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Urinary Stone Treatment Devices Market: Paving the Way for Advanced Urological Care
Urinary Stone Treatment Devices And Equipment Market
The urinary stone treatment devices and equipment market have exhibited robust growth, escalating from $2.97 billion in 2023 to an estimated $3.15 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 6.0%. The market is poised for continued expansion, forecasted to reach $3.86 billion by 2028, with a CAGR of 5.2%.
Rising Prevalence of Kidney Stones Driving Market Growth
The surge in the prevalence of kidney stones, particularly among the geriatric population, is a key factor propelling the growth of the urinary stone treatment devices and equipment market. Urolithiasis incidence is on the rise globally, with around 30% of the world's population classified as obese and nearly 900 million individuals falling into the geriatric category, expected to increase to 1.4 billion by 2030. The global prevalence of kidney stones is estimated to be as high as 15%, necessitating advanced treatment options.
Impact of Healthcare Expenditure on Market Expansion
The anticipated growth in healthcare expenditure is expected to fuel the expansion of the urinary stone treatment devices and equipment market. Healthcare expenditure, representing the total amount allocated to healthcare-related goods and services, plays a pivotal role in supporting the development, accessibility, and utilization of advanced urinary stone treatment technologies. As per data from the Canadian Institute for Health Information, healthcare expenditure rose to 0.8%, amounting to $331 billion in 2022, demonstrating the sector's financial commitment to driving market growth.
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Major Players Shaping the Landscape
Leading companies within the urinary stone treatment devices and equipment market are at the forefront of driving innovation and setting industry standards. Notable players such as Boston Scientific Corporation Inc., Cook Medical, C.R. Bard, Direx Group, Dornier MedTech, and others are contributing to the sector's growth through their expertise and technological advancements.
Innovative Advancements: Laser Technology and Robotic-Assisted Surgeries
Companies within the urinary stone treatment devices and equipment industry are increasingly investing in cutting-edge laser technology and robot-assisted surgeries for urolithiasis treatment. These advanced approaches, leveraging minimally invasive procedures, enhanced surgical tools, and robotics, aim to reduce hospitalization time and improve patient outcomes. For instance, Boston Scientific's collaboration with Lumenis signifies a strategic investment in advanced laser technology, showcasing the industry's commitment to innovation.
Revolutionizing Treatment with Ethicon's MONARCH Robotic Platform
Major companies in the urinary stone treatment devices and equipment market are introducing innovative platforms to revolutionize urinary stone treatment. Ethicon's MONARCH Platform, designed for urology procedures, facilitates flexible robotic-assisted surgeries. This breakthrough platform allows urologists to navigate the kidney with precision, providing enhanced access, clearance, and control through a handheld controller. The MONARCH Platform signifies a significant leap forward in treatment paradigms, enhancing patient outcomes and expanding revenue streams.
Market Dynamics: Regional Insights
North America dominated the urinary stone treatment devices and equipment market in 2023, with Western Europe following as the second-largest region. The market spans across Asia-Pacific, Western and Eastern Europe, North and South America, the Middle East, and Africa.
Segmentation: Tailoring Solutions for Diverse Needs
The urinary stone treatment devices and equipment market covered in this report is segmented -
1) By Product: Extracorporeal Shock Wave Lithotripsy Devices, Holmium Laser Devices, Intracorporeal Lithotripsy Devices, Stone Retrieval Devices, Ureteral Stents
2) By Stone Type: Calcium Stones, Struvite, Uric Acid, Cystine, Drug-Induced
3) By End User: Hospitals, Ambulatory Surgery Centers, Other End Users
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Urinary Stone Treatment Devices And Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Urinary Stone Treatment Devices And Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on urinary stone treatment devices and equipment market size, urinary stone treatment devices and equipment market drivers and trends, urinary stone treatment devices and equipment market major players, urinary stone treatment devices and equipment market competitors' revenues, urinary stone treatment devices and equipment market positioning, and urinary stone treatment devices and equipment market growth across geographies. The urinary stone treatment devices and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the urinary stone treatment devices and equipment market report and tap into segments with the highest growth potential.
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