Nephrology and Urology Devices Market Global Key Trends & Forecast 2018
Other notable players in the global market for nephrology and urology devices are Nipro and Nikkiso. The sacral neuromodulation segment is currently led by Medtronic, which is predicted to be the only company in the field.
The global market for nephrology and urology devices is estimated to reach a valuation of US$20.5 bn by 2018, rising at a healthy CAGR during the forecast period of 2012 to 2018.
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Dialysis Equipment Remains in Demand
Dialysis equipment has emerged as the most prominent segment in the global market for nephrology and urology devices, followed by devices treating kidney and bladder stones. The dialysis equipment market comprises dialyzers required for filtration. The report observes that the trend is shifting from the use of reusable dialyzers to disposable ones. This has been advised and accepted in order to decrease the rate of infection arising from reusable dialyzers and the increasing incidence of blood-related diseases. The incontinence and prolapse devices segment is also likely to exhibit a healthy growth rate.
Geographically, Europe was estimated to be the most significant market in the nephrology and urology devices market, followed by North America. Europe led the key markets of dialysis and sacral neurostimulation. North America is expected to expand its sacral neurostimulation market in coming years and nibble into the share of Europe. Asia Pacific is expected to be remain in the third place, followed by Rest of the World.
Swelling Diabetic Population Driving Demand
According to current statistics by the National Health and Nutrition Examination Survey (NHANES) and National Kidney Foundation, more than 26 million Americans have chronic kidney diseases (CKD) and about 20 million are living with hypertension or diabetes. Incidences of CKD in other region such as Asia Pacific, Europe, and the Middle East are also rising quickly with increasing geriatric population, consequently driving the global market for nephrology and urology devices. Other factors that will favor the expansion of this market are: the growing popularity of minimally invasive and non-invasive treatment procedures, the rising market for advanced lithotripters in developed regions, innovation and new product development to improve the efficacy of urology disease treatment process, and favorable healthcare policies, especially in developed countries.
Conversely, factors that may hinder the growth rate of the global market for nephrology and urology devices include: high installation prices of lithotripters devices and advanced machines, the slow growth in healthcare spending in developed markets, and the lack of awareness about advanced technologies in emerging markets.
According to the author of the report, “Traditionally price-sensitive markets in the regions of Asia Pacific and the Middle East are providing new opportunities with many healthcare providers adopting advanced technologies that can satisfy the needs of a growing patient base and also fit into their budget. Government initiatives towards improving healthcare infrastructure in these regions is also aiding the expansion of the nephrology and urology devices market.”
The information presented in this review is based on a Transparency Market Research report, titled, “Nephrology and Urology Devices Market (Dialysis Equipment, Lithotripsy, Ureteral and Prostatic Stents, Urethral Inserts, Pessaries, Pelvic Organ Prolapse, Benign Prostatic Hyperplasia) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012–2018.”
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