Rising incidence of kidney stones and ureter stones are expected to boost the extracorporeal shock wave lithotripsy market growth
Extracorporeal shock wave lithotripsy is a non-invasive treatment for kidney stone and biliary calculi, using an acoustic pulse and are also used for salivary stones and pancreatic stones. The lithotripter supplies a high intensity acoustic pulse to crush the stone causing minimal collateral damage to the normal tissue and the shock waves break the stones into smaller portion. Extracorporeal shock wave lithotripsy are widely used by the physician globally due to its important characteristic such as non-invasiveness, recovery time, reduced pain and reduced hospital stay. Extracorporeal shock wave lithotripsy success rate is high for patients with smaller stones such as less than 1 centimeter. Also, rise in prevalence of obesity and increasing diabetic patient population also favors growth of the extracorporeal shock wave lithotripsy market.
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Rampant development of healthcare infrastructure in emerging economies and growing awareness about the availability of technically developed equipment to carry out the procedures favors growth of the market. After extracorporeal shock wave lithotripsy treatment, patient can resume daily activities within one to two days. According to the National Health and Nutrition Examination Survey held in 2012, prevalence of kidney stone was found to be higher in women than in males.
Extracorporeal shock wave lithotripsy market is being fuelled by rise in incidence of kidney stones
Extracorporeal shock wave lithotripsy is a valuable tool for eradication of stones from kidney, ureter, gallbladder, salivary gland, or salivary duct. Extracorporeal shock wave lithotripsy is used to find the stone and break it down into smaller fragments. Extracorporeal shock wave lithotripsy generates shockwaves, which are then focused onto the stone present in body with negligible diversion of energy that favors minimal damage to tissue. Extracorporeal shock wave lithotripsy is also most effective in treatment of non-obstructing renal calculi. Whereas the composition and density of stone decides the rate of shockwaves to be generated. According to Centers for Disease Control and Prevention, number of adults diagnosed by kidney disease are 4.9 million in the U.S. in 2015.
Furthermore, improvement in healthcare facilities, awareness regarding available technique promote the market of extracorporeal shock wave lithotripsy.
Growth engines for extracorporeal shock wave lithotripsy market
Most populated and urbanized regions such as North America, Asia-pacific and European region in the world that uses the advanced devices for treatment purpose shows the largest extracorporeal shock wave lithotripsy market. Europe also favors the growth of market due to increased government investment. The high growth in India and China can be attributed to government and venture capital investments in the field of extracorporeal shock wave lithotripsy to develop the market. Increase in incidence of kidney stone disease in the U.S. also favors the market of extracorporeal shock wave lithotripsy.
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The key players dominating the global extracorporeal shock wave lithotripsy market
Investment in medical device technology and R&D have increased the competition among the manufacturers. Whereas manufacturers are focusing on offering advanced features to extracorporeal shock wave lithotripsy at affordable prices to gain a competitive edge in the market. The key players operating in the market are Boston Scientific Corporation, C.R. Bard Inc., Lumenis LTD, GE Healthcare and Siemens AG.
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