Market Research Future (MRFR) Conducted An Elaborate Study On The Global Kidney Stone Market that predicts the growth of the market with a substantial 4.0% CAGR during the forecast period of 2019-2023. Covered All the Segments and Sub Segments, Along With Top Industry Players and Geological Region.
Global Kidney Stone Market – Synopsis
The global Kidney Stone market is growing rapidly, gaining huge prominence owing to the augmenting prevalence of Kidney Stone. Attributing to the technological advancements transpired in the medical science, the market has grown exponentially, witnessing the emergence of novel treatment procedures, medications & surgeries. Also, the risk factors of Kidney Stone are contributing to the market growth substantially. Kidney Stone could be caused due to many reasons but the one that tops over other reasons is heady life style coupled with the low intake of water.
Other risk factors of kidney stone are chronic inflammation of the bowel, obesity and diabetes. In addition, factors such as diets those are high in protein and sodium but low in calcium, high blood pressure, and conditions that affect the rate of the calcium absorption in the body, chronic diarrhoea.etc. also act as risk factors to the Kidney Stones. Prevalence of afore mentioned conditions fuel the chances of developing the Kidney Stone. This in turn, escalates the market on the global platform.
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Acknowledging kind of the growth the market perceives currently; Market Research Future (MRFR) has recently published a study report giving out the complete market forecast up to 2023. In its analysis MRFR asserts that the global Kidney Stone market growing further, will register a growth of USD 3,000Million by 2023 with a striking CAGR of ~ 4.0 % during 2017 to 2023.Also, prevalence of UTI (urinary tract infections), due to the presence of higher ammonia and pH in urine accounts for the risk factor of
Kidney stones are formations inside the kidney that obstruct the flow of urine in the kidney and can result in considerable pain for the sufferer. The development of kidney stones is dependent on genetic as well as lifestyle and dietary factors. The growth in the prevalence of kidney stones around the world in recent years has been the major driver for the global kidney stones market and is likely to remain a key growth driver over the forecast period. Dietary factors such as excessive consumption of sodium have come to the fore in recent years due to the growing consumption of junk food containing high levels of sodium. Lifestyle factors such as the increasingly sedentary nature of modern urban workers have also contributed to the growing prevalence of kidney stones around the world and are likely to drive the kidney stones market over the forecast period.
Some of the fervent key players, including:
- R. Bard Inc.
- Boston Scientific Corp.
- Convergent Laser Technologies
- Cook Medical Inc.
- Dornier MedTech GmbH
- Elmed Electronics & Medical Industry & Trade Inc.
- Medispec Ltd. And more.
Industry, Innovation & Related News
April 20, 2018 – Dr. Simon Allen, UK’s accomplished internal medicine specialist invented a device for Kidney Care. The device will be a new revolution in providing a risk-free Thermobalancing therapy and non-invasive. The device can dissolve kidney stones naturally by increasing blood circulation in both kidneys.
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The global kidney stones market is segmented on the basis of type, treatment, diagnosis, and region.
By type, the global kidney stones market is segmented into calcium stones, uric acid, cystine stones, and struvite kidney stones. The calcium stones segment holds the largest share in the global kidney stones market due to the difficulty in getting rid of calcium stones, which has led to increasing healthcare expenditure on the segment.
By treatment, the global kidney stones market is segmented into medication, extracorporeal shock wave lithotripsy, ureteroscopy, and percutaneous nephrolithotomy. The ureteroscopy segment is likely to hold the dominant share in the market over the forecast period due to its uniform applicability on all kidney stones patients.
By diagnosis, the global kidney stones market is segmented into ultrasound, intravenous pyelography, CT scan, and X-ray. Ultrasound is the dominant diagnosis method used in the global kidney stones market due to its radiation-free application.
Geographically, North America is the leading market for Kidney Stone, accounting for the largest i.e. 50.8% of market sharein 2016, followed by the markets of Europe & Asia Pacific, respectively. The market is growing due to the largest contribution from the significantly growing market of the US attributing to the high expenditure on healthcare. Moreover, increasing prevalence of kidney diseases, and rising demand for treatment measures provide impetus to the market growth. Continuing with the same growth trends, the North America market is expected to reach USD 7 million by 2023.
On the other hand, Europe, the world’s second-largest market for Kidney Stone is driven by the high per capita income and strong healthcare penetration in the region. The strong market growth in the countries like Germany & France drives the regional market growth in the large scale. Attributing to the increasing investment in healthcare and rising number of patients with renal diseases, the market is projected to register a phenomenal CAGR
While Asia Pacific market for the Kidney Stone is expected to perceive an exponential growth. The market growth will be led by China and India owing to the huge population and the burgeoning medical treatment market in the region. Vietnam, Thailand, and Malaysia among the other South East Asian countries are projected to contribute significantly to the regional market growth. With the growing Medical Tourism markets in India & Malaysia the APAC region will register a CAGR of 4.9% during the review period.
Global Kidney Stone Market – Competitive Analysis
The global Kidney Stone market is fiercely competitive with the presence of several large and small players operating in the market. These market players acquire promising companies to expand in the fast-growing markets, focusing on improving their market performance. The structure of the market is changing due to the acquisition of local manufactures by the multinational companies. Strategies like product innovations and technologies are creating strong investment opportunities for the market players.
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