According to our new research study on "Lithotripsy Market Size and Forecast to 2031 -Impact and Country Analysis - by Product Type, Application, and End User," the lithotripsy market size is projected to grow from US$ 1.4 billion in 2023 to US$ 2.3 billion by 2031; the market is estimated to record a CAGR of 6.6% during 2023-2031. The lithotripsy market report emphasizes key driving factors such as medial reimbursement/coverage for noninvasive lithotripsy procedure. However, rise in product recalls by the FDA impede the market growth. The preference for lithotripsy technique in coronary lesion treatment are likely to remain key lithotripsy market trends.

Market Opportunity

Rise in Mobile Lithotripsy Services

Mobile lithotripsy medical units, commercial tractor-trailers, and coaches are significantly beneficial to patients. These units offer patients a new healthcare service without any requirement to set up a specialized lithotripsy center or additional investment. Patients' experience with mobile lithotripsy services is significantly improving with technological advancements. For example, in June 2021, Mobile Medical announced launching its new state-of-the-art mobile lithotripsy unit. The lithotripter device was successfully removed from the existing lithotripsy center and installed in a cab/mobile truck. Similarly, The Oklahoma Mobile Lithotripsy Associates (OMLA), a subsidiary of Oklahoma Lithotripter Associates, has continued to provide extracorporeal shockwave lithotripsy (ESWL) services to area hospitals through a lithotripsy bus/trailer since 1995. The service began with a single Dornier unit. However, with a rise in technological advancements, the units are now transported to each location in small vans, making accessibility and scheduling noninvasive lithotripsy procedures much more accessible. Currently, mobile lithotripsy service is only available in developed countries, particularly in the US, and is anticipated to grow in other countries in the future if awareness about mobile lithotripsy service is increased worldwide. Thus, the rise in mobile lithotripsy services is anticipated to create lucrative opportunities for the lithotripsy service providers in the market in the coming years.

Future Trend

Preference for Lithotripsy Technique in Coronary Lesion Treatment

Traditionally, lithotripsy is the most recommended noninvasive procedure for kidney stone removal. However, manufacturers are studying lithotripsy medical devices that can be utilized for several other healthcare applications, including the treatment of coronary lesions. With the rise in the aging population, there is a high risk of patients suffering from coronary lesions. Currently, several challenges are associated with coronary intervention, including dissections/incisions. Also, only a few methods are available to manage calcified coronary lesions, including interventional balloons and rotational atherectomy. Furthermore, incisions and incorporating balloons do not remove calcium deposits as they only improve vessel compliance by creating incisions. Such uncontrolled incisions can lead to a high risk of vessel perforation and increased chances of myocardial infarction among patients undergoing cardiac surgery. The new technology of shockwave lithotripsy is set to revolutionize disease treatment through the proper management of severely calcified coronary lesions. In February 2021, the FDA announced approval for a shockwave intravascular lithotripsy (IVL) system for the treatment of severely calcified coronary artery plaques. For example, Shockwave Medical Inc.'s SHOCKWAVE IVL removes coronary lesions by reducing the risk of complications and making the procedure safe and efficient. Thus, preference for the lithotripsy technique in coronary lesion treatment is anticipated to fuel the lithotripsy market growth in the coming years.

Report Segmentation and Scope:

Key segments that contributed to the derivation of the lithotripsy market analysis are product type, application, and end user.

- Based on product type, the lithotripsy market is divided into extracorporeal shock wave lithotripsy devices and intracorporeal lithotripsy devices, and ureteroscopic. The extracorporeal shock wave lithotripsy devices segment held a larger market share in 2023.

- By application, the market is segmented into kidney stones, ureteral stones, pancreatic stones, bile duct stones, and bladder stones. The kidney stones segment held the largest share of the market in 2023.

- In terms of end user, the market is categorized into hospitals, specialty clinics, and others. The hospitals segment dominated the market in 2023.

Edap Tms SA, Becton Dickinson and Co, Olympus Corp, Cook Medical Holdings LLC, Boston Scientific Corp, Karl Storz SE & Co KG, DirexGroup, Dornier MedTech, ELMED Medical Systems, EMS+, NOVAmedtek, and Potent Medical are among the key companies operating in the lithotripsy market. Leading players adopt strategies such as launching new products, expanding and diversifying their market presence, and expanding new customer base to tap prevailing business opportunities.

Industry Developments and Future Opportunities:

Various strategic developments by leading players operating in the lithotripsy market are listed below:

- Shockwave Medical, Inc. announced new product launch "Shockwave L6 Peripheral IVL Catheter" clearance by the US Food and Drug Administration (USFDA). The new product is an advanced product with functionalities such as compact emitter configuration, in conjunction with the four new device sizes (8.0, 9.0, 10.0, and 12.0 millimeter diameters), that enables effective delivery of sonic pressure waves in large vessels. (Source: Shockwave Medical, Inc Company Website, March 2023).

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