Expanding at a CAGR of 4.9%, the global lithotripsy devices market is projected to increase from a valuation of US$ 1.4 Bn in 2021 to US$ 2.4 Bn by 2032.
“The growing incidence of urolithiasis diseases and increasing demand for non-invasive procedures among the population is expected to upsurge the lithotripsy devices market growth.”
| Attributes | Details |
|---|---|
| Lithotripsy Devices Market Value in 2021 | US$ 1.4 Billion |
| Lithotripsy Devices Market Value in 2032 | US$ 2.4 Billion |
| Lithotripsy Devices Market CAGR (2022 to 2032) | 4.9% |
Devices used in lithotripsy, a minimally invasive surgical process that is used to treat stones like particles in the kidney, ureter, or bladder that are too big to pass through the urinary tract, are referred to as lithotripsy devices. The usual method is to detect the stone using ultrasound or fluoroscopy, then transmit shock waves or strong ultrasonic energy waves straight to it to further shatter it into smaller fragments that can flow out by the urinary system.
The important factor driving the growth of the lithotripsy devices market in the forecast period is the increasing elderly population that has been seen around the world. Additionally, factors like rising investment levels in the creation of cutting-edge technology and supportive government regulations for diagnostic procedures like X-ray and urine microscopy tests as well as the rising incidence of urolithiasis diseases all contribute to the market's overall expansion.
Furthermore, the increasing rate of extracorporeal shock wave lithotripsy procedures performed is propelling market growth. Extracorporeal shock wave lithotripsy is a non-invasive procedure that causes no harm to the kidney. It is the most convenient procedure and has become a choice for the treatment of urinary stone removal. Thus, the benefits of extracorporeal shock wave lithotripsy devices are fuelling the demand for lithotripsy devices, which is helping the market to propel.
The lithotripsy devices market is broadly segmented into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America is dominating the global lithotripsy devices market due to the increasing rate of surgeries for kidney stones. A large number of the female population as compared to males are more likely to have renal disorders. Chronic renal disorders are common across the region. Thus, the demand for lithotripsy devices is expected to grow in this region.
Apart from North America, the European lithotripsy market is also expected to experience lucrative growth in the forecast years. East Asia and South Asia region is predicted to show rapid growth due to the rising adoption of developed technologies, owing to the rising awareness about the devices and technology along with the developed infrastructure. Latin America, and the Middle East and Africa are expected to grow at a substantial rate in the coming years.
Some of the market players operating in the lithotripsy devices market are 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, and others.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.9% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
The global lithotripsy devices market is anticipated to register a CAGR of 4.9% during the forecast period.
The global lithotripsy devices market is projected to be about US$ 2.4 Bn by the end of year 2032.
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Lithotripsy Devices Market
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