Nephrology and urology devices are used to treat
ailments related to the urinary system, such as chronic kidney
disease, kidney stone, urinary incontinence, and end stage renal
disease. According to the Global Burden Disease study which was
conducted in 2015, chronic kidney disease is ranks as the 17th
leading cause of death globally. In many developed countries, chronic
kidney disease ranks as the 5th leading cause of death. Kidney stones
have become an epidemic in U.S. with a prevalence rate of 8.8% as per
the statistics released by National Kidney Foundation. According to
the study conducted by Rajiv Gandhi University of Health Sciences, an
estimated 5-7 million people suffer from kidney stone disease in
India. With the advancement in technology, the adoption of innovative
Nephrology and Urology devices has increased significantly.
Novel technologies such as wearable
medical devices and Short wave lithotripsy are foraying into market
Nephrology and Urology devices market is
undergoing a wave of transformation, as key players are introducing
innovative products into the market in order to differentiate their
product offerings. The rise in healthcare expenditure in developed
economies such as the U.S. and China has had a positive impact on
growth of the market. Wearable artificial kidney has been a
revolution in the nephrology and urology devices market. Wearable
artificial kidney has the potential to provide minimally invasive
dialysis technology. In 2016, Linux Hospital conducted clinical
trials for wearable artificial kidney and it concluded that the
technology will be able to provide dialysis for patients in home
settings and remote locations. Short wave lithotripsy is a minimally
invasive procedure that is used to remove kidney stones. The
technique was first used in 1980 and today it has become an essential
part of the market. The market will witness strong growth during the
forecast period as the demand for minimally invasive products
increases.
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Nephrology and Urology market will
experience high growth in the Asia Pacific region
Europe is the largest market with respect to
geography for the nephrology and urology market due to large
population base and presence of key players in the region. According
to the data published by European Association of Urology, one in ten
people suffer from kidney stones in Europe. This is attributed to the
shift towards unhealthy lifestyle which has led to high prevalence of
obesity. The association further stated that an estimated 55 million
people are currently suffering from kidney stone in Europe. North
America is the second largest market for Nephrology and Urology
market. As per the data released by U.S. renal data system, 468,000
patients underwent dialysis in 2013 which shows an astonishing 47%
increase in the patient pool over 40 years. With the increase in
aging population and rise in prevalence of obesity, the market for
Nephrology and Urology devices market is estimated to grow in North
America.
Asia Pacific countries such as China and India
constitute significant patient population for nephrology and urology
devices. According to National Kidney Foundation, the cases for
kidney failure will increase substantially in countries such as China
in the near future as the geriatric population surges. As per an
independent study conducted in India, 16% of the population suffers
from renal disease. As the patient pool increases coupled with
improving healthcare infrastructure, the demand for novel nephrology
and urology devices will increase.
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The key players in the Nephrology and
Urology devices market are competing by acquiring small players to
gain market share
The key players in the Nephrology and Urology
devices market are Boston Scientific Corporation, Cook Medical,
Fresenius Medical Care, Baxter International, American Medical
Systems and Olympus Medical Systems. The market has witnessed the
entry of new players which are able to offer innovative products at
competitive pricing. The key companies have adopted mergers and
acquisition strategy to gain market share and maintain dominant
position in the nephrology and urology devices industry. For
instance, Baxter International completed the acquisition of Gambro in
2013. The market is expected to witness consolidation as the large
companies continue to acquire small players to expand their product
portfolio and geographic presence.
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