Technavio market research analysts forecast the global lithotripters market to grow at a CAGR of more than 2% during the forecast period, according to their latest report.
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Technavio has published a new report on the global lithotripters market from 2017-2021. (Graphic: Business Wire)
The market study covers the present scenario and growth prospects of the global lithotripters marketfor 2017-2021. The report also lists extracorporeal shock wave lithotripsy (ESWL) system and intracorporeal lithotripsy system as the two major product segments, of which the former accounted for close to 65% of the market share in 2016.
"The high prevalence of kidney stones in APAC along with improved healthcare services makes it a lucrative region for market growth. Governments in the region are investing in the development of healthcare infrastructure, which enables access to advanced techniques such as MI procedures. Latin American countries such as Brazil and Mexico and Eastern European countries such as Poland and Hungary are also lucrative markets that offer opportunities for growth during the forecast period," says Anushree Dhar, a lead analyst at Technavio for urology devices research.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global lithotripters market:
- Low procedure cost in emerging countries
- Increasing incidence of urolithiasis
- Growing number of ESWL procedures
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Low procedure cost in emerging countries
Kidney stone removal is an expensive procedure in developed countries such as the US, the UK, and Germany. The procedure costs USD 12,000-USD 25,000 depending on the type of healthcare facility, size of stone, and availability of reimbursements. However, in developing countries, the procedure cost is comparatively low.
Government-run healthcare facilities such as the hospitals run by the National Health Service (NHS) offer low-cost kidney stone removal procedures. The lower procedure cost in emerging countries such as South Africa, Mexico, Saudi Arabia, and Spain will drive the growth of the market during the forecast period.
Increasing incidence of urolithiasis
Urolithiasis is one of the most common urological disorders. The incidence of urolithiasis varies in different geographical regions. The incidence of urolithiasis is increasing in Egypt, Pakistan, India, and other emerging countries. The rising incidence of conditions such as obesity, hypertension, and diabetes may increase the risk of urolithiasis.
"Various factors such as low consumption of water, lack of exercise, weight loss surgeries, digestive diseases, and consumption of high-protein diets increase the salt or sugar concentration in the body. This increase in salt or sugar concentration in the body may contribute to the formation of kidney stones. Hence, the increasing incidence of urolithiasis will drive the growth of the global lithotripters market during the forecast period," says Anushree
Growing number of ESWL procedures
Technological advances in healthcare have resulted in the development of effective and customized products. There has been a shift in preference from open surgeries to MI procedures for the removal of kidney stones. ESWL is one of the most commonly used procedures for the removal of kidney stones. Lithotripters provide a focused and high-intensity acoustic pulse that is externally applied to break kidney stones. The demand for ESWL is increasing as it is an outpatient procedure that allows patients to return to their routine almost immediately. The ESWL procedure has a minimal analgesic requirement and offers a high success rate. Thus, the growing number of ESWL procedures will drive the growth of the market during the forecast period.
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