Lithotripsy Device Market

Lithotripsy Device Market Outlook (2024 to 2034)

The global lithotripsy device market size is estimated to be worth US$ 1,009.3 million in 2024. Projections put the CAGR of the market at a normal 4.3% for the 2024 to 2034 period. It is expected that by 2034, the market value is set to reach US$ 1,542.8 million.

Key Market Growth Drivers

People suffering from urolithiasis problems are growing, increasing the demand for treatments that get rid of stones in the kidney and urethra. Lithotripsy is one such procedure that is receiving a boost, in turn benefitting the lithotripsy device market.

Lithotripsy is a non-invasive procedure, which is earning it more adherents. As people are getting reluctant about going under the needle, non-invasive procedures like lithotripsy are being looked at positively. Therefore, the demand for non-invasive procedures is increasing day by day.

Preventive healthcare trends are bringing to light health problems at an ideal stage. Thus, problems in the kidney, urinary tract, and bladder are coming to light more quickly, allowing more scope for lithotripsy devices to operate. With government and private encouragement for preventive healthcare, the lithotripsy device market is benefitting.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 1,009.3 million
Forecasted Market Value (2034F)	US$ 1,542.8 million
Global Market Growth Rate (2024 to 2034)	4.3% CAGR
Extracorporeal Segment Growth Rate (2024 to 2034)	4.0%
Portable Segment Growth Rate (2024 to 2034)	4.6%
North America Market Share (2024)	21.5%
East Asia Market Share (2024)	25.2%
Key Companies Profiled	Richard Wolf GmbH MedTech Bio-Rad Laboratories, Inc. Olympus Corporation Boston Scientific Corporation Abaxis Hologic Inc. DirexGroup KARL STORZ SE & Co. KG Lumenis Be Ltd. Dornier MedTech Walz Elektronik GmbH

What Factors Have Driven the Demand in the Lithotripsy Device Market?

“Frequent Change in Lifestyle and Eating Habits Increasing the Problem of Kidney Stones”

The incidence of kidney stones among people is increasing due to rising obesity, chronic diarrhea, post-disease complications, and high consumption of protein, which are leading to struvite and cysteine stones. Therefore, the sales of lithotripsy devices and other kidney stone management devices are increasing.

“Development of New Devices is Bolstering the Lithotripsy Device Industry”

The devices use techniques such as laser lithotripsy, ultrasonic lithotripsy, electrohydraulic lithotripsy, and more to treat different types of problems. Manufacturers are also coming up with novel techniques to improve the efficiency of the lithotripsy, such as Break Wave lithotripsy, while also minimizing the collateral damage caused to the surrounding area due to the procedure. For instance, Shockwave Medical announced the launch of a peripheral IVL catheter in the United States in 2023.

Which Factors Present Challenges to the Expansion of the Lithotripsy Device Market?

“Availability of Alternatives and the Existence of Side Effects Due to Lithotripsy Impede the Growth of the Market for Lithotripsy Device”

Several alternatives exist to lithotripsy, which limits the scope of the market. Traditional surgeries for the removal of kidney stones remain popular and are still the go-to option for many patients and doctors. If the size of the stone is small, the passing of the stone without any medical treatment, through natural means and medication, is encouraged. Other therapies like ureteroscopy and percutaneous nephrolithotomy are used for complicated cases with large stones. Thus, significant competition exists in lithotripsy, negatively impacting the lithotripsy device market.

The non-invasive nature of lithotripsy does not exclude the procedure from side effects. Side effects from the procedure include bleeding around the kidney, vascular trauma to the organ, and scarring, among others. With consumers getting increasingly wary of side effects due to medical procedures, there is an aversion to the use of lithotripsy, constricting the demand for lithotripsy devices. Manufacturers are, however, taking note of the problem and coming up with devices that minimize the risk of side effects due to lithotripsy.

Country-wise Insights

North America holds a considerable portion of the market share. For 2024, the market value in North America is pegged to be US$ 217.0 million, with a share of 21.5%. For the 2024 to 2034 period, the market is expected to register a consistent CAGR of 3.9% in North America. At the end of the forecast period, the North America market value is expected to have reached US$ 319.0 million, with the industry share being 20.7%.

East Asia is one of the leading regions for the market, with the share in the region even higher than in North America. The 2024 industry share for the region is estimated to be 25.2%, with a valuation of US$ 254.0 million. The CAGR for the market over the forecast period is anticipated to be 3.4%. By the time 2034 rolls around, the valuation of the market in East Asia is expected to be US$ 356.0 million, with a share of 23.1%.

What Makes Mexico Such a Promising Country for the Lithotripsy Device Market?

“Rise in Medical Tourism Propels the Lithotripsy Device Industry in Mexico”

The lithotripsy device market value in Mexico for 2024 is anticipated to be US$ 26.0 million. The market is expected to register a solid CAGR of 4.5% in Mexico from 2024 to 2034, and by the end of the forecast period, the market value is projected to have crossed US$ 41.0 million.

Mexico is attracting several tourists for medical purposes, especially from the neighboring United States, as it is more affordable compared to the developed countries. The Mexican government is encouraging tourist packages that involve medical treatment and check-ups, while private health facilities advertise the tourist places nearby. Thus, medical tourism is leading to the acceleration of the healthcare sector, which is benefitting markets in the industry, including the lithotripsy device market.

Why is the Lithotripsy Device Market Enjoying Progress in the United States?

“Demand for Non-invasive Procedures Among the Financially Well-off Population of the United States is Beneficial for the Market”

The market value of lithotripsy devices in the United States for 2024 is marked at US$ 172.0 million. The market is expected to register a commendable CAGR of 3.8% in the United States over the forecast period, reaching a valuation of US$ 251.0 million by 2034.

With rising disposable incomes, the American populace is less hesitant about spending money on procedures that require the least amount of effort from them. Thus, minimally invasive and non-invasive procedures are being preferred by the American population. With one in ten Americans claiming to suffer from kidney stones, a non-invasive procedure like lithotripsy is winning adherents, thus bolstering the market for lithotripsy devices.

Category-wise Insights

Extracorporeal lithotripsy devices continue to dominate the market for the time being. For 2024, extracorporeal devices are expected to account for 71.4% of the market share by product type. Intracorporeal lithotripsy devices are expected to account for the remaining 28.6% in 2024. The modality segment also sees a leader continue to dominate, with portable lithotripsy devices continuing to be the common one. For 2024, portable devices are expected to account for 73.0% of the industry share. The runner-up spot is taken by standalone lithotripsy devices, with an anticipated 27.0% of the share in 2024.

Why Do Extracorporeal Lithotripsy Devices Continue to be the Leader in the Product Type Segment?

“Benefits Such as Minimal Invasiveness and Faster Recovery Time Ensure Extracorporeal Lithotripsy Devices Remain the Popular Product Type”

Extracorporeal lithotripsy device is expected to contribute to 71.4% of the industry share by product type in 2024. Through 2034, the product is expected to progress at a CAGR of 4.0%. By the end of the forecast period, the share for extracorporeal devices is expected to be 68.8%.

Extracorporeal lithotripsy devices are convenient to use for doctors and also cause minimum discomfort to patients. Patients also have a clearer idea of the problem they are facing. The fast-working nature of the device ensures the recovery time from lithotripsy is low, thus shortening hospital stays. The popularity of minimally invasive procedures is another factor helping the demand for the product. Thus, extracorporeal devices are dominant in the market.

However, intracorporeal lithotripsy devices are also experiencing an uptick in demand and are projected to hold more of an industry share going forward. While the 2024 share for intracorporeal devices is estimated to be 28.6%, the 2034 share is forecasted to increase by 31.2%.

Competitive Landscape

The key players in the lithotripsy device market include Richard Wolf GmbH, MedTech, Bio-Rad Laboratories, Inc., Olympus Corporation, Boston Scientific Corporation, Abaxis, Hologic Inc., DirexGroup, KARL STORZ SE & Co. KG, Lumenis Be Ltd., Dornier MedTech, and Walz Elektronik GmbH.

The market for lithotripsy devices is fragmented, although a few strong players have established a reputation for themselves. Smaller-scale players have plenty of room to maneuver, though, and, with the right strategies, can thrive.

The launch of new devices with updated capabilities is a key concern for market players. The industry players are also cognizant of the benefits of minimizing side effects and are undertaking research to come up with devices that do so.

Recent Developments in the Market are:

• In May 2023, Sonomotion, a United States-based medical device startup, launched the Break Wave and Stone Clear Lithotripsy devices. These handheld devices use low ultrasound waves to fragment kidney stones.
• In October 2023, Amplitude Vascular Systems announced the launch of a peripheral intravascular lithotripsy system called Pulse in 2024. The system is focused on treating intravascular disease.

Segmentation of Lithotripsy Device Market Research

• By Product Type:

  • Intracorporeal
  • Extracorporeal

• By Modality:

  • Standalone
  • Portable

• By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

• By Application:

  • High
  • Medium
  • Low

• By Application:

  • Kidney Stones
  • Ureteral Stones
  • Pancreatic Stones
  • Bile Duct Stones

• By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • The Middle East & Africa