Pune, India -- (SBWire) -- 02/13/2018 --MarketResearchFuture.com adds "Kidney Stone Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023" reports to its database.
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The report titled "Kidney Stone Market -Forecast to 2023? is a direct appreciation by Market Research Future of the market potential of the Kidney Stone Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today's winner takes all market! The global kidney stone market is growing at a steady pace and it is expected to grow at a CAGR of ~4.0 % during 2017 to 2023.
Regional Analysis of Global Kidney Stones Market:
Americas secured the largest share of the global kidney stones market, of 50.8% in 2016 and is expected to secure USD 7 million by the end of forecast period. The U.S. accounts for the largest market led by developments in advanced treatment options such as extracorporeal shock wave lithotripsy (ESWL), laser lithotripsy and others. Development of 3D ultrasonography diagnostics is expected to drive future growth. The faster uptake of technology in the U.S. has resulted in extracorporeal shock wave lithotripsy to hold the largest market share in North America
Europe accounts for the second largest market owing to large investment in technology and point of care treatment coupled with growing cases with kidney stones. Asia Pacific region is expected to generate the fastest growth at a rate of CAGR 4.9 % due to growing geriatric population, rising number of hospitals, rising awareness and other factors. Asia Pacific region is expected to be dominated by China and India on basis of huge unmet demand and large populations. Middle East & Africa is estimated to generate moderate growth due to poor healthcare penetration and low per capita income.
Major Market Participants in the Global Kidney Stone Market:
Siemens Ltd., Convergent Laser Technologies, Elmed Electronics & Medical Industry & Trade Inc., Boston Scientific Corp., STORZ MEDICAL AG, C.R. Bard Inc., Olympus Corp., Cook Medical Inc., Richard Wolf GmbH, DirexGroup, Stryker Corp. Dornier MedTech GmbH, E.M.S. Electro Medical Systems S.A., Medispec Ltd., and others.
Market Scenario of the Global Kidney Stones Market
Gall stones are hardened mineral and salt deposits which obstruct normal flow of urine and cause excruciating pain, blood loss in urine, internal bleeding and other conditions. The global kidney stones market and is anticipated to generate USD 3,000 million by the end of forecast period of 2023, growing at a CAGR of ~4.0 %.
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Market Dynamics of the Global Kidney Stones Market:
Drivers:
- Large untapped market especially in the developed world, 10–15% of adults have gallstones. Gallbladder diseases affect about 104 million people in 2015, resulting in 106,000 deaths.
- Development of minimally invasive procedures so as to reduce surgery footprint,
- Increasing risk factors such as poor nutrition, obesity, sedentary lifestyles old age and others. For example, although India currently has a younger population, but the proportion of the population older than 60 years of age is expected to increase to 19% by 2050.
- Technological advancements such as extracorporeal shock wave lithotripsy (ESWL), laser lithotripsy and other noninvasive techniques
- Advantages of minimum invasive treatment such as laparoscopic cholecystectomy over the open cholecystectomy which was the former gold standard of treatment for gallstones. Open cholecystectomy is now reserved for only about 5 percent of all gallbladder operations due to patient related complications.
- Greater miniaturization of surgical instruments has diminished the incision size for surgery. For example, CareFusion, a leading global medical device company, had developed surgical instruments as small as 2.7 mm in diameter, which is half that of the standard conventional instruments which measure approximately 5 mm or 10 mm. the instruments are also constructed with tough ceramic titanium alloy material which provide greater strength comparable to standard 5 mm laparoscopic instruments.
Restraints:
- Lack of awareness and presence of symptomatic alternative treatments
- Growing population especially in the developing world
- High cost of treatment
- Risks of surgery such as pain, infections, bleeding, and others
Segmentation of global kidney stone market:
Types – calcium, struvite, cystine and uric acid.
Diagnostic test - ultrasound scan, CT scan, X-rays, and intravenous urogram.
Treatments - medications, ureteroscopy (URS), percutaneous nephrolithotomy (PCNL), extracorporeal shock wave lithotripsy (ESWL), and others. Ureteroscopy (URS) is estimated to possess the largest market share of 31.48%.
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Kidney Stone Market 2018 : Size, Share Trends and Business Demand : Unleashing the Power of Biotechnology : Forecasts Till 2023
This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Kidney Stone Market over the forecast period.