What is Global Medical Lithotripsy Device Market?
The Global Medical Lithotripsy Device Market is a vast and dynamic sector that encompasses a wide range of medical devices used to break down kidney stones and gallstones. These devices use high-energy shock waves to disintegrate the stones, making them easier to pass naturally or be removed surgically. The market is driven by several factors, including the increasing prevalence of urolithiasis and technological advancements in lithotripsy devices. Furthermore, the growing preference for minimally invasive procedures and the rising geriatric population are also contributing to the market's growth. However, the high cost of these devices and the risk of complications associated with lithotripsy procedures may hinder the market's growth.
Intracorporeal Lithotripsy, Extracorporeal Lithotripsy in the Global Medical Lithotripsy Device Market:
The Global Medical Lithotripsy Device Market is segmented into Intracorporeal Lithotripsy and Extracorporeal Lithotripsy. Intracorporeal Lithotripsy involves the direct contact of the device with the stone, either through a natural body opening or a small incision. This method is often used for larger stones or those located in hard-to-reach areas. On the other hand, Extracorporeal Lithotripsy uses shock waves generated outside the body to break down the stones. This non-invasive procedure is commonly used for smaller stones located in the kidney or upper ureter. Both methods have their advantages and disadvantages, and the choice of procedure depends on the patient's condition and the physician's expertise.
Hospitals, Ambulatory Surgical Centers, Other in the Global Medical Lithotripsy Device Market:
The Global Medical Lithotripsy Device Market finds its application in various healthcare settings, including Hospitals, Ambulatory Surgical Centers, and others. Hospitals are the largest end-users of these devices due to the high volume of patients and the availability of advanced healthcare facilities. Ambulatory Surgical Centers, on the other hand, are gaining popularity due to their cost-effectiveness and convenience. These centers offer same-day surgical care, including diagnostic and preventive procedures, making them an ideal choice for lithotripsy procedures. Other settings include specialty clinics and research institutions.
Global Medical Lithotripsy Device Market Outlook:
Based on our research, the global market for medical lithotripsy devices is projected to reach a value of US$ 603 billion by 2023. This represents a significant growth from the current market size, driven by the increasing demand for these devices and the advancements in medical technology. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5% over the next six years. This growth is indicative of the increasing reliance on these devices for the treatment of kidney stones and gallstones, and the growing preference for minimally invasive procedures.
| Report Metric | Details |
| Report Name | Medical Lithotripsy Device Market |
| Accounted market size in year | US$ 603 billion |
| CAGR | 5% |
| Base Year | year |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Walz Elektronik, Boston Scientific, Olympus, C. R. Bard, EDAP TMS, Siemens Healthcare GmbH, Dornier MedTech, Cook, KARL STORZ, Richard Wolf GmbH, EMS |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
