Lithotripsy is a medical procedure which involves breaking stones present in the bladder, kidney, and ureter into tiny pieces through the use of high-energy shock waves so that they can be easily passed through the urine. Lithotripsy is the most common line of treatment for kidney stones. The global lithotripsy market is anticipated to capture a moderate CAGR of 4.1 % over the forecast period. The global lithotripsy market is likely to attain USD 524.9 Mn by the end of 2023.
The growing prevalence of urological disorders is one of the main factors boosting the growth of the global lithotripsy market. Additionally, one of the main advantages associated with lithotripsy is that it does not involve any incision. Growing preference for minimally -invasive and noninvasive medical procedures is a prime factor augmenting the growth of the market.
Increasing investment by market players on the development of novel devices and innovation has resulted in various product launches which are expected to augur market growth over the forecast period. Other factors fostering market growth include improvement in reimbursement scenario, the rise in the aging population, and spreading awareness regarding the procedure.
However, very large stones cannot be treated with lithotripsy and lithotripsy is not suitable for every patient who might impede the growth of the market over the forecast period. Moreover, lithotripsy is not suitable for pregnant women, people with bleeding disorders, morbidly obese people, and people with severe skeletal abnormalities. The underlying potential risk of causing injuries to the kidney is also a factor which restricts patients to opt for the procedure. However, advancements in technology and innovation in procedures is likely to present growth opportunities to the global lithotripsy market.
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Global Lithotripsy Market – Key Players
Some of the fervent key players driving the market include DIREX, S.L. (Spain), Boston Scientific (US), Dornier MedTech. (Germany), Elmed Electronics & Medical Industry & Trade Inc. (Turkey), EDAP TMS (France), Jena Med Tech GmbH (Germany), Olympus Corporation (Japan), Medispec LTD (US), Siemens Healthcare GmbH (Germany), and STORZ MEDICAL AG (Switzerland)
Global Lithotripsy Market – Competitive Landscape
The Global Lithotripsy Market is fiercely competitive with the presence of several large and small players forming the competitive landscape in the market. These market players acquire promising companies to expand in the fast-growing markets, focusing on improving their market performance. The structure of the market is changing due to the acquisition of local manufactures by the multinational companies. Strategies like product innovations and technologies are creating strong investment opportunities for the market players.
Industry, Innovation & Related News
April 23, 2018 — Shockwave Medical, Inc. (US), a pioneer in the treatment of calcified cardiovascular disease, announced CE Mark and European commercial availability of the Shockwave S4 Peripheral Intravascular Lithotripsy (IVL) Catheter. Intravascular Lithotripsy is an innovative therapy designed to treat calcified leg artery blockages with lithotripsy – sonic pressure waves historically used to treat patients with kidney stones.
Lithotripsy Market – Segmentation
The MRFR analysis is segmented into three key dynamics;
By Types: Extracorporeal shock wave lithotripsy (ESWL), Intracorporeal (Endoscopic Lithotripsy, Laser Lithotripsy, Electrohydraulic Lithotripsy, Mechanical Lithotripsy, and Ultrasonic Lithotripsy.), and Percutaneous lithotripsy, among others.
By End-Users: Hospitals and clinics, Research laboratories, and Academic Institutes, among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
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Lithotripsy Market – Regional Analysis
Considering the global scenario of the lithotripsy market, Americas is holding largest market share in global lithotripsy market in 2016. While the European market is second largest market and Western Europe region is the growing with the fastest rate and accounts largest share in European market due to rising healthcare expenditure and increasing awareness for the new products and therapies. On the other hand, Asia-Pacific region will be fastest growing market for lithotripsy during the forecast period. Middle East and Africa is expected to grow at steady pace during the forecast period.
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