Lithotripsy is medical procedure that break kidney stones in small pieces. It use shock wave to break kidney stones so that it can travel through urinary track and remove from the body. Changing technology and innovation are major driving forces for the global lithotripsy market. Increasing adoption of new products and rising demand for advanced medical instruments are key factors for market growth. Major manufactures are increasing funding for new product development that leading to innovation and increasing competition in this market. Increasing burden of kidney stone is major factor for market growth.
The Global Lithotripsy market is growing at the CAGR of ~4.1% during the forecast period and expected to reach US$ 524.9 million by 2023.
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Global Lithotripsy Market has been segmented on the basis of type Extracorporeal shock wave lithotripsy (ESWL), Intracorporeal (endoscopic lithotripsy), Percutaneous lithotripsy, and others. Intracorporeal is further sub segmented into Laser lithotripsy, electrohydraulic lithotripsy, Mechanical lithotripsy, and Ultrasonic lithotripsy. On the basis of end user market is segmented into Hospitals and clinics, Research laboratories, Academic Institutes, and others.
Regional Analysis of Global Lithotripsy Market:
Considering the global scenario of the market, Americas holds the largest market share for the global lithotripsy market. In Americas, U.S. accounts the largest market share due to the high adoption of the advanced technology by healthcare professionals and high demand for advanced medical instruments. European is second largest region in global lithotripsy market where Western European countries accounts the largest share of this region. On the other hand, Asia-Pacific (APAC) is fastest growing market and expected to dominate the market by 2023. Middle East and Africa (ME&A) is likely to have a restricted growth in the market due to less awareness of devices and treatment.
Key Players for Global Lithotripsy Market:
Some of the key players in this market are: Boston Scientific (US), DIREX, S.L. (Spain), Dornier MedTech.(Germany), EDAP TMS (France), Elmed Electronics & Medical Industry & Trade Inc.(Turkey), Jena Med Tech GmbH (Germany), Medispec LTD (US), Olympus Corporation (Japan), Siemens Healthcare GmbH (Germany), STORZ MEDICAL AG (Switzerland)
The report for Global Lithotripsy Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions
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