New Study: The Lithotripsy Devices Market Will Radically Change Globally in Next Eigth Years
Lithotripsy is a procedure that uses ultrasound shock wave to break stones in the kidney and in other organs such as gallbladder, liver, and urethra. Kidney stones occur when substances such as urine crystallize in kidney forming stones or solid mass, which does not allow the urine to pass out through the body. Thus, formation of this stones can lead to bleeding, severe pain in urinary tract, infection and kidney damage. The kidney stones are the common causes of blood in urine and bladder pain.
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Various types of lithotripsy treatment such as extracorporeal shock wave lithotripsy (ESWL), intracorporeal (endoscopic lithotripsy), laser lithotripsy, electrohydraulic lithotripsy, mechanical lithotripsy and ultrasonic lithotripsy are used across the globe.
Extracorporeal shock wave lithotripsy (ESWL) is one of the most common lithotripsy which means outside the body, this refers to the shock wave treatment. During ESWL a special machine known as lithotripter, generates high-energy shock waves, such as sound waves, x-ray or ultrasound, which passes through the body until they do not hit the kidney stones. ESWL is a noninvasive that means there is no need to perform any open surgery, generally this procedure is safe and less time consuming, it only takes 45 minutes to perform. The laser lithotripsy is also used in the removal of stones from kidney, ureter and bladder, it is a surgical procedure and takes time to perform the surgery.
Lithotripsy devices market is driven by increase in geriatric population, technological advancement, increase in incidence rate of urolithiasis disease cases, and rise in number of extracorporeal shock wave lithotripsy procedures.
As per National Kidney Foundation, Inc., yearly around 0.5 million new people worldwide suffers from kidney stones problem and around 1 out of 10 people have kidney stone problem around the globe. Furthermore, in U.S. around 1 out of 7 people suffers from chronic kidney disease yearly.
Increase in geriatric population and incidence rate of urolithiasis expected to support the growth for lithotripsy devices market in the near future
North America is expected to contribute major market share followed by Europe. Furthermore, rapid rise in geriatric population in Asia Pacific is expected to position it as a fast growing market for lithotripsy devices market.
According to the data of Ministry of Statistics and Program Implementation, in 2016, around 103 million people in India were over 60 years of age. Also, as per data published by Organization for Economic Co-operation and Development (OECD) the geriatric population in 2014, was accounted around 17.26% and 14.50% of the overall population in the U.K. and U.S., respectively. The number is expected to increase steadily in the near future.
As per National Institutes of Health (NIH), in 2017, around 617 million, that means 8.5% out of total population of the world is aged 65 and over, also it is expected that this percentage will reach to 17% in the year 2050 that means around 1.6 billion people will be aged 65 and over in 2050.
Growing prevalence of urolithiasis and the rise in number of extracorporeal shock wave lithotripsy procedures are expected to boost the growth rate of the market during the near future. According to National Center for Biotechnology Information (NCBI), in 2016, the prevalence of urolithiasis in Germany was 1 to 2%, and it is expected that this percentage will increase in the future due to increase in obese population and supported by high dietary intake of animal protein.
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Key players in lithotripsy device market includes:
Medispec LTD , Siemens Ltd., Boston Scientific Corporation, Olympus Corporation, Direx Group, COOK., C. R. Bard, Inc., LUMENIS., Karl Storz Gmbh and Co. KG., Dornier, MedTech.