Chile Extracorporeal Shock Wave Lithotripsy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Chile Extracorporeal Shock Wave Lithotripsy Market: Overview
The Chile extracorporeal shock wave lithotripsy market has been estimated to grow at a significant pace during the forecast period. This market growth can be attributed to the increasing adoption of minimally invasive procedures and with the high-risk factors, which cause different healthcare issues or disorders such as renal dysfunction, obesity, diabetes, and kidney stone. Furthermore, increasing awareness related to the advantages of ESWL (extracorporeal shock wave lithotripsy) compared to other traditional techniques also serve as another major contributor to developing growth opportunities in the market.
There has been a noticeable development in the surgical techniques that are being replaced with conventional procedures. This factor is also anticipated to contribute to the growth dynamics of the market.
ESWL has been an effective and safe method for the delivery of shock waves to provide treatment against kidney stones. The great efficacy, cost-effectiveness, noninvasive nature, and ease of usage for the treatment of stones are some of the benefits of the ESWL method. In addition to this, these processes are conducted in various outpatient departments due to a shorter turnaround time. Thus, based on these factors, the Chile extracorporeal shock wave lithotripsy market has been expected to experience significant growth prospects.
Chile Extracorporeal Shock Wave Lithotripsy Market: Key Trends
The manufacturers from the Chile extracorporeal shock wave lithotripsy market have been concentrating to develop technologically improved products for the consumers. In addition to this, faster product approvals are also serving as one of the key factors to drive growth opportunities in the market during the forecast period.
The sudden outbreak of the COVID-19 has also put a significant impact on patients with a kidney stones. The usage of opioids increased anxiety, and delays in the treatment procedures are some of the impacts of the pandemic on these patients. The consequence of these incidents can be felt for a longer period of time.
All elective and outpatient interventional procedures were canceled or limited during the period of the pandemic in order to reduce the risk of transmission of the infection among people. The key reason for this suspension of the services is considered to most services as non-urgent. The count of the urology patient beds has been reduced in order to make space for the newly infected coronavirus patients. Furthermore, delays have also been noticed in the export and import of the machines of ESWL.
The rapidly increasing healthcare expenditure in the country has been estimated to create expansion opportunities in the Chile extracorporeal shock wave lithotripsy market in the forthcoming years.
Chile Extracorporeal Shock Wave Lithotripsy Market: Competitive Dynamics and Key Developments
The key players operating in the Chile extracorporeal shock wave lithotripsy market are incorporating different strategies in order to propel the growth avenues in the upcoming years. Product approvals, strategic collaborations, geographical expansion, mergers, innovations, partnerships, acquisitions, and novel product launches are applied by the major companies for creating expansion opportunities in the market. Further, strong competition among the well-established market players for product launching is anticipated to fuel growth prospects in the market.
For instance, Olymous has launched the SoltiveTM SuperPulsed Laser System in June 2020. Olymous is a global leader in the technology to design and deliver different innovative solutions for medical and surgical procedures. This newly developed application is of thulium fiber laser technology that is designed for soft tissue and stone lithotripsy applications.
Some key players in the Chile extracorporeal shock wave lithotripsy market are:
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