According to FutureWise analysis the market for Lithotripsy Devices in 2023 is US$ 1.76 billion, and is expected to reach US$ 2.55 billion by 2031 at a CAGR of 4.72%.
Lithotripsy is the medical process of breaking down of kidney stones present in the kidney and other organs such as liver or gallbladder. Kidney stones, in general exit the body through urination but at times the body cannot pass large stones and it could cause severe pain, urinary tract infections, and bleeding. Therefore, breaking stones is necessary. After the breaking down of stones, the tiny pieces of stones exit the body through the urine.
Favorable reimbursement for lithotripsy procedure coupled with the rising awareness regarding kidney health is driving the growth of the market. Rising prevalence of kidney stones is anticipated to spur the size of the market. Growing demand for non-invasive treatment is also fueling the growth of the market. However, the risks of internal bleeding coupled with blood transfusions could cause potential damage to the kidney. Such factors have hindered the growth of the market.