Ureteral Stents Market is expected to garner $ 449 Million by 2023

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

Urethral stents are used to enable drainage of urine from the blocked ureter in the case of various urological diseases such as kidney stones, tumors, urinary incontinence and kidney transplants.
The market will grow because of constant scientific and technological development, increased incidence of urological diseases, and increased medical tourism in developing countries. However, it is expected to limit the shortage of skilled urologists and market growth associated with the ureter stent.

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The global urethral stent market is categorized by product, material, application, end user, and region. On a product basis, the dual pigtail stent segment maintained its highest market share in 2016 due to increased use of these tools in surgical procedures.

In terms of materials, the Metallic Stents sector has the highest market share in 2016 and the polymer stent sector is expected to grow at an annual average rate of 8.2% by 2023.

Based on the application, the metal stent segment maintained its largest market share in 2016 due to increased elderly population and sedentary lifestyles.

On an end-user basis, the hospital witnessed the largest number of urologic surgeries, thus taking the largest 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.
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.

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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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