Executive Summary

The global lithotripsy devices market is expected to grow significantly in the coming years due to an increase in the prevalence of kidney stones, gallstones, and other urological disorders. The market is expected to be driven by factors such as increasing healthcare spending, technological advancements, and the rise in the geriatric population. However, high costs associated with lithotripsy procedures and the availability of alternative treatments may hinder the growth of the market to some extent.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global lithotripsy devices market is expected to grow significantly in the coming years due to an increase in the prevalence of kidney stones, gallstones, and other urological disorders.
• The market is expected to be driven by factors such as increasing healthcare spending, technological advancements, and the rise in the geriatric population.
• High costs associated with lithotripsy procedures and the availability of alternative treatments may hinder the growth of the market to some extent.

Market Analysis

The global lithotripsy devices market is expected to grow significantly in the coming years due to an increase in the prevalence of kidney stones, gallstones, and other urological disorders. The market is expected to be driven by factors such as increasing healthcare spending, technological advancements, and the rise in the geriatric population.

According to a report by Grand View Research, the global lithotripsy devices market was valued at USD 876.1 million in 2020 and is expected to grow at a CAGR of 4.9% from 2021 to 2028.

Market Drivers

1. Increasing Prevalence of Kidney Stones and Other Urological Disorders

The prevalence of kidney stones and other urological disorders is increasing globally, which is expected to drive the demand for lithotripsy devices. According to a study by NCBI, the lifetime risk of developing kidney stones is approximately 10-15% in men and 5-10% in women.

2. Technological Advancements

The development of advanced lithotripsy devices such as extracorporeal shock wave lithotripsy (ESWL), intracorporeal lithotripsy, and laser lithotripsy is expected to drive the growth of the market. These devices are more effective, less invasive, and have a higher success rate compared to traditional lithotripsy devices.

3. Rise in the Geriatric Population

The geriatric population is at a higher risk of developing kidney stones and other urological disorders, which is expected to drive the demand for lithotripsy devices. According to a report by the United Nations, the number of people aged 65 and above is expected to increase from 703 million in 2019 to 1.5 billion in 2050.

4. Increasing Healthcare Spending

Increasing healthcare spending in developing countries is expected to drive the demand for lithotripsy devices. According to a report by the World Health Organization (WHO), global healthcare spending is expected to increase from USD 7.8 trillion in 2020 to USD 15.0 trillion by 2040.

Market Restraints

1. High Costs Associated with Lithotripsy Procedures

The high costs associated with lithotripsy procedures may hinder the growth of the market to some extent. The cost of lithotripsy procedures varies depending on the type of device used and the location of the healthcare facility.

2. Availability of Alternative Treatments

The availability of alternative treatments such as medication and surgery may also hinder the growth of the market. Some patients may prefer these treatments over lithotripsy due to their lower cost and perceived safety.

Market Opportunities

1. Emerging Markets

Emerging markets such as Asia-Pacific and Latin America present significant growth opportunities for the lithotripsy devices market. The increasing geriatric population and rising healthcare spending in these regions are expected to drive the demand for lithotripsy devices.

2. Technological Advancements

The development of advanced lithotripsy devices such as ESWL, intracorporeal lithotripsy, and laser lithotripsy is expected to create new growth opportunities for the market. These devices offer higher success rates, faster recovery times, and fewer complications compared to traditional lithotripsy devices.

Market Dynamics

1. Market Trends

• The development of miniaturized lithotripsy devices that can be used in office settings is a growing trend in the market.
• The increasing use of lithotripsy devices in the treatment of salivary stones and pancreatic stones is also a trend in the market.

2. Market Challenges

• The availability of alternative treatments such as medication and surgery is a major challenge for the market.
• The high costs associated with lithotripsy procedures may also hinder the growth of the market to some extent.

Regional Analysis

1. North America

North America is the largest market for lithotripsy devices, accounting for the majority of the global market share. The market in this region is driven by factors such as the high prevalence of kidney stones and other urological disorders, technological advancements, and the presence of key market players.

2. Europe

Europe is the second-largest market for lithotripsy devices, driven by factors such as the increasing geriatric population and the rise in healthcare spending.

3. Asia-Pacific

The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period, driven by factors such as the increasing prevalence of kidney stones and other urological disorders, rising healthcare spending, and the presence of a large patient pool.

Competitive Landscape

Leading companies in the Lithotripsy Devices Market:

1. Boston Scientific Corporation
2. Olympus Corporation
3. Siemens Healthineers AG
4. EDAP TMS S.A.
5. Medispec Ltd.
6. DirexGroup
7. Lumenis Ltd.
8. Novamedtek
9. Richard Wolf GmbH
10. COOK Medical Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global lithotripsy devices market can be segmented on the basis of product type, end-user, and geography.

1. By Product Type

• Extracorporeal Shock Wave Lithotripsy (ESWL)
• Intracorporeal Lithotripsy
• Laser Lithotripsy

2. By End-User

• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Clinics

3. By Geography

• North America
  • United States
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of Middle East & Africa

Category-wise Insights

1. Extracorporeal Shock Wave Lithotripsy (ESWL)

Extracorporeal shock wave lithotripsy is the most commonly used type of lithotripsy device. It uses shock waves to break down stones in the urinary tract, which are then passed out of the body through the urine. This type of device is preferred due to its non-invasive nature and lower cost compared to other types of lithotripsy devices.

2. Intracorporeal Lithotripsy

Intracorporeal lithotripsy involves the use of a device that is inserted directly into the urinary tract to break down stones. This type of device is preferred for larger stones that cannot be treated using ESWL.

3. Laser Lithotripsy

Laser lithotripsy uses a laser to break down stones in the urinary tract. This type of device is preferred for smaller stones that cannot be treated using ESWL and for patients who cannot undergo surgery.

Key Benefits for Industry Participants and Stakeholders

1. Increased Revenue

The growing demand for lithotripsy devices is expected to increase revenue for industry participants and stakeholders.

2. Technological Advancements

The development of advanced lithotripsy devices is expected to create new growth opportunities for industry participants and stakeholders.

3. Increased Market Share

Industry participants and stakeholders with a strong presence in the market are expected to increase their market share as the demand for lithotripsy devices grows.

SWOT Analysis

1. Strengths

• Growing demand for lithotripsy devices due to an increase in the prevalence of kidney stones and other urological disorders.
• Technological advancements in lithotripsy devices.

2. Weaknesses

• High costs associated with lithotripsy procedures.
• Availability of alternative treatments such as medication and surgery.

3. Opportunities

• Emerging markets such as Asia-Pacific and Latin America.
• Technological advancements in lithotripsy devices.

4. Threats

• Competition from alternative treatments such as medication and surgery.
• Stringent regulations and approvals for medical devices.

Market Key Trends

1. Development of Miniaturized Lithotripsy Devices

The development of miniaturized lithotripsy devices that can be used in office settings is a growing trend in the market. These devices offer a lower cost and more convenient option for patients.

2. Use of Lithotripsy Devices in the Treatment of Salivary Stones and Pancreatic Stones

The increasing use of lithotripsy devices in the treatment of salivary stones and pancreatic stones is also a trend in the market. This expands the potential market for lithotripsy devices beyond urological disorders.

Covid-19 Impact

The Covid-19 pandemic has had a negative impact on the lithotripsy devices market. The pandemic has disrupted supply chains and led to a reduction in elective surgeries, which has affected the demand for lithotripsy devices. However, the market is expected to recover as the pandemic subsides and elective surgeries resume.

Key Industry Developments

1. Boston Scientific Acquires NxThera

In 2018, Boston Scientific Corporation acquired NxThera, a company that develops and markets a minimally invasive treatment for patients with prostate conditions, including benign prostatic hyperplasia (BPH).

2. Siemens Healthineers Acquires Corindus

In 2019, Siemens Healthineers AG acquired Corindus Vascular Robotics, a company that develops robotic-assisted systems for the treatment of cardiovascular diseases.

Analyst Suggestions

1. Focus on Technological Advancements

Industry participants and stakeholders should focus on developing advanced lithotripsy devices to stay ahead of the competition and meet the growing demand for these devices.

2. Expand Market Presence

Industry participants and stakeholders should explore opportunities in emerging markets such as Asia-Pacific and Latin America to expand their market presence.

Future Outlook

The global lithotripsy devices market is expected to grow significantly in the coming years due to an increase in the prevalence of kidney stones, gallstones, and other urological disorders. The market is expected to be driven by factors such as increasing healthcare spending, technological advancements, and the rise in the geriatric population.

Conclusion

The lithotripsy devices market is expected to grow significantly in the coming years, driven by an increase in the prevalence of kidney stones, gallstones, and other urological disorders. The market is also expected to be driven by factors such as increasing healthcare spending, technological advancements, and the rise in the geriatric population. However, high costs associated with lithotripsy procedures and the availability of alternative treatments may hinder the growth of the market to some extent. Industry participants and stakeholders should focus on developing advanced lithotripsy devices and expanding their market presence in emerging markets to stay ahead of the competition and meet the growing demand for these devices.

With the emergence of miniaturized lithotripsy devices that can be used in office settings, the market is expected to see a new growth opportunity. This development offers a lower cost and more convenient option for patients, expanding the potential market for lithotripsy devices beyond urological disorders.