Global Lithotripsy Market to Worth USD 524.9 Mn. by 2023 as Industry Grows due to Increasing Burden of Kidney Stone | Asserts MRFR

Lithotripsy Market
Lithotripsy Market report explores Scope of the Study as Research Objective, Assumptions and Limitations in-depth. The report gives Market Dynamics by Drivers, Restraints, Opportunities, Challenges, Macroeconomic Indicators and Technology Trends & Assessment.

The Global Lithotripsy Market is growing rapidly, gaining colossal prominence owing to the augmenting prevalence of kidney stones. Attributing to the technological advancements transpired in the medical science, the market has grown exponentially, witnessing the emergence of novel treatment procedures, medications & surgeries.

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Also, the risk factors causing kidney stones are contributing to the market growth substantially. Kidney stones could cause due to many reasons, but the one that tops over other reasons is heady lifestyle coupled with the low intake of water.

Acknowledging kind of the growth the market perceives currently; Market Research Future (MRFR) in its recently published study report asserts that the global Lithotripsy market, growing further, will register a growth of USD 524.9 Mn. By 2023 with over 4% CAGR from 2017 to 2023.

Additional factors such as growing population and urbanization worldwide are fostering the market growth. Improving economic conditions that enable access to the quality life & the improved healthcare worldwide are providing impetus to the market growth. Seminal efforts &investments put in the field to bring betterment in the therapy, by the key market players are paying off well, fostering the market growth. Simultaneously, government initiatives are playing a vital role in encouraging the market growth.

On the other hand, factors such as low awareness among people about the availability of this treatment, the high cost involved in Lithotripsy along with the skepticism of physicians towards the advancement & efficacies of this treatment, are likely to impede the growth of the Lithotripsy market.

Global Lithotripsy Market – Competitive Landscape

The Global Lithotripsy Market is fiercely competitive with the presence of several large and small players forming the competitive landscape in the market. These market players acquire promising companies to expand in the fast-growing markets, focusing on improving their market performance. The structure of the market is changing due to the acquisition of local manufactures by the multinational companies. Strategies like product innovations and technologies are creating strong investment opportunities for the market players.

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)

Industry, Innovation & Related News

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.

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.

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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.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

 

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