In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
A Nephroureteral stent is also known as ureteric stent is a thin tube inserted into the ureter to prevent or treat obstruction of the urine flow due to conditions such as kidney stone, tumors, infections, etc. It is done to restore urine flow through blocked ureters and retain the normal functions of kidney. These devices are inserted into the ureter during or after treating kidney stones or tumors and urinary incontinence. They are placed in ureters through a surgical procedure known as Ureteral stenting. One end of the device is placed in the urinary bladder while the other end remains in the kidney. The ends may be coiled to prevent dislocation of the stent. It is often left temporarily till the blockage is removed. The stent can be deployed on the right place using variegated endourological techniques and generally inserted with the assistance of a cystoscope. The length of these stents used in adult patients varies from 24 to 30 cm, stents come in different diameters or gauges, to fit different size ureters. It has been notified that normally a person can have nephroureteral stents for not more than 3 to 6 months. If they are left for longer duration, there can be a chance of secondary complications such as stone formation, urethral infection, etc. which makes removal of stents difficult.
Sedentary lifestyle increases the risk of many diseases such as heart disease, diabetes, kidney stone etc. Increase in adoption of sedentary lifestyle is expected to boost the growth of the Nephroureteral stent market growth. Geriatric population tend to possess more chances of urinal problems which increases the demand for ureteric stents which is expected to boost the growth of the nephroureteral stent market.
The Nephroureteral stent market is anticipated to record a CAGR of around 7% during the forecast period i.e. 2019-2027. The market is segmented by end user, out of which, the hospitals segment is anticipated to have significant growth on account of sedentary lifestyle and increasing geriatric population.
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A sedentary lifestyle is a type of lifestyle which involves little or no physical activity. A person who is living a sedentary lifestyle is often sitting or lying down while engaged in an activity such as reading, socializing, watching television, playing video games or using a mobile phone or computer for much of the day. Such kind of lifestyle increases the risk of many kind of diseases such as heart disease, diabetes, kidney stone etc. Increase in adoption of such lifestyle is expected to boost the growth of the Nephroureteral stent market.
In geriatric population, there are increased chances of diseases such as heart diseases, diabetes, kidney stone, urinal problems etc. which will increase the demand for nephroureteral stents. Increasing geriatric population is expected to boost the growth of the nephroureteral stent market.
Due to lack of exercise and poor dietary habits people tend to become obese and prone to various diseases such as kidney stone, urinal problems, diabetes etc. which give rise to the demand for ureteric stents. This is expected to boost the growth of nephroureteral stents market.
Metabolic syndrome is a cluster of medical conditions that occur together increasing the risk of heart disease, stroke and type 2 diabetes. These conditions include increased blood pressure, high blood sugar, excess body fat around the waist and abnormal cholesterol or triglyceride levels. Increasing prevalence of metabolic ailments is expected to boost the growth of the nephroureteral stent market.
People face complications and side effects after the removal of the stent such as increased frequency of passing urine, urgency to pass urine, fever, pain etc. which is expected to hamper the growth of the nephroureteral stent market.
Stent placement is a complex process and every surgeon does not possess the appropriate skills which means that not all surgeons are capable of stent replacement surgeries which is expected to hamper the nephroureteral stent market growth.
Our in- depth analysis of the Nephroureteral stent market includes the following segment:
By Composition Materials
By End User
On the basis of regional analysis, the Nephroureteral stent market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America and Europe are expected to witness high growth on the back of increased number of urological surgeries, presence of key global players in the region and continuous research and development projects. Asia Pacific is expected to show positive growth on the back of favorable patient demographics and developing healthcare infrastructure. Middle East is expected to grow significantly on the back of better urology services.
The Nephroureteral stent market is further classified on the basis of region as follows: