Rising Kidney Stones To Boost Extracorporeal Shock Wave Lithotripsy Market Growth

 

Extracorporeal Shock Wave Lithotripsy Market

Extracorporeal Shock Wave Lithotripsy Market by Technology (Electromagnetic, Electrohydraulic, and Piezoelectric), Application (Kidney Stone, Pancreatic Stone, and Other Applications), End-User (Hospital, Clinic, and Other End-Users), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The Global Extracorporeal Shock Wave Lithotripsy Market Is Estimated To Be Valued At US$ 340.09 Million In 2023 And Is Expected To Exhibit A CAGR Of 6.32 % Over The Forecast Period, As Highlighted In A New Report Published By Coherent Market Insights.

Market Overview:

Extracorporeal Shock Wave Lithotripsy is a non-operational therapy for renal stones which can be conducted in the clinics, ambulatory center or mobile unit. The method utilizes shock waves to divide into stone pieces which cannot flow with urine. Extracorporeal Shock Wave Lithotripsy is efficient for many individuals, however a small percent of stones may not be dissolved ample with shock wave treatment and require other therapy. In these conditions, lithotripsy will be utilized further to break up the stone pieces.

Competitive Landscape:

Key players involved in the growth of the global Extracorporeal Shock Wave Lithotripsy Market are Olympus, Cook Medical, Richard-Wolf., Dornier MedTech and MTS Medical.

Market Key Drivers:

Increasing prevalence of kidney and ureter stones and rising minimally invasive procedures is expected to boost the growth of the global Extracorporeal Shock Wave Lithotripsy Market. For instance, as per a study published in October 2021, around 5% of women and 12% of men are suffering from kidney stones at some or the other point of life.

Rising product launches, mergers and acquisitions are anticipated to drive the growth of the global Extracorporeal Shock Wave Lithotripsy Market. For instance, in February 2023 ESWL was launched at BHR University Hospitals in the UK and in September 2021, Boston Scientific entered an acquisition with Lumenis LTD to create energy-based medical approaches for urology and otolaryngology treatments.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global Extracorporeal Shock Wave Lithotripsy Market due to the surge in pandemic. The rising cases has shifted the focus of physicians and the anesthetists towards curing the Covid-19 patients. Lack of providers, postponement in the treatments and delay in appointments impeded the market growth.

Key Takeaways:

The global Extracorporeal Shock Wave Lithotripsy Market is anticipated to exhibit a CAGR of 6.32 % during the forecast period owing to the rising prevalence of kidney stones, diabetes, obesity and metabolic disorders. For instance, as per the International Federation of Diabetics 2021, diabetes is a significant threat factor for kidney stones, and it affected around 463 million people aged amid 20 to 79 years across the globe in 2020. 

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Extracorporeal Shock Wave Lithotripsy Market due to rising prevalence of diabetes, metabolic disorders, kidney stones, diabetes, increasing launches and approvals. For instance, as per the research article published in the NLM, kidney stones affected around 600,000 in 2021 in U.S.