Global Extracorporeal Shock Wave Lithotripsy Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth

Global Extracorporeal Shock Wave Lithotripsy Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027). Extracorporeal Shock Wave Lithotripsy is the commonly used treatment for kidney and ureter stones. In this, the high-intensity acoustic pulse is applied externally to crush the stone causing minimal damage to the normal tissue. The stones are broken down into smaller fragments using the shock waves.

The rise in venture capital investments coupled with the technological advancement in medical technology is due to the worldwide demand for therapeutic alternatives to surgeries augmenting the growth of the extracorporeal shock wave lithotripsy market. For instance, In 2020, the value of these investments totaled out to be around 6.3 billion U.S. dollars. Apart from this, there was the largest increase in the value of MedTech venture capital investments between 2016-2017. Moreover, the increasing preference of patients towards the minimally invasive procedures is because of the benefits associated with them such as higher patient satisfaction, economic viability, shortened hospitalization, and reduced post-procedural complications is also one of the prominent factor driving the growth of market.

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Furthermore, the changes in lifestyle and growing prevalence of stone diseases such as kidney stones, pancreatic stones, among others. For instance, according to the European Association of Urology, the prevalence rates for urinary stones vary from 1% to 20% in 2019. Also, in other countries such as Canada, Sweden, or the United States, the prevalence of renal stones is nearly 10%. Owing to these facts and the rising expenditure for the development of the technically advanced infrastructure are some of the other factors that are adding pace to the growth of the market.

Based on technology, the market is segmented into electrohydraulic technique, electromagnetic technique, and piezoelectric technique. The electrohydraulic technique segment grabbed an XX% share of the global extracorporeal shock wave lithotripsy market and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as it is one of the most accepted techniques among physicians and doctors. However, the piezoelectric technique is anticipated to witness a rapid growth rate during the projected timeframe.

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Based on the application, the global extracorporeal shock wave lithotripsy market is segmented into kidney stones, uretic stones, pancreatic stones, and salivary stones. The kidney stones segment occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 owing to the growing prevalence of kidney stones across the globe.

Additionally, the report provides detailed report also provides insights into the global extracorporeal shock wave lithotripsy market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the well-established market players and frequent product launches.

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Siemens AG, Boston Scientific Corporation, Medtrue Enterprise Co. Ltd., Karl Storz Gmbh and Co. KG, Olympus Corporation, C.R. Bard Inc., Cook Group Inc., Wikkon, Lumenis LTD, Dornier MedTech GmbH, are some of the key players operating in the global extracorporeal shock wave lithotripsy market. Several M&As along with partnerships have been undertaken by these players to develop new products.

Global Extracorporeal Shock Wave Lithotripsy Market Segmentation

Market Insight, by Technology

• Electrohydraulic Technique
• Electromagnetic Technique
• Piezoelectric Technique

Market Insight, by Application

• Kidney Stones
• Uretic Stones
• Pancreatic Stones
• Salivary Stones

Market Insight, by End-User

• Hospitals
• Clinics
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Siemens AG
• Boston Scientific Corporation
• Medtrue Enterprise Co. Ltd.
• Karl Storz Gmbh and Co. KG
• Olympus Corporation
• C.R. Bard Inc.
• Cook Group Inc.
• Wikkon
• Lumenis LTD
• Dornier MedTech GmbH