Fact.MR – A Market Research and Competitive Intelligence Provider: The market for lithotripsy devices is expected to exceed US$ 2 billion by 2031.
Hospitals to Generate 50% of the Global Lithotripsy Devices Market Revenue
Fact.MR, in a recent market analysis on the global lithotripsy devices market offers compelling insights into crucial factors such as drivers, opportunities, threats, and restraints impacting sales in the market. The study also divulges recent developments across various segments in terms of product type, application and end-user across seven regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: The market for lithotripsy devices is expected to exceed US$ 2 billion by 2031. The market is mostly driven by rising awareness, higher prevalence of urolithiasis, and an increase in the number of extracorporeal shock waves lithotripsy operations.
Lithotripsy is a common therapy for treating kidney stones due to its relative safety, low cost, quick recovery time, and positive patient outcomes. As a result, all of these factors are expected to propel lithotripsy devices market growth. Sales are predicted to grow at a CAGR of roughly 5% from 2021 to 2031.
According to the European Association of Urology and the National Kidney Foundation in 2019, the prevalence of this ailment in countries with high standards of life, such as the United States, Canada, and Sweden, is more than 10%. Kidney stones can also be exacerbated by a fast-paced lifestyle and bad eating habits.
The growing use of minimally invasive procedures in general surgery, as well as their lower risk of complications when compared to open surgical procedures, is predicted to increase demand for lithotripsy equipment. Laser procedures, for example, are becoming more common, which is projected to boost market possibilities.
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Over 50,000 lithotripsy operations are conducted in the United States each year due to the increased prevalence of renal disease, propelling the market for lithotripsy devices. Over the projected period, lithotripsy device sales are expected to increase in the United States.
By product type, extracorporeal shock wave lithotripsy (ESWL) devices are expected to generate 2 out of 5 sales. Furthermore, extracorporeal shock wave lithotripsy devices market is expected to witness positive growth in the coming years.
Key Takeaways from Lithotripsy Devices Market Survey
- Extracorporeal shock wave lithotripsy devices to garner 2/5th of the global lithotripsy devices market revenue.
- By end use, hospitals segment is expected to dominate the market generating 50% revenue.
- Application of lithotripsy devices for treatment of kidney stones to lead the global market share.
Key Drivers
- Increasing prevalence of urolithiasis, rising number of extracorporeal shock waves lithotripsy procedures, technological advancements are driving demand for lithotripsy devices market.
Key Restraints
- Shock wave lithotripsy is expected to cause decreased renal function, this is expected to hamper the growth of the global lithotripsy devices industry.
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Competitive Landscape
Companies are implementing strategic activities such as mergers, new product launches, acquisitions, and collaborations to help them improve their market positions. Furthermore, companies are focusing on extending the applications of lithotripsy devices in order to strengthen their positions over the projection period.
Some of the prominent players operating in the lithotripsy devices market profiled by Fact.MR are:
- EDAP TMS
- Boston Scientific Corporation
- Olympus Corporation
- Accuron
- DirexGroup
- Siemens AG
- Dornier MedTech
- STORZ Medical
More Insights on the Lithotripsy Device Sales Outlook
Fact.MR provides an unbiased analysis of lithotripsy devices market, presenting forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for lithotripsy devices with a detailed segmentation on the basis of:
Product Type
- Extracorporeal Shock Wave Lithotripsy Devices
- Intracorporeal Lithotripsy Devices
- Laser Lithotripsy Devices
- Electrohydraulic Lithotripsy Devices
- Ultrasonic Lithotripsy Devices
- Mechanical Lithotripsy Devices
Application
- Lithotripsy Devices for Kidney Stones
- Lithotripsy Devices for Ureteral Stones
- Lithotripsy Devices for Pancreatic Stones
- Lithotripsy Devices for Bile Duct Stones
End User
- Lithotripsy Devices for Hospitals
- Lithotripsy Devices for Ambulatory Surgical Centers
- Lithotripsy Devices for Other End Users
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Key Questions Covered in the Lithotripsy Devices Market Outlook Report
- The report offers insight into lithotripsy devices demand outlook for 2021-2031.
- The market study also highlights projected sales growth for lithotripsy devices market between 2021 and 2031.
- Lithotripsy devices market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Lithotripsy devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
Explore Fact.MR’s Coverage on the Healthcare Domain –
Kidney Stone Management Devices Market Scope - In the kidney stone management devices market, rising demand for minimally invasive and non-invasive surgical procedures continue to be a major trend. The rising incidence rate of kidney stones, combined with the availability of inexpensive minimally invasive therapy, is expected to support demand for kidney stone management devices. Manufacturers will focus on developing innovative devices for large stones. Lithotripsy devices will dominate the global market as they have remained preferred devices in urology and renal conditions.
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