The lithotripsy devises market is projected to register a CAGR of 4.3%, during the forecast period, with a revenue of approximately USD 1,580 million in 2020 and expected to reach USD 2,040 million by 2026.
The major factors that are driving the market are primarily driven by the increasing incidence of urolithiasis, rise in the number of extracorporeal shock waves lithotripsy procedures, and technological advancements coupled with rising awareness. The COVID-19 has severely impacted the lithotripsy devices market, as anaesthesiologists were needed to manage the patients in acute COVID-19 crisis and, therefore, had to withdraw from elective surgery. The number of beds used for urological patients had to be reduced to dedicate beds and personnel to the new COVID-19 wards. Also, there was a need to not infect elective patients via hospital contamination. Most importantly, from a urological perspective, most of the residual urological medical staff became entirely dedicated to managing the infected patients on the newly formed COVID-19 ward. Hence, the growing cases of COVID-19 patient pool and lesser number of elective surgeries are anticipated to harm the market in the year 2020.
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. As per the European Association of Urology, 2019, the prevalence rates for urinary stones vary from 1% to 20%. In countries with a high standard of life, such as Canada, Sweden, or the United States, renal stone prevalence is notably high (> 10%). For some areas, an increase of more than 37% has been reported, over the last 20 years. It has been associated with an increased risk of end-stage renal failure. 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, largely 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 market studied.
However, apart from several advantages of the treatment, there are several risks associated with the lithotripsy treatment. This treatment sometimes leads to internal bleeding and may need a blood transfusion. It can lead to adverse side effects, where the kidney may get damaged due to blockage in the flow of urine passage caused by tiny stone particles. There are complications, such as high blood pressure, which also restrain the market. Also, the adverse effects of lithotripsy shock waves often result in hypertension, diabetes, and, in some cases, permanent loss of functional renal volume, which act as major barriers for the lithotripsy devices market.
Key Market Trends
Extracorporeal Shock Wave Lithotripsy (ESWL) Devices is Expected to Have Significant Share in the Market
Extracorporeal shock wave lithotripsy is a technique for treating stones in the kidney and ureter that do 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. The Extracorporeal Shock Wave Lithotripsy devices (ESWL) are used for the treatment of kidney and ureter stones. This technology has been utilized by physicians worldwide and is expected to increase its penetration over the coming years due to the advantages offered by such as minimal invasiveness, reduced pain, and shorter hospital stay, and quicker recovery time.
With the growing cases of COVID-19, there is a lesser number of urology surgeries being performed that has also reduced the number of extracorporeal shock wave lithotripsy (ESWL) devices during this time that is anticipated to show a slight negative impact on the market.
It is the most common lithotripsy performed outside the body, which refers to the shock wave treatment. During extracorporeal shock wave lithotripsy (ESWL), a special machine, known as lithotripter, generates high-energy shock waves, such as sound waves, X-ray, or ultrasound, which pass through the body until they hit the kidney stones.
However, it was found that ESWL was first performed in the United States. However, it has been reported that some patients may not experience a successful outcome following ESWL. ESWL, however, is only used in selected stones in the kidney and ureter. Therefore, it does not apply to all stone types or locations. Generally, this procedure is considered safe and less time-consuming, it takes only 45 minutes to perform. The growing demand for non-invasive procedures is leading to the adoption of ESWL.
Hence with the growing kidney-related disorders coupled with rising awareness across the globe likely to augment the market growth over the forecast period.
North America Holds the Largest Share of the Lithotripsy Device Market
In North America, the lithotripsy devices market is projected to have significant market growth over the forecast period. Chronic kidney diseases are estimated to common in women than in men. The number of chronic kidney diseases is found increasing globally. Kidney disease statistics for the United States convey the burden of chronic kidney disease (CKD) and end-stage renal disease (ESRD).
The outbreak of COVID-19 has brought a negative impact on the lithotripsy devices market due to the reduced number of surgeries being performed during the COVID-19 that also resulted in reduced usage of the devices. COVID-19 has also affected the market by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
According to the Centers for Disease Control and Prevention, 2019, there are around 37 million people, i.e., 1 out of every 7, or 15% of the adult population, were estimated to have chronic kidney diseases. With the increasing cases of kidney diseases, over 50,000 lithotripsy procedures are completed annually in the United States, which helps in driving the lithotripsy devices market.
Also in January 2019, Shockwave Medical has launched a US pivotal trial for its coronary lithotripsy device, which is designed to prepare heavily calcified coronary lesions for stenting. This technology uses sonic pressure waves to fracture intimal and medial calcium without damaging arterial tissue, which is likely to expand the company's business and help in driving the lithotripsy devices market in the country.
Hence 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. Also, product launches, acquisition and collaborations are expected to promote the regional market.
The lithotripsy device market is found to be competitive. The key market players operating in lithotripsy devices are EDAP TMS, Boston Scientific Corporation, Olympus Corporation, Accuron and DirexGroup among others. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them strengthen their market positions. Furthermore, companies also focusing on the widening applications of lithotripsy devices to strengthen their market over the forecast period.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Burden of Urolithiasis
- 4.2.2 Rise in Number of Extracorporeal Shock Wave Lithotripsy Procedures
- 4.2.3 Technological Advancements in Minimally Invasive Surgeries
- 4.3 Market Restraints
- 4.3.1 Adverse Effects Associated with Lithotripsy
- 4.3.2 Availability of Alternative Treatments for Stone Removal
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Extracorporeal Shock Wave Lithotripsy Devices
- 5.1.2 Intracorporeal Lithotripsy Devices
- 126.96.36.199 Laser Lithotripsy Devices
- 188.8.131.52 Electrohydraulic Lithotripsy Devices
- 184.108.40.206 Ultrasonic Lithotripsy Devices
- 220.127.116.11 Pneumatic (Ballistic) Lithotripsy Devices
- 5.2 By Application
- 5.2.1 Kidney Stones
- 5.2.2 Ureteral Stones
- 5.2.3 Pancreatic Stones
- 5.2.4 Bile Duct Stones
- 5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centers
- 5.3.3 Other End Users
- 5.4 Geography
- 5.4.1 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 126.96.36.199 Mexico
- 5.4.2 Europe
- 188.8.131.52 Germany
- 184.108.40.206 United Kingdom
- 220.127.116.11 France
- 18.104.22.168 Italy
- 22.214.171.124 Spain
- 126.96.36.199 Rest of Europe
- 5.4.3 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 Japan
- 220.127.116.11 India
- 18.104.22.168 Australia
- 22.214.171.124 South Korea
- 126.96.36.199 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 188.8.131.52 GCC
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East and Africa
- 5.4.5 South America
- 18.104.22.168 Brazil
- 22.214.171.124 Argentina
- 126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 EDAP TMS
- 6.1.2 Electro Medical Systems SA (Boston Scientific Corporation)
- 6.1.3 Olympus Americas
- 6.1.4 Dornier MedTech
- 6.1.5 Becton, Dickinson and Company
- 6.1.6 Storz Medical AG
- 6.1.7 Cook Medical LLC
- 6.1.8 Walz Elektronik GMBH
- 6.1.9 Novamedtek
- 6.1.10 Elmed Medical Systems
- 6.1.11 Karl Storz SE & Co. KG
- 6.1.12 Siemens Healthineers AG
- 6.1.13 Richard Wolf GmbH
- 6.1.14 DirexGroup
- 6.1.15 Lumenis
7 MARKET OPPORTUNITIES AND FUTURE TRENDS