Through the use of an ultrasonic shock wave, the lithotripsy procedure breaks kidney stones as well as stones in the gall bladder, liver, and urethra. Kidney stones develop when urine-like particles crystallize into stones or solid masses within the kidneys, obstructing the flow of urine through your body. Bleeding, excruciating urine pain, infection, and kidney damage can result from this. These stones may eventually develop. The most frequent sources of blood in the urine are kidney stones and bladder problems. Shock wave therapy is known as extracorporeal shock wave lithotripsy (ESWL), one of the most often reported forms of lithotripsy performed outside the body.
The market for lithotripsy devices in 2021 was USD 1.65 billion and will reach USD 2.68 billion by 2030 at a 5.5% CAGR during 2021-2030.
High-tech advancements and the rising prevalence of urolithiasis are the main factors boosting market growth. Stringent healthcare reforms in the US are one of the major reasons limiting the market’s growth, although an increase in emerging markets is one of the likely opportunistic regions for that expansion.
Market Dynamics
Drivers
The global geriatric population growth observed over the past few years is a significant factor boosting the market for lithotripsy devices during the forecast period. Additionally, factors like increasing government support for diagnostic procedures like X-ray and urine microscopy tests and rising levels of investment in the development of cutting-edge technology, as well as the rising prevalence of urolithiasis diseases, all contribute to the market’s overall expansion.
The market is expanding as a result of the rising number of extracorporeal shock wave lithotripsy treatments being performed. It has become a popular option for urinary stone removal because it is the most practical approach. As a result, the advantages of extracorporeal shock wave lithotripsy technology are driving up demand for lithotripsy technology and advancing the market.
Restraints
The lithotripsy procedure carries a number of dangers that are highly prevalent. Internal bleeding occasionally results from it, necessitating a blood transfusion. As a result of the obstruction in the urine flow tube caused by microscopic stone particles linked to difficulties like high blood pressure can also have adverse effects, including kidney damage.
Opportunity
The government is concentrating on research and development of the worldwide market for lithotripsy devices with significant investments and is starting policies in developing economies that can open up a lot of potential for the industry’s overall growth in the next years.
Market Segmentation
By Type, in 2020, the market was ruled by the Extracorporeal Shock Wave Lithotripsy Devices (ESWL) segment. It is a method of treating kidney and ureter stones without surgery. Adopting these non-invasive technologies promotes faster healing and provides benefits, including decreased discomfort, a shorter hospital stay, and rapid recovery. These are the main driving forces behind the market’s expansion.
By Application, with a constant CAGR, the kidney stones segment led the entire market. According to the National Kidney Foundation, two out of every five persons, or 90% of the population, do not know they have renal disease. This is because kidney stones are becoming more common, driving this market’s expansion.
By End-User, with a steady CAGR, the Hospitals segment led the market. The majority of surgical procedures are now carried out in hospitals because faster recovery times have been made possible by the use of modern surgical techniques. This is the main factor fueling the overall expansion of this market segment.
Regional Analysis
In 2020, North America held the maximum industry share. Approximately 37 million people, or one in seven, or 15% of the adult population, were predicted to have chronic renal disorders in 2020, according to the CDC. The largest percentage in the North American region is mostly due to the rise in urolithiasis-causing stone formations and the population’s higher risk of renal illness. The US Department of Health and Human Services 2021 reported that end-stage renal disease (ESRD) is a serious public health issue and a substantial cause of misery in the US.
Key Players
- Technomed Medical Systems
- ELMED™ USA Medical Systems
- Dornier MedTech
- Allengers
- SODY Medical Equipment Co. Ltd.
- NOVAMEDTEK
- Shockwave Medical Inc.
- EDAP TMS
- STORZ Medical AG
- Medispec Ltd.
- Boston Scientific Corporation
- Siemens Medical Solutions USA, Inc.
- Olympus Corporation
- Lumenis
- Direx Group
- Beijing SODY Medical Equipment Co. Ltd.
- Apex-MediTech
The market for lithotripsy devices in 2021 was USD 1.65 billion and will reach USD 2.68 billion by 2030 at a 5.5% CAGR during 2021-2030. The major factor driving the expansion of the lithotripsy device market is an increase in kidney stones. In addition, good reimbursement for lithotripsy procedures and a rise in kidney health awareness are anticipated to support the global market. Additionally, the market will increase globally due to the aging population, technological advancements, and preference for minimally invasive procedures.
