The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global lithotripsy devices market is expected to grow from $1.14 billion in 2022 to $1.21 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The size of lithotripsy devices market is expected to reach $1.46 billion in 2027 at a CAGR of 4.7%.

North America held the largest lithotripsy devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Lithotripsy Devices Market Driver
The growing geriatric population across the globe is expected to propel the growth of the lithotripsy device market going forward. The geriatric population refers to a specific age group consisting of individuals who are typically 65 years of age or older. The rise in the number of patients with kidney stones and urolithiasis, primarily among the growing geriatric population, necessitates using lithotripsy devices to perform minimally invasive methods to remove kidney stones and provide treatment for urolithiasis in this specific demographic. For instance, according to the United Nations Department of Economic and Social Affairs’ September 2020 report, the population aged 65 and above is projected to rise from 9.3% in 2020 to around 16.0% in 2050. Furthermore, according to October 2021 published factsheet by World Health Organization, there will be 1.4 billion individuals over the age of 60 in the world by 2030, up from 1 billion in 2020. Therefore, the growing geriatric population across the globe is driving the growth of the lithotripsy device market going forward.

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Prominent Lithotripsy Devices Market Trend
Technological advancements are a key trend gaining popularity in the lithotripsy device market. Major companies operating in the lithotripsy device market are developing technologically advanced devices to sustain their position in the market. For instance, in January 2022, Cardiovascular Systems Inc., a US-based lithotripsy and other medical device manufacturer, developed intravascular lithotripsy technology for coronary and peripheral artery diseases. Intravascular lithotripsy technology is an innovative treatment system for coronary and peripheral artery disease patients. This technology allows Cardiovascular Systems Inc to offer products that treat a broad range of calcific coronary lesions.

Lithotripsy Devices Market Prominent Players
Major players in the lithotripsy devices market are Siemens AG, Becton Dickinson and Company, Boston Scientific Corporation, Cook Medical LLC, Shockwave Medical Inc., Lumenis Ltd., EDAP TMS S.A., Dornier MedTech GmbH, Electro Medical Systems S.A., Allengers Medical Systems Limited, DirexGroup, Medispec Ltd., Elmed Medical Systems Ltd., Convergent Laser Technologies, MTS Medical, NOVAmedtek LLC, EMD Medical Technologies, NIDHI Meditech Systems (NMS), Olympus Scientific Solutions Americas Corporation, Richard Wolf India Private Ltd., Karl Storz SE & Co. KG, Technomed Systems Private Limited, Shenzhen Wikkon Medical Apparatus Co. Ltd., Inceler Medikal Ltd. Sti, and Cliniva Healthcare.

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Key Lithotripsy Devices Market Segments
The global lithotripsy devices market is segmented –
1) By Type: Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices, Laser Lithotripsy Devices, Electrohydraulic Lithotripsy Devices, Ultrasonic Lithotripsy Devices, Mechanical Lithotripsy Devices
2) By Applications: Kidney Stones, Ureteral Stones, Pancreatic Stones, Bile Duct Stones
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users

The Lithotripsy Devices Global Market Report 2023  provides a comprehensive overview on the lithotripsy devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the lithotripsy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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