16 October 2019
Visiongain has launched a new pharma report ‘’Nephrology and Urology Devices Market Report 2020-2030’’ by Type (Dialysis, Urinary Stone, Urinary Incontinence & Pelvic Organ Prolapse, Benign Prostatic Hyperplasia), End Users (Ambulatory Surgical Centers (ASC), Home, Hospitals and Clinics, Other End Users), and Geography.
Global nephrology and urology devices market is anticipated to grow on account of the growing prevalence of kidney failure & end-stage renal illnesses. The global nephrology and urology devices market is anticipated to grow at a lucrative CAGR of 7.4% and anticipated to surpass USD 39 Billion by 2030.
Nephrology is a field of medicine that is concerned with studying kidney function, treating kidney issues, and therapy for renal substitute. In the therapy of urinary structures such as chronic kidney disease, urinary incontinence, kidney stone, and end-stage renal illness, nephrology and urology devices are used. Technological advancement has considerably improved the acceptance of innovative nephrology and urology devices.
The growing prevalence of kidney failure & end-stage renal illnesses increased healthcare spending in developed nations, and technological developments are anticipated to boost market development over the forecast period. Also, projects conducted by numerous governmental organizations to raise awareness among the geriatric population base which is extremely susceptible to these illnesses is anticipated to fuel the nephrology and urology devices market.
Also, according to the World Health Organization (WHO), more than 190 million people suffer from chronic renal failure and kidney dialysis, and more than 220 million men suffer from illnesses connected with prostate glands such as swelling that block urine flow. This increasing incidences of kidney and urological illnesses have changed physicians' tendency to use extremely sophisticated nephrology and urological devices that considerably decrease treatment and recovery time.
Europe holds the majority of market share followed by North America and will continue to dominate in the future as a result of the presence of key market players executing extensive growth strategies. Asia Pacific region is anticipated to experience the highest growth in terms of CAGR over the forecast period owing to growing R&D, as well as a growing awareness in the emerging economies, such as Japan, China, and India. Also, the growing popularity of medical tourism is anticipated to significantly enhance the market with lucrative growth opportunities.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products to strengthen their position in the global nephrology and urology devices market. Companies are also increasing their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the market.
For instance, on 26th February 2019; Fresenius Medical Care announced the acquisition of NxStage Medical, Inc. (NxStage), after authorization by antitrust officials in the United States. NxStage manufactures and produces innovative medical devices for use in critical care and home dialysis.
The comprehensive market report features companies such as Asahi Kasei Corporation, B. Braun Melsungen, Baxter International Inc., Boston Scientific, C. R. Bard, Inc., Coloplast, Cook Medical, Dornier MedTech, First Quality Enterprises, Inc., Fresenius Medical Care, Kimberly-Clark Corporation, Medline Industries, Inc., Nikkiso Co. Ltd., Medtronic, Nipro Corporation, NxStage Medical, Inc., Olympus Medical Systems, ONTEX International N.V., Rockwell Medical Technologies Inc., STORZ Medical AG, Teleflex Incorporated, Siemens Healthineers, Svenska Cellulosa Aktiebolaget (SCA), and Terumo Corporation among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020–2030 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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