Nephrology & Urology Market Would Beat $31.3 Billion By 2024: Grand View Research, Inc.
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.
Browse full
research report on Nephrology & Urology Market: 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: 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
- Ureteral
stents
- Lithotripters
- Urinary
Incontinence & Pelvic Organ Prolapsed
- Sacral
neuromodulation
- Vaginal
meshes & slings
- Ureteral
inserts & pessaries
- Benign
Prostatic Hyperplasia
- Catheter
ablation
- Prostatic
stents
- Endoscopy
- Others
Nephrology
and Urology Devices Regional Outlook (Revenue, USD Billion, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
Access
Press Release By Grand View Research: 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, we
offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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