The ureteral stent market is expected to register a CAGR of 6.1% during the forecast period, owing to the rising burden of the geriatric population and urological disease. The most common urological diseases are benign prostatic hyperplasia (BPH), urinary tract infections (UTIs), and kidney and ureteral stones, according to the American Urological Association Foundation.
- Urinary tract infection is referred to as the infection caused in any part of the urinary system. According to the study published in Microbiology Spectrum, in 2016, around 150 million people had been affected by urinary tract infections globally every year, and it is one of the most occurring bacterial infections.
- Also, according to the World Health Organization, in 2018, the incidence of prostate cancer is around 1.3 million. The treatment for these diseases involves the use of ureteral stents, which is expected to fuel the ureteral stent market growth.
Key Market Trends
Urinary Tract Infection Segment is Expected to Exibhit a Significant Growth Rate in the Ureteral Stent Market
- The urinary tract infection segment is expected to exhibit significant growth in the ureteral stents market, owing to a higher incidence of urinary tract infection and higher adoption of ureteral stents. According to the study published in 2018 by Urology, around 92,000 stents are placed every year in the United States.
- Furthermore, according to the Therapeutics Advances in Urology, 2019, the incidence of urinary tract infection in adult women was around 50%- 60% globally. As the age increases, the risk of acquiring the urinary tract infection is at par and the prevalence rate is almost double in 65 years and above aged women than the rate in the overall population of the female. Hence, these factors are expected to impact positively on the ureteral stents market in this segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global ureteral stent market due to the growing burden of diseases related to the kidney. According to the Center for Disease Control and Prevention data of 2019, in the United States, at least one person out of seven suffers from chronic kidney disease (CKD). Furthermore, almost 37 million population of the United States are affected by CKD and almost 90% of the population is unaware of the situation. Furthermore, according to the Center for Disease Control and Prevention, chronic kidney disease is commonly found in the older population. The prevalence rate of chronic kidney disease is approximately 38% in the population of 65 years and above. Thus, the rising geriatric population and higher prevalence of chronic kidney disease are expected to be major contributors in the ureteral stents market for this region.
Companies have been taking strategic initiatives such as collaborations, mergers, and acquisitions, which is expected to drive the market growth. For instance, in 2017, Beckton, Dickinson, and Company acquired C.R. Bard for expansion of its product line, which also included ureteral stents. In terms of market share, few of the major players have been currently dominating the market studied. Some of the companies, which are currently dominating the market are Uromed, Allium Medical, Coloplast, Beckton, Dickinson, and Company (C.R. Bard, Teleflex Inc.), Boston Scientific, Olympus America, Cook Medical, and B. Braun.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support