Market Leader - Lithotripsy Devices Market
The global lithotripsy devices market is expected to reach USD 1.76 Billion by 2023 from USD 1.41 Billion in 2018, at a CAGR of 4.5%. Growth in this market is propelled by the increasing incidence of urolithiasis and technological advancements in lithotripsy devices. However, unfavorable healthcare reforms in the US and the adverse effects associated with lithotripsy and the availability of alternative treatments for stone removal are expected to restrain the growth of this market during the forecast period.
On the basis of type, the lithotripsy devices market is categorized into extracorporeal shock wave lithotripsy (ESWL) devices and intracorporeal lithotripsy devices. Of these, the extracorporeal shock wave lithotripsy devices segment accounted for the largest market share in 2017. ESWL is the least invasive of all stone treatments and is considered the treatment modality of choice for a majority of urinary stones. Moreover, the complication rate has always remained very low and usually limited to minor side effects. These advantages associated with the ESWL technique are supporting the growth of the ESWL devices market.
Based on application, the lithotripsy devices market has been segmented into kidney stones, ureteral stones, pancreatic stones, and bile duct stones. In 2017, the kidney stones segment accounted for the largest share of the global lithotripsy devices market. The large share of this segment is attributed to the increasing incidence of kidney stones globally.
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By end user, the lithotripsy devices market is classified into hospitals, ambulatory surgical centers, and other end users. In 2017, the hospitals segment accounted for the largest share of the lithotripsy devices market. The large share can be attributed to the growing number of stone procedures performed in hospitals.
The lithotripsy devices market is geographically segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to register the highest CAGR in the global lithotripsy devices market during the forecast period. Growth in this regional segment is majorly attributed to the large patient population in this region.
Related Reports:
Lithotripsy Devices Market by Type (ESWL, Intracorporal (Laser, Electrohydraulic, Mechanical, Ultrasonic Lithotripsy)), Application (Kidney, Ureteral, Bile Duct & Pancreatic Stones), End User (Hospital), Procedures - Global Forecast to 2023
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