Researchstore.biz launched a study titled “Global Lithotripsy Devices Market by Type (Extracorporeal Shock Wave, Intracorporal), Applications (Kidney Stones, Ureteral Stones, Bile Duct Stones, Pancreatic Stones), End User (Hospital, Ambulatory Surgical Centers, Other), Region (North America, Europe, Asia Pacific, South America and Middle East and Africa)” and Global Forecast 2018-2025.
The global lithotripsy devices market is expected to grow from USD 1,768.01 million in 2017 to USD 2,640.15 million by 2025 at a CAGR of 5.14% during the forecast period from 2018-2025. Major drivers that fuel the growth of lithotripsy devices market are:
- Growing occurrence of urolithiasis
- Hi-tech developments in lithotripsy devices
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Lithotripsy devices helps in breaking stones in the kidney and in other organs by giving ultrasound shock wave. It is used when any stones or solid mass gets stuck in the organ and not allowing to process the organ normally. Mostly lithotripsy devices are used in kidney Stones, ureteral stones, bile duct stones, pancreatic stones problems. In kidney stone problem, the area between the mid-region and the upper thigh on either side of the body cause severe pain. The persons suffering from kidney stones experience cramps in the stomach kidney stones. Thus this formation of stones can cause bleeding, infection, severe pain in urinary tract, and kidney damage too. To avoid such cases extracorporeal shock wave or intracorporal type of lithotripsy devices are used.
Growing occurrence of urolithiasis and hi-tech developments in lithotripsy devices to drive lithotripsy devices market:
Growing occurrence of urolithiasis and hi-tech developments in lithotripsy devices are the key driving factors for the lithotripsy devices market. The availability of alternative stone removal treatments and unfavourable healthcare reforms in the U.S. may hinder the growth of market. However, increasing use of extracorporeal shock wave lithotripsy devices is expected to boost the lithotripsy devices market over the forecast period.
The global lithotripsy devices market is segmented on the basis of type, applications, end user, and regions.
Kidney Stone segment valued around USD 568.95 Million in 2017
Applications segment includes kidney stones, ureteral stones, bile duct stones, and pancreatic stones. Kidney stones segment is anticipated to grow with highest CAGR over the forecast period. The increasing occurrence of kidney stones due low-fibre diet lifestyle of people and reproduction of these stones after some period of time has increased the demand of kidney stones segment.
Hospital segment is anticipated to reach market share of 36.59% over the forecast period
End user segment is divided into hospital, ambulatory surgical centers, and other. Hospital is playing a chief role in shaping business growth, disrupting industry verticals and acting as catalyst for business modernization. The stone surgeries are done in hospital on daily or requirement basis that led the increase the market share of global lithotripsy devices market.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Asia Pacific, South America, Europe, and Middle East and Africa. North America held the largest market share of approximately 28.46% in 2017. Increase in the adoption of advanced devices and increasing occurrence of kidney stones and surgeries are key factors that led to the growth of lithotripsy devices market in this region.
The major players for lithotripsy devices market include Dornier MedTech, DirexGroup, Novamedtek, Richard Wolf, Siemens AG, Boston Scientific, Olympus America, Karl Storz Gmbh, C. R. Bard, Inc., Siemens AG, Walz Elektronik, Medispec LTD, LUMENIS, Jena Med Tech GmbH, Dornier MedTech, Direx Group, and among others.
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Lithotripsy devices market is segmented into the following submarkets:
Lithotripsy Devices Market by Type:
- Extracorporeal Shock Wave
Lithotripsy Devices Market by Applications:
- Kidney Stones
- Ureteral Stones
- Pancreatic Stones
- Bile Duct Stones
Lithotripsy Devices Market by End User:
- Ambulatory Surgical Centers
Lithotripsy Devices Market by Regions:
- NORTH AMERICA
- SOUTH AMERICA
- MIDDLE EAST AND AFRICA
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