Chile Extracorporeal Shock Wave Lithotripsy Market Size, Share & Trends Analysis Report By Technology (Electrohydraulic, Piezoelectric), By Application (Pancreatic Stones, Kidney Stones), And Segment Forecasts, 2021 - 2028

Report Overview

The Chile extracorporeal shock wave lithotripsy market size was valued at USD 1.49 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. The rising adoption of minimally invasive procedures, high-risk factors that cause kidney stones, such as diabetes, obesity, and renal dysfunction, and growing awareness about the advantages of extracorporeal shock wave lithotripsy (ESWL) over other conventional techniques are major contributors to the market growth. For instance, over the last 30 years, the National Health and Nutrition Examination Survey (NHANES) has shown a rising trend in the prevalence of Kidney Stones (KSs). The development of improved surgical techniques, which are replacing traditional procedures, is contributing to the growing market dynamics.

ESWL is a safe and effective method of delivering shock waves for the treatment of kidney stones. The ease of usage, noninvasive nature, cost-effectiveness, and great efficacy in the treatment of stones are the benefits of this method. Furthermore, these procedures can be conducted in outpatient departments because of the shorter turnaround time.

The focus of manufacturers on the development of technologically improved products, and faster product approvals are the factors driving the market forward. For instance, in September 2019, Dornier MedTech, a global urology company and a leader in kidney stone management, launched its new OptiVision technology. OptiVision is the first image post-processing software created to improve stone treatment results.

COVID-19 has had a significant impact on kidney stone patients, including delays in treatment, increased anxiety, and the usage of opioids. The consequences of which will be felt for a long time.

All outpatient and elective interventional procedures were limited or canceled during the COVID-19 pandemic to lessen the risk of viral transmission because most services were regarded as non-urgent. The number of urology patient beds was lowered to make space for the new COVID-19 wards, and also delays were seen in the import and export of the ESWL machines.

Increasing healthcare expenditure in Chile is further expected to contribute to the growth of the ESWL market. According to the Ministry of Foreign affairs, Chile has been increasing its percentage of GDP spent on healthcare in recent years, which is currently reaching the OECD average. The health market was predicted to be worth 404 million dollars in 2018, with a large import base (95.9 %).

Technology Insights

The Electrohydraulic Lithotripters (EHL) segment dominated the market and accounted for the largest revenue share of 55% in 2020. Electrohydraulic lithotripsy (EHL) is portable, quick, efficient, and relatively inexpensive when compared to other procedures for treating challenging stones. The increasing awareness and acceptability among physicians are expected to boost the segment growth at a significant rate over the forecast period.

The piezoelectric lithotripters segment is expected to register the fastest CAGR over the forecast period. Of all the lithotripters, the piezoelectric technique has the smallest focal zone. This minimizes impact on the nearing tissues. Also, due to the added advantages, such as the coupling mechanism and reduced use of anesthesia for patients, the procedure is anticipated to witness high demand.

Application Insights

The kidney stone segment held the largest revenue share of more than 36% in 2020 owing to the rising prevalence of kidney stones and their recurrence over time, also the rising risk factors that cause kidney stones, such as diabetes, obesity, metabolic disorders, intestinal injury, and certain medications. It is a rapidly expanding urological health issue that affects about 12% of the world’s population. In the United States, the lifetime risk of kidney stones is estimated to be 9% (with men being more likely to get them than women). Extracorporeal shock wave lithotripsy is a prominent treatment for kidney stones. It works by breaking a kidney stone into small fragments that can move through the urinary tract and pass out of the body more quickly.

The pancreatic stone segment is anticipated to witness the fastest CAGR over the forecast period. Previously it was difficult to clear big pancreatic duct calculi due to limitations of procedures; however, the advancements in ESWL, which fragment stones, is a great treatment option for these patients. Also, it is highly efficient, minimally invasive, less painful, and has a shorter hospital stay and recovery time. All these advantages of this procedure are expected to propel its demand.

End-use Insights

The hospital end-use segment accounted for the largest share of more than 42% in 2020 owing to the high occurrence of kidney stones combined with favorable reimbursement policies. The availability of technologically advanced infrastructure and medical equipment, as well as top-tier surgeons and physicians, is expected to drive the segment. Furthermore, because hospitals constitute Chile's major health care system, the number of shock wave lithotripsy treatments performed in hospitals is higher than in other healthcare settings.

The clinics segment is expected to witness the fastest CAGR during the forecast period. Some of the factors driving the clinics segment include technological advancements, reduced recovery times, and early discharge after treatment. A rising number of clinics offering ESWL is another key factor driving the segment. Furthermore, cost-effectiveness and better reimbursement options in clinics than hospitals will also support segment growth.

Key Companies & Market Share Insights

The market is highly competitive with a large number of manufacturers accounting for a majority of revenue share. Product launches, approvals, strategic acquisitions, and innovations are some of the important business strategies used by market participants to maintain and grow their global reach. For instance, In June 2020, Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, launched the SoltiveTM SuperPulsed Laser System (Soltive Laser System), a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications. Some of the major participants in the Chile extracorporeal shock wave lithotripsy market are:

• Boston Scientific Corp.

• (BD) Becton, Dickinson and Company

• Cook Medical

• Siemens Healthcare GmbH

• Lumenis

• Olympus

• Dornier MedTech

• Storz Medical AG

• MTS Medical

Chile Extracorporeal Shock Wave Lithotripsy Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the Chile extracorporeal shock wave lithotripsy market report on the basis of technology, application, and end-use:

• Technology Outlook (Revenue, USD Million, 2016 - 2028)

  • Electromagnetic

  • Electrohydraulic

  • Piezoelectric

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Kidney Stone

  • Pancreatic Stone

  • Salivary Stone

  • Other

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospital

  • Clinic

  • Other