PUBLISHER: The Business Research Company | PRODUCT CODE: 1387772
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387772
“Urinary Stone Treatment Devices And Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on urinary stone treatment devices and equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for urinary stone treatment devices and equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The urinary stone treatment devices and equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Urinary stone treatment devices and equipment are employed in the management and treatment of stones that develop in the kidneys and the urinary tract. Kidney stones typically form when substances found in urine, such as calcium, uric acid, and oxalate, crystallize.
The primary products in the urinary stone treatment devices and equipment market include extracorporeal shock wave lithotripsy devices, holmium laser devices, intracorporeal lithotripsy devices, stone retrieval devices, and ureteral stents. Holmium laser devices use pulsed laser technology emitting light at a wavelength of 2100 nm to fragment stones in the urinary tract. Various types of stones can be addressed, including calcium stones, struvite, uric acid stones, cystine stones, and those induced by medication. These devices find applications in different healthcare settings, including hospitals, ambulatory surgery centers, and other medical facilities.
The urinary stone treatment devices and equipment market research report is one of a series of new reports from The Business Research Company that provides urinary stone treatment devices and equipment market statistics, including urinary stone treatment devices (or) equipment industry global market size, regional shares, competitors with a urinary stone treatment devices and equipment market share, detailed urinary stone treatment devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the urinary stone treatment devices (or) equipment industry. This urinary stone treatment devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The urinary stone treatment devices and equipment market size has grown strongly in recent years. It will grow from $2.97 billion in 2023 to $3.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed in the historical period can be attributed to several factors, including the increasing incidence of urinary stones, an aging population, improved healthcare access, and the influence of lifestyle factors.
The urinary stone treatment devices and equipment market size is expected to see strong growth in the next few years. It will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth can be attributed to various factors, including the adoption of minimally invasive techniques, the expansion of markets in emerging regions, the implementation of personalized medicine approaches, and regulatory support. Moreover, several noteworthy trends are expected to shape the landscape during the forecast period. These trends encompass the rise of telemedicine and remote consultation services, the incorporation of advanced imaging technologies, the utilization of 3D printing and customization in treatment, and the development of non-invasive treatment options. These advancements are likely to have a significant impact on the urinary stone treatment devices and equipment market.
The escalating prevalence of kidney stones, particularly among the elderly population, is a key driver of growth in the urinary stone treatment devices and equipment market. Urolithiasis, which encompasses the formation of kidney stones, is on the rise globally. Research indicates that approximately 30% of the global population is obese, and the number of geriatric individuals is expected to surge from nearly 900 million to 1.4 billion by 2030. The incidence of kidney stones is also increasing worldwide, with an estimated prevalence that can reach up to 15%. For example, a survey by Robotic Stone found that the likelihood of stone formation is 20.1% in Saudi Arabia and 13% in the USA. Kidney stone diseases, or urolithiasis, are particularly common in the aging population. The Asia-Pacific region currently hosts more than half of the world's population aged 60 and above, and this number is projected to reach 2.45 billion by 2050.
The anticipated growth of the urinary stone treatment devices and equipment market in the future is expected to be driven by the increasing healthcare expenditure. Healthcare expenditure represents the total amount of money allocated to healthcare-related goods and services within a healthcare system or economy and has a pivotal role in facilitating the development, accessibility, and utilization of urinary stone treatment devices and equipment. For example, in November 2022, the Canadian Institute for Health Information, a US-based not-for-profit organization, reported that healthcare expenditure in 2022 had risen by 0.8%, reaching $331 billion, compared to 7.6% in 2021. As a result, the escalating healthcare expenditure is a significant factor propelling the growth of the urinary stone treatment devices and equipment market.
A significant impediment to the growth of the urinary stone treatment devices and equipment market is the lack of public awareness and adequate knowledge about the issues associated with urinary stone diseases, particularly in underdeveloped countries. This deficiency in awareness poses a substantial challenge for manufacturers of urinary stone treatment devices, as numerous cases go unnoticed and unaddressed, resulting in reduced demand for these devices. For instance, a study conducted in Saudi Arabia revealed that 44% of the participants had a family member suffering from urinary stone disease, and 9.6% had urinary stones themselves, indicating a high prevalence of the condition in the country. However, there was a prevailing lack of awareness and misconceptions among people in many parts of the region.
Companies within the industry are making substantial investments in advanced laser technology and robot-assisted surgical approaches to address urolithiasis. Urolithiasis refers to the formation of calculi or stones in the kidney, bladder, and urinary tract. Open surgeries for urolithiasis are progressively incorporating minimally invasive techniques, cutting-edge laser technology, improved surgical instruments, and robot-assisted devices to reduce hospitalization durations, minimize invasiveness, and shorten the need for bladder catheterization. For example, Boston Scientific Co. is actively investing through a collaboration with Lumenis, a company specializing in minimally-invasive clinical solutions and holmium laser technology, to harness the advantages of advanced laser technology in the treatment of urolithiasis.
Leading companies in the urinary stone treatment devices and equipment market are introducing innovative platforms like the MONARCH Platform to enhance their market revenue. The MONARCH Platform is designed to establish new treatment approaches that contribute to the improved quality of patients' lives, and it is the first flexible robotic platform approved for use in bronchoscopy and urology procedures. For example, in February 2023, Ethicon, a US-based company specializing in surgical technologies and solutions, unveiled the use of the MONARCH Platform for Urology in robotic-assisted kidney stone removal. This platform allows urologists to navigate the kidney using robotic assistance, facilitating access, clearance, and control through a handheld controller. It offers urologists a unified platform supporting both ureteroscopic and percutaneous nephrolithotomy (PCNL) procedures.
In May 2021, Imperative Care Inc., following guidelines from the Food and Drug Administration, a US-based regulator overseeing medical devices and healthcare technology, issued a recall for the Zoom 71 reperfusion Catheter. This recall was prompted by the potential risk of the catheter breaking during use, which could lead to fragmented pieces remaining inside the patient's body and causing severe injuries.
Major companies operating in the urinary stone treatment devices and equipment market include Boston Scientific Corporation Inc., Cook Medical, C.R. Bard, Direx Group, Dornier MedTech, Bard Medical Division, Richard Wolf, Siemens Healthineers AG, Olympus Corporation, Karl Storz, HealthTronics Inc., Lumenis Ltd., Storz Medical AG, Medispec Ltd., EDAP TMS S.A., Coloplast A/S, Allengers Medical Systems Ltd., Conmed Corporation, Guangzhou Potent Optotronic Technology Co., Becton Dickinson and Company, Medtronic plc, American Medical Systems, Limmer Laser GmbH, GEMSS Co. Ltd., Convergent Laser Technologies, Hobbs Medical Inc., Endo Health Solutions Inc., Medical Coaches Inc., Applied Medical Technology Inc., E.M.S. Electro Medical Systems, EMD Medical Technologies, EMS Shockwave, InnoTherapy Inc., JenaSurgical, MTS Medical, Physio Invasiva, Santronix, Siare Engineering International Group, SonaCare Medical, Sonoscape Medical Corp., Stryker Corporation
North America was the largest region in the urinary stone treatment devices and equipment market in 2023. Western Europe was the second-largest region in the urinary stone treatment devices and equipment market report. The regions covered in the urinary stone treatment devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the urinary stone treatment devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The urinary stone treatment devices and equipment market consist of sales devices such as extracorporeal shock wave lithotripsy devices, holmium laser devices, intracorporeal lithotripsy devices, stone retrieval devices, and ureteral stents. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.