Lithotripsy Device Market Size to Reach Valuation of US$ 1,542.8 Million by 2034: Fact.MR Report
Rising Incidence of Urolithiasis Problems is Leading to Increased Demand for Lithotripsy Devices
Rockville , March 21, 2024 (GLOBE NEWSWIRE) -- The global lithotripsy device market is estimated to be US$ 1,009.3 million in 2024. The market is projected to grow at an average clip with a 4.3% CAGR through 2034. Demand for lithotripsy devices is expected to reach a valuation of US$ 1,542.8 million by 2034.
People afflicted with urolithiasis problems are increasing, necessitating the use of treatments that deal with such problems. Lithotripsy is one such treatment that is seeing progress in demand due to the number of people having issues related to kidney stones, urinary tracts, and more. As a result, the market for lithotripsy devices is getting propelled.
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The growing trend in the healthcare sector is non-invasive procedures. Patients prefer procedures that minimize their discomfort as well as ones that do not see them spend a prolonged amount of time in hospitals. The treatment method is receiving a boost, with lithotripsy being a non-invasive procedure. Thus, the winds are positive for the lithotripsy device market.
However, the market also has to contend with significant problems in the future. Many patients and doctors are content with traditional methods to root out stones in the body, whether they be medication or surgeries. There are also alternative forms of treatment to lithotripsy, such as ureteroscopy and percutaneous nephrolithotomy. The side effects of lithotripsy, such as bleeding around the kidney and scarring, also make people hesitant about undertaking the procedure, further limiting the growth of the market.
Report Attribute | Details |
Value Projection (2034) | US$ 1,542.8 Million |
Growth Rate (2024-2034) | 4.3% CAGR |
No. of pages | 170 Pages |
No. of Tables | 48 Tables |
No. of Figures | 144 Figures |
“Industry experts are coming up with innovative techniques such as microbubble lithotripsy to reduce the side effects and optimize treatment procedures. Thus, technological advancement to minimize surgical procedure seems to be the way for promising market growth.” says a Fact.MR analyst.
Key Companies Profiled in This Report
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
Key Takeaways from the Market Study
The global lithotripsy device market is projected to expand at a CAGR of 4.3% through 2034.
The North American lithotripsy device market is expected to evolve at a CAGR of 3.9% from 2024 to 2034.
The lithotripsy device industry is expected to register a CAGR of 4.5% in Mexico over the forecast period.
The lithotripsy device industry in the United States is expected to rise at a CAGR of 3.8% through 2034.
Based on product type, extracorporeal lithotripsy devices lead the market, with an expected market share of 71.4% in 2024.
Launching of Novel Devices is Seen as the Key for Market Players to Stand Out
The market for lithotripsy devices is competitive, with room to play for both multinational giants and local players. The development of devices with novel forms of treatment is helping market players distinguish themselves from their competitors. Some prominent companies in the market are Richard Wolf GmbH, MedTech, Bio-Rad Laboratories, Inc., and Olympus Corporation.
In a study presented in May 2023, it was pointed out that Break Wave Lithotripsy, a handheld device requiring minimum amounts of anesthetic administration, offered positive test results.
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Recent Developments:
In May 2023, Sonomotion, a United States-based medical device startup, launched the Break Wave and Stone Clear Lithotripsy devices. These handheld devices use low ultrasound waves to fragment kidney stones.
In October 2023, Amplitude Vascular Systems announced the launch of a peripheral intravascular lithotripsy system called Pulse in 2024. The system is focused on treating intravascular disease.
Explore More Related Studies Published by Fact.MR Research:
Kidney Dialysis Equipment and Supplies Market: The global kidney dialysis equipment and supplies market is estimated to expand at 5% CAGR through 2026.
Kidney Stone Management Devices Market: The global kidney stone management devices market is valued at US$ 1.9 billion in 2023 and is forecasted to reach a revenue of US$ 3.1 billion by the end of 2033.
Artificial Kidney Market: The global artificial kidney market is valued at US$ 1.5 billion in 2023 and is predicted to surge ahead at a CAGR of 13% to reach a market size of US$ 5.3 billion by the end of 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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