Kidney Stone Retrieval Devices Market Scope 2031
The Kidney Stone Retrieval Devices Market size was estimated to be US$ 2.73 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 46.64 billion by 2031; it is estimated to record a CAGR of 5.9% in till 2031. Preference for robotic surgeries for kidney diseases are likely to remain key Kidney Stone Retrieval Devices Market trends.
Kidney Stone Retrieval Devices Market Analysis
The product launches majorly catalyze the growth of the kidney stone retrieval devices market. Companies are widely focusing on the development of devices that are used to perform minimally invasive surgical procedures. For instance, In January 2023, Boston Scientific launched the LithoVue Empower Retrieval Deployment Device in the US and Europe. The device is used for the retrieval of kidney stones through flexible ureteroscopy (URS) and is indicated for use with the LithoVue Single-Use Digital Flexible Ureteroscope and compatible nitinol retrieval basket. The device enables the simultaneous operation of a ureteroscope and basket. The technological advancements in the product simplify the procedures and help in picking up and removing the stone. Such minimally invasive procedures are widely being adopted to retrieve kidney stones from elderly people. The devices used in these procedures reduce the time required for surgery and duration of hospital stay, along with enabling speedy recovery.
Kidney Stone Retrieval Devices Market Overview
Global kidney stone retrieval devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North American region holds the largest market share of the market, whereas the Asia Pacific region is the fastest-growing region. The growth in North America is determined due to growing incidences of kidney stones across the countries, increasing healthcare expenditure for chronic kidney diseases, and rising government support by introducing guidelines to treat kidney stones. On the other hand, lack of expertise required for minimally invasive procedures is expected to hinder market growth.
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Kidney Stone Retrieval Devices Market: Strategic Insights
Market Size Value in US$ 2,541.07 Million in 2019 Market Size Value by US$ 3,653.92 Million by 2027 Growth rate CAGR of 4.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Kidney Stone Retrieval Devices Market: Strategic Insights
Market Size Value in | US$ 2,541.07 Million in 2019 |
Market Size Value by | US$ 3,653.92 Million by 2027 |
Growth rate | CAGR of 4.8% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Speak to AnalystKidney Stone Retrieval Devices Market Drivers and Opportunities
Growing Demand of Minimally Invasive Surgeries to Favor Market
Over a period of time, there has been significant growth in the prevalence of kidney diseases, leading to an increase in surgical procedures. Invasive surgical procedures have high risk factors, and patients take longer time in recovery. These procedures have a high risk of infections and a high rate of complications on a global level. To overcome the consequences associated with invasive procedures, minimally invasive procedures are preferred by healthcare professionals. Healthcare professionals are more inclined toward minimally invasive procedures due to various advantages such as shorter recovery periods, very limited to no complications, high success rates, and reduction in procedure time. In the last few years, minimally invasive surgery has become increasingly popular for treating upper urinary tract calculi. The European Association of Urology recommends both percutaneous nephrolithotomy (PCNL) and retrograde intrarenal surgery (RIRS) for stones with a diameter less than 2 cm. PCNL is the first choice for stones with a diameter greater than 2 cm. With the advancement of endoscopic instruments and minimally invasive technology, traditional PCNL has evolved into Mini-PCNL, Ultra-mini PCNL, Super-mini PCNL, Micro-pcnl, and other minimally invasive procedures. Additionally, an increase in minimally invasive procedures led to product launches and development of specialized instruments that help during the surgery. The positive outcomes of minimally invasive surgeries have increased the inclination toward minimally invasive kidney stone surgeries as market players are focused on development and launch of advanced products.
Harmonizing Guidelines for Kidney Stone Retrieval in Developing Regions– An Opportunity
Harmonizing guidelines for kidney stone retrieval procedures is expected to serve as vital opportunity for the growth of the global market players. In regions such as the Asia Pacific and the Middle East, kidney stones are removed through open/laparoscopic pyelolithotomy and ureterolithotomy procedures. Similarly, in countries such as Korea, Japan, and Turkey, endoscopic combined intrarenal surgery (ECIRS) is among the widely preferred procedures, and in pediatric cases, shock wave lithotripsy (SWL) is the standard procedure performed. However, due to factors such as lack of awareness regarding minimally invasive procedures, social, economic, and ethnic environments in Asian and Middle East countries, there is a huge difference in the clinical practice of kidney stone retrieval procedures. In a few countries of Asia Pacific, there is limited preference for procedures such as RIRS, ureteroscopy (URS), and PCNL. The advantages conferred by these procedures are likely to improve the public health and boost the market for kidney stone retrieval devices. Therefore, to increase the number of minimally invasive procedures, Urological Association of Asia has provided developed Asian guidelines for all urological domains in the continent. The guidelines were developed with the assistance of expert representatives of the American Urological Association and the European Association of Urology. Thus, the development of Asian guidelines with be lined with the standards of the American Urological Association and European Association of Urology as these are accounted as standard once. The introduction such uniform guidelines is expected to standardize the process of developing kidney retrieval devices in the coming years.
Kidney Stone Retrieval Devices Market Report Segmentation Analysis
Key segments that contributed to the derivation of the kidney stone retrieval devices Market analysis are type, treatment, and end user.
- Based on type, the kidney stone retrieval devices market is segmented into lithotripters, stone removal devices, ureteral stents, and ureterorenoscopes. The lithotripters segment held a largest market share in 2023.
- By treatment, the market is segmented into Extracorporeal Shock Wave Lithotripsy (ESWL), intracorporeal ureteroscopy, and percutaneous nephrolithotripsy. The Extracorporeal Shock Wave Lithotripsy (ESWL) segment held the largest share of the market in 2023.
- In terms of end user, the market is segmented into hospitals and clinics, specialty clinics, and ambulatory surgery centers. The hospitals and clinics segment dominated the market in 2023.
Kidney Stone Retrieval Devices Market Share Analysis by Geography
The geographic scope of the kidney stone retrieval devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America is the largest market for the kidney stone retrieval devices, with the US holding the largest market share, followed by Canada. The kidney stone retrieval devices market is expected to grow due to growing incidences of kidney stones across the countries, increasing healthcare expenditure for chronic kidney diseases, and rising government support by introducing guidelines to treat kidney stones. In addition, the growing medical tourism in Mexico, which offers kidney stone treatment at a lower price, is expected to create growth opportunities for the market’s growth. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Kidney Stone Retrieval Devices Market Report Scope
Kidney Stone Retrieval Devices Market News and Recent Developments
The kidney stone retrieval devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- In February 2023, Ethicon, a Johnson & Johnson MedTech company, announced that the first patient had undergone a robotic-assisted procedure for removal of kidney stones using the MONARCH Platform for Urology. The procedure was successfully completed by UCI Health, the clinical enterprise of the University of California, Irvine, as part of a clinical study. The MONARCH Platform for Urology was used to perform the first robotically assisted electromagnetic (EM)-guided percutaneous access and mini-percutaneous nephrolithotomy (PCNL) procedure. (Source: Johnson & Johnson, Press Release, 2023)
KIDNEY STONE RETRIEVAL DEVICES Market Report Coverage and Deliverables
The “Kidney Stone Retrieval Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Treatment ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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