Extracorporeal Shock Wave Lithotripsy Market
Number of pages: 100 | Report Format: PDF | Published date: February 07, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 348 million |
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Revenue Forecast in 2030 |
US$ 592 million |
|
CAGR |
6.1% |
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Base Year For Estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
|
Segments Covered |
Technology, Application, End-User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global extracorporeal shock wave lithotripsy market was valued at US$ 348 million in 2021 and is expected to register a revenue CAGR of 6.1% to reach US$ 592 million by 2030.
Extracorporeal Shock Wave Lithotripsy Market Fundamentals
Extracorporeal shock wave lithotripsy (ESWL) is a treatment to remove stones from the bile ducts, pancreatic ducts, or urinary system of an individual using a succession of shock waves produced by a lithotripter. In this procedure, X-ray is used to target the shock waves as they enter the body. The purpose of the technique is to reduce the size of the stones so that they can travel through the body or be removed more easily. Pieces of kidney and ureter stones pass via the urine. Large chunks may need to be removed from stones in the pancreatic or bile duct using an endoscope. There are two procedures for removing stones using shock wave treatment. One technique involves submerging the patient in a tub of warm water. The body is positioned such that the stones are accurately targeted using ultrasound or X-rays to locate where the stones are. In the second, more popular technique, the patient is placed on top of a soft cushion or membrane that allows the waves to travel through. About 1-2000 shock waves are required to crush the stones. The entire procedure lasts between 45 and 60 minutes.
About 50% of people with chronic pancreatitis develop pancreatic duct stones. These stones may obstruct the duct, resulting in discomfort and a decrease in the flow of vital pancreatic enzymes for digestion. The primary line of treatment for big pancreatic duct stones is frequently ESWL. The bile ducts are a possible location for gallstones to become lodged after they leave the gallbladder. An endoscope is typically used to remove gallstones from the bile duct. However, ESWL may be employed to fragment some bigger or more difficult-to-reach stones before extraction.
The global extracorporeal shock wave lithotripsy market is expected to grow at higher revenue CAGR during the forecast period due to factors such as increasing incidence of urinary tract stones, technological advancements in ESWL devices, and growing awareness about minimally invasive surgical procedures. The increasing popularity of ESWL as a non-invasive treatment option for kidney stones is expected to drive revenue growth in the market. Additionally, increasing focus of players on the development of more advanced and user-friendly ESWL devices is expected to further boost market revenue growth.
However, the high cost of ESWL devices and procedures and the lack of skilled professionals may pose challenges to the revenue growth of the extracorporeal shock wave lithotripsy market.
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Extracorporeal Shock Wave Lithotripsy Market Dynamics
The rising prevalence of stone formation in the kidney, ureter, and pancreatic duct is the major driving factor of the extracorporeal shock wave lithotripsy market. ESWL is a non-invasive procedure that reduces the overall hospital stay and provides quick recovery, increasing the demand for ESWL. The rising geriatric population and growing diabetic and obese population are more prone to stone formation, thus propelling the revenue growth of the extracorporeal shock wave lithotripsy market. Moreover, the incorporation of advanced technologies in ESWL and the growing awareness regarding ESWL for kidney stone removal are also boosting the revenue growth of the extracorporeal shock wave lithotripsy market. Additionally, the major market players are investing in R&D activities related to lithotripsy and are continuously innovating ESWL devices, which are also anticipated to fuel the revenue growth of the extracorporeal shock wave lithotripsy market.
However, the high cost related to lithotripsy equipment and procedure is the major restricting factor of the extracorporeal shock wave lithotripsy market. There are some side effects of ESWL, such as it can disrupt pacemakers and does not guarantee the removal of the stone, thus hampering the revenue growth of the extracorporeal shock wave lithotripsy market.
Extracorporeal Shock Wave Lithotripsy Market Ecosystem
The global extracorporeal shock wave lithotripsy market has been analyzed from four perspectives: technology, application, end-user, and region.
Extracorporeal Shock Wave Lithotripsy Market by Technology
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Based on technology, the global extracorporeal shock wave lithotripsy market is segmented into electromagnetic, electrohydraulic, and piezoelectric.
The electrohydraulic technique segment dominated the extracorporeal shock wave lithotripsy market with the largest market revenue share in 2021. The electrohydraulic technique is the most widely used and accepted lithotripsy by physicians, thus boosting the segment’s revenue growth. The electrohydraulic technique is the primary treatment for pancreatic duct stones, increasing the demand for electrohydraulic lithotripsy. Moreover, for the treatment of difficult stones, the electrohydraulic technique is preferred over other techniques as it is more portable, rapid, and efficient, fueling the segment’s revenue growth. Similarly, it is more cost-efficient compared to other techniques. The electrohydraulic technique is more commonly used during percutaneous choledochoscopy, which is more precise, thus propelling revenue growth in the segment.
Extracorporeal Shock Wave Lithotripsy Market by Application
Based on application, the global extracorporeal shock wave lithotripsy market is segmented into uretic stones, kidney stones, pancreatic stones, and salivary stones.
The kidney stones segment accounted for the largest revenue share of the extracorporeal shock wave lithotripsy market in 2021. The rising prevalence of kidney stones globally is increasing the demand for ESWL, thus boosting revenue growth in the segment. The growing geriatric and obese population with unhealthy lifestyles is increasing the cases of kidney stones, which plays a significant role in the segment growth. Moreover, the increase in the demand for non-invasive procedures for kidney stone treatment is fueling the segment’s revenue growth.
Extracorporeal Shock Wave Lithotripsy Market by End-user
Based on end-user, the global extracorporeal shock wave lithotripsy market is segmented into hospitals, clinics, and others.
The hospitals & clinics segment accounted for a significant revenue share of the extracorporeal shock wave lithotripsy market in 2021. The large revenue share of the hospital segment is attributed to the rise in patient footfall in the hospitals. Hospitals have more well-developed infrastructure and availability of skilled professionals, thus boosting the segment’s growth. The high cost related to lithotripsy equipment and maintenance is restricting the usage of this equipment by other end-users, propelling the segment revenue growth.
Extracorporeal Shock Wave Lithotripsy Market by Region
Based on the region, the global extracorporeal shock wave lithotripsy market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global extracorporeal shock wave lithotripsy market in 2021, followed by Europe and Asia Pacific. The rising prevalence of stones in the kidney, ureter, and pancreatic duct, together with the rising geriatric population, is the major driving factor of the region. The rise in the per capita spending on healthcare in the region is also boosting regional growth. The growing obese population and unhealthy lifestyle are resulting in increasing cases of kidney stones. The region is expected to expand as a result of the region’s advancing healthcare facilities and shifting demographics. Moreover, the presence of major players in the region is also anticipated to fuel regional revenue growth.
Extracorporeal Shock Wave Lithotripsy Market Competitive Landscape
The prominent players operating in the extracorporeal shock wave lithotripsy market are:
Extracorporeal Shock Wave Lithotripsy Market Strategic Developments
Extracorporeal shock wave lithotripsy is a treatment to remove stones from the bile ducts, pancreatic ducts, or urinary system using a succession of shock waves produced by a lithotripter.
The high cost related to ESWL and complications, such as it can cause a problem with pacemakers, are some of the restricting factors for revenue growth of the market.
North America dominates the market in terms of revenue, and the market for Asia Pacific is expected to register the fastest revenue CAGR during the forecast period.
Boston Scientific Corporation, Siemens Healthcare GmbH, Richard Wolf GmbH, Dornier MedTech GmbH (Advanced MedTech Holdings), and Cook Group, Inc. are among the key players operating in the global market.
The kidney stones segment accounts for the largest market share of the global market.
*Insights on financial performance are subject to the availability of information in the public domain