Chile Extracorporeal Shock Wave Lithotripsy Industry 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% over the forecast period.
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.
Gather more insights about the market drivers, restrains and growth of the Chile Extracorporeal Shock Wave Lithotripsy Market
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.
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 %).
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Chile Extracorporeal Shock Wave Lithotripsy Market Segmentation
Grand View Research has segmented the Chile extracorporeal shock wave lithotripsy market based on technology, application, and end-use:
Chile ESWL Technology Outlook (Revenue, USD Million, 2016 - 2028)
- Electromagnetic
- Electrohydraulic
- Piezoelectric
Chile ESWL Application Outlook (Revenue, USD Million, 2016 - 2028)
- Kidney Stone
- Pancreatic Stone
- Salivary Stone
- Other
Chile ESWL End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospital
- Clinic
- Other
Market Share Insights
- 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.
- 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.
Key Companies profiled
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
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