Nephrology And Urology Devices Market Size, Share & Trends Analysis Report 2021-2028

 Nephrology And Urology Devices Industry Overview

The global nephrology and urology devices market size was valued at USD 4.34 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2028. The high incidence and prevalence of Chronic Kidney Disease (CKD) coupled with rising elderly population is the major factor driving the market growth. According to the estimates of the National Kidney Foundation, 10.0% of the worldwide population is affected by CKD. Thus, the increasing target population is boosting the overall product demand. Rising incidences of diabetes and high blood pressure (hypertension) globally are also contributing to the growth of the market as these two diseases are primary reasons for kidney failure. As per the data published by the American Kidney Fund, 38.4% of kidney failures are caused due to diabetes, and 25% due to high blood pressure.

This high correlation between kidney failure and aforementioned disorders is expected to accentuate the demand for urology & nephrology devices. Moreover, the cases of diabetes and hypertension are increasing in developing countries of Asia Pacific (APAC) & Middle East and North Africa (MENA) regions, owing to changes in lifestyle and rising geriatric population. For instance, as per the International Diabetes Federation, in 2019, the number of diabetes cases in the IDF MENA region was 55 million, which is estimated to reach 108 million by 2045. These factors are expected to increase product use and demand during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Nephrology And Urology Devices market

In addition, the market is expected to be driven by the increasing geriatric population, which is highly susceptible to various diseases including kidney and urinary disorders. As per the WHO, the number of people aged 65 years and above is expected to rise from 7% in 2000 to 16% in 2050, globally. Old age is considered one of the greatest risk factors for developing various medical conditions. Aging also weakens the immune system and consequently increases a patient’s susceptibility to various ailments, such as renal disorders, diabetes, prostate cancer, and urinary retention. According to the American Society of Nephrology, urologic diseases are the third-most common concern among the geriatric population, and these account for approximately 47% of physician visits.

Furthermore, the growing demand for minimally invasive procedures due to the recent technological innovations is expected to increase product sales. Devices, such as ureteral stents, catheters, guidewires, & renal dilators, are developed using advanced materials including nitinol, polyurethanes/polycarbonates, and silicone. Carbothane is a material resistant to several chemicals, such as iodine, hydrogen peroxide, or alcohol, which increases its life. For instance, MAHURKAR Chronic Carbothane catheter, developed by Medtronic plc is made of Carbothane, which provides superior kink resistance and enables simple single insertion, while facilitating high flow rates with low arterial & vein pressure. Thus, the usage of advanced materials in product manufacturing for enhanced strength and resistance increases the demand, thereby driving the market growth.

Countries, such as U.S. and Canada, have witnessed a high prevalence rate of chronic kidney and urinary disorders owing to sedentary lifestyles. In addition, the increasing number of patients undergoing surgeries and rising consumer awareness about minimally invasive surgeries are also contributing to the market growth in these countries. In addition, as per the Population Reference Bureau fact sheet, the number of people in the U.S. aged 65 years and above is expected to nearly double from 52 million in 2018 to 95 million by 2060 (rise from 16% to 23%). This will support the market growth. Similarly, according to the Canadian Institute for Health Information’s (CIHI) report Canadian Organ Replacement Register (CORR), 2019, the number of people in Manitoba, a Canadian Province, on dialysis has increased by 57% from 2009 to 2019.

Moreover, due to the global pandemic, healthcare facilities, such as hospitals, have been exhausted with a large influx of such patients; therefore, many countries have postponed elective surgeries and other healthcare procedures for an indefinite period. Moreover, the demand for renal disease treatment products used in homecare has increased. Similarly, the demand for home healthcare among the aging population is also increasing as they are at a higher risk of acquiring the infection and cannot visit any healthcare facility. Home health service providers are offering multiple home care services, including the delivery of medicines. This is likely to boost the growth of nephrology and urology devices market during the forecast period.

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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
• Others

 

Nephrology & Urology Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Market Share Insights

• February 2019: Coloplast signed a three-year agreement with Premier, Inc., a U.S.-based healthcare improvement company, for its urology products.

 

Key Companies profiled:

Some prominent players in the global Nephrology And Urology Devices market include

• 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.

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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