LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global lithotripters market to grow at a CAGR of more than 2% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global lithotripters market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors operating in the market. It also examines key emerging trends and their influence on current and future markets.
According to Bharath Palada, a lead analyst at Technavio for urology devices research, “The recent advances in shock wave lithotripsy have shown successful results in treating kidney stones, including imaging optical or acoustic tracking systems that facilitate targeting stones and reduce X-ray exposure.”
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Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global lithotripters market:
- Increasing incidence of urolithiasis
- Growing number of ESWL procedures
- High growth potential in emerging countries
Increasing incidence of urolithiasis
There is an increased prevalence of urolithiasis over the past few years across the world. Around five million people are diagnosed with kidney stones worldwide every year. The recurrence rate is nearly 50% or more up to five years and 80% up to 10 years. Diseases such as obesity, hypertension, and diabetes have led to an elevated risk of urolithiasis among individuals.
“The primary reasons for the rise in prevalence of stone diseases are poor diet, less intake of fluid, obesity, and metabolic syndrome. Other factors include less physical exercise, weight loss surgery, digestive diseases, high intake of salt, protein, or sugar in the diet,” says Bharath.
Growing number of ESWL procedures
The extracorporeal shock wave lithotripter (ESWL) is the most frequently used procedure for eliminating kidney stones, wherein the lithotripter makes use of a focused and high-intensity acoustic pulse that is externally applied to breakdown the kidney stones. According to research, about 600,000 ESWL procedures were performed in 2014, worldwide.
There is a growing use of this procedure because it is a non-invasive, outpatient surgery performed by directing shock waves that are created outside the body and passed through skin and tissue to the target area. It is an effective procedure for the removal of kidney stones that are radio-opaque and less than 20 mm in diameter.
High growth potential in emerging countries
The lithotripters market has reached its maturity level in most of the developed countries such as the US, Germany, the UK, France, and Japan. However, emerging countries globally have tremendous growth opportunities owing to rising awareness levels, improvements in healthcare infrastructure, and favorable government initiatives.
Emerging countries in APAC region such as India and China are experiencing rapid economic growth and hence, the focus has shifted toward improved healthcare services. Governments are spending on healthcare infrastructure, thereby increasing the access to advanced techniques such as MI procedures. Thus, global vendors such as Boston Scientific, Olympus, and STORZ MEDICAL are increasingly focusing on emerging countries to increase their market shares.
Moreover, emerging countries offer treatments at relatively lower prices compared with developed nations, which makes them hot spots for medical tourism. Global warming may also significantly contribute to the prevalence of kidney stone diseases.
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