According to a new report published by Allied Market Research, titled, Ureteral Stents Market by Product, Material, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global ureteral stents market was valued at $304 million in 2016, and is estimated to reach $449 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. The double pigtail stents segment held the highest market share in 2016.
Access Full Summary at: https://www.alliedmarketresearch.com/ureteral-stents-market
Ureteral stents are used to enable the drainage of urine from blocked ureters in the case of various urological disorders such as kidney stones, tumors, urinary incontinence, and kidney transplantation.
Constant technological developments, rise in incidence of urological diseases, and increase in medical tourism in the developing countries drive the growth of the market. However, lack of skilled urologists and complications related to ureteral stents are expected to limit the market growth.
The global ureteral stents market is segmented based on product, material, application, end user, and geography. On the basis of product, the double pigtail stents segment held the highest market share in 2016, owing to increased use of these instruments in surgical procedures.
By material, Metallic Stents segment held the highest market share in 2016, and Polymer Stents segment is expected to grow at the highest rate, registering the CAGR of 8.2% by 2023.
Based on application, metallic stents segment held the largest market share in 2016, due to increase in geriatric population and sedentary lifestyle.
Based on end user, hospitals have witnessed the highest number of urological surgeries, thus accounting for the highest market share in 2016.
Key Findings Of The Ureteral Stents Market:
- Double pigtail stents segment dominated the market in 2016, and multiloop stents segment is projected to grow at the highest CAGR during the forecast period.
- The metallic stents segment accounted for the highest share in 2016.
- U.S. was the major shareholder in the North American ureteral stents market in 2016.
- Asia-Pacific is expected to register the highest growth rate in future.
- India is expected to grow at the highest CAGR in the Asia-Pacific ureteral stents market.
North America accounted for two-fifths share in 2016, and is expected to dominate the market throughout the forecast period. This is attributed to the presence of well-established healthcare systems and increase in prevalence of diseases, such as kidney stones and tumors. In addition, higher adoption rate for technologically advanced devices is anticipated to provide new growth opportunities for the key players in the North American market. However, Asia-Pacific is projected to grow at the highest growth rate during the analysis period, owing to rise in healthcare expenditure, increase in per capita income, growth in demand for healthcare services from a large patient pool, and improvement in healthcare infrastructure.
The major players profiled in the global ureteral stents market are Boston Scientific Corporation, B. Braun Holding GmbH & Co. KG, Cook Group Incorporated, C. R. Bard, Inc., Coloplast Ltd., Medline Industries, Inc., Allium Medical Solutions Ltd., Pnn Medical A/S, Teleflex Incorporated, and Olympus Corporation.