Factors such as the growing incidence of urolithiasis and technological advancements in lithotripsy devices are driving the growth of this market. The Lithotripsy Devices Market is expected to reach USD 1.76 Billion by 2023 from USD 1.41 Billion in 2018, at a CAGR of 4.5%.
By type, the lithotripsy devices market is classified into extracorporeal shock wave lithotripsy devices and intracorporeal lithotripsy devices. In 2017, the extracorporeal shock wave lithotripsy devices segment accounted for the largest share of the market. ESWL is the least invasive of all stone treatments and is considered the treatment modality of choice for a majority of urinary stones.
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On the basis of applications, the lithotripsy devices market is categorized into kidney stones, ureteral stones, pancreatic stones, and bile duct stones. In 2017, the kidney stones segment accounted for the largest share of the market. The increasing incidence of kidney stones and the recurrence of these stones over a period of time are the key factors driving the growth of this segment.
On the basis of end user, the lithotripsy devices market is categorized into hospitals, ambulatory surgical centers, and other end users. In 2017, the hospitals segment accounted for the largest share of the global lithotripsy devices market. The large share can be attributed to the high number of surgeries performed in hospitals.
Based on region, the lithotripsy devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America dominated the lithotripsy devices market in 2017. The large share can primarily be attributed to the high prevalence of kidney stones and the large number of surgeries performed each year.
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Some of the major players in the lithotripsy devices market are Siemens AG (Germany), Boston Scientific (US), Dornier MedTech (Germany), Olympus America (Japan), DirexGroup (Germany), and Richard Wolf (Germany).