The global nephrology and urology devices market is expected to reach USD 31.3 billion by 2024, according to a new study by Grand View Research, Inc. The market is driven by technological advancements that are anticipated to serve the market with future growth opportunities. These advancements include inclusion of stem cells, wearable artificial kidneys, combined use of ion-sensitive sensors & electrodes, living membranes, shockwave, and laser lithotripsy.
These technologies serve as efficient methods of renal care, which are capable of improving overall patient health and quality of life. In addition, improved uremic toxin and fluid removal, relatively less hypotension episodes, better control of blood pressure, overall improvement in mineral metabolism, better survival rate, and reduction in hospitalization rates & costs. In addition, these advancements also have a substantial impact on patient’s quality of life through increased volume of dialysate, ultrafiltration capacity, and higher solute clearance.
The unprecedented adoption of unhealthy lifestyle has exerted a major impact on the market, leading to high prevalence of chronic diseases, such as cancer and diabetes, which serve as a contributing factor toward developing kidney and urinary diseases. Moreover, the widening of geriatric population base, which is highly susceptible to developing the aforementioned chronic diseases is expected to impel the demand for highly efficient devices.
Furthermore, increasing geographical presence of major market players is expected to raise the levels of awareness pertaining to advanced technologies available for treatment in emerging economies, thus impelling the market growth throughout the forecast period. In addition, increasing participation in research studies to further improve these devices is expected to propel high scale growth for this market during the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/nephrology-urology-devices-market
Further Key Findings from the Study Suggest:
·
The dialysis devices in the product segment held
a dominant share in 2015. This is a consequence of the high clinical urgency to
curb the unprecedented growth in renal failure globally. Moreover, easy
availability and presence of a wide-scale portfolio in the global market is
facilitating a higher penetration of dialysis devices, thus resulting in a
higher share
·
In 2015, Europe dominated the overall nephrology
and urology devices market with a share of over 40.0%. The increasing number of
product approvals by healthcare organizations and presence of large patient
volume requiring dialysis across this region are anticipated to be a
contributing factor toward substantial share
·
Asia Pacific is anticipated to witness at a
lucrative CAGR of over 7.0% during the forecast period. This can be attributed
to rising per capita healthcare spending and increasing availability of
minimally invasive devices & awareness pertaining to the, amongst patient
base present across the region
·
The dominant players are indulging into
collaborative strategies and new product development in order to capture a
larger share of the market. The increasing number of mergers & acquisitions
are believed to strengthen the competitive scenario of nephrology and urology
market
·
For instance, in September 2013, Baxter
International, Inc. acquired Gambro AB, a dialysis products manufacturer, to
facilitate expansion and enhancement of renal therapy product portfolio, in
order to gain a competitive advantage over other players
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the nephrology and urology devices market on the basis of product and region:
Global Nephrology and Urology Devices Product Outlook (Revenue, USD Billion, 2013 - 2024)
·
Dialysis
·
Urinary Stone
o
Ureteral stents
o
Lithotripters
·
Urinary Incontinence & Pelvic Organ
Prolapsed
o
Sacral neuromodulation
o
Vaginal meshes & slings
o
Ureteral inserts & pessaries
·
Benign Prostatic Hyperplasia
o
Catheter ablation
o
Prostatic stents
·
Endoscopy
·
Others
Nephrology and Urology Devices Regional Outlook (Revenue, USD
Billion, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-nephrology-urology-devices-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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