Lithotripsy Device Market
Lithotripsy Device Market (Product - Intracorporeal Lithotripsy, Extracorporeal Lithotripsy; Application - Kidney Stones Biliary Duct Stones, and Others) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Press Release :
Lithotripsy Device Market: Overview
The global lithotripsy device market is anticipated to witness prominent growth avenues during forecast period. One of the key elements supporting this projection is rising number of lithotripsy surgeries. In recent period, there is increase in the instances of kidney stones and gallstone diseases among worldwide population. Lithotripter is a medical device used to perform lithotripsy, which is a noninvasive procedure that helps in pulverizing stones in the patient’s body.
In recent period, the various health insurance companies and government bodies have incorporated new policies. The main motive of these policies is to make healthcare facilities available for everyone. As a result, increase in number of lithotripsy procedures owing to increase in favorable reimbursement policies is pegged to stimulate the growth of the global lithotripsy device market.
According to 2017 statistics, the total value of the global lithotripsy device market in this year was around US$ 705.5 mn. The market is projected to grow at a CAGR of around 3.8% during the forecast period of 2018–2026 and touch to the value of about US$ 984.3 mn by 2026.
The segmentation of the global lithotripsy device market is performed on the basis of products and applications
Rising Number of Kidney Stone Patients Fueling Market Growth
Cases of kidney stones have become common in present time. These crystals are generally formed in an individual’s body when their urine contains excess crystal-forming substances than capability of fluid in an individual’s urine to dilute these substances. Some of the common crystal-forming substances are oxalates, uric acid, and calcium. Growing number of kidney stone patients is fueling the growth of the global lithotripsy device market. Besides, increased awareness about the kidney health among the worldwide population is projected to further push the market growth.
In recent years, the worldwide healthcare system has drastically changed. With the incorporation of advanced technology, many surgeries in the present healthcare sector have become noninvasive or minimally invasive. At the same time, there is growing inclination in majority of people toward minimally invasive procedures. Owing to this shift, there is significant growth in the lithotripsy surgeries on global level. As a result, the players in the global lithotripsy device market are witnessing promising growth avenues.
However, a few factors are likely to dampen the growth of the lithotripsy device market in the upcoming period. The availability of alternative treatment options for treating kidney stones is one of the important reasons slowing down the market growth. Besides, the high cost of extracorporeal lithotripsy is making the growth of the lithotripsy device market somewhat sluggish in the cost-sensitive regions.
Extracorporeal Lithotripsy Segment Expected to Continue Gathering High Revenues
Based on the product type, the global lithotripsy device market is segmented into extracorporeal lithotripsy and intracorporeal lithotripsy. Among them, extracorporeal lithotripsy segment showed dominance in the global lithotripsy device market in 2017. The key reason for this dominance was rise in number of kidney stones patients. The segment is expected to continue witnessing this dominance and gather handsome revenues in the upcoming period. Key reason behind this success is the increased number of kidney stone procedures in worldwide population.
On the basis of application, the global lithotripsy device market is segmented into biliary duct stones, kidney stones, and others. In recent times, there is growth in the cases of kidney stone among worldwide population. This growth can be attributed to the increased cases of renal tubular acidosis. Thus, this increased number of kidney stone cases is pegged to stimulate the kidney stone segment.
The competitive landscape of the global lithotripsy device market is highly fragmented. This scenario is owing to the presence of many new and well-established players active in this market. To sustain in this intense competitive scenario, companies are chasing many strategies. Mergers and acquisitions, partnerships, and collaborations are said to be some of the popular strategies.
Several vendors in the lithotripsy device market are focused on advancing the quality of the products they offer. For this purpose, they are pouring investments in the research activities. They are creating a range of technologically advanced products. These moves by key vendors are expected to push the growth of the global lithotripsy device market in the upcoming period.
Another strategy that will be on the top of the list is expanding the geographical reach. For this purpose, many companies in the global lithotripsy device market are entering into partnership with other regional companies. This move is expected to support the market growth. Olympus Corporation, Boston Scientific Corporation, EDAP TMS, C. R. Bard, Inc. (Becton, Dickinson), Dornier MedTech, Siemens Healthcare GmbH, KARL STORZ, Cook, EMS, and Richard Wolf GmbH are some of the key companies operating in the global lithotripsy device market.
North America to Remain Lucrative Region Supporting Market Growth
The global lithotripsy device market is spread across many regions. Key regions included in this market are North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Of them, North America is pegged to register high volume of revenues during forecast period. One of the key reasons for this projection is the growing number of kidney stone patients. Besides, presence of many important players in this region is pegged to help in stimulating the lithotripsy device market growth.
Global Lithotripsy Device Market: Overview
This report analyzes the current and future scenario of the global lithotripsy device market. Increase in the prevalence of urolithiasis as well as rise in the demand for lithotripsy devices in stone management are projected to drive the global market.
This report comprises an elaborate executive summary, which includes information about various segments of the global lithotripsy device market. It also provides information and data analysis of the global market with respect to the segments based on product, application, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global lithotripsy device market.
Global Lithotripsy Device Market: Key Segments
In terms of product, the global lithotripsy device market has been segmented into intracorporeal and extracorporeal lithotripsy. The intracorporeal segment has been further divided into mechanical lithotripsy, electrohydraulic lithotripsy, laser lithotripsy, ultrasonic lithotripsy, and others. Based on application, the global market has been classified into kidney stones, biliary duct stones, and others. The market size and forecast for each of these segments have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year.
Global Lithotripsy Device Market: Regional Outlook
In terms of region, the global lithotripsy device market has been segmented into North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (South Africa, GCC Countries, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries/sub-regions have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also covers the competitive scenario in these regions.
Companies Mentioned in Report
The report also profiles major players in the global lithotripsy device market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in the report include Boston Scientific Corporation, Olympus Corporation, C. R. Bard, Inc. (Becton, Dickinson), EDAP TMS, Siemens Healthcare GmbH, Dornier MedTech, Cook, KARL STORZ, Richard Wolf GmbH, and EMS.
The global lithotripsy device market has been segmented as below:
- Global Lithotripsy Device Market, by Product
- Intracorporeal Lithotripsy
- Mechanical Lithotripsy
- Electrohydraulic Lithotripsy
- Laser Lithotripsy
- Ultrasonic Lithotripsy
- Extracorporeal Lithotripsy
- Intracorporeal Lithotripsy
- Global Lithotripsy Device, by Application
- Kidney Stones
- Biliary Duct Stones
- Global Lithotripsy Device Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America