Lithotripsy Devices Market 2022
The Healthcare Equipment market constitutes things as simple as bandages and tongue depressors and things as complex as sophisticated imaging systems and programmable pacemakers. The major categories are inclusive of surgical instruments and implants, electro-medical equipment, medical supplies, irradiation apparatuses, in-vitro diagnostic equipment and reagents, and dental goods. With increase in healthcare spending, there would be nothing to hold healthcare equipment market back in the forecast period.
According to the latest report published by Persistence Market Research titled “Lithotripsy Devices Market: Global Industry Analysis 2013-2017 and Forecast 2018–2026,” the Lithotripsy Devices Market is anticipated to expand at a CAGR of 4.3% during the forecast period in terms of value.
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Increasing prevalence of kidney stones is the major factor expected to drive the growth of the Lithotripsy Device Market over the forecast period. Over the years lithotripsy has become the most preferred method for the treatment of kidney stones. This has largely been due to the advantage of its relative safety, low cost, less recovery time and positive patient outcomes.
Additionally, the intracorporeal lithotripsy devices are able to treat all compositions of kidney stones and have a high success rates for ureteral stones without any major complications. On other hand, lack of innovation and the industry’s interest in funding younger technologies are the major factors restraining the growth of the global lithotripsy devices market.
Company Profiles
- Siemens Healthineers AG
- Richard Wolf GmbH
- Dornier MedTech
- Lumenis Ltd.
- STORZ MEDICAL AG
- Inceler Medical Co. Ltd.
- Direx Group
- Medispec Ltd.
- EDAP TMS SA
- GEMSS Co., Ltd.
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PMR report for global lithotripsy devices has been segmented the Based on type: intracorporeal lithotripsy device, extra corporeal lithotripsy device. Based on modality, the global lithotripsy device market has been segmented into standalone and portable lithotripsy device. Based on end user, the global lithotripsy device market has been segmented into hospitals, ambulatory surgical centres and specialty clinics.
Extracorporeal Lithotripsy Devices is the Most Lucrative Segment by Type
Extracorporeal lithotripsy device segment is estimated to dominate the lithotripsy devices market by type with more than 70.0% throughout the forecast period. Extracorporeal lithotripsy device segment by type for global Lithotripsy Device Market is expected to show incremental opportunity of US$ 208.4 Mn to reach the value of US$ 777.1 Mn by 2026 end.
By product type, intracorporeal lithotripsy devices is expected grow at faster pace than extracorporeal lithotripsy devices for global lithotripsy device market and it is projected to growth with the CAGR of 5.3% over the forecast period.
Hospital Segment Dominates Market Share by End User
Among all end users, hospitals are expected to dominate the lithotripsy devices market with 66.6% value share in 2017. Hospital segment by end user for global lithotripsy devices market is expected to show incremental opportunity of US$ 202.2 Mn and it is projected growth 4.2%.
Middle East & Africa Will Continue to Grow at a Considerable Rate
PMR analysed the Lithotripsy Device Market in six major regions: North America, Latin America, Europe, Asia-Pacific excluding China, China, and Middle East & Africa (MEA). Europe dominates the market value share for Lithotripsy devices and is expected to reach US$ 307.5 Mn by 2026 end.
The Asia-Pacific excluding China market for lithotripsy devices is expected to account for the second largest market value share which is then followed by North America. Asia-Pacific excluding China and Europe collectively constitute for around 50% of market share over the forecast period. MEA and Latin America are expected to be fastest growing regions for lithotripsy device market due to growing healthcare efforts.
Key Insights from PMR’s Report on Lithotripsy Devices Market
Lithotripsy procedures are soon becoming an outpatient procedure, reflecting a robust growth in the ambulatory surgical center segment, by end users. Minimal waiting time, costs, and procedural times favor healthcare delivery systems into integrating lithotripsy procedures as an outpatient procedure. However, majority of the lithotripsy procedures are still performed at hospitals.
Although there are newer approaches for treating kidney stones, patients prefer minimally invasive or non-invasive treatment methods for kidney stone treatment.
Modern day lithotripters, which provide a range of settings to clinicians, allow clinicians to choose various combinations that have various effects during the procedure.
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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