PUBLISHER: The Business Research Company | PRODUCT CODE: 1387615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387615
“Nephrology And Urology Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nephrology and urology devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nephrology and urology devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The nephrology and urology devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Nephrology and urology devices play a crucial role in the diagnosis and treatment of kidney and genitourinary diseases.
The primary categories of nephrology and urology devices encompass dialysis devices and equipment, urinary stone treatment devices and equipment, urinary incontinence and pelvic organ prolapse devices and equipment, benign prostatic hyperplasia (BPH) treatment devices and equipment, as well as endoscopy devices and equipment. Dialysis devices and equipment are instrumental in the dialysis process, functioning as artificial kidneys to filter a patient's blood, eliminating excess water and waste products when kidney function is impaired. Expenditure for these devices can be both public and private. These devices and equipment utilize instruments/equipment and disposables, serving a wide range of end-users including hospitals and clinics, diagnostic laboratories, and others.
The nephrology and urology devices market research report is one of a series of new reports from The Business Research Company that provides nephrology and urology devices market statistics, including nephrology and urology devices industry global market size, regional shares, competitors with a nephrology and urology devices market share, detailed nephrology and urology devices market segments, market trends and opportunities, and any further data you may need to thrive in the nephrology and urology devices industry. This nephrology and urology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nephrology and urology devices market size has grown strongly in recent years. It will grow from $18.3 billion in 2023 to $19.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historic period can be attributed to several key factors, including an aging population, a high prevalence of urological disorders, the need for effective management of chronic kidney disease (CKD), and developments in healthcare reimbursement. These factors collectively contributed to the expansion of the nephrology and urology devices market during that period.
The nephrology and urology devices market size is expected to see strong growth in the next few years. It will grow to $24.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. Anticipated growth in the forecast period can be attributed to various factors, including the increasing adoption of telemedicine and remote consultations, the rise of personalized medicine approaches, the shift towards value-based care models, the expanding healthcare markets in emerging regions, and the integration of artificial intelligence (AI) in the field of nephrology and urology devices. Additionally, several noteworthy trends are expected to shape the industry during this forecast period, such as the increasing use of minimally invasive procedures, the utilization of remote monitoring and telehealth services, the development of 3D printing techniques for urological implants, the introduction of smart catheters and drainage devices, and the growing popularity of home dialysis solutions.
The increasing prevalence of kidney and urinary tract diseases is set to drive the growth of the nephrology and urology devices market in the future. These health issues affect various components of the urinary system, including the kidneys, ureters, bladder, and urethra. Medical devices in the field of nephrology and urology play a crucial role in addressing conditions like chronic kidney disease (CKD) and end-stage renal disease (ESRD). For example, in June 2023, Kidney Research UK reported that over 7.19 million people in the UK were affected by chronic kidney disease, which accounts for more than 10% of the UK's population. The number is projected to increase to 7.61 million people by 2033. Consequently, the rising incidence of kidney and urinary tract diseases is expected to be a significant driver of growth in the nephrology and urology devices market.
The increase in the patient population, driven by the growing global elderly demographic, has significantly contributed to the historical growth of the nephrology and urology devices market. The World Health Organization reports that the number of individuals aged 60 and older reached 1 billion in 2020, a figure projected to rise to 1.4 billion by 2030 and reach 2.1 billion by 2050. This aging population has led to greater demand for medical care, resulting in increased healthcare expenditure and a heightened need for nephrology and urology devices. These factors substantially boosted the market during the historical period.
The nephrology and urology devices market faced limitations in terms of a shortage of skilled professionals in both developed and developing nations during the historical period. The manufacturing and integration of these medical devices require specialized expertise encompassing life sciences, electronics, pharmaceuticals, and software. Such expertise is concentrated in a limited number of organizations, primarily situated in the USA and Europe. The shortage of skilled labor emerged as a significant impediment to market growth during the historical period.
Major companies operating in the nephrology and urology devices market are actively engaging in partnerships to establish collaborative relationships between multiple organizations. Strategic partnerships involve cooperative agreements aimed at achieving mutually beneficial objectives. These collaborations often entail resource sharing, expertise exchange, and technology utilization to drive innovation, expansion, or growth. For example, in December 2021, GlaxoSmithKline plc partnered with the University of Oxford to create the Oxford-GSK Institute of Molecular and Computational Medicine, fostering a five-year collaboration. In another instance, LiNA Medical partnered with UroCure LLC in September 2021 to develop surgical solutions for female stress urinary incontinence. This collaboration leverages LiNA Medical's distribution capabilities and UroCure's expertise in sling technology to create a comprehensive range of surgical solutions for this condition.
Major companies in the nephrology and urology markets are actively investing in research and development of advanced technologies to expand their product portfolios and enhance their market share. One such advancement is the development of ambulatory peritoneal dialysis machines, which provide patients with the flexibility to perform dialysis at home or while on the move. This innovation offers convenience and mobility to patients in managing their condition. In June 2023, LiberDi Ltd., an Israeli medical device company, gained FDA approval for a continuous ambulatory peritoneal dialysis machine. This system is designed to offer patients ease of use, mobility, automatic catheter connection flush technology, and continuous monitoring, allowing them to conveniently carry out their daily dialysis routines at home or in various settings.
Major companies operating 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. Bard Inc., Boston Scientific Corporation, Coloplast Private Limited, Convatec Group PLC, Hollister Incorporated, Teleflex Incorporated, J and M Urinary Catheters LLC, NxStage Medical Inc., Olympus Corporation, Stryker Corporation, Karl Storz Se & Co. KG, Richard Wolf GmbH, Becton, Dickinson and Company, Terumo Corporation, Uromed Kurt Drews KG, Urocare Products Inc., Urotech GmbH, Wellspect Healthcare AB, Medtronic PLC, Dornier MedTech GmbH, Nikkiso Co. Ltd., Siemens Healthineers AG, Nipro Corporation, Urologix LLC, Johnson & Johnson, Abbott Laboratories.
North America was the largest region in the global nephrology and urology devices market in 2023. Asia-Pacific was the second largest region in the global nephrology and urology devices market. The regions covered in the nephrology and urology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the nephrology and urology devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The nephrology and urology devices market consist of sales of instruments such as ureteral catheters, PCN catheters, urinary stents, stone baskets, urology guidewires, and renal dilators that are used to treat kidney and genitourinary diseases. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.