Gallstone Market Size, Upcoming Trends, On-Going Demand by 2023
According to a new report by Market Research Future (MRFR), the global gallstone market has been anticipated to expand at 7.9 % CAGR during the forecast period (2017-2022) owing to the increase in gallbladder diseases globally.
Gallstones develop due to chemical imbalance of bile inside the gallbladder. Stones generally formed as the cholesterol level in bile increases and the cholesterol forms into stones. It has been predicted that in the UK, more than one in every ten adults suffer from gallstones. Around 80 % of the people suffering from gallstones don’t have pain as these are silent gallstones, asserts American College of Gastroenterology.
Future Drivers and Restraints Impacting the Market
Major causes of gallstones comprise blood sugar imbalance, estrogen dominance, food allergies and sensitivities, chronic stress, low fiber diet, low stomach acid production, obesity, rapid weight loss, low-fat diet, cholesterol-lowering medications, and others. Moreover, the continuous changing lifestyle coupled with unhealthy eating habits are also some of the major factors propelling the market growth. With increasing demand for treatment options, the gallstone market is likely to expand.
Companies are developing cost-effective products that have minimum side effect. Several companies are also adopting strategies for acquisitions and launching new products to strive in the competitive market. The competition amongst new market players is also expected to upsurge the market growth.
Meanwhile, complications such as infection, bleeding, bile leakage, bile duct injury, deep vein thrombosis, post-cholecystectomy, and pain during the surgery along with asymptomatic nature of gallstones are predicted to slow down the market growth over the assessment period.
North America Estimated to Hold the Largest Share
Geographically, the market for gallstones has been spanned across North America, Europe, Asia Pacific, and the Middle East and Africa.
North America has been estimated to hold the largest share due to the presence of huge patient population suffering from gallbladder disease. High spending on healthcare along with a well-developed healthcare sector has contributed to the global market positively.
Europe holds the second largest position owing to the increased government for research and development. The UK, Germany, and France are the major contributors in this region. Ultrasound studies revealed an incidence of 0.63/100 persons per year and a prevalence of 9 to 21% in the European region, asserts World Gastroenterology Organisation.
The prominent players operating the growth of the market comprise NovaTract Surgical LLC (California), Sklar Surgical Instruments (US), Olympus America Inc. (U.S.), Medtronic plc (Ireland), Intuitive Surgical Inc. (California), Fortimedix Surgical, Levita Magnetics (California), Simulab Corporation (US), and others.