Global Lithotripsy Devices Market is expected to grow at a CAGR of 4.5% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Lithotripsy Devices Market by Type (Intracorporeal Lithotripsy Devices, Extracorporeal Shock Wave Lithotripsy Devices), End User (Ambulatory Surgical Centres, Hospitals), Applications (Kidney Stones, Pancreatic Stones, Urethral Stones, Bile Duct Stones), Regions, and Global Forecast 2020-2027.
The global lithotripsy devices market is expected to grow from USD 1.5 billion in 2019 to USD 2.1 billion by 2027, at a CAGR of 4.5% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for lithotripsy devices. It is expected to grow at the highest during the forecast period because of increasing medical infrastructure and technology. Currently, North America holds the largest market share in this market due to a considerable number of nephrolithiasis patients in this region.
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Key players in the global lithotripsy devices market are Walz Elektronik GmbH, Siemens AG, Dornier MedTech, STORZ Medical, Richard Wolf, Allenger, DirexGroup, MS Westfalia, Olympus America, Boston Scientific, Beijing SODY Medical Equipment Co. Ltd, MTS Medical, and Apex-MediTech among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global lithotripsy devices market.
In May 2018, Dornier MedTech released Dornier Delta III SmartLitho, the world’s first smart lithotripter which uses big data. Dornier Delta III will assist urologists in making treatment decisions using analytical algorithms. With powerful imaging, the tool is accessible for enhanced stone visualization, and increased productivity thanks to time-saving features, allowing for surgeons to operate on more patients in less time.
The type segment includes intracorporeal lithotripsy devices and extracorporeal shock wave lithotripsy devices. The extracorporeal shock wave lithotripsy (ESWL) segment will dominate the market over the forecast period by having a high growth rate and a larger market share over intracorporeal lithotripsy devices. The ESWL system is safe, time-efficient and non-invasive, which means there is no requirement for open surgeries. The industry is segmented into ambulatory surgical centers, hospitals and others based on end-user. The hospital segment makes up the largest market share because hospitals are the main users of lithotripsy products during surgery operations. The application segment includes kidney stones, pancreatic stones, urethral stones, and bile duct stones. The kidney stones section accounted for the largest market share in 2017.
About the report:
The global lithotripsy devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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