Lithotripsy devises market is primarily driven by the growing burden of kidney diseases and advancements in device technologies coupled with rising awareness. Urolithiasis is a common urologic problem and it poses a significant burden on the healthcare system, globally. It is associated with an increased risk of end-stage renal failure, which is driving the demand for lithotripsy devices.
The National Health and Nutrition Examination Survey (NHANES) 2017 indicates that the prevalence of urolithiasis has increased over the last three decades, in the United States. This turns out to be a significant projected economic burden, with an additional USD 1.24 billion per year expenditure estimated by 2030. Thus, the increasing global prevalence of urolithiasis necessitates safe, efficacious, and affordable treatment for urolithiasis.
Over the years, lithotripsy has become the most preferred method for the treatment of kidney stones. This has largely been due to the advantage of its relative safety, low cost, less recovery time, and positive patient outcomes. Thus, all these factors are responsible for driving the growth of the lithotripsy devices market.
However, availability of alternative treatments and side effects associated with lithotripsy are projected to hinder the market growth over the forecast period.
Key Market Trends
Extracorporeal Shock Wave Lithotripsy (ESWL) Devices is Expected to Have Significant Share
- Extracorporeal shock wave lithotripsy is a technique for treating stones in the kidney and ureter that does not require surgery. Instead, high energy shock waves are passed through the body and used to break stones into pieces as small as grains of sand.
- Extracorporeal shock wave lithotripsy (ESWL) system is one of the highly-preferred treatment modalities. Furthermore, ESWL is noninvasive, which means that there is no need to perform any open surgery.
- Generally, this procedure is safe and less time-consuming, it takes only 45 minutes to perform. The growing demand for noninvasive procedures is leading to the adoption of ESWL.
- However, on the other hand, intracorporeal lithotripsy devices are also projected to register a notable growth rate wing to new product launches and advancements in laser technologies.
- For instance, in July 2018, Dornier MedTech introduced the new laser portfolio and the most-powerful urological laser for stone lithotripsy in Singapore. Furthermore, growing kidney related disorders coupled with rising awareness across the globe likely to agument the market growth over the forecast period.
North America Holds the Largest Share of the Lithotripsy Device Market
North America lithotripsy devices market is projected to have significant market growth over the forecast period. The National Health and Nutrition Examination Survey (NHANES) 2017, indicates that the prevalence of urolithiasis has increased over the last three decades in the US. This turns out to be a significant projected economic burden, with an additional USD 1.24 billion per year expenditure
Similarly, according to the National Chronic Kidney Disease Fact Sheet from 2017, there are around 30 million people or 15% of the United States adults that are estimated to have chronic kidney disease.
During the forecast period, the region's share of the global market is likely to grow significantly, owing to the high prevalence and the treatments of kidney stone disease in the United States. In addition, product launches, acquisition and collaborations are expected to promote the regional market.
The lithotripsy device market consists of several major players. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them strengthen their market positions. For instance, Dornier MedTech started in May 2018, with a new lithotripter system, Dornier Delta III and SmartLitho.
Furthermore, companies also focusing on the widening applications of lithotripsy devices to strengthen their market over the forecast period. For instance, In January 2019, Shockwave Medical has launched a U.S. pivotal trial for its coronary lithotripsy device, which is designed to prepare heavily calcified coronary lesions for stenting. The technology uses sonic pressure waves to fracture intimal and medial calcium without damaging arterial tissue.
The key market players operating in lithotripsy devices are EDAP TMS, Boston Scientific Corporation, Olympus Corporation, Accuron and DirexGroup among others
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