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Nephrology And Urology Devices Market Is Expected To Reach US$ 35,823.0 Million With Growing CAGR of 6.4% By 2027, Owing to Approval and Launch of New Devices

December 17th, 2020 Coherent Market Insights Releases

Nephrology and urology devices find application in the treatment of diseases such as chronic kidney disease, kidney stone, urinary incontinence, and end-stage renal disease. Increasing prevalence of chronic kidney disease is expected to lead to high adoption of nephrology and urology devices. For instance, according to the Global Burden Disease study conducted in 2015, chronic kidney disease was the 17th leading cause of death, globally. Moreover, in several developed countries, chronic kidney disease ranks as the 5th leading cause of death. According to the statistics released by National Kidney Foundation, kidney stones have become an epidemic in U.S. with a prevalence rate of 8.8%. According to the study conducted by Rajiv Gandhi University of Health Sciences, an estimated 5-7 million people suffer from kidney stone disease in India.

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Hemodialysis and peritoneal dialysis are used for dialysis of kidney in patients with kidney failure. Hemodialysis is the most commonly used method for kidney dialysis. Ablation therapies such as transurethral needal ablation (TUNA), holmium laser ablation of the prostate (HoLAP), and ultrasound/high intensity focused ultrasound (HIFU) are becoming increasingly popular in the treatment of benign prostatic hyperplasia due to the high cost and infectiveness of traditional drug and surgical therapies.

The global nephrology and urology devices market is estimated to account for US$ 23,192.8 Mn in terms of value in 2020 and is expected to reach US$ 35,823.0 Mn by the end of 2027.

Global Nephrology and Urology Devices Market: Drivers

Approval and launch of new devices is expected to propel growth of the global nephrology and urology devices market over the forecast period. For instance, in April 2020, Outset Medical received the U.S. Food and Drug Administration clearance for Tablo Hemodialysis System for patient use in the home.

Global Nephrology and Urology Devices Market: Opportunities

R&D in nephrology and urology is expected to offer lucrative growth opportunities for players in the global nephrology and urology devices market. For instance, in May 2019, researchers from Alliance Urology Specialists, Greensboro, North Carolina, found that eCoin, an investigational battery-powered overactive bladder device that is being developed by Valencia Technologies Corp., produces durable efficacy at 12 months in patients with refractory overactive bladder (OAB) syndrome with urgency urinary incontinence (UUI).

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Global Nephrology and Urology Devices Market: Restraints

Product recalls are expected to hinder growth of the global nephrology and urology devices market. For instance, in November 2019, Coloplast recalled nine total batches of its Biosoft Duo double loop ureteral stent kit and Vortek double loop ureteral stent kit due to a packaging anomaly.

Key Takeaways:

The global nephrology and urology devices market was valued at US$ 21,796.2 Mn in 2019 and is forecast to reach a value of US$ 35,823.0 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027. Major factor driving the growth of global nephrology and urology devices market during the forecast period include technological advancement, and product launches.

Dialysis Devices held dominant position in the global nephrology and urology devices market in 2019, accounting for 71.3% share in terms of value. Leading manufacturers such as Fresenius Medical Care AG & Co. KGaA are focusing on product launches as well as merger and acquisitions which is expected to support growth of the segment over the forecast period.

Market Trends

Approval and launch of new devices is expected to propel growth of the global nephrology and urology devices market over the forecast period. For instance, in April 2020, The U.S. FDA granted marketing authorization to Medtronic Inc. for a new device designed to provide continuous renal replacement therapy to pediatric patients with AKI or fluid overload, according to a press release from the agency.

Major players in the market are focused on launching new products to expand their product portfolio. For instance, in May 2019, Boston Scientific launched the AdVanceTM XP Male Sling System, a next-generation, minimally invasive solution for male stress urinary incontinence.

View Press Release For More Information @ https://www.coherentmarketinsights.com/press-release/nephrology-and-urology-devices-market-3392

Regulations

Major players operating in the global nephrology and urology devices market include Fresenius Medical Care, Baxter International Inc., Asahi Kasei Corp., BD, Cook Group Incorporated, Dornier MedTech, Nikkiso Co. Ltd., NxStage Medical Inc., Nipro Corporation, Terumo Corporation, B Braun Group, Medtronic Plc, Awak Technologies, and Rockwell Medical Technologies, Inc.

Global Nephrology and Urology Devices Market: Competitive Landscape   

Major players in the global nephrology and urology devices market are focused on approval and launch of new devices to expand their product portfolio. For instance, in June 2020, Laminate Medical received the U.S. FDA Breakthrough Device approval for VasQ External Support for the creation of arteriovenous fistulas (AVF) in hemodialysis patients.

Major players in the market are also focused on raising funds to expand their product portfolio. For instance, in December 2019, Awak Technologies raised US$ 40 million in an oversubscribed financing round as it readies its Awak PD (peritoneal dialysis) device.

Global Nephrology and Urology Devices Market: Key Developments

Segmentation

  • By Device Type
    • Dialysis Devices
      • Haemodialysis Equipment
      • Peritoneal Dialysis Equipment
    • Kidney Stone Devices
      • Shockwave Lithotripsy
      • Laser Lithotripsy
      • Stone Retrieval Basket
      • Ureteral Stents
    • UI & POP Devices
      • Sacral Neuromodulation
      • Mesh & Slings
      • Urethral Inserts & Pessaries
    • BPH Devices
      • Catheterization Ablation
      • Prostatic Stents
      • Other Devices
    • Endoscopy Devices
  • By End-User
    • Hospitals
    • Clinics
    • ASC’s
  • By Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East
    • Africa
About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
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