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Lithotripsy Devices Market

Lithotripsy Devices Market

Lithotripsy Devices Market Analysis by Product Type (Extracorporeal Shock Wave, Intracorporeal, Laser Lithotripsy Devices), by Application (Kidney Stones, Ureteral Stones, Pancreatic Stones), by End User, by Region - Global Insights 2021-2031

Lithotripsy Devices Market
FACT3084MR
  • Sep-2021
  • List of Tables : 40
  • List of Figures : 177
  • 170 Pages
  • Healthcare

Lithotripsy Devices Market Outlook

The lithotripsy devices market is anticipated to surpass US$ 2 Billion by 2031- trailing at a CAGR of over 5%. The market is largely driven by the increased prevalence of urolithiasis, an increase in the number of extracorporeal shock waves lithotripsy operations, technical developments, and rising awareness.

Lithotripsy Devices Consumption Analysis 2016-2020 Vs Future Outlook 2021-2031?

As per Fact.MR- a market research and competitive intelligence provider- sales of lithotripsy devices expanded at approximately 4% CAGR from 2016 to 2020.

Lithotripsy is a popular procedure for treating kidney stones, owing to its relative safety, low cost, shorter recovery time, and favourable patient results. As a result, all of these variables are responsible for the market's expansion. From 2021 to 2031, sales are expected to grow at around 5% CAGR.

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How is Rising Prevalence of Kidney Stones Driving Market Expansion?

Globally, the recurrence and prevalence of kidney stone disorders are rising. There are fewer possibilities for developing effective medicines to treat the illness. Urolithiasis is predicted to impact 12% of the world's population at some point in their lives.

According to the European Association of Urology and the National Kidney Foundation in 2019, the prevalence of this illness has been reported to be more than 10% in nations with high standards of living such as the United States, Canada, and Sweden. Furthermore, a fast-paced lifestyle and poor eating habits may raise the risk of kidney stones.

Why the Preference for Minimally Invasive Stone Removal Procedures?

Minimally invasive surgical (MIS) methods have been rapidly adopted by surgeons for a wide range of applications. Frequent episodes of surgical anomalies such as embolisms or trauma are prompting patients to seek this alternative.

The widespread use of minimally invasive methods in general surgery, as well as their lower risk of complications as compared to open surgical procedures, is expected to fuel the need for lithotripsy equipment. Approaches such as laser surgeries are becoming prevalent, which are expected to heighten prospects for the market.

Documented Side Effects of Shock Wave Lithotripsy to Stifle Market Growth?

Rising prevalence of stone illnesses have undoubtedly led to increased adoption of lithotripsy. However, some obstacles are impeding the widespread acceptance of this therapy.

A primary issue are the adverse effects associated with shock wave lithotripsy. According to the American Journal of Kidney Diseases, shock wave lithotripsy may cause decreased renal function and stone recurrence. These obstacles are anticipated to stymie market expansion throughout the forecast period.

What is the Role of Advanced R&D in Widening Lithotripsy Devices Demand?

The advent of innovative procedures and equipment in the treatment of stone disease is ground-breaking for both healthcare practitioners and patients.

Miniature surgery, holmium laser technology, and disposable ureteroscopes are among the new breakthroughs. Furthermore, MOSES is a novel device that is user-friendly and assists doctors in rupturing stones without harming surrounding tissues and with minimal bleeding.

Country Wise Analysis

Why is the U.S a Magnet for the Market for Lithotripsy Devices?

Sales of lithotripsy devices in the U.S are expected to proliferate over the forecast period, documenting a CAGR of around 5% until 2031.

According to the Centres for Disease Control and Prevention, around 37 million people, or one out of every seven, or 15% of the adult population, were expected to have chronic renal disease in 2019.

With the rising prevalence of renal illness, over 50,000 lithotripsy operations are performed in the United States each year, propelling the market for lithotripsy devices.

How Lucrative is the Market in the U.K for Lithotripsy Devices?

Increased prevalence of prostate cancer, kidney damage, and incontinence, is prompting patients to opt for advanced treatment options in the United Kingdom. Other diseases include bladder cancer, testicular cancer, kidney stones, interstitial cystitis, and urinary tract infections.

Prostate cancer accounts for 24% of all new cancers in males in the United Kingdom. Bladder infections kill 5,300 individuals in the United Kingdom each year. All of these factors are likely to fuel market expansion in the future years. A revenue share of nearly 30% is projected for the U.K market.

How Profitable is the Lithotripsy Devices Market in Asia?

Asia is the fastest growing market and is projected to continue to develop as a result of a rising population with considerable unmet medical needs and a rapid economic growth. Countries such as India, China and Japan are likely to be the frontrunners of global demand.

High frequency of Urinary Tract Infection (UTI) and Benign Prostatic Hyperplasia (BPH) has boosted demand for cutting-edge lithotripsy technologies. In addition, there has been a greater emphasis on replacing and updating hospital infrastructure, which will result in increasing usage of lithotripsy equipment in the coming years.

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Category Wise Analysis

Why are Extracorporeal Shock Wave Lithotripsy (ESWL) Devices Gaining Ground?

Extracorporeal shock wave lithotripsy is a non-surgical method for treating kidney and ureter stones. According to Fact.MR, the segment is likely to account for 40% of the global revenue.

This technique has been used by clinicians all over the world and is likely to gain traction in the future years because of the benefits it provides, such as low invasiveness, reduced discomfort, shorter hospital stays, and faster recovery time.

Which is the Dominant End User of Lithotripsy Devices?

Hospitals account for bulk of the demand for lithotripsy devices. Increasing frequency of hospital visits to address kidney and gall bladder stones are spurring demand. A revenue share of over 50% is estimated for this segment.

However, specialised clinics are expected to expand the most throughout the predicted period. Fact.MR expects their growth to be valued at a CAGR of 5% through 2031.

Competitive Landscape

The lithotripsy device market has been shown to be competitive. EDAP TMS, Boston Scientific Corporation, Olympus Corporation, Accuron, and DirexGroup are among the main industry participants in lithotripsy devices.

Certain strategic efforts, such as mergers, new product launches, acquisitions, and collaborations, are being implemented by the corporations to assist them enhance their market positions.

In addition, businesses are concentrating on expanding the applications of lithotripsy devices in order to improve their positions during the forecast period.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Key Regions Covered

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Market Segments Covered

  • U.S
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Brazil
  • Mexico
  • China
  • India
  • ASEAN
  • Australia
  • GCC
  • South Africa
Key Market Segments Covered
  • Product Type
  • Application
  • End User
  • Region

Key Companies Profiled

 

  • EDAP TMS
  • Boston Scientific Corporation
  • Olympus Corporation
  • Accuron
  • DirexGroup
  • Siemens AG
  • Dornier MedTech
  • STORZ Medical
Customization & Pricing

Available upon Request

Market Segmentation

  • Product Type

    • Extracorporeal Shock Wave Lithotripsy Devices
    • Intracorporeal Lithotripsy Devices
    • Laser Lithotripsy Devices
    • Electrohydraulic Lithotripsy Devices
    • Ultrasonic Lithotripsy Devices
    • Mechanical Lithotripsy Devices
  • Application

    • Lithotripsy Devices for Kidney Stones
    • Lithotripsy Devices for Ureteral Stones
    • Lithotripsy Devices for Pancreatic Stones
    • Lithotripsy Devices for Bile Duct Stones
  • End User

    • Hospitals
    • Ambulatory Surgical Centers
    • Other End Users

- FAQs -

As of 2020, lithotripsy device sales amounted to around US$ 1.5 Bn

Between 2016 and 2020, demand for lithotripsy devices expanded at over 4% CAGR

According to Fact.MR, lithotripsy devices sales are expected to surpass US$ 2 Bn, expanding at over 5% CAGR until 2031

Growing prevalence of urolithiasis, a growth in the number of extracorporeal shock waves lithotripsy procedures, technological advancements, and greater awareness are driving demand

The market for lithotripsy devices in the U.S is likely to grow at approximately 5% CAGR through 2031

India, China and Japan are expected to emerge as the primary consumers of lithotripsy devices across Asia

The U.K is expected to yield nearly 30% of the global lithotripsy devices revenue until 2031

Extracorporeal Shockwave Lithotripsy Devices (ESLD) are likely to remain top selling, generating 2/5th of total revenue

Hospitals will remain primary lithotripsy devices end user, generating 50% revenue

EDAP TMS, Boston Scientific Corporation, Olympus Corporation, Accuron and Siemens AG are some prominent lithotripsy devices manufacturers

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