Market Trends of Ureteroscopes Industry
This section covers the major market trends shaping the Ureteroscopes Market according to our research experts:
Digital Ureteroscopes are Projected to Have a Highest CAGR During the Forecast Period
Digital ureteroscopes are expected to grow significantly due to their ease of use and technological advancements. In recent years, the digital ureteroscopes market has experienced significant evolution with the advent of new technologies. The digital ureteroscope allows complete mobility of 180 degrees. For instance, Olympus fiberoptics provides crystal-clear imaging. Olympus bending section provides maximum flexibility and durability using passive bending technology that prevents damage while enabling new access to formerly unreachable areas of the kidney along with complete mobility.
Furthermore, the introduction of a single-use digital flexible ureteroscope has opened new opportunities for the market as it provides detailed HD images for removing stones more efficiently and safely. Market growth is also driven by the development of more flexibility and the availability of high-definition cameras. For instance, Boston Scientific's LithoVue Single-Use Digital Flexible Ureteroscope delivers tangible financial benefits that have a long-term economic and clinical impact. The user can eliminate many steps to use, maintain, and handle a reusable ureteroscope. Thus, the benefits associated with the product are driving the market growth.
North America is Expected to Hold the Major Market Share During the Forecast Period
North America is expected to drive the market due to factors such as a sedentary lifestyle, unhealthy food habits, and the presence of key market players operating in the region. For instance, as per NLM data published in April 2021, the prevalence rate of kidney diseases was as high as 9 in 10 people in 2020.
According to the National Kidney Foundation estimates for 2022, more than 50% of seniors over 75 years are believed to have kidney disease. People over 60 years are also more likely to suffer from kidney disease than the rest of the general population. Thus, the increasing aging population is likely to contribute to market growth as the geriatric population is more prone to chronic diseases.
According to the United States Department of Health and Human Services, the prevalence of CKD among the American adult population was 16.2% in 2020. Almost half of the individuals with CKD suffer from diabetes and cardiovascular diseases. The same source stated that more than 661,000 Americans suffered from kidney failure, and 468,000 patients were given dialysis in 2020. Thus, the factors above are driving the growth of the region.
