Kidney Stone Retrieval Devices Market (2024-2033)- Industry Share, Growth, Price And Trends Forecast Report

"The Business Research Company recently released a comprehensive report on the Global Kidney Stone Retrieval Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The kidney stone retrieval devices market size has grown strongly in recent years. It will grow from $2.74 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to prevalence of kidney stones, aging population, high incidence of urological disorders, patient preference for minimally invasive procedures.

The kidney stone retrieval devices market size is expected to see strong growth in the next few years. It will grow to $3.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing global healthcare expenditure, rising awareness and diagnosis rates, preference for outpatient procedures, integration of robotics in urological procedures. Major trends in the forecast period include development of single-use stone retrieval baskets, enhanced navigation and steerable devices, emphasis on patient comfort and safety, customization for pediatric applications.

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Market Drivers and Trends:

The high prevalence of chronic kidney diseases is expected to propel the growth of the kidney stone retrieval device market going forward. Chronic kidney diseases refer to a diverse range of conditions that affect the structure and operation of the kidneys. Poor diet, sedentary behavior, obesity, smoking, and excessive alcohol use all contribute to the growth of renal problems. Kidney stone retrieval devices are used to remove stones from the urinary tract. For instance, in February 2023, according to the Australian Institute of Health and Welfare, an Australia-based national health agency, between 2020 and 2021, the number of hospitalizations with chronic kidney disease as the primary diagnosis (excluding dialysis) went from 197 to 205 per 100,000 people. Further, the number of people receiving kidney replacement therapy increased from 94 in 2019 to 95 in 2021 per 100,000 people. Therefore, the high prevalence of chronic kidney disease is driving the growth of the kidney stone retrieval device market.

Major companies operating in kidney stone retrieval device market are developing robotic-assisted system to increase their profitability in the market. A robotic-assisted system in kidney stone retrieval device refers to the use of robotic technology to aid and enhance the process of removing kidney stones from the patient's urinary system. For instance, in February 2023, Ethicon Inc., a US-based medtech company, subsidiary of Johnson & Johnson developed MONARCH platform. The MONARCH platform, the first flexible robotic system cleared for bronchoscopy and urology procedures, enables precise kidney access for urologists. Introduced at UCI Health, it aims to improve outcomes through a clinical study showcasing enhanced navigation and control in mini-PCNL procedures. This product has FDA clearance and potential benefits including achieving stone-free patients in one procedure, the platform minimizes radiation exposure by 80%, offering a safer and efficient approach to kidney stone removal.

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Major Key Players of the Market:

Siemens Healthineers AG, Becton Dickinson and Company, Stryker Corporation, Quanta System, Boston Scientific Corporation, Olympus Corporation, C.R. Bard Inc., Coloplast Corp., Cook Medical LLC, Renishaw plc, Lumenis, Richard Wolf GmbH, Pentax Medical, Dornier MedTech GmbH, EDAP TMS, Shenzhen Huikang Medical Apparatus Co. Ltd., Storz Medical AG, Allengers Medical Systems Limited, DirexGroup, Medispec Ltd., Convergent Laser Technologies, TaeWoong Medical Co. Ltd.,NOVAmedtek, Pro-Med (Pro-Med Instruments), Walz Elektronik GmbH, Elmed Medical Systems Inc, Inceler Medikal, Karl Storz SE & Co. KG.

Kidney Stone Retrieval Devices Market 2024 Key Insights:

• The kidney stone retrieval devices market size is expected to see strong growth in the next few years. It will grow to $3.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Chronic Kidney Diseases Fueling Kidney Stone Retrieval Device Growth
• Robotic-Assisted Systems Revolutionize Kidney Stone Retrieval
• North America was the largest region in the kidney stone retrieval devices market in 2023

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The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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LinkedIn: https://in.linkedin.com/company/the-business-research-company
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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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