Lithotripsy Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

The Lithotripsy Devices Market is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing cases of urolithiasis and the rising product developmental activities across the globe.

The Lithotripsy devices market was valued at USD 1.39 billion in 2023, growing at a CAGR of 4.32% during the forecast period from 2024 to 2030 to reach USD 1.78 billion by 2030. The lithotripsy devices market is growing significantly due to the rising prevalence of urolithiasis, technological advancements in product development, increased risk of end-stage renal failure, and rising awareness for the procedure is expected to escalate the demand for lithotripsy devices during the forecast period from 2024 to 2030.

Lithotripsy Devices Market Dynamics:

Data from the British Association of Urological Surgeons (2024), stated that kidney stones are most common. Patients undergoing a CT scan have an 8% chance of having kidney stones and its incidence had been steadily increasing since the early 20th century. In addition to this, 1 in 11 people (9%) will get stone symptoms during their lifetime. Men are affected slightly more often than women. Patients of all ages suffer from stones, but the peak age for a first stone is around the age of 45.

Moreover, the growing burden of stones developing in different organs of the body leads to the growth in the demand for lithotripsy procedures. These procedures treat stones by emitting focused ultrasonic energy or shock waves directly to the stone first located with fluoroscopy or ultrasound (high-frequency sound waves). These shock waves break a large stone into smaller stones that pass through the urinary system. Owing to the occurrence of stones in various parts of the body, the lithotripsy devices market will rise significantly.

According to the National Kidney Foundation 2024, over half a million people go to emergency rooms for kidney stone problems every year. Thus, the burgeoning cases of urolithiasis will contribute to the lithotripsy devices market growth.

In addition, the development of advanced technologies is evolving at a greater pace. For instance, in February 2021, Shockwave Medical, Inc. developed an intravascular lithotripsy sonic pressure wave therapy that involves delivering sonic waves to calcified plaque in an artery. The device received Pre-Market Approval for severely calcified coronary artery disease from the US FDA. The innovative technology, which was granted Breakthrough Device designation by the FDA, is a novel application of lithotripsy, an approach that is used for decades to safely break up kidney stones.

Therefore, the factors stated above collectively will drive the overall lithotripsy devices market during the forecast period from 2024 to 2030.

However, the disruption of surrounding tissue associated with hematuria and risks of stone fragment retention, among others may limit their end-user base, thus acting as key constraints limiting the growth of the lithotripsy devices market.

Lithotripsy Devices Market Segment Analysis:

In the type segment of Lithotripsy devices, extracorporeal shock wave lithotripsy devices category is expected to have a significant revenue share in the year 2023. The rapid growth of this product category can be attributed to the features of the extracorporeal shock wave lithotripsy devices category.

The main benefit of extracorporeal shock wave lithotripsy is the non-invasive treatment, as it does not involve any skin incisions or the use of any invasive surgical instruments to treat the stone. Instead, shock waves are utilized to shatter the stone into tiny fragments that flow through the ureter and out of the bladder. It also has other advantages such as reduced pain, quick recovery time, and shorter hospital stays.

These are suited for small stones as well as certain stones present in the upper portion of the ureter. Moreover, multiple stones can also be treated with extracorporeal shock wave lithotripsy. Therefore, it is expected that with such advantages offered by the extracorporeal shock wave lithotripsy devices, this technology is expected to increase its penetration in coming years.

Rising product developmental activities by market players are likely to drive the market for this category. For example, 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). Dornier 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.

Therefore, owing to the above-mentioned factors, the demand for the extracorporeal shock wave lithotripsy devices category upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall growth of the lithotripsy devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall Global Lithotripsy Devices Market:

Among all the regions, North America is expected to dominate the lithotripsy devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. This is due to the growing prevalence of urolithiasis and the rising burden of end-stage renal disease underscoring the increasing demand for effective management solutions, Enhanced by technological advancements, regulatory approvals, and significant market presence of leading companies, continued investment in healthcare infrastructure and innovative product development is expected to drive the market for lithotripsy devices during the forecast period from 2024 to 2030.

As per the Canadian Urological Association 2021, globally, the prevalence of urolithiasis is steadily increasing, and though some regional variability exists, contemporary estimates report up to 10-12% of men and 7-8% of women now suffer from nephrolithiasis.

According to the US Department of Health and Human Services 2021, end-stage renal disease (ESRD) is a significant public health problem in the United States and a major source of suffering and poor quality of life for those afflicted. Lithotripsy devices are used to break down kidney stones into smaller pieces, making them easier to pass and reducing associated pain. This non-invasive treatment helps manage urolithiasis and can improve the quality of life for patients, including those with end-stage renal disease.

Additionally, in North America and at the global level the US represents the largest market worldwide supported by the developed healthcare infrastructure and strong adoption of technologically advanced products owing to the rise in healthcare expenditure by the government. Rising product developmental activities by regulatory bodies in the region will further boost the market for lithotripsy devices. For example in April 2024, Olympus Corporation announced the FDA 510(k) clearance for its RenaFlex single-use ureteroscope system. RenaFlex offers access and visualization in the urinary tract to diagnose and treat urinary diseases and disorders, such as kidney stones.

Moreover, the presence of key players such as Boston Scientific Corporation, ELMED™ USA Medical Systems, and Siemens Medical Solutions USA, Inc., among others in the region is also a driving factor for the lithotripsy devices market as they hold a significant revenue share in the region.

Therefore, the interplay of all the aforementioned factors above would provide a conducive growth environment for the North America region in the lithotripsy devices market.

Lithotripsy Devices Market Key Players:

Some of the key market players operating in the lithotripsy devices market include Boston Scientific Corporation, Walz Elektronik GmbH, Lumenis, DirexGroup, Medispec Ltd, Richard Wolf GmbH, Technomed Medical Systems, ELMED™ USA Medical Systems, SODY Medical Equipment Co. Ltd, NOVAMEDTEK, STORZ MEDICAL AG, Allengers, Dornier MedTech GmbH, MTS Medical UG, Electro Medical Systems (EMS), Apex-MediTech, Siemens Medical Solutions USA, Inc, Olympus Corporation, Shockwave Medical Inc, EDAP TMS, and others.

Recent Developmental Activities in The Lithotripsy Devices Market:

• In September 2022, BDA Partners announced that its client, Advanced MedTech Holdings (“AMTH”), a subsidiary of Temasek, acquired a majority interest in Shenzhen Wikkon Precision Instruments (“WIKKON”), China’s market leader in urology and shock wave therapy devices.
• In March 2021, Boston Scientific acquired Lumenis in a $1.07 billion deal. With this acquisition, Boston Scientific strengthened its product portfolio for the Lithotripsy devices market. This will further add to the growth of the Global Lithotripsy devices market.

Key Takeaways from the Lithotripsy Devices Market Report Study

• Market size analysis for current lithotripsy devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the lithotripsy devices market
• Various opportunities available for the other competitors in the lithotripsy devices market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current lithotripsy devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for lithotripsy devices market growth in the coming future?