by Extracorporeal shock wave lithotripsy (ESWL) is a noninvasive method used to break up kidney stones and gallstones into smaller fragments by using shockwaves generated outside the body. ESWL uses high-energy shockwaves to fragment urinary stones without requiring invasive surgery. Shockwaves are directed at the kidney stones from outside the body through the skin and surrounding tissues. As the shock waves pass through the skin, they do not damage the skin but instead break up the stones into sand-like particles that can then pass out of the body in the urine. ESWL is considered beneficial for treating kidney stones between 4mm – 20mm in size as it does not require incision and anesthesia compared to other surgical methods.
The global extracorporeal shock wave lithotripsy market is estimated to be valued at US$ 443 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing geriatric population is the major driver for the growth of extracorporeal shock wave lithotripsy market. As per the United Nations Department of Economic and Social Affairs, the number of people aged 60 years or over is expected to more than double by 2050 and more than triple by 2100, rising from 962 million globally in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100. Elderly population is at higher risk of developing urinary calculi (kidney stones) due to lifestyle related factors and age-related declining renal functions. According to literature sources, about 1 in 11 people will have a kidney stone during their lifetime with highest prevalence seen in people aged between 40-60 years. Therefore, growing geriatric population base more susceptible to develop kidney stones will positively influence the demand for ESWL services over the forecast period.
Porter’s Analysis
Threat of new entrants: The Extracorporeal Shock Wave Lithotripsy market requires significant capital and technology investments which acts as a barrier for new players.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several established players providing ESWL devices. However, the need for quality healthcare services increases their dependence on existing players.
Bargaining power of suppliers: A few large players dominate the supply of core components like shock waves generators, which gives them strong bargaining power over device manufacturers.
Threat of new substitutes: Though newer minimally invasive treatments are emerging, ESWL remains the first line of treatment for many types of stones due to its effectiveness and cost benefits.
Competitive rivalry: The market is consolidated with major players like Dornier MedTech, EDAP TMS, Richard Wolf, Siemens Healthineers and Storz Medical dominating the market. Intense competition drives innovation.
Key Takeaways
The Global Extracorporeal Shock Wave Lithotripsy Market Demand is expected to witness high growth.
Regional Analysis: North America currently dominates the market due to developed healthcare infrastructure and faster adoption of advanced medical technologies. Rising prevalence of urolithiasis in the region boosts the demand for ESWL procedures.
The European market also holds significant share owing to increasing research on improving lithotripsy technologies. Developing regions like Asia Pacific are expected to showcase fastest growth due to growing medical tourism, rising healthcare spending and expanding target patient population.
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. These established manufacturers are focusing on new product launches and geographic expansion to strengthen their market position.
