The global kidney stone management market size is expected to rise prominently on account of the increasing cases of kidney stone among people worldwide. This is further attributed to the formation of crystal-like substances such as uric acid, oxalate, and calcium which cannot be diluted in the urine as a result of consuming food and drinks that are rich in phosphate and oxalate. A recent report by Fortune Business Insights, titled, “Kidney Stone Management Market Size, Share & COVID-19 Impact Analysis, By Type (Lithotripsy, Ureteroscopy, and Percutaneous Nephrolithotomy (PCNL) By End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and Regional Forecast, 2020-2027,” states that the market was valued at USD 1.47 billion in 2019 and is anticipated to rise at a CAGR of 5.3% to reach USD 2.21 billion by the end of 2027.
Currently, the COVID-19 pandemic has brought about many devastating effects on both human life and the world economy. Lockdown is followed globally and this has impacted most businesses, both on national and international levels. However, we hope to overcome this panic phase soon and things would get back to normal with support from the government. We, at Fortune Business Insights, are offering special reports on various markets that have exhibited a significant impact owing to the coronavirus.
Drivers & Restraints-
Advent of Miniaturized Surgery to Propel Growth
The increasing prevalence of kidney stones and the advent of surgeries with less-spot pain, minimal complications, or minimally invasive technologies are the key factors promoting the kidney stone management market growth. This, coupled with the reimbursement policies provided by the governments of various countries, would also aid in the expansion of the market in the forecast period. Additionally, the advent of latest innovations in medical technology such as miniaturized surgery, disposable ureteroscope, flexible fibre-optic ureteroscope, and holmium laser technology is further expected to add impetus to the urinary stone management devices market in the forecast period.
On the contrary, factors such as the impact of COVID-19 that forced many small hospitals and medical resources to shut down may pose a pivotal challenge to the market in the coming years. This, coupled with the side effects of using these devices such as shock wave lithotripsy, bleeding around the kidney, stone recurrence, urine blockage owing to broken stones, rise in arterial blood pressure, and others may also cause hindrance to the urinary stone treatment devices market in the coming years.
Nevertheless, the latest innovations in this field, such as MOSES technology, miniaturized surgeries, and others are likely to create lucrative growth opportunities to the market for kidney stone management devices in the future.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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