Extracorporeal shock wave lithotripsy (ESWL) is a non-invasive medical procedure used for breaking up kidney stones and gallbladder stones using shock waves. ESWL reduces the need for surgery and provides shorter recovery time. The global Extracorporeal Shock Wave Lithotripsy Market is estimated to be valued at US$ 443 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of kidney stones disease globally is the major factor accelerating the growth of the extracorporeal shock wave lithotripsy market. According to the National Kidney Foundation, approximately 1 in 11 people will develop kidney stones in their lifetime. The occurrence of kidney stones is rising specially in the men between 30-60 years of age. According to the data published by American Urological Association in 2018, kidney stone occurrence rate in men has increased from 3.8% in the early 1970s to 8.8% in the early 2010s. Early diagnosis and advancements in non-invasive treatments technologies like ESWL are helping patients to avoid surgery, thus driving the market growth.
Segment Analysis
The global extracorporeal shock wave lithotripsy market (ESWL) is dominated by mobile lithotripters or transportable machines sub-segment. The segment held around 65% share of the overall market in 2023 owing to the benefits offered such as portability enabling treatment at multiple locations and rooms. The machines are compact in size, self-contained units that deliver the shock waves.
Key Takeaways
The Global Extracorporeal Shock Wave Lithotripsy Market Demand is expected to witness high growth. The market is projected to rise at a CAGR of over 7% during the forecast period owing to increasing prevalence of urolithiasis and technological advancements.
North America region currently dominates the ESWL market and is expected to continue its dominance during the forecast period. This is attributed to the presence of major players, higher disposable incomes, developed healthcare infrastructure and rising cases of urinary stones in the region. The Asia Pacific region is anticipated to witness fastest growth during the forecast years owing to large patient population, increasing awareness regarding treatment and growing healthcare expenditure.
Key players operating in the extracorporeal shock wave lithotripsy market are William Grant & Sons, Pernod Ricard, Diageo Plc, Bacardi Limited, Suntory Holdings, Aceo Ltd. The major players are focusing on new product launches and geographical expansion to gain higher market share. For instance, in 2021, Dornier MedTech launched new Delta III lithotripter system with advanced imaging capabilities for lithotripsy procedures.
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https://www.newswirestats.com/extracorporeal-shock-wave-lithotripsy-market/
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