New York, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global extracorporeal shock wave lithotripsy market size is predicted to expand at ~6% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 1 billion by the end of 2035, up from a revenue of ~USD 400 million in the year 2022.The rising popularity of minimally invasive therapies such as kidney stone extracorporeal shockwave therapy as well as the escalating advancements in the healthcare infrastructure worldwide, together with rising healthcare spending, are projected to propel market growth in the forecast period.
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According to the World Health Organization, global spending on health rose consistently between 2000 and 2018 and hit USD 8.3 trillion, or 10% of global GDP. Moreover, the surging investments by key market players to develop extracorporeal procedures for treating kidney stones will boost market growth in the upcoming years.
Extracorporeal Shock Wave Lithotripsy (ESWL) Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- Kidney Stones segment to garner the highest growth
- Market in North America to grow at the highest rate
Growing Cases of Kidney Stones to Boost Market Growth
The growth of the ESWL market can be primarily attributed to the increasing prevalence of kidney stones with the rising ubiquity of various lifestyle-related disorders such as obesity owing to the uptrend in anxiety, stress, smoking, drinking, and junk foods, especially a high-sodium diet. According to one study, nearly 11% of men and 6% of women in the United States will develop kidney stones at some point in their lives. Furthermore, changing healthcare professional preferences in treating urolithiasis, renal stones, or renal calculi with nonsurgical techniques and outpatient procedures for the treatment of nephrolithiasis with reduced recovery time are expected to drive market growth during the forecast period. As per research, around 2,000 to 3,000 shock waves are needed to crush the stones, and the complete lithotripsy treatment takes about 45 to 60 minutes.
Global Extracorporeal Shock Wave Lithotripsy (ESWL) Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Lifestyle Changes to Drive Growth in the Asia-Pacific Region
The extracorporeal shock wave lithotripsy (ESWL) market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The market in the region is estimated to witness noteworthy growth owing to the presence of the largest pool of population and the rapidly increasing GDP per capita income of the middle-class population in the region, which is responsible for the changing lifestyle of the masses that has resulted in rising obesity in the region. According to a recent projection, 2 out of every 5 adults in the Asia and Pacific region are either overweight or obese. Furthermore, the flourishing healthcare industry in countries such as India and China, as well as the increasing medical tourism, besides the rising investments in the development of preventive treatment to reduce the risk of recurrent kidney stones, is expected to further escalate the regional market growth in the forecast period.
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Increasing Demand for Non-invasive Kidney Stones Treatment to Drive Growth in the North American Region
The extracorporeal shock wave lithotripsy market in the North American region is estimated to garner the highest CAGR by the end of 2035. The market growth in the region is predominantly backed by the rising per capita healthcare spending in the region owing to the increasing number of diabetic and obese patients who are more prone to the development of kidney stones. Moreover, the increasing number of medical trials to treat kidney stones without an incision, or hospital stays and reduced recovery time, besides rising expenditure on developing drug treatments such as calcium channel blockers (nifedipine), steroids, and alpha-adrenergic blockers to dissolve stones with medication, as well as research on drugs such as K-citrate, thiazides, or allopurinol to prevent new stones from developing, is also estimated to boost the regional market. It is found that, post SWL almost 50% of people become stone free within a month.
Extracorporeal Shock Wave Lithotripsy (ESWL), Segmentation by Application
- Kidney Stones
- Biliary Calculi
- Salivary Stones
- Pancreatic Stones
- Others
The kidney stones segment in extracorporeal shock wave lithotripsy market is anticipated to hold the largest revenue by the end of 2035. The segment growth in the forecast period is backed by the increasing prevalence of kidney stones in people of both young and old age, along with the rising need to treat kidney stones in a safe and effective manner with reduced symptoms (such as pain). A study reported augmenting incidences of kidney stones among young patients in America. There was a ~26% rise in 5 years for those suffering from kidney stones between the ages of 15 and 19. Furthermore, as per research, stones less than 10 mm in size can be successfully treated with minimally invasive procedures such as ESWL. whereas for stones 10 to 20 mm in size, additional factors such as stone composition and stone location should be considered.
Extracorporeal Shock Wave Lithotripsy (ESWL), Segmentation by End-User
- Hospitals
- Clinics
- Radiology Labs
- Others
The hospitals segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the rising footfall of urological patients in hospitals as well as increasing demand for minimally invasive therapies backed by the emergence of advanced technologies and the development of healthcare infrastructure. The increase in the number of hospitals worldwide as well as the rising spending in the healthcare sector, together with initiatives to reduce extracorporeal shock wave lithotripsy costs globally, are also responsible for the segment growth. For instance, the projections by the Centers for Medicare & Medicaid Services (CMS) estimated that the average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 when compared to 2019 (4.5%). Furthermore, national health spending is expected to reach USD 6,192.5 billion in 2028.
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A few of the well-known industry leaders in the extracorporeal shock wave lithotripsy market that are profiled by Research Nester are Siemens AG, Boston Scientific Corporation, C.R. Bard Inc., Cook Group Inc., Medtrue Enterprise Co. Ltd., Jiangsu Sainty Handsome Co., Ltd., Lumenis LTD., Olympus Corporation, Dornier MedTech GmbH, Karl Storz Gmbh and Co. KG, and other key market players.
Recent Development in the Extracorporeal Shock Wave Lithotripsy (ESWL) Market
- Storz Medical AG, an independent partner company of the Karl Storz Group received clearance from the U.S. Food and Drug Administration (FDA) for MODULITH SLX-F2 extracorporeal shock wave lithotripter. Children over the age of 3 years suffering from stone disease can now be treated non-invasively with the help of this device.
- Dornier MedTech GmbH launched UroX, a community that connects professionals from various disciplines to cultivate innovative solutions and solve complex challenges in urology.
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