The Global Lithotripsy Market is anticipated to capture a moderate CAGR of 4.1 % over the forecast period. 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.
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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 – Regional Analysis
Geographically, North America accounts for the leading market for Lithotripsy, possessing a substantial market share, followed by the markets of Europe & Asia Pacific, respectively. The significant contribution from the growing market in the US, backed by the high expenditure on healthcare acts as a tailwind for the market growth. Moreover, increasing prevalence of kidney diseases and rising demand for treatment measures provide impetus to the market growth.
On the other hand, Europe, the world’s second-largest market for Lithotripsy is fostered by the high per capita income and the well-proliferated healthcare sector in the region. The market growth in the countries such as Germany & France pushes the market growth in the region in the large scale. With the increasing investment in health care and rising number of patients with renal diseases, the market is projected to register a phenomenal CAGR
The Asia Pacific market for the Lithotripsy is estimated to observe an exponential growth. India and China with their huge patient’s pool and the burgeoning medical treatment market will lead the market growth in the region. Vietnam, Thailand, and Malaysia among the other South East Asian countries are projected to contribute significantly to the regional market growth. With the growing Medical Tourism markets in India & Malaysia, the APAC region will register a healthy CAGR during the review period.
Industry, Innovation & Related News:
In December 2018, Shockwave Medical, a company specializing in the development and commercialization of intravascular lithotripsy, announced a partnership with Abiomed, Inc., a manufacturer of medical implant devices. The companies have collaborated for the purpose of a training and education program in the US and Germany with a prime focus on their respective technologies.
In May 2018, Shockwave Medical, a pioneer of Intravascular Lithotripsy launched Coronary Intravascular Lithotripsy in Europe.
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.
Global Lithotripsy Market – Segments
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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