The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global lithotripsy devices market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ Mn), Y-o-Y growth and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the lithotripsy devices market during the forecast period.
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Lithotripsy is a medical procedure used for breaking stones in kidney and in other organs, such as liver or gallbladder. Generally, kidney stones exit the body through urination, however, the same is not possible in the case of large stones. In such cases, lithotripsy devices are used to disintegrate kidney or ureteric stones to allow passage through the urinary tract system with negligible discomfort to the patient.
Unique Growth Strategies Becoming Paramount
The robust competition in lithotripsy devices market is propelling lithotripsy devices manufacturers to adopt unique growth strategies to gain a competitive edge in lithotripsy devices market. To capitalize on the proliferating demand for lithotripsy devices, the leading players in lithotripsy devices market are increasingly inducing innovative features in lithotripsy devices, business expansion and collaborations and acquisitions in order to survive and gain the center stage in the marketplace. Furthermore, lithotripsy devices market players are focusing their efforts in the direction of manufacturing innovative lithotripsy devices to intensify their market position and reinforce product offerings.
With such initiatives increasingly being adopted by the manufacturers of lithotripsy devices, lithotripsy devices market is likely to witness tremendous changes, while creating lucrative growth opportunities at the same time. Amid the rigorous competition in lithotripsy devices market, geographical expansion continue to gain traction with lithotripsy devices market players diversifying their business to lure extensive customer base. In order to cater to burgeoning demand for such a type of treatment from healthcare industry, leading players in lithotripsy devices market are focusing on novel strategies. Some of the notable developments in lithotripsy devices market include:
- May 2018: – Dornier MedTech (Dornier), a world leader in innovative kidney stone management launched Dornier Delta® III SmartLitho™ at the American Urology Association (AUA) Annual Meeting 2018. Dornier Delta® III SmartLitho™ is the world’s first lithotripter system which uses big data in urology.
- April 2018: Olympus shared plans of purchasing lithotripsy systems from Cybersonics Inc., to widen portfolio in US-based manufacturing and to improve the treatment of stone diseases.
- In 2018, a leading player in lithotripsy devices market STORZ Medical got into a sales collaboration with Siemens Healthineers EDICAL for urology. Together they have been focusing on facilitating access for their customers and patients to the latest technologies for diagnostic imaging in urology and non-invasive therapy for renal calculi and urinary.
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Detailed profiling of leading players operating in lithotripsy devices market has been included in lithotripsy devices market report. Key players operating in lithotripsy devices market include, Siemens AG, Dornier MedTech, C.R. Bard, Inc., STORZ Medical, Lumenis, Olympus America, ms Westfalia, Elmed Medical Systems, MTS medical, Direx Group, Walz Elektronik, Medispec Ltd. GEMSS Co., Ltd., Inceler Medikal, Richard Wolf, EMS Electro Medical Systems, Allenger, Jena Med Tech GmbH, Walz Elektronik GmbH, Novamedtek, Boston Scientific Corporation, EDAP TMS, Beijing SODY Medical Equipment Co., Ltd., Cook Medical, and Apex-MediTech.
The widespread prevalence of complications arising due to kidney stones is a main factor expected to fuel growth in the lithotripsy devices market in the forthcoming years. In recent years, lithotripsy has gained traction as a highly viable method for treating large kidney stones. This growing adoption of lithotripsy devices can be attributed to their numerous benefits, such as low cost, relative safety, and minimal recovery time. Furthermore, intracorporeal lithotripsy devices’ ability to treat kinds of kidney stones and comparatively high success rates for ureteral stones with no such complications are expected to underpin gains in lithotripsy devices market. Though there are newer approaches for the treatment of kidney stones, patients have been preferring non-invasive or minimally invasive treatment methods treatment, thereby adding to the demand for lithotripsy devices.
Non-Invasive ESWL Witnessing Immense Traction
As the demand for non-invasive or minimally-invasive treatments grow, extracorporeal shock wave lithotripsy (ESWL) treatment is gaining traction, it being a non-invasive surgical procedure. Moreover, the leading manufacturers operating in kidney stones management market have been reinforcing their growth by focusing on creating compact ESWL devices with optimal efficiency in targeting sources. Furthermore, the availability of extracorporeal shock wave lithotripsy devices equipped with piezoelectric and electromagnetic sources for generating shock waves has been driving growth in lithotripsy devices market. Additionally, low costs, minimal waiting time, and procedural times have been propelling integration of lithotripsy procedures as an outpatient procedure into healthcare delivery systems.