled in Kidney stone are Boston Scientific Corporation, Convergent Laser Technologies, DirexGroup, Siemens Healthcare GmbH, C.R. Bard Inc, Cook Medical Inc., Dornier MedTech GmbH, Richard Wolf Medical Instruments Corporation, Olympus Corporation, and Stryker Corporation
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