PUBLISHER: The Insight Partners | PRODUCT CODE: 1764917
PUBLISHER: The Insight Partners | PRODUCT CODE: 1764917
The North America lithotripsy market was valued at US$ 612.84 million in 2023 and is expected to reach US$ 1,039.50 million by 2031; it is estimated to register a CAGR of 6.8% from 2023 to 2031.
Medical Reimbursement/Coverage for Noninvasive Lithotripsy Procedure Fuels North America Lithotripsy Market
Surgery is a traditional treatment option for patients suffering from kidney stones. These surgeries include nephrectomy and endoscopic treatment of the urethra. However, in the past few years, several new approaches have been developed such as noninvasive lithotripsy techniques for the treatment of upper urinary tract kidney stones. Patients are gradually shifting toward noninvasive procedures owing to increased awareness. According to the US Centers for Medicare & Medicaid Services, all traditional and noninvasive lithotripsy techniques are medically insured/reimbursed. These noninvasive lithotripsy techniques include extracorporeal shock wave lithotripsy, percutaneous lithotripsy, and transurethral ureteroscopic lithotripsy. Therefore, medical coverage/reimbursement for noninvasive lithotripsy procedures leads to an increase in patient visits to specialized lithotripsy centers and hospitals, which fuels the market growth.
North America Lithotripsy Market Overview
The lithotripsy market growth in North America is attributed to advancements in the technologies used in the development of lithotripsy devices, surging kidney stone cases, and fast product approvals for high-quality healthcare and patient safety. The aforementioned factors are responsible for influential growth of lithotripsy in North America regional market during 2021-2031. According to the Korean Urological Association report, the prevalence of nephrolithiasis (kidney stone) is significantly high in the US. The BD company website reveals that kidney stones affect 1 in 11 people in the US annually, causing a considerable healthcare burden and high cost of treatment. The length of time from diagnosis to treatment takes approximately 18 days, with ~50% of the patients recommended to perform lithotripsy procedures [the majority are treated with extracorporeal shockwave lithotripsy (ESWL)] by physicians. Additionally, the most commonly recommended noninvasive procedure in the US is lithotripsy.
North America Lithotripsy Market Revenue and Forecast to 2031 (US$ Million)
North America Lithotripsy Market Segmentation
The North America lithotripsy market is categorized into product type, application, end user, and country.
By product type, the North America lithotripsy market is segmented into extracorporeal shock wave lithotripsy devices, intracorporeal lithotripsy devices, and ureteroscopic. The extracorporeal shock wave lithotripsy devices segment held the largest share of the North America lithotripsy market share in 2023.
In term of application, the North America lithotripsy 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 North America lithotripsy market share in 2023.
Based on end user, the North America lithotripsy market is segmented into hospitals, specialty clinics, and others. The hospitals segment held the largest share of the North America lithotripsy market share in 2023.
Based on country, the North America lithotripsy market is segmented into the US, Canada, and Mexico. The US segment held the largest share of North America lithotripsy market in 2023.
Becton Dickinson and Co, Boston Scientific Corp, Cook Medical Holdings LLC, DirexGroup, Dornier MedTech, Edap Tms SA, ELMED Medical Systems, EMS Electro Medical Systems SA (EMS+), Karl Storz SE & Co KG, NOVAmedtk, Olympus Corp, and Potent Medical are some of the leading companies operating in the North America lithotripsy market.