Industry Background:
A lithotripter is defined as the non-invasive device that is used for removing kidney stones without surgery. The lithotripter provides a non-chirurgical method of spraying stones into small enough bits to travel naturally in the urine of the person. Patients who once had to undergo extensive surgery to remove their stones could be treated with lithotripsy and would not even need an incision. Some of the symptoms are bleeding disorder, abdominal pain, urinary tract infection, damaged kidney infection, and others. Demand for lithotripter has increased, due to the increase in the prevalence of kidney stones. For instance, according to The National Center for Biotechnology Information (NCBI), In the United States, the prevalence of kidney stones has risen from 1 in 20 to 1 in 11 since 1994. Hence, rising number of kidney stones patients across the world is likely to be the prime driver for market growth
According to AMA Research, the market for Lithotripters is expected to register a CAGR of 4.1% during the forecast period to 2030. This growth is primarily driven by Increasing Number of Kidney Stones Patients and Increasing Awareness
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | M Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Boston Scientific Corporation (United States), Dornier MedTech (Germany), Siemens Healthineers AG (Germany), STORZ Medical (Switzerland), Allengers Medical Systems (India), Aymed Medikal Teknoloji (Turkey), Convergent Laser Technologies (United States), Cook Medical Incorporated (United States), Elmed Electronics & Medical Industry & Trade (United States) and EMD Medical Technologies (Turkey), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2020, Lumenis Ltd announced the launch of MOSES 2.0, the next generation of the versatile, patented MOSES platform that is redefining urology care. MOSES 2.0 builds on the already clinically proven advantages of the MOSES technology platform to continue to push the boundaries in terms of procedure outcomes, efficiency, and economics.The global lithotripters market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Regulatory Insights:
According to Government of Singapore, “these guideline serve as a guide to the management of medical clinics and private hospital approved by the Ministry of Health to provide lithotripsy, a special care services list under the Third Schedule of the private Hospitals and Medical Clinics Regulation, on the provision of lithotripsy for the treatment of renal stones”.
Influencing Trend:
Technology Advancement regarding Lithotripters
Market Growth Drivers:
Increasing Number of Kidney Stones Patients and Increasing Awareness and Rising Disposal Income among Middle-Class Families
Challenges:
Lithotripsy is not preferred for Pregnant Women and Bleeding Problem Patients
Restraints:
Issue related to Blood in the Urine and repeated Lithotripsy Procedure may be needed
Opportunities:
Growing Demand from Emerging Economics such as China, India, among others and Government Initiative regarding Lithotripters
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Lithotripters Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Lithotripters Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Lithotripters players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Lithotripters Study Sheds Light on
The Lithotripters Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Lithotripters industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Lithotripters industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.