Lithotripters Market Size, Share, Industry Trends and Forecast to 2030

Lithotripters Market Size & CAGR in 2021

The global lithotripters market is anticipated to reach a value of USD 750 million by the end of 2021, with a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. The rise in prevalence of kidney stones and technological advancements in lithotripsy procedures are key factors driving the growth of the market in 2021.

COVID-19 Impact on the Lithotripters Market

The COVID-19 pandemic had a mixed impact on the lithotripters market in 2021. While there was a temporary slowdown in elective procedures due to lockdowns and restrictions, the market saw a surge in demand for lithotripsy procedures as hospitals resumed normal operations. Additionally, the need for minimally invasive treatment options during the pandemic boosted the market for lithotripters.

Lithotripters Dynamics

The lithotripters market is driven by factors such as the increasing prevalence of kidney stones, advancements in lithotripsy technology, and a growing geriatric population. The demand for minimally invasive treatment options and the rise in outpatient procedures are also shaping the dynamics of the market in 2021.

Segments and Related Analysis

The global lithotripters market can be segmented based on product type, end-users, and geography. Product types include extracorporeal shock wave lithotripsy (ESWL), intracorporeal lithotripsy, and percutaneous lithotripsy. End-users of lithotripters are hospitals, clinics, and ambulatory surgical centers.

By Region Analysis

The market for lithotripters is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2021 due to the high prevalence of kidney stones and the presence of advanced healthcare infrastructure. However, the Asia Pacific region is expected to witness significant growth during the forecast period.

Key Market Players and Competitive Landscape

Key players in the lithotripters market include Boston Scientific Corporation, Siemens Healthineers, Olympus Corporation, Cook Medical, and Dornier MedTech. These companies are focusing on research and development activities, strategic partnerships, and product launches to maintain their competitive edge in the market.

Recent Happenings in the Lithotripters Market

In recent years, the lithotripters market has witnessed several developments, including the introduction of advanced lithotripsy systems with enhanced imaging capabilities and improved treatment outcomes. Companies are also investing in expanding their product portfolios and entering into new markets to capitalize on the growing demand for lithotripsy procedures.

Overall, the lithotripters market is poised for significant growth in 2021 and beyond, driven by technological advancements, increasing prevalence of kidney stones, and the shift towards minimally invasive treatment options.