What Has Been the Progress and Growth of the Lithotripsy Device Market in Recent Years?
The lithotripsy device market has seen considerable growth due to a variety of factors.
•In recent times, the market size of lithotripsy devices has seen a significant surge. The market worth is forecasted to escalate from $1.83 billion in 2024 to $1.92 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.2%.
The considerable growth recorded during the historic period can be linked to factors such as an uptick in kidney stone cases, a preference for non-invasive procedures, enhancements in medical imaging, a surge in the elderly population, and the patient's necessity for a quicker recovery.
What Can Be Expected from the Lithotripsy Device Market in the Coming Years?
The lithotripsy device market is expected to maintain its strong growth trajectory in upcoming years.
• The market for lithotripsy devices is predicted to experience significant expansion in the coming years, reaching a value of "$2.47 billion in 2029 at a 6.4% Compound Annual Growth Rate (CAGR).
This anticipated growth can be credited to numerous factors, such as advancements in lithotripsy technology, increased awareness and educational initiatives, worldwide availability of healthcare services, partnerships in the urology and nephrology sectors, and proactive strategies for kidney stone prevention. Key trends for the projection period include advancements in remote monitoring and telesurgery, ongoing investigation into stone fragmentation methods, international cooperation in lithotripsy studies, emphasis on results-driven healthcare, and the incorporation of artificial intelligence (AI).
What Are the Critical Driver Fuelling the Lithotripsy Device Market's Growth?
The increasing frequency of kidney stone cases is projected to boost the advance of the lithotripsy device market. Kidney stones are defined as stone-like masses of substance which appear in one or both kidneys when urine has excessive quantities of certain minerals. Lithotripsy devices are utilized in kidney stone removal, fracturing the stones into smaller fragments with the use of shockwaves to facilitate passage through urine. For instance, in a study of over 10,000 individuals aged 40-70 years residing in Kharameh, a journal published by the UK's BioMed Central in December 2022 revealed an Age-standardized prevalence rate (ASPR) of kidney stone at 21.11%. Additionally, ASPR approximations showed 24.13% in men and 18.7% in women in 2022. As a result, the upsurge in urolithiasis prevalence is steering the lithotripsy device market's growth.
How Is the Lithotripsy Device Market segmented?
The lithotripsy device market covered in this report is segmented –
1) By Type: Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices
2) By Applications: Kidney Stones, Ureteral Stones, Pancreatic Stones, Bile Duct Stones, Other Applications
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Extracorporeal Shock Wave Lithotripsy Devices: Electrohydraulic Lithotripsy Devices, Electromagnetic Lithotripsy Devices, Piezoelectric Lithotripsy Devices
2) By Intracorporeal Lithotripsy Devices: Laser Lithotripsy Devices, Ultrasound Lithotripsy Devices, Mechanical Lithotripsy Devices
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What New Trends Are Influencing the Lithotripsy Device Market?
Innovations in product development are becoming a significant trend in the lithotripsy device market. To solidify their market position, leading companies are focusing on the development of novel and innovative products. For instance, Shockwave Medical Inc., an American medical device corporation, introduced the Shockwave M5+ peripheral IVL catheter in March 2022, after securing clearance from the CE Mark and the U.S. Food and Drug Administration (FDA). This new peripheral catheter, designed to decrease IVL therapy time, extend therapy to those with larger vessels, and provide more options, represents a significant advancement by Shockwave. This innovation enhances the treatment efficiency and effectiveness for challenging patients, including those who were previously not candidates for IV treatment.
Who Are the Key Players in the Lithotripsy Device Market?
Major companies operating in the lithotripsy device market include:
• Boston Scientific Corporation
•Cook Medical LLC
•Shockwave Medical Inc.
•Lumenis Ltd.
•EDAP TMS S.A.
•Dornier MedTech GmbH
• Allengers Medical Systems Limited
•DirexGroup
•Medispec Ltd.
•Elmed Medical Systems Ltd.
•Convergent Laser Technologies
•MTS Medical
•NOVAmedtek LLC
•EMD Medical Technologies
•NIDHI Meditech Systems
• Olympus Scientific Solutions Americas Corporation
•Richard Wolf India Private Ltd.
•Karl Storz SE & Co. KG
•Technomed Systems Private Limited
•Shenzhen Wikkon Medical Apparatus Co. Ltd.
•Inceler Medikal Ltd. Sti
•Cliniva Healthcare
•C. R. Bard Inc.
•E.M.S. Electro Medical Systems S.A.
•MACHIDA Endoscope Co. Ltd.
•Medtronic plc
• Aymed Medical Technology Co. Ltd.
•Proteus Digital Health Inc.
What Is The Most Dominant Region In The Lithotripsy Device Market?
North America was the largest region in the lithotripsy devices market in 2024. The regions covered in the lithotripsy device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
