At 6.4% CAGR, Europe Lithotripsy Market is Projected to be Worth US$ 648.78 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe lithotripsy market was valued at US$ 395.67 million in 2023 and is expected to reach US$ 648.74 million by 2031, registering a CAGR of 6.4% from 2023 to 2031. Rise in mobile lithotripsy services and medical reimbursement/coverage for noninvasive lithotripsy procedure are among the critical factors attributed to drive the Europe lithotripsy market growth.

Mobile lithotripsy medical units, commercial tractor-trailers, and coaches are significantly beneficial to patients. These units offer patients a new healthcare service without any requirement to set up a specialized lithotripsy center or additional investment. Patients' experience with mobile lithotripsy services is significantly improving with technological advancements. For example, in June 2021, Mobile Medical announced launching its new state-of-the-art mobile lithotripsy unit. The lithotripter device was successfully removed from the existing lithotripsy center and installed in a cab/mobile truck. Similarly, The Oklahoma Mobile Lithotripsy Associates (OMLA), a subsidiary of Oklahoma Lithotripter Associates, has continued to provide extracorporeal shockwave lithotripsy (ESWL) services to area hospitals through a lithotripsy bus/trailer since 1995. The service began with a single Dornier unit. However, with a rise in technological advancements, the units are now transported to each location in small vans, making accessibility and scheduling noninvasive lithotripsy procedures much more accessible. Currently, mobile lithotripsy service is only available in developed countries, particularly in the US, and is anticipated to grow in other countries in the future if awareness about mobile lithotripsy service is increased worldwide. Thus, the rise in mobile lithotripsy services is anticipated to create lucrative opportunities for the lithotripsy service providers in the market in the coming years.

On the contrary, the rise in product recalls by FDA hampers the growth of Europe lithotripsy market.

By product type, the Europe lithotripsy market is segmented into extracorporeal shock wave lithotripsy devices, intracorporeal lithotripsy devices, and ureteroscopic. The extracorporeal shock wave lithotripsy devices segment held 59.6% share of Europe lithotripsy market share in 2023, amassing US$ 235.80 million. It is projected to garner US$ 420.28 million by 2031 to register 7.5% CAGR during 2023-2031.

In term of application, the Europe lithotripsy market is segmented into kidney stones, ureteral stones, pancreatic stones, bile duct stones, and bladder stones. The kidney stones segment held 40.1% share of Europe lithotripsy market share in 2023, amassing US$ 158.54 million. It is projected to garner US$ 274.22 million by 2031 to register 7.1% CAGR during 2023-2031.

Based on end user, the Europe lithotripsy market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 73.9% share of Europe lithotripsy market share in 2023, amassing US$ 292.31 million. It is projected to garner US$ 499.42 million by 2031 to register 6.9% CAGR during 2023-2031.

Based on country, the Europe lithotripsy market is categorized into the UK, Germany, France, Spain, Italy, and the Rest of Europe. Our regional analysis states that Germany captured 26.2% share of Europe aircraft brackets market in 2023. It was assessed at US$ 103.82 million in 2023 and is likely to hit US$ 174.25 million by 2031, registering a CAGR of 6.7% during 2023-2031.

Key players operating in the Europe lithotripsy market are 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, among others.

• April-2024: Olympus announced RenaFlex single-use flexible ureteroscope system used to access and visualize the urinary tract to diagnose and treat urinary diseases and disorders such as kidney stones. This new product works in collaboration with combination with the compatible "CV-S1 Video System" for flexible single-use endoscopes.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com