The latest market report published by Credence Research, Inc. “Global Kidney Stone Management Devices Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global kidney stone management devices market is anticipated to grow at a substantial CAGR of 3.90% in the upcoming years. The global Kidney stone management devices industry was estimated to be worth USD 2.8 billion in 2022 and was expected to be worth USD 3.7 billion by 2030.
Kidney Stone Management Devices Market refers to the market for medical devices and equipment used in the diagnosis, treatment, and management of kidney stones, also known as renal calculi. Kidney stones are small, hard mineral and salt deposits that form in the kidneys and can cause significant pain and discomfort when they pass through the urinary tract.
Kidney Stone Management Devices Market is driven by factors such as the increasing prevalence of kidney stones, technological advancements in the devices, and a growing preference for minimally invasive procedures. The market includes various players, including medical device manufacturers, distributors, and healthcare facilities, and it is influenced by factors such as healthcare infrastructure, reimbursement policies, and patient demographics.
North America led the market in 2022 due to the rising incidence of kidney stones, increased use of minimally invasive procedures, and significant investment in R&D. A consistent increase in the number of patients with kidney stones in the U.S. and Canada has fueled the demand for kidney stone retrieval devices.
The U.S and the UK were the leading nations in the market due to an increase in research collaborations, government initiatives, and efforts alongside a growing patient population. Rising patient awareness, expanding healthcare infrastructure, and the increasing prevalence of stone disorders are also contributing to market growth. The impact of COVID-19 pandemic has significantly affected the market, resulting in fewer patients seeking diagnoses and treatments. Moreover, negative side effects associated with lithotripsy could pose additional obstacles to market expansion.
Kidney Stone Management Devices Market major players analysis provides an in-depth evaluation of the most influential companies operating within this industry. These leading market players are identified and analyzed based on their revenue, product offerings, market share, and growth strategies. Some of the key players in this market include Boston Scientific Corporation, Cook Medical Inc., and Olympus Corporation among others. The report offers a comprehensive overview of each company’s product portfolio encompassing shockwave lithotripsy devices, ureteroscopes, laser fibers and baskets for stone removal which are used for kidney stone management.
The kidney stone management devices market is influenced by several key dynamics that impact its growth and development. These dynamics include:
- Prevalence of Kidney Stones: The prevalence of kidney stones is a major driving force behind the demand for kidney stone management devices. Kidney stones are a common urological condition, and their incidence is increasing worldwide. The growing prevalence of kidney stones fuels the demand for effective treatment and management options, driving the growth of the market.
- Advancements in Technology: Technological advancements play a crucial role in the kidney stone management devices market. Innovative technologies and devices, such as lithotripters, ureteroscopes, and stone retrieval devices, have improved the efficacy and safety of kidney stone treatments. Advancements like miniaturization, improved imaging capabilities, and enhanced surgical techniques contribute to the market’s growth by providing better treatment options.
- Increasing Minimally Invasive Procedures: Minimally invasive procedures have gained significant popularity in the field of kidney stone management. These procedures, such as extracorporeal shockwave lithotripsy (ESWL), ureteroscopy, and percutaneous nephrolithotomy (PCNL), offer advantages like shorter recovery time, reduced pain, and minimal scarring. The shift towards minimally invasive procedures has increased the demand for specialized devices and equipment, positively impacting the market.
- Growing Geriatric Population: The geriatric population is more susceptible to kidney stone formation due to age-related changes in the urinary system. As the global population continues to age, the incidence of kidney stones is expected to rise. This demographic shift drives the demand for kidney stone management devices, as older adults often require treatment interventions for kidney stone-related issues.
- Increasing Awareness and Diagnostic Rates: Growing awareness about kidney stone symptoms and the availability of diagnostic techniques have led to earlier detection and diagnosis of kidney stones. Early diagnosis enables timely treatment and better outcomes, resulting in a higher demand for kidney stone management devices.
- Reimbursement Policies: Reimbursement policies and coverage for kidney stone management procedures and devices impact market dynamics. Favorable reimbursement policies encourage healthcare providers to offer advanced treatment options and invest in innovative devices, thereby driving market growth.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Kidney Stone Management Devices Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Product Type and End-Use
- Major nations in each region with their import/export statistics
- The global Kidney Stone Management Devices Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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