Technavio, a tech-focused market research firm, has published a new report on the global lithotripters market, which is expected to experience a slow but steady growth rate with a CAGR of around 2% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global lithotripters market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global lithotripters market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global lithotripters market for 2015 (market share %)
|
Americas |
45% |
|
EMEA |
38% |
|
APAC |
17% |
Source: Technavio
Lithotripters market in the Americas
The Americas accounted for around 45% share in the global lithotripters market, with the US being the major contributor. One of the major factors contributing to the growth of the market is the increasing older population and the growing prevalence of urology disorders, such as urolithiasis, high recurrence and prevalence rates of kidney stones (renal anomalies). These growing incidences of urolithiasis have led to the high adoption of ESWL and ISWL in the US.
According to Barath Palada, a lead analyst at Technavio, specializing in research on urology devices, “The emergence of advanced lithotripters such as Holmium laser, multiple clinical applications of lithotripsy devices, and the availability of private and government-sponsored health insurance in the US will drive the market growth in the US. In addition, the adoption of robotic surgeries and MI lithotripsy procedures in the US will be another factor fueling growth in the market.”
The advances in product design and application and the availability of reimbursements by Medicare have also contributed to market growth in the US. Also, several manufacturers are implementing strategies for product innovations and product line extension to increase their revenues. The evolving guidelines from the American Urology Association (AUA) and Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) have provided the diagnosis and therapeutic tool for treating multiple urinary tract pathologies with better design and techniques, which has increased the demand for lithotripsy procedures in this region. Manufacturers are also focusing on providing MI technologies to provide early diagnosis, early detection of diseases, and effective treatment strategies. They are providing innovative and cost-effective quality products and are establishing direct sales subsidiaries and providing training programs for the healthcare providers. Further, vendors are also focusing to offer value-added services and customer services to increase their customer base.
Click here to request a free sample of this report
Lithotripters market in EMEA
The rising incidences of urology disorders and the guidelines from the European urology association are expected to fuel the market growth during the forecast period in EMEA. Countries in Western Europe such as the UK and Germany predominantly dominate the market in EMEA. Several key vendors are also strengthening their distribution channel networks and sales force in this region. Increasing older population, changing lifestyle, and eating habits has led to the increased prevalence of stone disorders resulting in the higher adoption of lithotripters in EMEA. The healthcare agencies and insurance policy providers are expecting integrated value propositions from manufacturers in terms of safety, efficiency, performance, and long-term cost-effectiveness.
Lithotripters market in APAC
The developing countries such as China and India are expected to be the highest contributors to the lithotripters market in APAC during the forecast period. The market is expected to be benefited predominantly from the high prevalence of urolithiasis in this region. Improvement in medical facilities, increasing healthcare spending, and growing older population are among the significant growth drivers in the APAC market. The availability of better medical facilities encourages the use of advanced technologies to treat urology disorders. Further, the growing awareness about various MI surgeries is expected to contribute to the growth of the market during the forecast period.
The top leading vendors operating in the global lithotripters market are:
- Boston Scientific
- Direx Group
- Dornier MedTech
- Siemens Healthcare
- STORZ Medical
- Olympus
Other prominent vendors in the market include Allengers Medical Systems, Aymed, CellSonic Medical, Convergent Laser Technologies, Cook Medical, Elmed Electronics & Medical Industry & Trade, EMD Medical Technologies, GEMMS, Gyrus ACMI, Jena Med Tech, Medispec Ltd., NOVAmedtek, Shenzhen Huikang (Wikkon) Medical Apparatus, and Shenzhen Hyde Medical Equipment Co., Ltd.
A more detailed analysis is available in the Technavio report tilted, ‘Global Lithotripters Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Urology Robotic Surgery Market 2016-2020
- Global Dialysis Services Market 2015-2019
- Global Renal Denervation Market 2016-2020
- Global Gout Therapeutics Market 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
