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Emerging Trends: Expanding Product Portfolios in the Nephrology and Urology Market || Baxter International Inc., Fresenius Medical Care AG & Co KGaA, Cook Group Incorporated
Nephrology And Urology Devices Market
The Business Research Company's Nephrology And Urology Devices Global Market Report 2023 the increase in the patient pool due to the rising geriatric population globally as the major driver for the nephrology and urology devices market's growth in the forecast period. According to the World Health Organization, the number of people aged 60 years and above was 1 billion in 2020 and the number will rise to 1.4 billion by 2030 and it will reach 2.1 billion by 2050. This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. These factors increased the demand for these products and drove the market during the historic period.
The global nephrology and urology devices market grew from $17.37 billion in 2022 to $18.63 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nephrology and urology devices market is expected to grow to $23.52 billion in 2027 at a CAGR of 6.0%.
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Major competitors in the nephrology and urology devices market include Baxter International Inc., Fresenius Medical Care AG & Co KGaA, Cook Group Incorporated, B. Braun Group, C. R. and Bard Inc.
A key trend in the nephrology and urology devices market includes rise in new product launches. Due to the high competition in the market, many companies are investing in advanced technologies to widen product portfolios and increase their share in the market. For instance, in March 2020, Medi-Tate an Israel-based medical device company received authorization for iTind system that is used to implant and remove nitinol devices during bladder neck remodelling. Researchers at Washington University in St. Louis, the University of Illinois at Urbana-Champaign, and Northwestern University together developed a wireless implant to control overactive bladder using LED lights.
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The nephrology and urology devices market is segmented -
• By Type: Dialysis Devices And Equipment, Urinary Stone Treatment Devices And Equipment, Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment, Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment, Endoscopy Devices And Equipment
• By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
• By Type of Expenditure: Public, Private
• By Product: Instruments/Equipment, Disposables
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the global nephrology and urology devices market
The Business Research Company's "Global Nephrology And Urology Devices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Nephrology And Urology Devices Market Include:
1. Executive Summary
2. Nephrology And Urology Devices Market Characteristics
3. Nephrology And Urology Devices Market Trends And Strategies
4. Nephrology And Urology Devices Market - Macro Economic Scenario
5. Nephrology And Urology Devices Market Size And Growth
……………
27. Nephrology And Urology Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nephrology And Urology Devices Market
29. Nephrology And Urology Devices Market Future Outlook And Potential Analysis
30. Appendix
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