Global extracorporeal shock wave lithotripsy market is expected to witness lucrative opportunities during the next seven years. Extracorporeal Shock Wave Lithotripsy (ESWL) is used for treatment of kidney and ureter stones. This technology has been utilized by physicians worldwide and is expected to increase its penetration over the coming years due to the advantages offered by such as minimal invasiveness, reduced pain, and shorter hospital stay and quicker recovery time. Availability of world class equipment to perform the procedures and further increasing infrastructure development expenditure by healthcare professionals are other vital drivers of extracorporeal shock wave lithotripsy market. Furthermore, the increasing prevalence and incidences of reporting of kidney stones in patients and their recurrence over time is expected to propel the extracorporeal shock wave lithotripsy market during the forecast period. According to the National Health and Nutrition Examination Survey (NHANES) conducted in 2012, development of kidney stones was more prone in women than in males and also that the presence is higher in obese and diabetic population. Increasing prevalence of obesity and other lifestyle associated conditions are also expected to contribute towards the growth of this market. The above foresaid drivers are expected to expand the extracorporeal shock wave lithotripsy market owing to increasing awareness and rising preventive treatment by the prone population.
The market for extracorporeal shock wave lithotripsy is segmented depending on technology, treatment and end use. Technologically the segment is further classified depending on the method of shock wave generation. These include electrohydraulic technique, electromagnetic technique and piezoelectric technique. The electrohydraulic technique is the oldest mechanism used and held the largest market share in 2014 owing to its higher awareness and acceptability among the physicians. However, piezoelectric technique due to added advantages such as the coupling mechanism and reduced use of anesthesia for patients is expected to witness fastest growth during the forecast period. Depending on treatment the extracorporeal shock wave lithotripsy is used for uretric and renal stones and bladder calculi. Depending on end use, the market for extracorporeal shock wave lithotripsy is classified into hospitals, clinics and others. Hospitals held the largest share for the market in 2014 but clinics are anticipated to show augmenting growth due to technological advancement in the technology that reduce complications and prevent hospital stay for patients. With improvement in the techniques used, the duration of surgery along with recovery time is probable to reduce thereby promoting the growth of clinics for the extracorporeal shock wave lithotripsy market.
Extracorporeal shock wave lithotripsy held the largest share in North America in 2013 and is expected to grow at a lucrative CAGR over the forecast period. Presence of large number of obese and diabetic patient prone to development of stones is expected to spur the market. Augmenting growth is further expected due to the increasing number of healthcare facilities in the region and the changing demography. Regionally the fastest growing segment is expected to be Asia Pacific due to increasing healthcare facilities, improvisation of the infrastructure, favorable insurance policies, rising lifestyle changes in the population and presence of market growth oriented regulatory policies. Increasing medical tourism to countries such as South Korea, New Zealand and India further promotes healthcare spending into the market.
Globally, the extracorporeal shock wave lithotripsy market is catered by companies such as Boston Scientific Corporation, C.R. Bard Inc., Cook Group Inc., Medtrue Enterprise Co. Ltd., Sainty Pharma, Siemens AG, Lumenis LTD, Olympus Corporation, Dornier MedTech GmbH and Karl Storz Gmbh and Co. KG.
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