Extracorporeal Shock Wave Lithotripsy Market Share

North American Market Forecast

North America industry is estimated to hold largest revenue share of 32% by 2037. The growth of the market can be attributed to the presence of a large number of diabetic and obese patients who are prone to the development of kidney stones and gallstones which is estimated to increase the requirement of extracorporeal shock wave lithotripsy (ESWL) for treatment. According to the American Diabetes Association, 37.3 million Americans in 2019 were suffering from diabetes, with about 1.9 million people experiencing type 1 diabetes, including about 244,000 children. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to develop advanced medical products and treatments are also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry and rising commercialization of medical products are also anticipated to boost market growth during the forecast period.

APAC Market Statistics

On the other hand, the market in the Asia Pacific region is also estimated to garner a significant market share of 23% with a steady CAGR value by the end of the forecast value. The burgeoning geriatric population who are more prone to develop stones in the body and the presence of a large pool of patients in the region is majorly contributing positively to market growth. In addition to other, the expansion of ASEAN and Japan digital advertising in pharma and medical equipment is also estimated to increase the awareness level of extracorporeal shock wave lithotripsy (ESWL) among the population and aid the expansion of the market in the region.

Europe Market Forecast

Further, the European market, amongst the market in all the other regions is also projected to hold a noteworthy share of the market by the end of the analysis period. The factors that are expected to contribute positively to market expansion in the region are rising research and development activities along with the proven success in the development of extracorporeal shock wave lithotripsy (ESWL) as an efficient treatment method. In addition, the rising prevalence of various types of chronic, cardiovascular, and non-communicable diseases and disorders among the European people is also estimated to create a favorable outlook for market growth during the forecast period.