SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global ureteral stents market was valued at US$ 359.9 million in 2018, and is projected to exhibit a CAGR of 5.8% during the forecast period (2018 – 2026).
Key Trends and Analysis of the global Ureteral Stents Market:
Presence of key players who are focused on developing products that can bypass limitations such as infection, discomfort, and other problems, is contributing significantly to the market growth. For instance, in January 2019, Q Urological Corporation developed an aqueous hydrogel biomaterial, pAguamedicina, and patented processing method for production of very high aqueous content to produce 100% hydrogel catheters and stents.
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In addition, technological innovation in urology products are providing an immense opportunity for the manufacturer to produce technologically advanced ureteral stents. For instance, in June 2018, HydrUStent has developed the Hydrustent Biodegradable Ureteral Stent from its patented material, which prevents the need for a second surgery for stent removal, and also prevents bacterial colonization and biofilm formation which leads to infection.
Moreover, increasing prevalence of urological and kidney related disorders is expected to lead to high demand for ureteral stents over the forecast period. For instance, according to the National Center for Biotechnology Information (NCBI), October 2018, an estimated 1 to 19% of the population in India is suffering from urolithiasis.
Furthermore, increasing demand for kidney transplant procedures is expected to contribute to the market value. For instance, according to the Global Observatory on Donation and Transplantation, 2016, around 89,823 kidney transplant surgeries were performed worldwide in 2016, which was an increase by 6.5% from 2015. Thus, the increasing number of renal transplants and growing concerns related to urological dysfunctioning has increased demand for ureteral stents for post-operative convenience.
Acquisitions by key players in order to enhance their product portfolios is also facilitating growth of the global ureteral stents market. For instance, in June 2019, Merit Medical Systems, Inc. acquired Brightwater Medical, Inc., to align Merit’s Resolve drainage catheter portfolio with the Brightwater’s ConvertX biliary stent system, and enhance the company’s sales outside the U.S.
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Key Market Takeaways:
- The global ureteral stents market is projected to witness a CAGR of 5.8% during the forecast period (2018 – 2026) owing to increasing regulatory approvals for ureteral stents. For instance, in 2017, Q Urological Corporation received the U.S. Food and Drug Administration (FDA) approval for its new AguaMedicina PERSISTENT Structural Hydrogel Ureteral Stent. In 2018, the company announced the first human placement of its AguaMedicina PERSISTENT Structural Hydrogel Ureteral Stent.
- Among region, North America is expected to be the most lucrative region in the ureteral stents market, owing to high diagnosis and treatment rate of urological and kidney related disorders, increasing healthcare expenditure, high awareness for healthcare and access of ureteral stents due to presence of major players in the region
- Major players operating in the global ureteral Stents market include HydrUStent, LDA, UROMED Kurt Drews KG, Taewoong Medical Co., Ltd., Pnn Medical A/S, Optimed Medizinische Instrumente GmbH, Applied Medical Resources Corporation, Allium Medical Solutions Ltd., Cook Group, Becton, Dickinson And Company, B. Braun Melsungen AG, Coloplast A/S, Q Urological Corporation, Boston Scientific Corporation, Olympus Corporation, and Teleflex Incorporated.
Global Ureteral Stents Market, By Product Type
- Double Pigtail Stents
- Multiloop Stents
Global Ureteral Stents Market, By Product Type
- Metal Stents
- Silicone Ureteral Stents
- Hybrid Ureteral Stents
- Polyurethane Ureteral Stents
Global Ureteral Stents Market, By Application
- Percutaneous Nephrolithotomy
- Kidney Transplantation
- Urinary Incontinence
Global Ureteral Stents Market, By End User:
- Gastrointestinal Surgery Clinics
- Ambulatory Surgical Centers
Global Ureteral Stents Market, By Region:
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
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