The Kidney Stone market is rapidly growing currently and gaining a huge traction owing to the rising prevalence of Kidney Stone. 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. The other kidney stone risk factor that largely support the growth of the Kidney Stone market include chronic inflammation of the bowel, obesity and diabetes. The Kidney Stone market has been accreting phenomenally over the past a decade or two attributing to the technological advancements that take place in the market.
Accrediting the exponential accruals of the Kidney Stone market in the current scenario and determining the growth heights the market will climb up to in the years to come, the Market Research Future, has recently published a meticulous study report letting out the Market prognosis up to 2023 accentuating the development policies and plans of industry players. According to which, The Kidney Stone market is accruing and expected to gain further prominence over the forecast period. The global market of Kidney Stone is projected to account for upsurge accretions of US$ 3,000 million by 2023 with a striking CAGR of ~ 4.0 % during 2017 and 2023.
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Boston Scientific Corp., C.R. Bard Inc., Convergent Laser Technologies, Cook Medical Inc., DirexGroup, Dornier MedTech GmbH, E.M.S. Electro Medical Systems S.A., Elmed Electronics & Medical Industry & Trade Inc., Medispec Ltd., Olympus Corp., Richard Wolf GmbH, Siemens Ltd., Storz Medical AG, and Stryker Corp. are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Kidney Stone Market.
The Kidney Stone market is driven by a numerous reasons including growing prevalence of Kidney Stone cases attributing to the factors such as recurrent urinary tract infections, due to the presence of higher ammonia and pH in urine. Moreover, technological advancements transpired in the field of Kidney Stone treatments coupled with the availability of novel treatment methods and innovative medications and treatments are fostering the market growth of Kidney Stone Market to an extent.
Generally, chronic inflammation of the bowel, is experienced with a condition like ulcerative colitis. Chronic bowel inflammation thus leads to the diarrhoea that dehydrates the body. Dehydration slows down urination or urinification process making urine further more concentrated, which can contribute to stone formation, Chronic bowel inflammation also makes it harder for GI system to absorb various substances that bind with different minerals and salts to prevent stones, like fatty acids and the citric acid citrate. Obesity is an another kidney stone risk factor, which is associated with resistance to the insulin hormone meant to control the blood sugar levels, elevated levels of insulin in the bloodstream, and acidic blood pH this may cause increased amounts of calcium to be excreted into urine. Also, eating too much salt and animal protein, which can contribute to obesity, can also increase the risk of stone formation. Diabetes can also promote kidney stones. This is in part due to the association between type 2 diabetes and obesity and insulin resistance, and in part because people with diabetes may have higher levels of uric acid in their urine. An anonymous study even suggests that living in warm, wet climes may increase the risk of harbouring kidney stones, according to a new study.
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All these reasons are contributing to the prevalence of Kidney Stone and eventually are driving the market growth of Kidney Stone pervasively.
Kidney Stone Market – Competitive Analysis
Various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The Market demonstrates high growth potential which is likely to attract several new entrant in the market. Further resulting in intensified completion. Top players are investing heavily in R&D and clinical trials to develop effective drugs to treat Kidney Stone. Pharma companies operating in the market are researching and developing innovative medications and new therapeutic approaches that help make a difference to people’s lives. These companies strive to discover innovative drugs and treatments that can improve the quality of life for patients. These also focus on therapeutic areas with a high unmet medical need, areas that require further innovation despite the progress that has been made.
Industry, Innovation & Related News
29 November 2017 –
A unique treatment, i.e. Thermobalancing therapy and Dr Allen’s Device, were patented in the US as “Therapeutic device and method” for chronic internal diseases such as BPH, kidney stone disease, chronic prostatitis and back pain. Thermobalancing therapy with Dr Allen’s Device reverses prostate enlargement, provides pain relief and dissolves kidney stones. The essence of Thermobalancing therapy and its effectiveness in tackling the cause of various chronic internal diseases, such as kidneys, prostate, joints and others.
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Kidney Stone Market – Regional Analysis
The Americas region accounted for the largest share of the global market, which had a lion share of 50.8% in 2016, as a result of increasing prevalence of kidney diseases, growing emphasis on healthcare, and rising demand for treatment measures. Americas is anticipated to reach USD 7 million by the end of the forecast period.
Europe is the second largest market that holds a noticeable share of the global kidney stones market. The European market is expected to grow significantly during the forecast period owing to increasing investment in healthcare and rising number of patients with renal diseases.
Globally, Asia Pacific is the fastest growing region and expected to grow at a rate of CAGR 4.9% during the forecast period. In Asia Pacific, rising number of hospitals, geriatric population with kidney problems, and demand for cost-effective treatment & diagnostics services are the key factors for the market growth. Increasing prevalence of renal diseases, for instance, a huge number of patient suffering from severe renal disease will affect the market growth positively.
The Middle East & Africa is expected to show steady growth in this market due to low technology penetration and less availability of innovative healthcare technologies.
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