Kidney Stone Retrieval Devices Market: Cost-Efficiency Analysis Kidney stone retrieval devices offer patients a safer and more efficient alternative to traditional surgical interventions, reducing recovery times as well as complications. With their precise and targeted approach, kidney stone retrieval devices ensure effective retrieval, promoting patient comfort and overall well-being. According to Inkwood Research, the global kidney stone retrieval devices market is expected to grow with a CAGR of 4.54% during the forecast period of 2023 to 2032, capturing a revenue of $3908.52 by 2032. Kidney stones may develop in either one or both kidneys, primarily affecting individuals aged 30 to 60. Moreover, the condition is relatively common, with approximately two in 20 women as well as three in 20 men experiencing their development at some point in their lives. As the prevalence of kidney stones continues to rise globally, the significance of retrieval devices in enhancing treatment outcomes is set to increase, as well.
The Value Equation – To What Degree Does Pricing Matter? With a notable spike in kidney stones and urinary system stone disease (USSD) globally, the demand for kidney stone retrieval devices among patients as well as healthcare facilities is driven by medical necessity rather than price sensitivity. As a result, buyers have limited power to influence product development or negotiate prices. In comparison, suppliers with unique or patented technologies may possess a higher negotiating power. Nevertheless, the affordability and pricing of the devices play a crucial role for buyers in the healthcare sector. While the primary emphasis continues to remain on the devices’ quality and effectiveness, purchasers may also assess the cost of the devices and consider the holistic value they provide. And on that note, let’s assess the cost-effectiveness of various kidney stone retrieval devices and how healthcare facilitates can evaluate the value these devices bring to their practices – Lithotripters stand as non-invasive, non-surgical apparatuses that utilize electromagnetic shock waves passed through a water bath to fragment kidney stones and gall bladder stones. These devices have been categorized by the US FDA as class II devices, permitting the completion of the stone removal procedure within a 30-minute timeframe. According to Inkwood research, lithotripters is expected to be the fastest-growing product in the global kidney stone retrieval devices market, owing to their numerous advantages over alternative treatment modalities. They also offer a cost-effective approach, rendering them more accessible to patients, particularly in developing nations where healthcare expenses often present a significant obstacle to treatment seeking. Under this classification, the two predominant procedures include –
Ureteroscopic (URS) Laser Lithotripsy o Ureteroscopy (URS) stands as the preferred approach for addressing small to medium-sized kidney stones situated anywhere within the urinary tract. According to a comprehensive review of studies conducted in 2018, the average expense associated with ureteroscopy in the absence of lithotripsy stands at approximately