The rising demand for non-invasive treatment methods along with the growing cases of urolithiasis or kidney stones, along with this, the increase in the geriatric population which is highly prone to urolithiasis is estimated to assist in Lithotripsy Market growth during the forecast period.
Jersey City, New Jersey, Nov. 21, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Lithotripsy Market” By Type (Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices), By Application (Kidney Stones, Bile Duct Stones), By Geographic Scope, And Forecast.
As per the deep research carried out by Verified Market Research, the global Lithotripsy Market size was valued at USD 1.60 Billion in 2022 and is projected to reach USD 2.61 Billion by 2030, growing at a CAGR of 5.57% from 2023 to 2030.
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Global Lithotripsy Market Overview
Lithotripsy is the non-invasive treatment method for treating urolithiasis and stones in various other organs such as the liver, pancreas, and gallbladder. Lithotripsy is a Greek word that translates to breaking rocks. As per the name, Lithotripsy breaks the stones formed in various organs using ultrasonic shock waves. These stones are formed when various minerals found in the kidney, liver, and gallbladder create crystals. Ultrasonic shock waves sent using lithotripsy crushes these crystals into small debris which then can be passed through urination. Based on the technique used, there are two types of lithotripsy devices such as extracorporeal shock wave lithotripsy devices and intracorporeal lithotripsy devices.
In recent years, the demand for non-invasive treatment methods has increased significantly, which has boosted the demand for lithotripsy. Along with this, the population suffering from urolithiasis, generally the senior population has also increased. It has created the need for lithotripsy, thus driving the market in the future. The technological advancements related to lithotripsy are also expected to boost the market during the forecast period.
Additionally, rising funding by the manufacturers for new product development leading to innovation is anticipated to fuel the market during the predicted years. There are certain restraints and challenges faced which can hinder the market growth. The ultrasonic waves used in lithotripsy can cause adverse health effects which are predicted to act as a market restraint.
The major players in the market are Olympus, Siemens AG, Dornier Medtech, Medispec, Boston Scientific, Storz Medical AG, and Novamedtek.
Verified Market Research has segmented the Global Lithotripsy Market On the basis of Type, Application, and Geography.
- Lithotripsy Market, By Type
- Extracorporeal Shock Wave Lithotripsy Devices
- Intracorporeal Lithotripsy Devices
- Lithotripsy Market, By Application
- Kidney Stones
- Bile Duct Stones
- Pancreatic Stones
- Ureteral Stones
- Lithotripsy Market, By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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