Nephrology Devices Market to growing at CAGR of 4.0% by 2026, Top Prominent Players: Baxter International, C.R.Bard, Fresenius Medical Care, Nikkiso Co. Ltd, Dornier Medtech
Nephrological disorders such as renal dysfunction, interstitial nephritis, chronic kidney disease, and others cause abnormal kidney functions, which can be fatal. Therefore, nephrological devices such as dialysis instrument and lithotripter are widely adopted for the efficient treatment of these disorders. Furthermore, these devices perform various functions in the treatment of nephrological disorders. For instance, devices such as dialysis instruments are used to filter solutes, toxins, and water out of blood in patients with kidney failure.
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Surge in geriatric population and increase in prevalence of chronic kidney diseases across the globe are the major factors that significantly contribute toward the growth of the nephrological devices market. Furthermore, innovation in nephrology devices and rise in healthcare expenditure fuel the growth of the market. However, high cost of these devices limit the growth of the global Nephrology Devices Market. Conversely, rise in awareness about benefits associated with nephrology devices such as reduced treatment and recovery time among renal disease patients is expected to offer lucrative opportunities during the forecast period.
The global nephrology devices market is segmented on the basis of device type and region to provide a detailed assessment of the market. Depending on device type, the market is segregated into dialysis instrument, lithotripter, dialysis catheters, and others. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
According to device type, the dialysis instrument segment occupied the major share of the nephrology devices market, and is anticipated to register highest growth rate during the forecast period. This is attributed to rise in demand for these machines in developing countries such as India as there is an increase in the number of patients who require hemodialysis. Therefore, there has been an increase in the purchase of hemodialysis machines, thereby contributing toward the growth of this segment. For instance, in July 2017, the State Government of Telangana in India provided 268 single-use hemodialysis machines in 39 hospitals. Therefore, this helped in the improvement of services provided by the hospitals to the hemodialysis patients. The other factors that contribute toward the growth of this market include rise in awareness related to the use of nephrology devices in the treatment of renal disorders. Furthermore, surge in prevalence of chronic kidney disease (CKD) also contributes to the growth of this market. For instance, according to an estimate by National Kidney Foundation, Inc., 37 million American adults are estimated to have CKD.
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In 2018, North America accounted for the major share of the Nephrology Devices Market, and is expected to remain dominant due to easy availability of nephrology devices. Moreover, surge in geriatric population which is more susceptible to nephrological disorders is another key factor that boosts the growth of the market in North America. However, Asia-Pacific is expected to register fastest growth during the forecast period, owing to surge in awareness related to the use of nephrology devices.
Developing economies offer lucrative opportunities for the nephrology devices providers to expand their business. The constantly evolving life science industry further propels the growth of the market in India, China, and others.
The Major Key Players Are:
o Baxter International
o Fresenius Medical Care
o Nikkiso Co. Ltd
o Dornier Medtech
o Asahi Kasei Corporation
o Nipro Corporation
o Cantel Medical Corporation
o B. Braun Melsungen AG.
Key Findings of the Study:
o Dialysis catheters occupied XX share of the global nephrology devices market in 2018.
o The dialysis instrument segment is anticipated to grow with the highest CAGR throughout the forecast period.
o The lithotripter segment accounted for more than XX share of the Nephrology Devices Market in 2018.
o Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
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