Lithotripsy Devices Global Market Report 2024

The lithotripsy devices market size has grown strongly in recent years. It will grow from $1.21 billion in 2023 to $1.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The expansion observed during the historical period can be ascribed to several factors, including the introduction of extracorporeal shock wave lithotripsy (ESWL), the availability of clinical evidence and research supporting its efficacy, a growing preference among patients for non-invasive treatment options, increased market penetration within healthcare facilities, adherence to regulatory approvals and standards, and efforts focused on physician training and education. These combined elements have played a pivotal role in driving the growth of the sector.

The lithotripsy devices market size is expected to see steady growth in the next few years. It will grow to $1.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated expansion during the forecast period is primarily driven by the increasing incidence of urolithiasis, a rising geriatric demographic, a shift towards minimally invasive procedures, a preference for outpatient treatments, and a growing acceptance of sedation-free techniques. Key trends expected in the forecast period encompass the uptake of disposable devices, the implementation of collaborative multi-disciplinary care, integration of remote monitoring and telemedicine, exploration of non-invasive alternatives, and the extension of home-based lithotripsy services.

The anticipated growth of the lithotripsy device market is poised to be propelled by the expanding global geriatric population. Defined as individuals typically aged 65 years or older, the rise in this demographic group is expected to be a significant driver for the market. The increasing incidence of kidney stones and urolithiasis among the geriatric population necessitates the utilization of lithotripsy devices, which facilitate minimally invasive procedures for the removal of kidney stones and the provision of treatment for urolithiasis in this specific age group. For example, as highlighted in a factsheet published by the World Health Organization in October 2021, the global population aged 60 and above is projected to reach 1.4 billion by 2030, up from 1 billion in 2020. Consequently, the growing geriatric population worldwide emerges as a key factor fueling the growth trajectory of the lithotripsy device market.

The projected growth of the lithotripsy device market is expected to be driven by the increasing prevalence of kidney stones. Kidney stones, characterized by hard deposits of minerals and salts forming within the kidneys, prompt the demand for lithotripsy, a minimally invasive procedure designed to break down stones into smaller fragments for easier passage through the urinary tract. Notably, a study published in December 2022 by BMC Urology revealed a 21.1% prevalence of kidney stones in the population aged 40–70 years in southern Iran, with a higher incidence among men. Consequently, the rising occurrence of kidney stones serves as a catalyst for the prospective growth of the lithotripsy device market.

A significant trend influencing the lithotripsy device market is the adoption of technological advancements by major industry players. Leading companies within the market are actively investing in the development of advanced devices to maintain their competitive edge. An illustrative example is Cardiovascular Systems Inc., a US-based medical device manufacturer specializing in lithotripsy, which introduced intravascular lithotripsy technology in January 2022. This innovative technology is designed for treating coronary and peripheral artery diseases, allowing Cardiovascular Systems Inc. to provide products addressing a wide spectrum of calcific coronary lesions. The integration of such advanced technologies reflects a key trend shaping the landscape of the lithotripsy device market.

Prominent enterprises in the lithotripsy device market are strategically focusing on product advancements, exemplified by the introduction of innovations such as the peripheral intravascular lithotripsy (IVL) catheter. This specialized medical device is designed to streamline the treatment duration of IVL, particularly in addressing blockages within the arteries of the legs and feet. A notable illustration is the initiative undertaken by Shockwave Medical, Inc., a US-based provider of medical devices for atherosclerotic cardiovascular disease treatment. In March 2022, Shockwave Medical unveiled the Shockwave M5+ peripheral IVL catheter, having secured both CE Mark and USFDA clearance. This cutting-edge peripheral catheter introduces significant enhancements, facilitating efficient and effective treatment, even for challenging cases that were previously deemed difficult to address with IVL.

In September 2022, Advanced MedTech Solutions, a Singapore-based medical device and technology manufacturer, successfully acquired Wikkon for an undisclosed sum. This strategic acquisition positions Advanced MedTech Solutions to gain entry into the urology market in China, securing access to Wikkon's China-based device platform, a local sales force, and a medical device manufacturing strategy. Wikkon, a China-based innovative manufacturer specializing in lithotripsy and urology devices, brings valuable capabilities and assets to Advanced MedTech Solutions through this acquisition.

Major companies operating in the lithotripsy devices market report are Siemens AG, Becton Dickinson and Company, Boston Scientific Corporation, Cook Medical LLC, Shockwave Medical Inc., Lumenis Ltd., EDAP TMS S.A., Dornier MedTech GmbH, Electro Medical Systems S.A., Allengers Medical Systems Limited, DirexGroup, Medispec Ltd., Elmed Medical Systems Ltd., Convergent Laser Technologies, MTS Medical, NOVAmedtek LLC, EMD Medical Technologies, NIDHI Meditech Systems (NMS), 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.

North America was the largest region in the lithotripsy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lithotripsy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the lithotripsy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of lithotripsy devices encompass extracorporeal shock wave lithotripsy (ESWL) devices, intracorporeal lithotripsy devices, laser lithotripsy devices, electrohydraulic lithotripsy devices, ultrasonic lithotripsy devices, and mechanical lithotripsy devices. ESWL devices, for instance, utilize shock waves generated externally to break down kidney stones and find applications in various medical scenarios such as kidney stones, ureteral stones, pancreatic stones, and bile duct stones. These advanced medical tools cater to diverse end-users, including hospitals, ambulatory surgical centers, and other healthcare facilities, reflecting their versatility and efficacy in addressing stone-related medical conditions.

The lithotripsy devices research report is one of a series of new reports that provides lithotripsy devices market statistics, including the lithotripsy devices industry's global market size, regional shares, competitors with a lithotripsy devices market share, detailed lithotripsy devices market segments, market trends and opportunities, and any further data you may need to thrive in the lithotripsy devices industry. This lithotripsy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The lithotripsy device market consists of sales of dual-energy lithotripsy devices and robotic lithotripsy devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.