Lithotripsy Device Global Market Report 2023

(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinkerannounces the release of the report "Lithotripsy Device Global Market Report 2023" -
, Richard Wolf GmbH, Storz Medical AG, Beijing SODY Medical EquipmentLtd., Allengers Medical Systems Limited, ELMED Medical Systems Inc., Technomed Systems Pvt Ltd., and MaxHealthcare.
The global lithotripsy device market is expected to grow from $1.66 billion in 2022 to $1.77 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lithotripsy device market is expected to reach $2.19 billion in 2027 at a CAGR of 5.4%.
The lithotripsy devices market consists of sales of laser lithotripsy, mechanical lithotripsy, and electrohydraulic lithotripsy.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Lithotripsy devices are medical devices and equipment used to treat lithotripsy, a non-invasive procedure to treat kidney stones. This procedure uses shock waves or ultrasound waves to break large stones that cannot pass the urinary tract into smaller stones that are easily removed.
North America was the largest region in the lithotripsy devices market in 2022. The regions covered in lithotripsy devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main lithotripsy device types are extracorporeal shock wave lithotripsy devices, and intracorporeal lithotripsy devices.Extracorporeal shock wave lithotripsy devices are products that use shock waves generated by a lithotripter.
The variapplications are kidney stones, ureteral stones, pancreatic stones, bile duct stones, and others used in hospitals, ambulatory surgical centers, and others.
The rise in the prevalence of kidney stones is expected to propel the lithotripsy device market going forward.Kidney stones refer to hard, pebble-like fragments of material that can develop in one or both kidneys when the urine contains excessive amounts of a certain mineral.
Lithotripsy devices are used in kidney stones to break the stones into small pieces using shockwaves so that can easily pass through urine. For instance, in December 2022, according to a journal published by BioMed Central, a UK-based scientific open-access publisher, from a study of more than 10,000 people aged 40–70 years who lived in Kharameh, the Age-standardized prevalence rate (ASPR) of kidney stone was 21.11%. and ASPR was estimated that 24.13% in men and 18.7% in women in 2022. Therefore, the increase in the prevalence of urolithiasis is driving the growth of the lithotripsy device market.
Product innovations have emerged as the key trend gaining popularity in the lithotripsy device market.Major companies operating in the lithotripsy device market are developing new and innovative products to strengthen their position in the market.
For instance, in July 2020, Olympus, a Tokyo-based manufacturer of medical and surgical procedures, introduced the Soltive SuperPulsed Laser System, which uses thulium fiber laser technology. The Soltive SuperPulsed Laser System can break kidney stones into fine dust in half the time compared to other laser systems, allowing easy removal during the procedure.
In September 2021, Boston Scientific, a Massachusetts-based biomedical engineering firm and manufacturer of medical devices, acquired the international surgical business of Lumenis for $1.07 billion. With this acquisition, Boston Scientific aims to strengthen its portfolio by integrating the Lumenis laser portfolio and expanding its footprint throughout Europe and Asia. Lumenis is an Israel-based provider of medical devices that help in curing kidney stones, such as laser systems and accessories utilized in urology.
The countries covered in the lithotripsy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The lithotripsy device market research report is one of a series of new reports that provides lithotripsy device market statistics, including lithotripsy device industry global market size, regional shares, competitors with a lithotripsy device market share, detailed lithotripsy device market segments, market trends and opportunities, and any further data you may need to thrive in the lithotripsy device industry. This lithotripsy device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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