According to a new report published by
Allied Market Research, titled, UreteralStents 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.
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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.
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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.
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