Europe to Remain Largest Market for Lithotripsy Devices in the Coming Years

The lithotripsy devices market is anticipated to expand at a CAGR of 4.3 percent from 2018-2026 in terms of value. Increasing prevalence of kidney stones is the major factor expected to drive the growth of the lithotripsy device market. Over the years lithotripsy has become the most preferred method for the treatment of kidney stones. This has largely been due to the advantage of its relative safety, low cost, less recovery time and positive patient outcomes. Additionally, the intracorporeal lithotripsy devices are able to treat all compositions of kidney stones and have a high success rates for ureteral stones without any major complications. On other hand, lack of innovation and the industry’s interest in funding younger technologies are the major factors restraining the growth of the global lithotripsy devices market.

Extracorporeal lithotripsy device segment is estimated to dominate the lithotripsy devices market by type with more than 70.0 percent and is expected to show incremental opportunity of USD 208.4 million to reach the value of USD 777.1 million by 2026 end. By product type, intracorporeal lithotripsy devices is expected grow at faster pace than extracorporeal lithotripsy devices for global lithotripsy device market and it is projected to growth with the CAGR of 5.3 percent. Among all end users, hospitals are expected to dominate the lithotripsy devices market with 66.6 percent value share in 2017. Hospital segment by end user for global lithotripsy devices market is expected to show incremental opportunity of USD 202.2 million and it is projected growth 4.2 percent.

Europe dominates the market value share for lithotripsy devices and is expected to reach USD 307.5 million by 2026 end. The Asia-Pacific excluding China market for lithotripsy devices is expected to account for the second largest market value share which is then followed by North America. Asia-Pacific excluding China and Europe collectively constitute for around 50 percent of market share. MEA and Latin America are expected to be fastest growing regions for lithotripsy device market due to growing healthcare efforts. – Persistence Market Research