Global rise in the demand for the extracorporeal shock wave lithotripsy market is anticipated over the next seven years due to rising incidences of diabetes, obesity and renal dysfunction that leads to development of gall bladder and kidney stones. The market also caters to diseases such as urinary calculi and bladder calculi. According to global surveys conducted by the WHO and the UN, demographic and lifestyle changes accompanied with rising healthcare awareness and spending are vital drivers for the extracorporeal shock wave lithotripsy market growth. The study also stated the higher occurrence of these diseases in females compared to males. Benefits offered by the market such as minimal pain and invasiveness and quicker recovery time further boosts the market growth.
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The market is segmented on the basis of technology, end-use and treatment. Technologically, the market includes the three techniques globally used that are electrohydraulic, electromagnetic and piezoelectric. Of the three techniques enlisted, electrohydraulic held the largest market share in 2014 due to higher applicability and greater reliability of physicians over this technology. Piezoelectric technique is gaining popularity and is expected to gain higher market share over the forecast period. On the basis of treatment, the extracorporeal shock wave lithotripsy market includes uretric and renal stones and bladder calculi. Hospitals currently held more than 50% of the market share while clinics are expected to be the fastest growing end-use segment of the market.
North America reported the largest share for the extracorporeal shock wave lithotripsy market in 2014 due to presence of large population of obese and diabetic patient prone to development of stones is expected to spur the market. Asia Pacific and MEA (Middle East and Africa) are expected to witness the fastest growth during the forecast period. Increasing disposal income, lifestyle associated changes in the population and presence of market growth oriented regulatory policies is the impact rendering drivers for the growth. Furthermore favorable insurance coverage for the treatments is expected to affect the growth of the market during the forecast period.
Major market players for the extracorporeal shock wave lithotripsy market include 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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