Ureteroscope Market |2021 Analysis, Key Opportunities Major Players, Impact of COVID-19 and Size, Growth, Share, Regional Analysis With Global Industry Forecast To 2027, The global “Ureteroscope Market” is projected to reach USD 1,498.1 million by 2027, exhibiting a CAGR of 5.5% during the forecast period. Increasing incidence of kidney stones is expected to stoke adoption of these devices, states Fortune Business Insights™ in its report, titled “Ureteroscope Market Size, Share COVID-19 Impact Analysis, By Product (Flexible, Semi-flexible, and Rigid), By Application (Urolithiasis, Urolithial Carcinoma, and Others), End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027”.
A study published by the US National Institutes of Health (NIH) in 2018 revealed that kidney stone disease prevalence and its recurrence is rising. According to the study, 12% of the global population suffers from urolithiasis, which is the process of formation of stones, at some point during their lifetime. Affecting all races, sexes, and age groups, the disease is evidenced to be more prevalent in men than women. Ureteroscopeaid in treating stone diseases as they help in pinpointing the location of the stone formation and help remove them efficiently. Thus, the growing prevalence of urolithiasis (or nephrolithiasis) is anticipated to boost the adoption of these devices in the coming years.
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Ureteroscope Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
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Regional Insights
Robust Healthcare Infrastructure to be the Key Driving Factor for North America
The US and Canada boast of a strong and developed healthcare infrastructure, with health facilities actively adopting modern medical devices and technologies. This is additionally bolstered by favorable reimbursement policies and growing demand for advanced medical procedures. Together, these factors enabled the market size in the region to reach USD 370.1 million and have a share of 37.7% in 2019. Based on these numbers, it is expected that the region will further strengthen its hold on the ureteroscope market share during the forecast period.
In Asia Pacific, the market is anticipated to expand at a considerable rate owing to increasing presence of global companies in developing countries such as India and China. Improving healthcare expenditure is also aiding the regional market growth.
As per the report findings, the global ureterscopy market value stood at USD 981.8 million in 2019. Aside from this, the report provides the following:
- Panoramic overview of the general industry trends and outlook;
- Detailed analysis of the factors shaping the market size, share, and overall growth;
- Thorough evaluation of the market segments; and
- In-depth research into the regional developments and competitive dynamics of the market.
Market Driver
Close Linkage between Diabetes and Kidney Stones to Support Market Growth
Kidney stones, or renal calculi, are crystal mass formations that can originate anywhere along the urinary tract. These stones are of various types such as calcium, uric acid, struvite, and cysteine. Research has found that diabetes is one of the most common risk factors for developing kidney stone because the high blood sugar levels in diabetics make their blood more acidic, creating the ideal environment for stones to form. According to the medical journal European Urology, people with type 2 diabetes having high insulin resistance are 92% more likely to form kidney stones than non-diabetic people. With diabetes expected to become more widespread in the coming decades, the demand for stone removal procedures is likely to rise and boost the ureteroscopes market growth in the process.
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