Lithotripsy Devices Market

Global Lithotripsy Devices Market Size (2023 to 2028)

The global lithotripsy devices market is expected to grow at a CAGR of 5.68% from 2023 to 2028. The global market size is estimated to reach USD 2.91 billion by 2028 from USD 2.2 billion in 2023.

A non-invasive medical procedure that removes stones without surgery is called lithotripsy. The procedure targets the stones that may be seen on ultrasound and X-ray scans by delivering high-intensity shock waves and ultrasonic energy waves into the body. The equipment used in the medical technique of lithotripsy is called a lithotripsy device. The process known as lithotripsy is used to treat kidney stones and stones found in the liver or other organs of the body. Usually, kidney stones are cleared by urine, but occasionally this is not feasible with big stones and may result in urethral hemorrhage. In these situations, the large kidney stones are broken up into smaller fragments utilizing sound waves by the lithotripsy instruments. The extracorporeal lithotripsy technique is the one that is used the most frequently. Therefore, devices for medical procedures are essential in the healthcare sector. 

Impact of COVID-19 on the lithotripsy devices market:

Throughout COVID-19, various sectors of the world have been dealing with several severe issues due to the epidemic. Businesses lost a lot of money due to the pandemic's disruption of supply and demand networks, which led to lockdown limitations. Due to an increase in cases and patients, as well as a shortage of beds, medical supplies, and healthcare personnel to care for the patients, the healthcare sector was most negatively impacted. As a result, the focus was switched to COVID-19 patients, and the less urgent procedures and medical exams were postponed.

Because anaesthesiologists who treat urological patients and perform elective procedures were required to care for covid patients, they could not care for the patients of urology, resulting in the pandemic having a negative impact on the market for lithotripsy equipment. To make room for the covid patients, fewer urology patient beds were available in the hospitals. The lack of adequate treatment for urology patients was caused by the urology staff's complete dedication to the COVID patients. Therefore, when the number of experts and procedures decreased, the use of lithotripsy equipment decreased. As a result, the market for lithotripsy devices has suffered a consequence of Covid-19.

MARKET DRIVERS:

The growth of the global lithotripsy devices market is primarily driven by the increase in the incidence of urolithiasis, extracorporeal lithotripsy's popularity for treating urethral stones due to its relative safety and treatment success rate, rising government support for diagnostic testing such as urinal microscopy tests and x-ray, partnerships and collaborations to launch new services, an increase in the number of technological advancements in the field, and extracorporeal shock waves lithotripsy along with the rise in the cases of end-stage renal failure. 

The efficiency of procedures like extracorporeal lithotripsy is expected to help the market grow. Even though extracorporeal lithotripsy is ineffective for treating all kinds of kidney stones, it is the most widely used method for eliminating kidney stones. It is still accessible, somewhat cost-effective, and safe. Additionally, intracorporeal lithotripsy has a reasonable success rate for treating ureteral stones and can cure all kidney stones.

The lithotripsy devices market is further anticipated to grow owing to the growing disposable incomes and the demand for better healthcare services in developing regions. In addition, the ever-increasing healthcare expenditure due to health problems resulting from sedentary lifestyles pushes the market's revenue further. Moreover, the market is expected to bounce back after the pandemic due to resuming the treatment for urological problems.

MARKET RESTRAINTS:

Factors such as lack of innovation and the hazards associated with lithotripsy therapy are inhibiting the growth rate of the lithotripsy devices market. Furthermore, the expansion of the market is constrained by the introduction of alternative procedures such as percutaneous nephrolithotomy. The methods may result in dangers like kidney damage, urinal obstruction, high blood pressure, etc. Additionally, lithotripsy can occasionally cause diabetes, hypertension, and others. 

The global lithotripsy devices market has been segmented by product type, application, end-user, and region.

Lithotripsy Devices Market - By Product Type:

• Extracorporeal Shock Wave Lithotripsy Devices (ESWL)
• Intracorporeal Shock Wave Lithotripsy Devices (ISWL)

Based on the product type, the ESWL devices segment accounted for the most significant share of the global lithotripsy devices market in 2022. In-invasive, quick, and secure treatment and is most frequently utilized. In the urology department, it is well-liked. Throughout the forecast period, ESWL devices are anticipated to maintain market dominance due to their accessibility, results, accuracy, and reliability. 

Lithotripsy Devices Market - By End-user:

• Ambulatory Surgical Centers
• Hospitals
• Others

Based on the end-user, the hospitals segment registered a significant share of the lithotripsy devices market in 2022. Hospitals provide the most extensive contribution to the market because they employ the most lithotripsy equipment during operations and treatments. In addition, hospitals are the most reliable healthcare space and have continuous patient traffic. Furthermore, hospital infrastructures have high budgets and vast connections; therefore, they can afford to buy and maintain the lithotripsy devices helping them dominate the market.

Lithotripsy Devices Market - By Application:

• Kidney Stones
• Pancreatic Stones
• Urethral Stones
• Bile Duct Stones

Based on the application, the kidney stones segment held the largest market share in 2022, and this segment's domination is estimated to continue throughout the forecast period. This dominance is due to the variety of kidney problems and the need for treatment anticipated to keep driving the market during the forecast period.

Lithotripsy Devises Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, the North American region accounted for the highest share of the global market in 2022. During the forecast period, the North American region is also anticipated to continue the leading position. The growth of the North American market is attributed to the existence of multiple significant players in this field, the global increase in chronic renal disorders, the high frequency of kidney stones in this region, and the high number of surgeries carried out annually. For instance, over 50,000 lithotripsy procedures are carried out in the United States annually. In addition, the prevalence of urological conditions in the region and the availability of high-end technology are expected to promote market growth.

The market is expected to show significant growth in Europe with countries like the U.K., Germany, and Italy. On the other hand, the market in the Asia Pacific is expected to grow continuously due to Growing healthcare spending, unmet medical requirements, an expanding population, sophisticated technology combined with an increasing number of operations performed, the incidence of urolithiasis, and an increase in extracorporeal shock wave lithotripsy treatments, are all contributing factors in countries like India, China, Japan, and South Korea.

KEY MARKET PLAYERS:

EDAP TMS, Electro Medical Systems SA (Boston Scientific Corporation), Olympus Americas, Dornier MedTech, Becton, Dickinson, and Company, Storz Medical AG, Cook Medical LLC, Walz Elektronik GmbH, Novamedtek, Elmed Medical Systems, Karl Storz SE & Co. KG, Siemens Healthineers AG, Richard Wolf GmbH, DirexGroup, and Lumenis are a few of the notable players in the global lithotripsy devices market.

RECENT DEVELOPMENTS:

• In September 2022, Advanced MedTech Holdings (AMTH or the Group), a world leader in integrated urology and shock wave treatment equipment, announced the purchase of a controlling stake in WIKKON. By the end of 2022, AMTH plans to buy all of WIKKON's outstanding shares. WIKKON is a company that develops and produces products to treat urological and orthopedic diseases such as kidney stones, erectile dysfunction, and joint, muscle, or tissue discomfort. It is based in Shenzhen, a tech area often known as China's Silicon Valley. 
• In March 2022, a study in the Journal of Urology details the first 19 patients who received treatment utilizing a novel non-invasive technique to dissolve kidney stones using sound waves. The technique, known as burst wave lithotripsy (BWL), successfully fractured most kidney stones, offering patients with this frequent ailment a non-surgical alternative to current surgical options. Kidney stones can occur in up to 15% of persons at some time in their lives. Although it is common for tiny stones to pass on their own and without treatment in many circumstances, some people need surgery to prevent long-term renal damage.