Press release
Lithotripsy Device Market Report 2024: Strategies And Recent Developments
Lithotripsy Device Market
The Business Research Company offers in-depth market insights through Lithotripsy Device Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The lithotripsy device market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to risen incidence of kidney stones, preference for non-invasive procedures, advancements in medical imaging, increased geriatric population, patient demand for faster recovery.
The lithotripsy device market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to technological innovations in lithotripsy, increasing awareness and education, global access to healthcare services, collaborations in urology and nephrology, preventive approaches to kidney stones. Major trends in the forecast period include remote monitoring and telesurgery, continued research in stone fragmentation techniques, global collaboration in lithotripsy research, focus on outcomes-based healthcare, integration of artificial intelligence (ai).
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Market Segmentation:
The lithotripsy device market covered in this report is segmented -
1) By Type: Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices
2) By Applications: Kidney Stones, Ureteral Stones, Pancreatic Stones, Bile Duct Stones, Other Applications
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users
Major Driver - Rising Prevalence Of Urolithiasis Fuels Growth In The Lithotripsy Device Market
The rise in the prevalence of kidney stones is expected to propel the lithotripsy device market going forward. Kidney stones refer to hard, pebble-like fragments of material that can develop in one or both kidneys when the urine contains excessive amounts of a certain mineral. Lithotripsy devices are used in kidney stones to break the stones into small pieces using shockwaves so that can easily pass through urine. For instance, in December 2022, according to a journal published by BioMed Central, a UK-based scientific open-access publisher, from a study of more than 10,000 people aged 40-70 years who lived in Kharameh, the Age-standardized prevalence rate (ASPR) of kidney stone was 21.11%. and ASPR was estimated that 24.13% in men and 18.7% in women in 2022. Therefore, the increase in the prevalence of urolithiasis is driving the growth of the lithotripsy device market.
Competitive Landscape:
Major companies operating in the lithotripsy device market report are Siemens AG,Becton Dickinson and Company,Boston Scientific Corporation,Cook Medical LLC,Shockwave Medical Inc.,Lumenis Ltd.,EDAP TMS S.A.,Dornier MedTech GmbH,Electro Medical Systems S.A.,Allengers Medical Systems Limited,DirexGroup,Medispec Ltd.,Elmed Medical Systems Ltd.,Convergent Laser Technologies,MTS Medical,NOVAmedtek LLC,EMD Medical Technologies,NIDHI Meditech Systems, Olympus Scientific Solutions Americas Corporation,Richard Wolf India Private Ltd.,Karl Storz SE & Co. KG,Technomed Systems Private Limited,Shenzhen Wikkon Medical Apparatus Co. Ltd.,Inceler Medikal Ltd. Sti,Cliniva Healthcare,C. R. Bard Inc.,E.M.S. Electro Medical Systems S.A.,MACHIDA Endoscope Co. Ltd.,Medtronic plc, Aymed Medical Technology Co. Ltd.,Proteus Digital Health Inc.
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Top Trend - Key Players Innovation Enhanced Lithotripsy Device Market Growth
Product innovations have emerged as the key trend gaining popularity in the lithotripsy device market. Major companies operating in the lithotripsy device market are developing new and innovative products to strengthen their position in the market. For instance, in March 2022, Shockwave Medical Inc., a US-based medical device company, launched the Shockwave M5+ peripheral IVL catheter after receiving both CE Mark and U.S. Food and Drug Administration (FDA) clearance. Tailored to reduce IVL treatment duration, diversify access options, and extend IVL therapy to individuals with larger vessel sizes, this new peripheral catheter by Shockwave presents notable advancements. It offers enhanced efficiency and efficacy in treating challenging patients, including those previously ineligible for IV treatment.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Lithotripsy Device Market Characteristics
3. Lithotripsy Device Market Trends And Strategies
4. Lithotripsy Device Market - Macro Economic Scenario
5. Lithotripsy Device Market Size And Growth
…..
27. Lithotripsy Device Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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