Major market players are spending a lot of money on R&D to increase their product lines, which will help the ureteral stents market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the ureteral stents industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the ureteral stents industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, ureteral stents industry has provided treatment with some of the most significant benefits. The ureteral stents market major player such as Boston Scientific (US), Cook Medical (US), Allium Medical (Israel), and others are working to expand the market demand by investing in research and development activities.
The Boston Scientific Corporation was established in year 1979 and its headquarters is in Marlborough, Massachusetts, United States. The company is a medical device developer, producer, and marketer with products used in a variety of interventional medical specialties. Cardiovascular and cardiac rhythm management (CRM) products are the company's key products. Electrophysiology, pain treatment (neuromodulation), endoscopy, pelvic health, and urology are among the devices it produces.
Biopsy forceps, coronary and urethral stents, catheters, defibrillators, pacemakers and needles are some of the company's diagnostic and treatment products. The company globally provides its products and services in more than 120 countries. The employee size of the company is 10,001+ employees. In June 2022, for its Tria Ureteral Stent, the first stent built with a patented surface technology intended to give protection against the accumulation from both urine calcium and magnesium salt deposits, Boston Scientific has been honoured with a Bronze Edison Award in the field of Science and Medicine.
Also, Allium Medical was established in year 2008 and its headquarters is in Haeshel St, Caesarea, Israel. The company develops, produces, and markets cutting-edge, long-lasting, fully covered, expandable, and retrievable stents for the treatment of various blockages in the GI and urinary tracts on a scale. In contrast to the usual practise of surgery or short-term solutions, Allium's distinctive stent solutions offer a less invasive, reversible alternative approach.
With its extensive proven experience and usage, Allium is paving the way for patients and doctors to provide the next level of patient care. In May 2018, The China Food and Drug Administration (CFDA) has granted Allium Medical, an Israeli medical device firm that specialises in minimally invasive technologies and solutions, permission to commercialise its range of urology systems in China. In the Chinese urology sector, the company has an exclusive strategic partnership with a distribution company.