Stone Removal Basket Market to Grow with a CAGR of 4.28 % through 2028
High incidence of nephrolithiasis is expected to
drive the Global Stone Removal Basket Market growth in the forecast period,
2024-2028.
According to
TechSci Research report, “Stone Removal Basket Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Stone Removal Basket Market stood at USD 610.02 million in 2022 and
is anticipated to grow with a CAGR of 4.28% in the forecast period, 2024-2028.
This growth can be attributed to the high incidence of nephrolithiasis, the
growing demand for minimally invasive procedures, and technological
advancements. Elderly people are at a higher risk of getting affected by
nephrolithiasis. The surge in the geriatric population globally further creates
opportunities for the market. Globally, a significant number of people suffer
from nephrolithiasis. The rise in
obesity rates, unhealthy eating habits, and a lack of exercise are some major
factors contributing to the disease burden of nephrolithiasis. A significant
number of people leading an unhealthy lifestyle worldwide is expected to
increase the burden of nephrolithiasis and support the market growth of stone
removal baskets.
There
is a wide adoption of minimally invasive procedures in hospitals; moreover,
patients usually prefer minimally invasive procedures as they lead to faster
healing of the wounds. Kidney stone removal surgery is a minimally invasive
surgery. Moreover, there are also a significant number of health insurance
plans that provide coverage for kidney stone removal surgery. The high demand
for minimally invasive procedures and reimbursement for this type of surgery is
expected to promote the market for stone removal baskets.
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For instance,
according to research published by the National Institute of Health in 2021,
over 12% of the world's population suffers from nephrolithiasis. In addition, patients frequently choose minimally
invasive procedures because they promote quicker wound healing. Minimally
invasive procedures are widely used in hospitals. A minimally invasive
procedure is the removal of kidney stones. Furthermore, many health insurance
plans also cover surgery to remove kidney stones. It is anticipated that the
market for stone removal baskets will be boosted by the growing demand for
minimally invasive techniques and reimbursement for this kind of surgery. The burden of nephrolithiasis disease is largely
influenced by the rise in obesity rates, unhealthful eating patterns, and a lack
of exercise. Therefore, the burden of nephrolithiasis is anticipated to rise
due to the considerable population of people living unhealthy lifestyles, which
would also help the market for stone removal baskets develop. A high number of people on the waiting list for
surgeries is expected to improve the surgeries in the post-pandemic period and
thus support the market growth in this period.
However,
adverse effects of lithotripsy shockwaves on patients are anticipated to hamper
the market growth of Stone Retrieval Basket Market. Nonetheless, beneficial
government initiatives and increase in number of research partnership by key
market players are expected to invent more efficient device which will expected
to generate huge market in the coming year.
The Global Stone
Removal Basket Market is segmented into Type, Shape,
Tip, End User, regional distribution, and company.
Based on Type,
the Nitinol Stone Retrieval Basket segment has emerged as the predominant
market leader, the segment will continue to grow at a significant rate during
the forecast period. The nitinol stone retrieval basket segment led the market
with the highest revenue share in 2022. In stone removal surgeries, it is
essential to navigate in particular areas without causing any discomfort to the
patient. Nitinol stone retrieval baskets are flexible and can also endure high
amounts of strain. These baskets are much safer and less damaging as compared
to other baskets. These baskets also effectively lead to the fragmentation and
extraction of the stone. These factors are supporting the demand for nitinol
stone retrieval baskets in the market.
Based on End
User, Hospitals segment is expected to grow during the forecast period. This
segment's growth is mostly due to an increase in the number of patients
suffering from various urological diseases, which has resulted in an increase
in surgical treatments. Hospitals see a substantially higher inflow of patients
for urological procedures or other treatments than other healthcare settings,
owing to the simplicity of managing any emergencies that may develop during
surgical procedures and the availability of a wide range of treatment
alternatives. As a result, the hospital segment is likely to be driven by the
aforementioned variables.
Major companies
operating in Global Stone Removal Basket Market are:
- Boston Scientific
Corporation.
- Advin BV.
- Medi-Globe GmbH.
- Clinovia Healthcare
Services Ltd.
- UROMED Kurt Drews
KG.
- Coloplast Corp.
- MED-Fibers, Inc.
- Becton Dickinson
& Co.
- Dornier MedTech.
- Olympus Corp
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“The developed
healthcare infrastructure in North America, increasing burden of chronic kidney
disease (CKD) and along with the ageing population in region are the major
factors supporting the regional market growth. In
addition, the increasing healthcare expenditure by governments, favorable
reimbursements for the renal surgeries along with a surge in disposable
incomes, has further promoted the growth of the regional market. Market players are undertaking various strategic
initiatives such as the launch of new product partnerships, collaborations,
mergers and acquisitions aiming to strengthen their product portfolio, and
provide a competitive advantage. The
adoption of similar initiatives by the market players are supporting the growth
of the market.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Stone Removal Basket Market By Type
(Nitinol Stone Retrieval Basket, Stainless Steel Stone Retrieval Basket), By Shape
(Spherical, Paired Wire, Helical), By Tip (Tipples, With Tip), By End
User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Stone Removal Basket Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Stone Removal Basket Market.
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