Nephrology and urology devices find applications in the treatment of kidney and urinary systems for problems related to kidney stone, chronic kidney disease, urinary incontinence, benign prostatic hyperplasia, and pelvic organs prolapse. There are different types of treatment available for urology disease and physicians will suggest the treatment on the basis on health condition of the patient as well as the stage of disease.
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.
𝗖𝗵𝗿𝗶𝘀𝘁𝗺𝗮𝘀 𝗦𝗮𝗹𝗲 𝗜𝘀 𝗟𝗶𝘃𝗲!
𝗕𝘂𝘆 𝗡𝗼𝘄 𝗧𝗼 𝗔𝘃𝗮𝗶𝗹 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗙𝗿𝗼𝗺 𝟮𝟱-𝟯𝟬% 𝘁𝗶𝗹𝗹 𝟯𝟭-𝗗𝗲𝗰-𝟮𝟬𝟮𝟭
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Growing prevalence of chronic kidney diseases is expected to drive growth of the global nephrology and urology devices market during the forecast period. According to the study, ‘Risk Factors and Rate of Progression of CKD in Children’, published in June 2019 in Kidney International Reports, 38% children experienced progression of chronic kidney disease within 2 years of follow-up.
Moreover, increasing preference for minimally invasive and non-invasive treatment procedures is expected to propel the global nephrology and urology devices market growth over the forecast period. Minimally invasive surgeries are widely preferred for various urology diseases such as urinary stone, benign prostatic hyperplasia, and incontinence, since it significantly reduces the treatment cost as compared to conventional methods. Furthermore, availability of advanced treatment methods such as extracorporeal shock wave lithotripsy (ESWL) and laser stone surgery increases treatment for urinary stone treatment have enhanced efficiency and reduced hospitalization stay, thereby reducing the financial burden.
Dialysis Devices held dominant position in the global nephrology and urology devices market in 2019, accounting for 71.3% share in terms of value.
High installation prices of device for lithotripters and advanced devices are expected to restrain growth of the global nephrology and urology devices market during the forecast period. Advanced technology devices such as ESWL, dialysis machines, and endoscopy devices are not affordable for small and many midsized healthcare providers. Lithotripter machines integrated with localization systems and lithotripsy table cost US$ 380,000 to US$ 450,000 in Europe. Installation of low budget lithotripsy machine costs at an average US$ 250,000, whereas in India, installation of lithotripters machines cost at an average US$ 350,000.
Furthermore, frequent product recalls are expected to hamper the global nephrology and urology devices market growth over the forecast period. For instance, in May 2020, The U.S. Food and Drug Administration designated Applied Medical’s recall of three latex balloon catheters as a class 1 recall, the most serious kind, which will affect 19,400 catheters (Python embolectomy catheters, Bard embolectomy catheters, OTW Latis cleaning catheters).
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Continuous research and development activities can present lucrative growth opportunities in the market. For instance, in August 2019, researchers at the Mayo Clinic reported development of a legitimate penile traction therapy (PTT) device for men with Peyronie’s disease that may work when used for just 30 to 90 minutes daily. Furthermore, growing geriatric population can provide significant business opportunities for marketers. According to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
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.
Key players in the market are focused on launching digital solutions during the COVID-19. For instance, in July 2020, Baxter International expanded its partnership with Ayogo Health Inc. to combine the latter’s LifePlan behavior-based digital platform with Baxter’s renal care expertise to build mobile apps and digital solutions to support kidney failure patients.
Rising proactive government initiatives to boost research and development activities in urology devices is expected to boost the market growth in the near future. For instance, in July 2020, the U.S. Department of Health and Human Services (HHS) and the American Society of Nephrology (ASN) announced the six winners of the US$ 3 million KidneyX: Redesign Dialysis Phase 2 competition during the virtual KidneyX Summit.
Key companies involved in the global nephrology and urology devices market are 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.
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 August 2020, Medtronic plc, received the U.S. FDA approval for its InterStim Micro neurostimulator and InterStim SureScan MRI leads for the treatment of patients with bladder and bowl control conditions.
Major players in the market are also focused on launching various solutions to enhance their market share. For instance, in August 2020, Dornier MedTech, a developer of non-invasive Extracorporeal Shockwave Lithotripsy (ESWL) technology, launched UroX, a community that connects professionals from various disciplines to cultivate innovation and solve the most pressing challenges in urology.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Nephrology and Urology Devices Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Nephrology and Urology Devices Industry Impact
Chapter 2 Global Nephrology and Urology Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Nephrology and Urology Devices (Volume and Value) by Type
2.3 Global Nephrology and Urology Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Nephrology and Urology Devices Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Nephrology and Urology Devices Market Analysis
Chapter 6 East Asia Nephrology and Urology Devices Market Analysis
Chapter 7 Europe Nephrology and Urology Devices Market Analysis
Chapter 8 South Asia Nephrology and Urology Devices Market Analysis
Chapter 9 Southeast Asia Nephrology and Urology Devices Market Analysis
Chapter 10 Middle East Nephrology and Urology Devices Market Analysis
Chapter 11 Africa Nephrology and Urology Devices Market Analysis
Chapter 12 Oceania Nephrology and Urology Devices Market Analysis
Chapter 13 South America Nephrology and Urology Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Nephrology and Urology Devices Business
Chapter 15 Global Nephrology and Urology Devices Market Forecast (2021-2027)
Chapter 16 Conclusions
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