Press release
Nephrology Drugs Market Updates : Predicted to Grow at Exponential Rate During 2021-2030
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Increase in prevalence of kidney and urological disorders such as chronic kidney disease, urinary tract infections, kidney stones, & urologic cancers; surge in technological advancements; and rise in demand for minimally invasive medical procedures drive the growth of the global nephrology and urology devices market. However, the high cost of urology devices restricts market growth. Contrarily, growth prospects in emerging markets present new opportunities in the coming years.
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During recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This could affect patients' ability to access & afford nephrology and urology devices, potentially leading to decreased demand for diagnostics. In addition, economic downturns lead to reduced funding for medical research and development.
This could slow down the advancement of technologies and tools for nephrology and urology devices, potentially limiting the availability of more effective and less invasive diagnostic methods.
However, rise in the prevalence of urological and nephrological diseases, increase in technological advancements, and growth in awareness about early diagnosis & treatment could boost the need for these devices, leading to a positive impact from the global recession.
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Based on product, the consumables and accessories segment held the largest market share in 2022, accounting for more than three-fifths of the global nephrology and urology devices market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 4.5% from 2023 to 2032. This is attributed to rise in prevalence of chronic kidney diseases and growth in aging population, which led to surge in demand for urological devices such as consumables.
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Depending on application, the kidney diseases segment held the largest market share in 2022, accounting for more than half of the global nephrology and urology devices market and is estimated to maintain its leadership status throughout the forecast period. Increase in the number of people suffering from chronic kidney diseases has led to increase in the demand for urology and nephrology devices which propels the segment growth.
However, the urological cancer & BPH segment is projected to manifest the highest CAGR of 5.4% from 2023 to 2032. This is attributed to increase in awareness of urological cancers, advances in medical technology, and rise in aging population, bring more susceptible to urological conditions such as cancer and BPH.
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As per end user, the hospitals segment accounted for the largest share in 2022, contributing to nearly more than two-fifths of the global nephrology and urology devices market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to rise in technological advancements and innovations in nephrology and urology devices making it increasingly feasible to perform procedures in hospital settings.
However, the dialysis centers segment is projected to manifest the highest CAGR of 4.8% from 2023 to 2032. This is attributed to the dialysis centers offering specialized care & medical expertise in managing kidney-related conditions, as a result of which, patients prefer these centers for the convenience of receiving treatment from trained professionals in a clinical setting.
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According to region, North America held the largest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global nephrology and urology devices market revenue and is likely to dominate the market during the forecast period. This is attributed to the well-established healthcare system, rise in prevalence of urological diseases, technological advancement in devices, and rise in number of product approvals.
However, Asia-Pacific is expected to witness the highest CAGR of 4.9% from 2023 to 2032. Rise in awareness about early diagnosis & treatment, increase in prevalence of urological & kidney diseases, and development of healthcre industry are expected to drive the growth of the nephrology and urology devices market.
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B. Braun SE
Baxter International Inc.
Becton, Dickson and Company
Boston Scientific Corporation
Coloplast Ltd
Karl Storz GmbH & Co. KG
Medtronic plc
Olympus Corporation
Stryker Corporation
Teleflex Incorporated
The report provides a detailed analysis of these key players in the global nephrology and urology devices market. These players have adopted strategies such as product launch, product approval, acquisition, agreement, and partnership to increase their market share and maintain dominant position in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
ππ§π¨π° ππ¨π«π- https://www.alliedmarketresearch.com/nephrology-drugs-market-A13396
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