Kidney Stone Retrieval Devices Market: Cost-Efficiency Analysis

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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.
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• And on that note, lets 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
• 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 2,800.
  However, introducing methods like laser or
  other forms of lithotripsy could elevate this
  figure. It is essential to note that this
  base amount does not encompass supplementary
  costs, including facility charges and medical
  practitioner fees. As a result, the complete cost
  of the procedure might escalate to around
  10,000.
• Inkwood Research estimates that the
  ureterorenoscopes segment, under the product
  category, captured the highest share of 34.32 in
  2022.
• Extracorporeal Shock Wave Lithotripsy (SWL)
• Extracorporeal SWL is employed to fragment kidney
  stones into smaller pieces, facilitating their
  removal through the urinary tract. This method is
  suitable for stones ranging from 4 mm to
  2 cm in diameter. The procedures benefits
  include non-invasiveness, decreased
  complications, absence of hospitalization,
  swifter recovery, and cost-effectiveness. As a
  result of these advantages, the utilization of
  ESWL is anticipated to rise in kidney stone retrie
  val treatments.
• The extracorporeal shock wave lithotripsy
  segment is expected to dominate the
  treatment category between 2023 to
  2032.
• In a retrospective study conducted at
  Massachusetts General Hospital, it was observed
  that ureteroscopic (URS) laser lithotripsy
  achieved significantly higher stone-free rates
  compared to shock-wave lithotripsy (SWL) (89 vs.
  47). Extracorporeal SWL is initially less
  costly, but lower effectiveness translates
  into a greater need for repeat or
  ancillary procedures in

order
to
get
a
patient
stone
free.
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• Hence, while both treatment
  modalities exhibited no major
  complications, the aforementioned analysis
  indicated that URS proved to be more
  cost-effective compared to SWL under the
  following conditions
• SWL had a success rate of less than 60 to 64
• URS demonstrated a success rate of at least 57
  to 76
• Furthermore, on average, the procedure costs were
  estimated at 3,167 for SWL and 4,470 for URS.
• (This cost evaluation encompassed the surgeons
  and anesthesia fees, facility costs, and stent
  placement expenses, if applicable)
• Although it is crucial to highlight that patient
  preferences must largely influence the decision-
• making process regarding the choice of surgical
  approach, researchers also underscore that the
  selection between SWL and URS should not
  be solely driven by cost considerations.
  Accordingly, with the introduction of the
  Medicare Access and CHIP Reauthorization Act
  (MACRA), aiming to transition the United
  States healthcare system towards value-based
  reimbursement, there is an increasing
  emphasis placed on optimizing the
  cost-effective allocation of resources.
• Kidney Stone Retrieval Devices Market
  Regulatory Compliance Financial Implications
• Meeting the demands of regulatory prerequisites
  can impose substantial financial burdens on
  kidney stone retrieval device manufacturers.
  They are obligated to allocate resources
  for comprehensive testing, clinical trials, and
  meticulous documentation to validate their
  devices safety and effectiveness. Adhering
  to regulatory standards often necessitates
  additional expertise and resources, which can
  lead to escalated expenses, possibly
  impeding the expansion of the global kidney
  stone retrieval devices market.
• Conversely, on the regional front, the
  kidney stone retrieval devices market in
  Asia- Pacific boasts reduced production costs
  due to affordable labor and operational
  expenses compared to other regions. Moreover,
  sales and marketing are also cost-effective due
  to the lower workforce as well as operational
  costs. In India, this facet is supported by
  government initiatives such as the Make in
  India program, which promotes affordable
  manufacturing through subsidies.
• Likewise, regulatory pathways, particularly in
  China and India, are becoming more flexible. The
  healthcare spending is on the rise
  alongside increased insurance coverage
  and reimbursement. Aligning with this, companies
  operating in the global kidney stone retrieval
  devices market are focused on providing
  affordable procedures, predominantly with the aim
  to reduce patient discomfort post-surgery and
  significantly increase cost-efficiency.
• FAQs

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2. How do kidney stone
retrieval devices work? A
Kidney stone retrieval devices employ
advanced technologies such as baskets,
graspers, and laser systems to break down
kidney stones or extract them directly from the
urinary tract through endoscopic procedures.