Extracorporeal shock wave lithotripsy (ESWL) is a non-invasive treatment used to break up kidney stones and gallstones using shock waves. The procedure is minimally invasive, safe and effective, allowing for same day discharge from the clinic or hospital. ESWL fragmentation of kidney stones has become the standard treatment modality because it is less invasive than other alternatives like ureteroscopy or percutaneous nephrolithotomy.
The global Extracorporeal Shock Wave Lithotripsy Market size is projected to reach Us$ 510.34 Million in 2024 from US$ 347.32 Million in 2019, estimated to exhibit a CAGR of 7.2% over the forecast period from 2024 To 2030.
The global extracorporeal shock wave lithotripsy market is driven by the growing prevalence of kidney stones. Statistics show that approximately 12% of people will develop kidney stones at some point during their lifetime. Cases of kidney stones are rising due to increasing risk factors like obesity, lack of physical activity, and high intake of animal protein. The demand for ESWL devices for effective stone management is increasing as it causes minimal tissue damage and blood loss compared to other surgical procedures.
Key Takeaways
Key players operating in the extracorporeal shock wave lithotripsy market are Siemens AG, Dornier MedTech, Olympus, MEDWAVE, EDAP TMS, Richard Wolf, Direx Group, Walz Elektronik GmbH, and MTS Medical.
The growing prevalence of kidney stones globally is pushing the demand for lithotripsy procedures. Statistics show 12% of the worldwide population will have a kidney stone at some point, presenting opportunities for market players.
Major players are expanding their geographic presence into emerging markets like Asia Pacific and Latin America. The availability of advanced technology ESWL devices and rising medical tourism in these regions will boost the lithotripsy market growth.
Market Drivers
The increasing obese population is a major driver for market growth. Obesity is a leading risk factor for developing kidney stones due to excessive oxalate absorption and urinary stasis in overweight individuals.
Sedentary lifestyles and lack of physical activity are also contributing to the rising prevalence of kidney stones. Without adequate fluid intake and exercise, people are more prone to develop stones.
Growth in medical tourism is propelling the demand for lithotripsy procedures across regions. Countries like India and Thailand offer affordable ESWL treatment attracting international patients. This is positively impacting the expansion of key players.
Impact of geopolitical situation on the Extracorporeal Shock Wave Lithotripsy Market growth
The Extracorporeal Shock Wave Lithotripsy market is facing challenges due to the ongoing geopolitical tensions and conflicts across various regions. The rising political instability and territorial disputes in countries like Russia, Ukraine, Middle East etc have disrupted the supply chains and trade activities. This has negatively impacted the procurement of raw materials and component manufacturing for Extracorporeal Shock Wave Lithotripsy devices. Moreover, the economic sanctions on some countries have hampered the exports and international sales. The market players need to closely monitor the geopolitical developments and volatility. They should diversify their supply base and manufacturing footprint to mitigate supply chain risks. Local manufacturing and partnerships can help compensate for the export barriers. The companies must also focus on expanding in relatively stable markets like Asia Pacific and Europe to offset losses from politically turbulent regions. Investing in innovative product development can aid long term growth despite short term geopolitical headwinds.
Geographical regions with highest Extracorporeal Shock Wave Lithotripsy market share
Europe accounts for the largest share of the global Extracorporeal Shock Wave Lithotripsy market in terms of value. This is attributed to the rising prevalence of urolithiasis, robust healthcare infrastructure and growing Medical Tourism industry in major European countries including Germany, UK and Italy. As per estimates, the European market is projected to surpass US$ 180 Million by 2030. North America stands at the second position owing to increasing adoption of advanced lithotripsy procedures and substantial reimbursement coverage in the US and Canada. Asia Pacific is identified as one of the fastest growing regional markets with nations like China, India and Japan expanding their healthcare spending and urbanization.
Fastest growing region in the Extracorporeal Shock Wave Lithotripsy Market
Asia Pacific region is slated to register the highest CAGR in the global Extracorporeal Shock Wave Lithotripsy market during the forecast period. This impressive projected growth can be attributed to the evolving healthcare infrastructure, rapidly growing medical device industry, rising medical tourism industry, and surging prevalence of urolithiasis among urban population in Asia Pacific countries. Furthermore, expanding healthcare access through public and private insurance schemes in the region will significantly drive the demand for advanced lithotripsy treatments. The market growth shall also be propelled by increasing collaboration between foreign medical technology players and domestic Asian firms. China, India and other ASEAN countries are expected to witness healthy double digit growth rates in the Extracorporeal Shock Wave Lithotripsy market through 2030.
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