Market Overview:
The kidney stone market is witnessing various growth possibilities with the sector relishing advancing technologies such as minimally invasive surgeries. These kinds of treatments have made it possible for the market to reach out to more patients who were previously ignorant. Kidney stones are basically masses found in the kidney in crystalized form, and if not detected early, it can impact the urinary tract. People migrating from rural areas to urban areas in search of the job has had a lot of impact on their physiology. Not just that but the urban lifestyle is witnessing an overhauling change due to the increasing industrial activity. As a result, dietary changes are now affecting people more and coupled with genetic reasons, and previous surgical issues it can trigger the development of kidney stone. As a remedy, surgical or medicinal procedures are appreciated.
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The global kidney stone market can expect a 4% CAGR during the forecast period (2017-2022), and its market valuation can touch USD 1,192.2 million by the end of 2022. Market Research Future’s (MRFR’s) report on the same encompasses segmental analysis, factor-wise discussion, and opinions from market experts.
As a major driving factor, the minimally invasive surgery can do great. The surgery has lessened the fear among patients and has emerged as the choicest preference for many. Cases of malnutrition and urolithiasis are also breaking out often which can be considered significant market influencer. Imaging technology is also witnessing a prolific run which can impact the global kidney stone market. Better equipment associated with it and its efficiency and accuracy are providing necessary thrusts to the market growth.
Competitive Landscape:
Prominent players in the kidney stone market are C.R. Bard Inc., Boston Scientific Corp., Convergent Laser Technologies, Cook Medical Inc., STORZ MEDICAL AG, Dornier MedTech GmbH, DirexGroup,E.M.S. Medispec Ltd., Olympus Corp., Electro Medical Systems S.A., Elmed Electronics & Medical Industry & Trade Inc., Richard Wolf GmbH, Siemens Ltd., Stryker Corp., and others.
In January 2018, researchers from the Murdoch School of Engineering and Information Technology had revealed a new type of modeling that can predict the state of the certain biochemical conditions in the body responsible for the formation of the kidney stones.
The same time frame also witnessed the revelation dictated by Oxalo Therapeutics, a startup in Chicago. They planned to prevent kidney stone. Their study results exhibited that intestinal bacterium Oxalobacter formigenes have the solution that can be initiated naturally. The bacteria consume oxalate to prevent components from passing to the kidney, hence, the formation of kidney stone.
Segmental Analysis:
The global kidney stone market can be segmented by test type, treatment type, and diagnosis for a better understanding of the upcoming years.
Based on the test type, the kidney stone market can be segmented by uric acid, struvite kidney soles, calcium stones, and crystal stones. The market can exceed a valuation of the USD 1,561.7 million by 2022.
Based on the treatment type, the kidney stone market includes percutaneous nephrolithotomy (PCNL), ureteroscopy (URS), extracorporeal shock wave lithotripsy (ESWL), and medications. The uteroscopy market is promoting the market where it can ask for kidney stone verification.
On the basis of diagnosis, the kidney stone market can be segmented into computed tomography (CT) scan, X-ray, intravenous pyelography (IVP) or intravenous urogram, and ultrasound. Diagnosis market is the biggest one with a projected valuation touching USD 1101, 6 million by 2023.
Regional Analysis:
Region-specific analysis of the kidney stone market has four countries mainly, North America, Europe, Asia Pacific, and the Middle East & Africa.
North America is having a gala time in the global market with a market share of 43.9% as of 2015. The healthcare sector is quite strong in this region, and its infrastructure is superior beyond comparison which can trigger sumptuous growth. The region is further investing substantially which can be of much help in the coming years.
Europe assumes the second spot and is the fastest growing market as the awareness level, apart from similar features like that of North America, is driving the market ahead.
The APAC market is also quite big with China commanding almost 30.1% share of the regional market, and its market valuation can exceed USD 155.9 million by 2022. But the MEA market is not showing much promise as countries are performing poorly in the region in terms of economic revival.
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