Rockville , March 08, 2023 (GLOBE NEWSWIRE) -- The global kidney stone management devices market is valued at US$ 1.9 billion in 2023 and is expected to reach a revenue of US$ 3.1 billion by the end of 2033, with global demand for kidney stone management devices expanding at 5% CAGR over the next ten years.
Calcium, phosphate, uric acid, and other minerals in excessive concentrations can lead to the formation of kidney stones, which are hard deposits of minerals. Although kidney stones seldom, if ever, result in permanent damage, they can inflict excruciating agony and discomfort as they move through the urinary tract.
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There are several drivers for the Kidney Stone Management Devices market, including:
- The incidence of kidney stones is increasing globally, with an estimated 1 in 10 people experiencing a kidney stone in their lifetime. This is a significant driver for the Kidney Stone Management Devices market, as it creates a high demand for devices that can help manage and treat kidney stones.
- The development of new technologies and innovative devices for kidney stone management has driven market growth. Advances in lithotripsy techniques, minimally invasive surgical techniques, and laser-based technologies have all contributed to the growth of the Kidney Stone Management Devices market.
- The growing awareness about the treatment and management of kidney stones has also driven market growth. Patients are now more informed about the various treatment options available and are seeking out effective and less invasive methods for managing kidney stones.
- The increasing healthcare expenditure and rising demand for cost-effective treatment options have also been supporting Kidney Stone Management Devices market. Patients are now more willing to pay for effective and less invasive treatment options for kidney stones.
- With the aging population, the incidence of kidney stones is increasing, which has contributed to the growth of the Kidney Stone Management Devices market. Older individuals are more prone to kidney stones, and as the population ages, the demand for effective kidney stone management devices is expected to increase.
Key Trends:
- Minimally invasive procedures for kidney stone management, such as ureteroscopy, percutaneous nephrolithotomy, and laser lithotripsy, are becoming more popular due to their lower risk of complications and faster recovery times. This has led to increased demand for devices that can facilitate these procedures.
- Advancements in imaging technologies such as ultrasound, CT scans, and MRI have improved the accuracy and efficiency of diagnosis, allowing healthcare professionals to identify kidney stones more quickly and accurately.
- Robotics technology is being increasingly integrated into kidney stone management procedures to improve accuracy and efficiency. Robotic-assisted procedures can offer precise control and visualization of the treatment site, reducing the risk of complications and improving patient outcomes.
- Disposable devices are becoming more popular due to their cost-effectiveness, reduced risk of infection, and convenience. This has led to an increase in the development of disposable devices for kidney stone management, such as ureteroscopy, guidewires, and baskets.
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Restraints for the Kidney Stone Management Devices Market
- The cost of kidney stone treatment is high, particularly for advanced procedures such as lithotripsy or surgical interventions. This can be a significant barrier for patients who may not have access to adequate insurance coverage or who cannot afford the cost of treatment out of pocket.
- Besides this, the Kidney Stone Management Devices market is heavily regulated, with many devices requiring approval from regulatory agencies such as the FDA before they can be marketed and sold. This can create significant delays and increase the cost of bringing new products to market.
Competitive Landscape:
The kidney stone management devices market comprises big firms and these players are also adopting various strategies such as key partnerships and acquisitions to attract high market revenue. Moreover, companies are investing significantly to advance the development of their solutions.
- In November 2022, Sonomotion (a technology startup) announced that it had raised US $ 12.4 Bn in a Series C funding. The company used this capital to advance the development of its ultrasound solutions.
Also, there is a growing trend of collaboration between industry players, including medical device manufacturers, healthcare professionals, and researchers, to develop new and innovative kidney stone management devices.
Key Companies Profiled
- Siemens Healthineers AG
- Inceler Medikal Co. Ltd.
- DirexGroup
- EDAP TMS S.A.
- Dornier MedTech (Subsidiary of Accuron MedTech)
- Lumenis Ltd.
- GEMSS Co. Ltd.
- Richard Wolf GmbH.
- STORZ MEDICAL AG
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Kidney Stone Management Devices Industry Research Segmentation
By Product Type :
- Lithotripsy Devices
- Ureteroscopes
- Nephroscopes
By End User :
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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