Rising cases of kidney stones is driving the growth in Global Lithotripsy Devices Market in the forecast period, 2022-2026.
The changing lifestyles, and poor life choices are risking the kidney stone development among the younger population of the world which is expected to support the growing market in lieu of surge in the demand of the devices required for the treatment of the kidney stones. Moreover, the geriatric population is more susceptible to the kidney stones problem. Therefore, the alarming rate of increasing geriatric population of the world is a major driving factor for the growth of the global lithotripsy devices market in the upcoming five years.
Lithotripsy is a medical treatment which is the process of removal of kidney stones by a non-invasive surgical process. The kidney stones that are too large and cannot pass through the urinary tract are treated using lithotripsy devices. Through the process of fluoroscopy, the stones are located and identified and then the lithotripsy devices are utilized to extract the kidney stones from the particular portion.
The rising instances of urolithiasis is anticipated to be a major cause of the impressive CAGR growth in the market. Although, the expenses of the medical procedure might put a minor restraint on the growth of the market in the future five years.
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The global lithotripsy devices market is segmented by type, modality, application, end user, competitional landscape, and regional distribution. Based on modality, the market is differentiated between standalone and portable device. Standalone devices held major shares of the market in the historical years and is expected to dominate the market in the next five years too on the account of consistent practices being carried out and the complicated procedures that require experienced surgeons and medicine practitioners to execute the procedure.
Moreover, the surge in the demand in the south Asian countries owing to the still developing healthcare industry is driving the growth of the market. Although portable devices are expected to register the fastest growing CAGR on the grounds of feasibility of the device, efficiency, cheaper option for the procedure, leaves no room for ay risk condition therefore driving the growth of the market. Moreover, due to the surge in demand from the ambulatory care centers and other health care facilities that require portable medical devices to overcome the back-draw of smaller infrastructure is supporting the growth of the market in the next five years.
Based on type, the market is further bifurcated into intracorporeal lithotripsy, extracorporeal shock wave lithotripsy (ESWL). Extracorporeal shockwave lithotripsy devices are anticipated to hold the major revenue shares of the market in the next five years. The market segment growth can be attributed to the surge in the demand of non-invasive surgical procedures and technological advancement in the medical healthcare industry.
ESWL or Extracorporeal shockwave lithotripsy is the medical procedure of removing the kidney stones where open surgeries can be avoided and even if the kidney stones are larger in sizes the procedure can easily remove the kidney stone from its location and extract it. High energy shock waves are passed through the body that reaches the stone’s location and breaks it into smaller pieces which is then excreted out from the urinary tract. The sizes are preferably turned to as small as the size of sand grains.
Holding the major shares of the global lithotripsy devices market are Church & Dwight Co. Inc., Fairhaven Health LLC, Geratherm Medical AG, Abbott Laboratories, Inc., Quidel Corporation, Swiss Precision Diagnostics GmbH (Procter & Gamble), Tempdrop LLC, Uebe Medical GmbH, HiLin Life Products Inc., Fertility Focus Limited, among others.
Market players are actively involved in the research and technological development in the medical device developments. The advanced technology has made it possible for the healthcare industry to provide excellent healthcare services through lithotripsy devices. Further advancement would aid the market value and brand establishment in the future five years.
New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is anticipated to be the most volatile and most promising market in the future five years. High prevalence of kidney stone problems and increasing awareness about lithotripsy devices among consumers are anticipated to drive the market growth in the future. Also, the region consists of the United States and Canada likewise major economies that support excellent healthcare within the country and the presence of multiple market players that hold major shares of the market are other major factors that is expected to support the growth of the market too. Moreover, Asia-Pacific region is expected to show a major growth in the CAGR owing to the developing healthcare industry in the countries like India and China. The market is open for the technologically advanced and cheaper medical devices. Since a new wave of healthcare beneficiary policies is experienced in these countries, new market players may benefit from governmental aid,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Lithotripsy Devices Market By Type (Intracorporeal Lithotripsy, Extracorporeal Shock Wave Lithotripsy (ESWL)) By Modality (Standalone v/s Portable) By Application (Kidney Stone, Pancreatic Stones, Ureteral Stones, Bile Duct Stone) By End User (Hospitals & Clinics, Ambulatory Surgical Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global lithotripsy devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global lithotripsy devices market.
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