Lithotripsy Device Market (Product: Intracorporeal Lithotripsy and Extracorporeal Lithotripsy; Application: Kidney Stones, Biliary Duct Stones, and Others) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

According to Nova one advisor, the global Lithotripsy Device market size was exhibited at USD 998.7 million in 2022 and is projected to hit around USD 2.9 billion by 2032, growing at a CAGR of 4.70% during the forecast period 2023 to 2032.

Lithotripsy is a non-invasive procedure utilized to break stones present in various organs such as kidneys, liver or gallbladder, and pancreas. Lithotripsy comprises products such as intracorporeal and extracorporeal lithotripter. Intracorporeal lithotripsy is used for the treatment of urolithiasis and the removal of urinary calculi. Similarly, mechanical lithotripters are utilized to remove relatively large bile duct stones, while electrohydraulic lithotripters are used to remove biliary and renal calculi. Ultrasonic lithotripsy employs high-frequency vibration of metal transducers for stone fragmentation. It is the standard method for intracorporeal lithotripsy, as it provides fine and better fragmentation of urinary tract stones. Extracorporeal shock wave lithotripsy (ESWL) is employed for the fragmentation of kidney stones. Kidney stones are broken down into small crystals with the help of a high-energy shock wave. Additionally, ESWL has been developed for the treatment of biliary or pancreatic stone, urethral stones, and upper urinary tract stone diseases; however, it is rarely used for gallbladder stones.

Report Scope of the Lithotripsy Device Market

COVID-19 Impact on Lithotripsy Device Market

The COVID-19 pandemic had a negative impact on the global lithotripsy device market revenue. Governments of affected countries postponed non-essential surgeries and patient visits during the breakout year of COVID-19. Hospital personnel and medical staff were reassigned to COVID-19 cases, prompting the suspension of outpatient visits for kidney stone treatment. This led to a substantial decline in overall kidney stone treatments and surgery, which in turn hampered the global lithotripsy device market. Key players reported lower revenue due to the pandemic, which led to a decline in Y-o-Y market share in the global lithotripsy device market. However, the market has recovered from COVID-19 due to the easing of restrictions by governments across the globe.

Increase in Inclination Toward Minimally Invasive Procedure Driving Extracorporeal Lithotripsy Segment

In terms of product, the lithotripsy device market has been bifurcated into intracorporeal lithotripsy and extracorporeal lithotripsy. The intracorporeal lithotripsy segment has been classified into mechanical lithotripsy, electrohydraulic lithotripsy, laser lithotripsy, ultrasonic lithotripsy, and others. The extracorporeal lithotripsy segment dominated the market in 2021 due to rise in prevalence of kidney stones. Increase in demand for lithotripsy devices owing to an inclination toward minimally invasive procedure is projected to propel the intracorporeal lithotripsy segment during the forecast period. For instance, thulium laser is a new technology in laser lithotripsy. Its advantages include smaller fibers, increase in stone ablation, and higher flexibility. RevoLix DUO is a combination of holmium and thulium laser, offered by LISA Laser Products GmbH, and is used for urological application of lithotripsy.

Surge in Awareness Fueling Kidney Stones Segment

Based on application, the kidney stones segment dominated the global market in 2022 owing to rise in prevalence of kidney stones due to renal tubular acidosis. For instance, in the U.S., kidney stone affects 1 in 11 people, and an estimated 600,000 people in the country suffer from urinary stones every year. According to a report published in 2020, about 12% of the population of India is expected to have urinary stone. Furthermore, surge in awareness and increase in kidney stone surgeries are likely to augment the segment.

Regional Outlook of Global Lithotripsy Device Market

As per global lithotripsy device market forecast, North America is projected to be a highly attractive region during the forecast period. The region accounted for the largest share of the global market in 2022. Increase in health awareness, rise in investment in healthcare infrastructure, and surge in demand for better healthcare facilities augment the lithotripsy device market in North America. The U.S. dominated the market in the region in 2021. The trend is anticipated to continue during the forecast period due to large number of kidney stone patients and favorable reimbursement for surgical procedures. Additionally, rise in the prevalence of kidney stone disease is likely to propel the market in the region. According to an article published in the Cleveland Clinic Journal of Medicine, 15% to 30% of adults in the U.S. was suffering from gall bladder stones in 2015. Approximately 15% of men and 7% of women in the country are diagnosed with kidney stones once during their lifetime.

Europe was the second largest lithotripsy device market in 2022. Favorable regulatory scenario, approval of products, and presence of highly developed infrastructure are likely to propel the lithotripsy device market in the region. The market in Asia Pacific is projected to grow at a significantly high CAGR during the forecast period owing to the large population in countries such as Japan, India and China, higher incidence rate of kidney stone, rise in per capita income, and improved healthcare infrastructure. Moreover, increase in healthcare expenditure and rise in investment by key players in the lithotripsy device market in emerging economies are expected to propel the lithotripsy device market demand in the region.

Analysis of Key Players in Global Lithotripsy Device Market

The lithotripsy device market report includes vital information about the key players operating in the global market. Companies focus on strategies such as product launches, divestiture, mergers & acquisitions (M&A), and partnerships to strengthen their position in the market. Boston Scientific Corporation, Olympus Corporation, C. R. Bard, Inc. (Becton, Dickinson), EDAP TMS, Siemens Healthcare GmbH, Dornier MedTech, Cook Medical, KARL STORZ, Richard Wolf GmbH, and EMS are the prominent players operating in the global market.

Key Developments in Global Lithotripsy device market

• In March 2021, Boston Scientific acquired Lumenis in a US$1.1 billion deal. Through this acquisition, Boston Scientific strengthened its product portfolio in the lithotripsy devices market.
• In March 2021, Dornier MedTech GmbH became the world’s first integrated urology company to be certified by the European Union’s Medical Device Regulation (MDR). The company achieved the certification for its Class IIb products: Dornier Delta III, one of the most powerful lithotripters that utilize Dornier’s Extracorporeal Shock Wave Lithotripsy (ESWL) technology; and the Dornier UIMS, a state-of-the-art information management software providing enhanced imaging and efficiency to support clinicians in treating kidney stones.

Some of the prominent players in the Lithotripsy Device Market include:

• Boston Scientific Corporation
• Olympus Corporation
• C. R. Bard, Inc. (Becton, Dickinson)
• EDAP TMS
• Siemens Healthcare GmbH
• Dornier MedTech
• Cook
• KARL STORZ
• Richard Wolf GmbH
• EMS

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Lithotripsy Device market.

• Product
• Intracorporeal Lithotripsy
• Mechanical Lithotripsy
• Electrohydraulic Lithotripsy
• Laser Lithotripsy
• Ultrasonic Lithotripsy
• Others
• Extracorporeal Lithotripsy
• Application
• Kidney Stones
• Biliary Duct Stones
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Lithotripsy Device industry analysis from 2023 to 2032 to identify the prevailing Lithotripsy Device industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Lithotripsy Device industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Lithotripsy Device industry trends, key players, market segments, application areas, and market growth strategies.