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Urolithiasis Management Devices Market Size, Share, Growth & Trends 2024-2033 | Key Players & Outlook
Urolithiasis Management Devices Market Size
According to The Business Research Company's, The urolithiasis management devices market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to a rise in healthcare expenditure and investments in urological care, the aging population leading to a higher incidence of urolithiasis, expansion of healthcare infrastructure in developing regions, regulatory approvals and guidelines promoting the safety and efficacy, and sedentary lifestyles
The urolithiasis management devices market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing awareness about minimally invasive procedures, growing incidence and recurrence of urolithiasis, continued advancements in endoscopic procedures, shift towards outpatient treatments due to cost-effectiveness and reduced hospital stays, and rising patient preference for non-invasive treatment options. Major trends in the forecast period include continued innovation in device technology, emphasis on patient comfort and safety, the integration of robotics and artificial intelligence (AI) in urolithiasis management devices, and advancements in molecular diagnostics and genetic profiling.
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Market Drivers and Trends:
The rising prevalence of kidney diseases is expected to propel the growth of the urolithiasis management devices market going forward. Kidney disease, also known as renal disease or nephropathy, refers to a condition in which the kidneys are damaged and their function is impaired. The factors driving the rising prevalence of kidney diseases include increased consumption of animal proteins, a lack of physical activity, and rising obesity rates. Urolithiasis management devices enable healthcare professionals to perform precise interventions, relieve obstruction, prevent complications, and improve patient outcomes in cases of urolithiasis-related kidney issues. For instance, in June 2023, according to Kidney Research UK, a UK-based charity organization, the incidence of acute kidney injury is expected to increase from an estimated 615,000 episodes in 2022 to 637,000 by 2033. Therefore, the rising prevalence of kidney diseases is driving the growth of the urolithiasis management devices market.
Major companies operating in the urolithiasis management devices market are developing innovative, technology-based products, such as thulium fiber laser (TFL) technology-based laser machines, to gain a competitive edge in the market. Thulium Fiber Laser (TFL) technology represents an advanced laser system used in the management and treatment of urolithiasis, or urinary stones. For instance, in July 2023, Coloplast AS, a Denmark-based company engaged in urology-related medical devices and services, launched the Coloplast TFL Drive, the first laser product to grind kidney stones to dust. This innovative, all-in-one thulium fiber laser system is designed for lithotripsy, BPH (Benign prostatic hyperplasia) treatment, and precise soft tissue procedures. It delivers faster, safer treatments, offering surgical versatility and highly effective intra-operative performance using the latest Thulium Fiber Laser (TFL) technology.
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Major Key Players of the Market:
Medtronic plc, Siemens Healthineers AG, Boston Scientific Corporation, Olympus Corporation, NOVAmedtek, Coloplast Group, Rocamed SAM, DirexGroup, Cook Medical Inc., Karl Storz SE & Co. KG, C. R. Bard Inc., MTS Medical LLC, Richard Wolf GmbH, Wellspect HealthCare, Dornier MedTech GmbH, EDAP TMS, EMS Electro Medical Systems SA, Shenzhen Huikang Medical Apparatus, Storz Medical AG, Allengers Medical Systems, JenaSurgical GmbH, ELMED Medical Systems, Allium Medical Solutions Ltd., Elmed Lithotripsy Systems Inc., Inceler Medikal Co. Ltd.
Urolithiasis Management Devices Market 2024 Key Insights:
• The urolithiasis management devices market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Prevalence Of Kidney Diseases To Fuel The Urolithiasis Management Devices Market
• Exciting Technology-Based Product Launches In The Urolithiasis Management Devices Market
• North America was the largest region in the urolithiasis management devices market in 2023
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