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Ureteral Stents Market Expected to Reach $625.17 Million by 2030—Allied Market Research

 
2022
Ureteral Stents Market

Report Code : A04065

quote Increase number of kidney transplants, surge in geriatric population, technological advancements in stents composition materials, and increase in the incidence of urological diseases caused by colonization of microorganisms or sedentary lifestyle fuel the growth of the global ureteral stents market. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Ureteral Stents Market," The ureteral stents market was valued at $362.34 million in 2020, and is estimated to reach $625.17 million by 2030, growing at a CAGR of 5.6% from 2021 to 2030.

Ureteral stent is a thin hollow tube that is inserted into the ureter to alleviate blockages in the kidney's urine flow. These stents are used to treat various urological disorders, such as kidney stones, tumors, and urinary incontinence. These ureteral stents allow remaining fragments to pass through without blocking the ureter. In fact, any urological or kidney-related procedure mostly necessitates the use of a ureteral stent for the ureter to recover properly. The ureteral stent removal takes place after treatment procedure. Furthermore, the high prevalence of prostate cancer, tumors, or ureteral narrowing/scarring necessitates the use of ureteral stents during and after therapy.

Increase in number of kidney transplants, surge in geriatric population, and technological advancements in stents composition materials drive the Ureteral Stents Market growth. In addition, increase in the incidence of urological diseases caused by colonization of microorganisms or sedentary lifestyle is the major factor further boosts the market growth. However, lack of skilled professionals and adverse effects associated with the use of ureteral stents hinder the market growth.

On the basis of product type, the global ureteral stents market is categorized into open end stents, double pigtail stents, closed end stents, and multiloop stents.  The double pigtail stents segment is expected to dominate the market during the forecast period, owing to increase in urological disorders and urological obstruction, high demand for stents with minimized migration, and rise in awareness about advanced stents with less complications. In addition, numerous initiatives taken by government and healthcare agencies also boost the market growth. The multiloop stents segment is expected to register a CAGR of 8.3% during the forecast period, due to advancement in stent technology, high demand for polymer materials, such as Percuflex, and development of stents with soft, smooth, and flexible surface biocompatible stents.

On the basis of application, the urinary incontinence segment accounted for a major share of the market share in the global ureteral stents market in 2020. This segment is expected to exhibit a prominent growth ureteral stents market trends, owing to increase in geriatric population. In addition, the employment of ureteral stent, mainly double-J stent, ensures an appropriate urinary drainage from the kidney to the bladder.

On the basis of material, the metallic stents segment accounted for a major share of the ureteral stents market size in the global ureteral stents market in 2020. This segment is expected to exhibit a prominent growth rate, owing to the resistance of metallic ureteral stents to encrustation with stone material. This provides longer dwelling time and reduces the frequency of stent change surgeries.

On the basis of end user, the ureteral stents industry is classified as hospitals, clinics, and ambulatory surgical centers. the hospitals segment accounted for more than 6.3% of the global market share in 2020, and is expected to remain dominant during the forecast period, as the placement of the stent requires anesthesia to prevent the pain caused during surgery, which is easily possible at hospitals. Furthermore, the increase in incidence of urological disorders owing to the rise in mean age of the population has resulted in rise in number of hospitalizations. In addition, hospitals provide multi-specialty or multi healing, and operate in efficient and cost-effective way.

North America accounted for more than 5.9% of the global ureteral stents market share in 2020, and is expected to remain dominant during the forecast period. This was attributed to 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 also boosts the market growth. Asia-Pacific is projected to register the highest CAGR of 6.3% during the forecast 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 companies profiled in the report include, 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.

KEY FINDINGS OF THE STUDY

  • By product type, the double pigtail stents segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 5.2% from 2021 to 2030.
  • By application, the urinary incontinence segment is projected to grow at a CAGR of 4.9% during the forecast period.
  • By material, the metallic stents segment is expected to experience rapid growth in the market, and is projected to grow at a CAGR of 4.6% from 2021 to 2030.
  • By end user, the hospital segment is projected to grow at a CAGR of 6.3% during the forecast period.
  • Region-wise, North America is expected to experience growth at the highest rate, registering a CAGR of 5.9% during the forecast period.

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quote Ureteral Stents Market by Product Type (Open End Stents, Closed End Stents, Double Pigtail Stents, Multiloop Stents), by Material (Metallic Stents, Polymer Stents), by Application (Kidney Stones, Kidney Transplantation, Tumors, Urinary Incontinence, Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers (ASCs)): Global Opportunity Analysis and Industry Forecast, 2020-2030 quote

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