Nephrology And Urology Devices Market Growth & Trends
The global nephrology and urology devices market size is anticipated to reach USD 7.21 billion by 2028 registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc. Unhealthy lifestyle and rise in smoking & alcohol consumption along with dietary irregularities are some of the factors resulting in urological and nephrological disorders. This is anticipated to increase the demand for devices to treat these disorders.
Increasing cases of Chronic Kidney Disease (CKD) are expected to boost the market growth. According to the National Kidney Foundation 2019, it is estimated that there are more than 2 million cases of CKD across the globe and this number continues to grow at a rate of 5-7% per year. Moreover, the growing adoption of minimally invasive procedures is expected to drive market growth.
Numerous non-invasive techniques have been introduced in the market, such as condom catheter, Doppler ultrasound video urodynamic, Intravesical Prostatic Protrusion (IPP), and penile cuff, which helps avoid painful catheterization. Technological advancements play a crucial role in driving market growth. For instance, certain companies introduced antimicrobial catheters to reduce catheter-associated infections and cases of thrombosis. Palindrome HSI heparin-coated & silver ion antimicrobial catheter by Medtronic PLC helps reduce clot formation and microbial colonization on the catheter surface.
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Nephrology And Urology Devices Market Report Highlights
- On the basis of product, the others segment dominated the market in 2020 with the share of 28.49%
- This growth can be attributed to the high prevalence of urological & nephrological disorders globally and the launch of technologically advanced products by the key players in this segment
- However, the Percutaneous Nephrostomy (PCN) catheters segment is expected to register the fastest CAGR of 7.6% from 2021 to 2028 due to the increasing application scope of PCN in various kidney-related medical conditions
- North America dominated the market with the highest revenue share of 33.20% in 2020 and will retain the leading position throughout the forecast period
- The presence of prominent players, advanced healthcare infrastructure, and high public funding in the healthcare system are some of the factors responsible for the region’s growth
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Nephrology And Urology Devices Market Segmentation
Grand View Research has segmented the global nephrology and urology devices market on the basis of product and region:
Nephrology & Urology Devices Product Outlook (Revenue, USD Million, 2016 - 2028)
- Ureteral Catheters
- PCN Catheters
- Urinary Stents
- Stone Basket
- Urology Guidewires
- Renal Dilators
Nephrology & Urology Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
List of Key Players of Nephrology And Urology Devices Market
- Medtronic plc
- Fresenius Medical Care AG & Co. KGaA
- Baxter International, Inc.
- Boston Scientific Corp.
- R. Bard, Inc.
- Cook Group, Inc.
- Hollister, Inc.
- Nipro Corp.
- Terumo Corp.
- Coloplast A/S
- ConvaTec Group plc
- Braun AG
- Teleflex, Inc.
- Asahi Kasei Corp.
- Nxstage Medical, Inc.
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.