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What is the Projected Growth Rate of the Lithotripsy Devices Market from 2024 to 2033?

The market size for lithotripsy devices has seen robust growth in the past few years. The market value is projected to expand from $1.21 billion in 2023 to $1.28 billion in 2024, marking a compound annual growth rate (CAGR) of 5.9%. The previous growth is credited to factors such as the advent of extracorporeal shock wave lithotripsy (eswl), corroborative clinical evidence and research, patient inclination towards non-invasive procedures, market penetration in healthcare infrastructure, regulatory approvals and norms, and training and education for physicians.

In the coming years, the lithotripsy devices market is set to experience consistent expansion. Anticipated to reach a valuation of $1.54 billion by 2028, the market will grow at a compound annual growth rate (CAGR) of 4.6%. This growth is a result of factors such as an increased incidence of urolithiasis, an aging population, a shift towards methods that are less invasive, a favoring for treatment outside the hospital, and a rise in the implementation of techniques which do not require sedation. Major trends anticipated in this period encompass the use of disposable devices, team-led care, incorporation of telemedicine and remote monitoring, non-invasive substitutes, and the development of home-based lithotripsy procedures.

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What Are the Key Drivers of Growth in the lithotripsy devices Market?

The lithotripsy device market is projected to expand as a result of the increasing global senior citizen population. People aged 65 and above are typically considered part of this group. The rise in instances of kidney stone diseases and urolithiasis, particularly among the ever-increasing senior population, has led to a higher demand for lithotripsy devices. These devices provide minimally invasive treatments to eliminate kidney stones and treat urolithiasis within this particular demographic. As per the World Health Organization’s data sheet from October 2021, by 2030, the world’s population of those aged 60 and above is expected to rise to 1.4 billion from 1 billion in 2020. Consequently, the surging numbers of the global senior population are fueling the growth of the lithotripsy device market.

What Are the Notable Segments in the Lithotripsy Devices Market?

1) By Type: Extracorporeal Shock Wave Lithotripsy Devices, Intracorporeal Lithotripsy Devices, Laser Lithotripsy Devices, Electrohydraulic Lithotripsy Devices, Ultrasonic Lithotripsy Devices, Mechanical Lithotripsy Devices

2) By Applications: Kidney Stones, Ureteral Stones, Pancreatic Stones, Bile Duct Stones

3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users

Which Emerging Trends Are Altering the Lithotripsy Devices Market?

The rise in technological advancements is a notable trend gaining traction in the lithotripsy device market. Many dominant companies in this market are focusing on crafting technologically superior tools to stay ahead. An example of this is seen in January 2022 when Cardiovascular Systems Inc., an American lithotripsy and other medical device production company, harnessed intravascular lithotripsy technology to handle coronary and peripheral artery diseases. This groundbreaking therapeutic system targets patients with coronary and peripheral artery diseases. This approach empowers Cardiovascular Systems Inc to provide a diverse array of products designed to manage a wide spectrum of calcified coronary afflictions.

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Which Regions Are Most Influential in Expanding the Lithotripsy Devices Market?

North America was the largest region in the lithotripsy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lithotripsy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Lithotripsy Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the lithotripsy devices market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Lithotripsy Devices Market Include

1. Lithotripsy Devices Market Executive Summary

2. Lithotripsy Devices Market Segments

3. Lithotripsy Devices Market Size And Template Market Growth Rate

4. Key Lithotripsy Devices Market Trends

5. Major Lithotripsy Devices Market Drivers

……

25. Key Mergers And Acquisitions In The Lithotripsy Devices Market

26. Top Lithotripsy Devices Companies

27. Lithotripsy Devices Market Opportunities And Strategies

28. Lithotripsy Devices Market, Conclusions And Recommendations

29. Appendix

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