The global extracorporeal shock wave lithotripsy market is poised to witness significant growth owing to rising prevalence of kidney stone disease across the world. Extracorporeal shock wave lithotripsy (ESWL) is a non-invasive medical procedure used to treat stones present in the kidneys, ureter, or bile duct. It employs focused shock waves to fragment stones present inside the body into smaller pieces, which are passed out naturally through urine. Growing geriatric population prone to stone formation, rising awareness about minimally invasive treatment procedures and technological advancements in lithotripters are some key factors augmenting the market growth.
The Global Extracorporeal Shock Wave Lithotripsy Market is estimated to be valued at Us$ 510.34 Mn in 2024 and is expected to exhibit a CAGR Of 7.2% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the extracorporeal shock wave lithotripsy market are William Grant & Sons, Pernod Ricard, Diageo Plc, Bacardi Limited, Suntory Holdings, Aceo Ltd., Ben Nevis Distillery, Edrington, Louis Vuitton Moët Hennessy and Gordon & MacPhail. These players are focusing on new product launches and geographical expansion to gain competitive advantage in the market.
The key opportunities in the extracorporeal shock wave lithotripsy market include growing trend of minimally invasive surgeries, favorable reimbursement policies for ESWL procedures in developed regions and untapped potentials in emerging economies.
Globally, the extracorporeal shock wave lithotripsy market players are expanding their footprint in Asia Pacific and Latin America owing to rising medical tourism, growing healthcare expenditure and increasing incidences of urolithiasis in these regions. In Asia Pacific, countries like India, China and Japan present lucrative growth prospects for market participants.
Market Drivers
- Rising geriatric population prone to stone formation- Population aging predisposes people to urinary stone disease. Growing geriatric demographic globally is slated to push up the demand for ESWL over the coming years.
- Technological advancements in lithotripters- Ongoing R&D efforts have led to development of advanced lithotripters with enhanced efficacy and reduced treatment duration. This, coupled with ongoing roboticization of lithotripters is boosting the uptake of ESWL.
Market Restrains
- Preference for minimally invasive surgeries- Growing preference for minimally invasive surgeries like percutaneous nephrolithotomy threatens the demand for ESWL to some extent.
- Risk of Steinstrasse formations- ESWL procedures carry a small risk of Steinstrasse formations, which requires additional medical intervention. This can deter some patients from opting for ESWL.
Segment Analysis
The extracorporeal shock wave lithotripsy market is dominanted by the hospital segment. The hospital sub-segment accounts for over 60% of the global market share. This is because ESBL procedures are majorally carried at hospitals owing to availability of better infrastructure and equipment. Outpatient centers segments is witnessing fasted growth owing to increasing preference for non-invasive treatment procedures.
Global Analysis
The Global Extracorporeal Shock Wave Lithotripsy Market Regionally, North America dominates the global extracorporeal shock wave lithotripsy market and accounts for around 35% share. Favourable reimbursement policies and increasing patient awareness about non-invasive lithotripsy procedures is driving the growth of the North America market. Asia Pacific is identified as the fastest growing region. Growing healthcare expenditure, presence of large patient pool and increasing medical tourism are some factors attribuitng to the growth of APAC market. China and India are expected to offer high growth opportunities for players during the forecast period.
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