Chile Extracorporeal Shock Wave Lithotripsy Market Anticipated Forecast 2028 In Key Regions

Chile Extracorporeal Shock Wave Lithotripsy Industry Overview

The Chile extracorporeal shock wave lithotripsy market size is expected to reach USD 3.45 million by 2028, registering a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing risk factors that cause kidney stones and growing preference of patients for minimally invasive procedures coupled with technological advancements are contributing to the market growth. The rising cases of obesity and lifestyle-related diseases are also predicted to contribute to market growth.

Chile extracorporeal shock wave lithotripsy market size, by technology, 2018 - 2028 (USD Million)

Chile Extracorporeal Shock Wave Lithotripsy Market Segmentation

Grand View Research has segmented the Chile extracorporeal shock wave lithotripsy market based on technology, application, and end-use:

Based on the Technology Insights, the market is segmented into Electromagnetic, Electrohydraulic and Piezoelectric.

  • The Electrohydraulic Lithotripters (EHL) segment dominated the market and accounted for the largest revenue share of 55% in 2020. Electrohydraulic lithotripsy (EHL) is portable, quick, efficient, and relatively inexpensive when compared to other procedures for treating challenging stones. The increasing awareness and acceptability among physicians are expected to boost the segment growth at a significant rate over the forecast period.
  • The piezoelectric lithotripters segment is expected to register the fastest CAGR over the forecast period. Of all the lithotripters, the piezoelectric technique has the smallest focal zone. This minimizes impact on the nearing tissues. Also, due to the added advantages, such as the coupling mechanism and reduced use of anesthesia for patients, the procedure is anticipated to witness high demand.

Based on the Application Insights, the market is segmented into Kidney Stone, Pancreatic Stone, Salivary Stone, Other.

  • The kidney stone segment held the largest revenue share of more than 36% in 2020 owing to the rising prevalence of kidney stones and their recurrence over time, also the rising risk factors that cause kidney stones, such as diabetes, obesity, metabolic disorders, intestinal injury, and certain medications. It is a rapidly expanding urological health issue that affects about 12% of the world’s population.
  • The pancreatic stone segment is anticipated to witness the fastest CAGR over the forecast period. Previously it was difficult to clear big pancreatic duct calculi due to limitations of procedures; however, the advancements in ESWL, which fragment stones, is a great treatment option for these patients. Also, it is highly efficient, minimally invasive, less painful, and has a shorter hospital stay and recovery time. All these advantages of this procedure are expected to propel its demand.

Based on the End-use Insights, the market is segmented into Hospital, Clinic and Other.

  • The hospital end-use segment accounted for the largest share of more than 42% in 2020 owing to the high occurrence of kidney stones combined with favorable reimbursement policies. The availability of technologically advanced infrastructure and medical equipment, as well as top-tier surgeons and physicians, is expected to drive the segment. Furthermore, because hospitals constitute Chile’s major health care system, the number of shock wave lithotripsy treatments performed in hospitals is higher than in other healthcare settings.
  • The clinics segment is expected to witness the fastest CAGR during the forecast period. Some of the factors driving the clinics segment include technological advancements, reduced recovery times, and early discharge after treatment. A rising number of clinics offering ESWL is another key factor driving the segment. Furthermore, cost-effectiveness and better reimbursement options in clinics than hospitals will also support segment growth.

Key Companies Profile & Market Share Insights

The market is highly competitive with a large number of manufacturers accounting for a majority of revenue share. Product launches, approvals, strategic acquisitions, and innovations are some of the important business strategies used by market participants to maintain and grow their global reach.

Some of the prominent players operating in the Chile extracorporeal shock wave lithotripsy market include,

  • Boston Scientific Corp.
  • Becton, Dickinson and Company
  • Cook Medical
  • Siemens Healthcare GmbH
  • Lumenis
  • Olympus
  • Dornier MedTech
  • Karl Storz Lithotripsy-America, Inc.
  • MTS Medical

Order a free sample PDF of the Chile Extracorporeal Shock Wave Lithotripsy Market Intelligence Study, published by Grand View Research.

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