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%
Aug 01, 2018, 13:59 ET
NEW YORK, August 1, 2018 /PRNewswire/ -- The lithotripsy devices projected to grow at a CAGR of 4.5% during the forecast period.
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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%. Factors driving the growth of this market include the increasing incidence of urolithiasis and technological advancements in lithotripsy devices. On the other hand, 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.
The intracorporeal lithotripsy devices segment is anticipated to grow at the fastest growth rate during the forecast period.
By type, the lithotripsy devices market is categorized into extracorporeal shock wave lithotripsy (ESWL) devices and intracorporeal lithotripsy devices. In 2017, the intracorporeal lithotripsy devices segment is expected to register the highest CAGR during the forecast period.
The kidney stones segment accounted for the largest share of the market in 2017.
The lithotripsy devices market by application is categorized into kidney stones, ureteral stones, pancreatic stones, and bile duct stones.In 2017, the kidney stones segment accounted for the largest share of the market.
The growth of this segment is mainly driven by the increasing incidence of kidney stones.
The hospitals segment is estimated to grow at the highest rate during the forecast period.
By end user, the lithotripsy devices market is segmented into hospitals, ambulatory surgical centers, and other end users.In 2017, the hospitals segment accounted for the largest share of the market.
The large share can be attributed to the significant amount of surgeries performed in hospitals.
Asia is estimated to grow at the highest CAGR during the forecast period.
Geographically, the lithotripsy devices market was dominated by North America, followed by Europe, in 2017.However, Asia is expected to register the highest CAGR during the forecast period.
Growth in this region can be attributed to the developing healthcare infrastructure, rising burden of chronic diseases, and increasing initiatives to promote the use of lithotripsy devices.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1 – 70% and Tier 2 – 30%
• By Designation – C-level – 62%, Director-level – 21%, Others – 17%
• By Region – North America – 50%, Asia– 30%, Europe – 20%
The key players in the lithotripsy devices market include Siemens AG (Germany), Boston Scientific (US), Dornier MedTech (Germany), Olympus America (Japan), DirexGroup (Germany), and Richard Wolf (Germany).
Research Coverage:
The report analyses the lithotripsy devices market by type, application, end user, and region.Apart from a comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years.
In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output to remain successful in the market.
Key benefits of buying the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the lithotripsy devices market
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the lithotripsy devices market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the lithotripsy devices market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various lithotripsy devices across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the lithotripsy devices market
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