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Global Gallstone Market Size was valued at USD 0.6 Billion in 2022. The Gallstone market Cause is projected to grow from USD 0.73 Billion in 2023 to USD 0.77 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032). The geriatric population is expanding, elective laparoscopic procedures are becoming more widespread, early illness diagnosis is becoming better understood, and gallstone disease is becoming more prevalent, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The aging population, the prevalence of gallstone disease, the need for elective laparoscopic procedures, and the greater awareness of early illness diagnosis are all expected to have an impact on the market's growth. Cirrhosis of the liver, chronic hepatitis C infections, obesity, metabolic syndrome, diabetes mellitus, dyslipidemia, non-alcoholic fatty liver disease, poor eating habits, inactivity, and other illnesses are all risk factors for gallstone diseases. In the end, it is anticipated that these factors will support market expansion during the projection period.
Additionally, it's likely that the industry is being driven by the rising popularity of elective laparoscopic surgery. For instance, ambulatory laparoscopic cholecystectomies, one of the most common procedures, will be performed in over 400,000 cases in the United States in 2019. Laparoscopic cholecystectomy has been acknowledged as the most effective surgical method for treating gallstone disease since the 1990s. Additionally, robotic surgery is becoming more and more common and useful in general surgery, and in some gastrointestinal operations, it may be more effective than laparoscopic surgery.
It has been established that robotic cholecystectomy is a safe and effective operation. In minimal access surgery, the robot reportedly improves instrumentation, dexterity, and visualization. When compared to laparoscopic cholecystectomy, robotic cholecystectomy has longer operating times and higher hospital costs, but it also has shorter hospital stays and a lower rate of readmission within 90 days following the index procedure. Moreover, the growing incidence of gallbladder diseases is having an effect on the global market. For instance, the third National Health and Nutrition Examination Survey revealed that among Americans aged 20 to 74, 14.2 million women and 6.3 million men had gallbladder illness.
Approximately 33,000 people in Europe between the ages of 30 and 69 were investigated as part of the Multicenter Italian Study on Cholelithiasis (MICOL), and it was discovered that 6.5% of the men and 10.5% of the women among them had gallstones. 84.9% of women and 87% of men had silent gallstones.
As people age, gallstone issues become more prevalent and tend to afflict women more frequently than men. Gallstone issues affect about 5% of males and 20% of women between the ages of 50 and 65. An growth in elderly persons, whose risk of gallstones and other ailments is increased, is driving the industry. In people under the age of 40 compared to people over the age of 70, the probability of having gallstones is around 8% higher. A 60% increase in the frequency of cholecystectomy surgeries has also been attributed to a higher predilection for laparoscopic procedures and a rise in elective surgeries. Thus, driving the Gallstone market revenue.
The global Gallstone market segmentation, based on Cause, includes cholesterol stones, bilirubin, concentrated bile, and others. Cholesterol stones segment dominated the global market in 2022. Gallstones, also referred to as cholesterol stones, are a disorder where the gallbladder becomes inflamed. The segment dominance is brought on by cholecystitis' high prevalence and incidence. For instance, the prevalence of acute cholecystitis is around 6,300 per 100,000 individuals under the age of 50 and 20,900 per 100,000 individuals over the age of 50 worldwide.
The global Gallstone market segmentation, based on Diagnosis, includes ultrasound, abdominal CT scan, gallbladder radionuclide scan, blood tests, and others. Ultrasound segment dominated the global market in 2022. This is a result of various factors, such as the rising prevalence of gallstone disease and the improved early sickness detection expertise.
The global Gallstone market segmentation, based on Treatment, includes open cholecystectomy, laparoscopic cholecystectomy, medications, and others. Laparoscopic cholecystectomy segment dominated the global Gallstone market in 2022. In order to do a laparoscopic cholecystectomy, a small video camera must be inserted through a small abdominal incision. This procedure normally takes one to two hours. Recently, laparoscopic surgery has gained popularity due to its advantages, which include a quicker recovery time, less blood loss, and less patient morbidity. Additional advantages include a small or no incision, a quick recovery, quick and effective outcomes, a low risk of infection, and less discomfort. The market for cholecystectomy equipment is expected to expand over the course of the projected period due to the increased demand for laparoscopic cholecystectomy surgery. Additionally, open cholecystectomy is a common surgery used when laparoscopic cholecystectomy procedures cannot be carried out safely. Important factors, such as recent technology advancements, an increase in demand for less invasive procedures, longer postoperative hospital admissions, severe bleeding, and common bile duct injuries, have contributed to the segment's slower growth rate and reduced market share.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Gallstone Market dominated this market in 2022 (45.80%). One of the main elements supporting the region's growth is the growing preference for laparoscopic cholecystectomy treatments over open cholecystectomy operations. The market is also impacted by the competition for product innovation among well-known companies. Laparoscopy is now preferred by surgeons over traditional procedures because it encourages rapid healing and better results. The market may also experience an infusion of both new and existing rivals as a result of the United States' rising healthcare costs. Further, In the North American area, the U.S. Gallstone market had the biggest market share, while the Canada Gallstone market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Gallstone market accounted for the healthy market share in 2022. It is anticipated that expanding medical tourism, better reimbursement conditions, and technological advancements will boost this industry. Other motivating factors include readily available equipment, an increase in M&A activity, and government initiatives to improve healthcare services. Further, In the European region, the German Gallstone market had the biggest market share, and the U.K. Gallstone market had the quickest rate of growth.
The Asia Pacific Gallstone market is expected to register significant growth from 2023 to 2032. This is brought on by an increase in contemporary, well-equipped hospitals and a sizable increase in cholecystectomy procedures. Gallstone problems are, generally speaking, less prevalent in underdeveloped countries. India and Taiwan have a higher prevalence of acute cholecystitis than other developing countries. Moreover, In the Asia-Pacific region, the Indian Gallstone market had the quickest rate of growth while China's Gallstone market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Gallstone market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Gallstone sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Gallstone industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Gallstone sector. Major players in the Gallstone market, including Sklar Surgical Instruments, Fortimedix Surgical, Intuitive Surgical Inc., Levita Magnetics, Olympus, Medtronic plc, NovaTract Surgical, LLC, and Simulab Corporation, are attempting to increase market demand by investing in research and development operations.
Levita Magnetics' magnetic surgical tool enables single- and reduced-port procedures through the use of traumatic, shaftless, and magnetic retraction. The company's technology eliminates the need for a dedicated trocar and shafted equipment that could obstruct the operating field during a reduced port laparoscopic cholecystectomy surgery, allowing patients to minimize surgical trauma while maximizing cosmetic results. Levita Magnetics reported the conclusion of the first magnetic scarless robotic gallbladder surgery in December 2016 using the FDA-approved LevitaTM Magnetic Surgical System. A magnetic-robotic procedure makes less invasive surgery possible and promises better patient outcomes with less pain, scarring, and recovery time.
· Sklar Surgical Instruments
· Fortimedix Surgical
· Intuitive Surgical Inc.
· Levita Magnetics
· Olympus
· Medtronic plc
· NovaTract Surgical, LLC
· Simulab Corporation
April 2022: An NCBI article estimates that gallstone disease affects about 20 million Americans. The annual number of cholecystectomy surgeries among them is close to 300,000. Only 10% of gallstones are asymptomatic, compared to 20% who exhibit symptoms.
· Cholesterol Stones
· Bilirubin
· Concentrated Bile
· Others
· Ultrasound
· Abdominal CT Scan
· Gallbladder Radionuclide Scan
· Blood Tests
· Others
· Open Cholecystectomy
· Laparoscopic Cholecystectomy
· Medications
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.6 Billion |
|
Market Size 2023 |
USD 0.73 Billion |
|
Market Size 2032 |
USD 0.77 Billion |
|
Compound Annual Growth Rate (CAGR) |
9.50% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Cause, Diagnosis, Treatment, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Sklar Surgical Instruments, Fortimedix Surgical, Intuitive Surgical Inc., Levita Magnetics, Olympus, Medtronic plc, NovaTract Surgical, LLC, and Simulab Corporation |
|
Key Market Opportunities |
Increasing R&D activities |
|
Key Market Dynamics |
The increasing prevalence of gallstone disease, the rising geriatric population, increasing preference for elective laparoscopic surgeries, and growing awareness of early disease diagnosis |
The global Gallstone market size was valued at USD 0.6 Billion in 2022.
The global market is projected to grow at a CAGR of 9.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Sklar Surgical Instruments, Fortimedix Surgical, Intuitive Surgical Inc., Levita Magnetics, Olympus, Medtronic plc, NovaTract Surgical, LLC, and Simulab Corporation
The Cholesterol Stones Cause dominated the market in 2022.
The Ultrasound Diagnosis had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65307
Published on :
Sep 2023
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