The market is segmented by type (Intracorporeal Lithotripsy Devices and Extracorporeal Shock Wave Lithotripsy Devices), Application (Kidney Stones, Pancreatic Stones, Ureteral Stones, and Bile Duct Stones), End-user (Hospitals and Ambulatory Surgical Centres) and Region. Global Forecast to 2030-." the global Lithotripsy Devices market share was USD 2.7 billion in 2020. It is predicted to reach USD 2.7 billion by 2030, representing a CAGR of 5.5 percent throughout the forecasted period".
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KEY FACTORS AUGMENTING THE MARKET GROWTH
Some of the most notable factors that are majorly driving the market's overall growth worldwide are increased prevalence of urolithiasis, a rise in the number of extracorporeal shock waves lithotripsy procedures, and advancements in technology along with raising awareness.
Based on Type, the Extracorporeal Shock Wave Lithotripsy Devices (ESWL) segment dominated the overall market share in 2020
Based on the type, the Global Lithotripsy Devices market has been broadly classified into Extracorporeal Shock Wave Lithotripsy Devices and Intracorporeal Lithotripsy Devices, further into Laser Lithotripsy Devices, Electrohydraulic Ultrasonic Lithotripsy Devices, and Mechanical Lithotripsy Devices. The Extracorporeal Shock Wave Lithotripsy Devices (ESWL) segment dominated the overall market in 2020. With an emphasis owing to the adoption of these devices and quick treatments, which are non-invasive are the primary choices for a majority of surgeons in the treatment of urinary stones
Based on Application, the kidney stone segment dominated the overall market share in 2020
Based on the Application, the Global Lithotripsy Devices market has been broadly classified into Kidney Stones, Ureteral Stones, Pancreatic Stones, and Bile Duct Stones. The Kidney stone segment dominated the overall market due to the increase in kidney stones.
Based on End-user, the Hospitals segment dominated the overall market share in 2020
Based on End-user, the Global Lithotripsy Devices market has been broadly classified into
Hospitals and Ambulatory Surgical Centres. The Hospitals segment held the biggest market share in the forecasted period with a steady CAGR, which can be primarily attributed to most surgical procedures performed in hospitals, thus driving the overall growth of this segment.
Based on Region, North America accounts for the dominant market share in 2020
Based on Region, the Global Lithotripsy Devices market has been broadly classified into North America, Europe, Asia-Pacific, and LAMEA. North America has occupied the largest market, with the US observing significant growth with a steady CAGR during the forecasted period. The factors responsible for the development are an increase in stone formations causing urolithiasis and an increased risk of renal disease.
Key Competitive Players
The key players included in the Global Lithotripsy Devices market include Dornier MedTech, Allengers, Technomed Medical Systems, ELMED USA Medical Systems, SODY Medical Equipment Co. Ltd., NOVAMEDTEK, Siemens Medical Solutions USA, Inc., Olympus Corporation, Shockwave Medical Inc., EDAP TMS, STORZ Medical AG, Lumenis, Direx Group, Medispec Ltd., Boston Scientific Corporation, Beijing SODY Medical Equipment Co. Ltd., Apex-Meditech.
Recent Developments