The global nephrology and urology devices market was valued at USD 16.8 billion in 2015. The growing prevalence of chronic kidney diseases is a high-impact rendering growth driver of the market. The subsequent increase in the prevalence is attributed to unprecedented shift in lifestyle globally, which includes smoking, high caffeine, & alcohol intake, and eating disorders. In addition, geriatric population base and patients suffering from diabetes, hypertension, and obesity have higher susceptibility to development of chronic kidney and urinary disorders, which is presumed to widen the base for growth in the future.
The minimally invasive nature of these devices is expected to drive the market throughout the forecast period. In addition, increase in number of patients in the high-risk category for conventional open surgeries and compromised health with slow recovery rates, due to the reasons mentioned above, is also adding to the growth.
Benefits associated with these devices include faster recovery, minimum hospital stay, and minimal pain & trauma to the patient. The surgeries performed in conjunction with these devices have a higher success rate as compared to conventional forms of surgery, which are expected to widen the scope for the growth of the nephrology and urology devices throughout the forecast period.
Advent of technological modifications in these devices is anticipated to present the market with lucrative growth opportunities. These include modification in the membrane used in hemodialysis, in order to enhance extracorporeal waste removal, such as inflammatory mediators, creatinine, excess water and urea.
Other technological advancements include modification in the equipment design, inclusion of immunosuppressant, human nephron filter, silicon nano pore membranes and nano electronics. Consequentially, the aforementioned advantages are believed to facilitate efficient treatment of kidney failure, thus improving quality of life, outcomes and life expectancy of renal replacement therapy patients.
Dialysis nephrology and urology devices held a dominant share under the type segment in 2015. Wide range of availability of these products, frequent product launches, and increasing cases of renal failure are presumed to be the main factors responsible for capturing of a substantial share of the market. In addition, the high adoption rate of dialysis in developed as well as emerging economies is presumed to be responsible for the heightened growth of this segment in 2015.
In 2015, Europe captured a significant share of over 40.0% of the regional nephrology and urology devices sector. The growth across this region is primarily driven by presence of prominent market players implementing extensive expansion strategies. In addition, huge research and development (R&D) investments undertaken by prominent and new market entrants are also anticipated to be potential growth factors responsible for the sizeable share garnered by Europe. Furthermore, increasing inclination of patients toward clinics and hospitals with advanced technologies is anticipated to widen the base for growth.
The Asia Pacific market is expected to exhibit the fastest CAGR of over 7.0% throughout the forecast period, which can be attributable to the increasing healthcare expenditure, growing awareness pertaining to kidney & urinary tract disorders, as well as the improving healthcare infrastructure. Furthermore, growth is due to the high intensity of R&D as well as the growing awareness in the emerging economies, such as China and India. In addition, growing popularity of medical tourism is also anticipated to present the market with lucrative growth opportunities.
The growth is marked by prominent industry players undertaking strategies, such as geographical expansions, mergers & acquisitions, and new products development. In August 2015, Boston Scientific acquired American Medical Systems, LLC’s urology portfolio. This acquisition was undertaken to expand the urology product portfolio of the company as well as to acquire a leadership position amongst the competitors. Also, in May 2016, Fresenius Medical Care launched 6008 CARE system, hemodialysis therapy system, designed for the treatment of end-stage renal disease. This product launch was carried out to provide advanced dialysis products and improve patient outcomes & compliance.
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