Favorable reimbursement for lithotripsy procedure coupled with the rising awareness regarding kidney health is driving the growth of the market. Rising prevalence of kidney stones is anticipated to spur the size of the market. Growing demand for non-invasive treatment is also fueling the growth of the market.
The lithotripsy devices market is segmented on the basis of product type, modality, end-user, and region. Based on product type, the market is segmented into intracorporeal lithotripsy devices and extracorporeal lithotripsy devices. In extracorporeal lithotripsy, the stones present in the kidney are broken into smaller pieces by sending shock waves. Rising demand for non-invasive treatment has accelerated the demand for extracorporeal lithotripsy. Extracorporeal lithotripsy is mostly preferred maximum stones removal procedure.
Based on modality the market is segmented into standalone and portable. Extracorporeal lithotripsy devices rising availability in portable modality is driving the growth of the market.
Based on end user, the market is segmented into hospitals ambulatory surgical centres and speciality clinics. Hospitals are expected to dominate the market during the forecast period. The rising number of procedures alongside rising healthcare expenditure remains the key factor behind the growth.
Based on regions, Europe holds the majority share of the lithotripsy device market. The presence of prominent players coupled with the rising number of surgeries remains the key factor behind the growth of the market. Asia-Pacific region is expected to dominate the market in the coming years. Mounting incidences of chronic diseases alongside the development of healthcare infrastructure in the region have boosted the growth of the market. The increasing number of surgeries and increasing healthcare expenditure in developing nations like India and China is expected to spur the size of the market.
However, the risks of internal bleeding coupled with blood transfusions could cause potential damage to the kidney. Such factors have hindered the growth of the market.
Prominent players of the marker are Dornier MedTech, Lumenis, Siemens AG, Walz Elektronik, Richard Wolf GmbH, Novamedtek, Olympus America, Elmed Medical Systems, Boston Scientific, Dornier MedTech, DirexGroup.