At 5.1% CAGR, South & Central America Lithotripsy Market is Projected to be Worth US$ 153.32 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America lithotripsy market was valued at US$ 103.15 million in 2023 and is expected to reach US$ 153.32 million by 2031, registering a CAGR of 5.1% from 2023 to 2031. Preference for lithotripsy technique in coronary lesion treatment and medical reimbursement/coverage for noninvasive lithotripsy procedure are among the critical factors attributed to drive the South & Central America lithotripsy market growth.

Traditionally, lithotripsy is the most recommended noninvasive procedure for kidney stone removal. However, manufacturers are studying lithotripsy medical devices that can be utilized for several other healthcare applications, including the treatment of coronary lesions. With the rise in the aging population, there is a high risk of patients suffering from coronary lesions. Currently, several challenges are associated with coronary intervention, including dissections/incisions. Also, only a few methods are available to manage calcified coronary lesions, including interventional balloons and rotational atherectomy. Furthermore, incisions and incorporating balloons do not remove calcium deposits as they only improve vessel compliance by creating incisions. Such uncontrolled incisions can lead to a high risk of vessel perforation and increased chances of myocardial infarction among patients undergoing cardiac surgery. The new technology of shockwave lithotripsy is set to revolutionize disease treatment through the proper management of severely calcified coronary lesions. In February 2021, the FDA announced approval for a shockwave intravascular lithotripsy (IVL) system for the treatment of severely calcified coronary artery plaques. For example, Shockwave Medical Inc.'s SHOCKWAVE IVL removes coronary lesions by reducing the risk of complications and making the procedure safe and efficient. Thus, preference for the lithotripsy technique in coronary lesion treatment is anticipated to fuel the South and Central America lithotripsy market growth in the coming years.

On the contrary, rise in product recalls by FDA hampers the growth of South & Central America lithotripsy market.

By product type, the South & Central America lithotripsy market is segmented into extracorporeal shock wave lithotripsy devices, intracorporeal lithotripsy devices, and ureteroscopic. The extracorporeal shock wave lithotripsy devices segment held 62.1% share of South & Central America lithotripsy market share in 2023, amassing US$ 64.04 million. It is projected to garner US$ 100.21 million by 2031 to register 5.8% CAGR during 2023-2031.

In term of application, the South & Central America lithotripsy market is segmented into kidney stones, ureteral stones, pancreatic stones, bile duct stones, and bladder stones. The kidney stones segment held 38.8% share of South & Central America lithotripsy market share in 2023, amassing US$ 40.04 million. It is projected to garner US$ 62.30 million by 2031 to register 5.7% CAGR during 2023-2031.

Based on end-user, the South & Central America lithotripsy market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 72.5% share of South & Central America lithotripsy market share in 2023, amassing US$ 74.75 million. It is projected to garner US$ 115.78 million by 2031 to register 5.6% CAGR during 2023-2031.

Based on country, the South & Central America lithotripsy market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 61.4% share of South & Central America aircraft brackets market in 2023. It was assessed at US$ 63.29 million in 2023 and is likely to hit US$ 98.39 million by 2031, registering a CAGR of 5.7% during 2023-2031.

Key players operating in the South & Central America lithotripsy market are Becton Dickinson and Co, Boston Scientific Corp, DirexGroup, 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