Transparency Market Research has published a new report on the global nephrology and urology devices market. According to the report, the global nephrology and urology devices market is expected to expand at a 6.40% CAGR during the period from 2012 to 2018. The report, titled 'Nephrology and Urology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018', states that the global nephrology and urology devices market is expected to progress from US$13.3 bn in 2011 to US$20.5 bn by 2018.
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Nephrology and urology are the elements of medical science and deals with the study of the urinary system and the kidneys, associated complications, and diseases. Nephrology, especially, deals with the kidneys whereas urology is associated with the entire urinary system. According to the United States National Institute of Diabetes and Digestive and Kidney Diseases, in the U.S., every year, around 2 million people are diagnosed with kidney stone. The high prevalence of urinary system diseases and kidney stone are projected to propel the global nephrology and urology devices market during the period between 2012 and 2018.
The global nephrology and urology devices market is segmented on the basis of geography and type of device. Based on the type of device, the global nephrology and urology devices market is classified into urinary stone treatment devices, dialysis devices, urinary incontinence and pelvic organ prolapse treatment devices, endoscopy devices, and benign prostatic hyperplasia devices. In 2011, in terms of value, the global nephrology and urology devices market was dominated by the dialysis devices segment. However, the benign prostatic hyperplasia devices segment is predicted to contribute largely towards the growth of the global nephrology and urology devices market in the years to come.
By geography, the global nephrology and urology devices market is divided into Asia Pacific, Europe, North America, and Rest of the World. Europe is predicted to be the largest regional market in the global nephrology and urology devices market during the forecast period. The strong adoption of advanced technologies, rapidly growing awareness among people, and increased consumer healthcare spending are expected to propel the Asia Pacific nephrology and urology devices market in the years to come.
The global nephrology and urology devices market is highly competitive and the level of competition is expected to increase in the years to come due to the introduction of new nephrology and urology devices by the leading players. Mergers and acquisitions will help the leading companies maintain their dominant position in the years to come. Some of the prominent players in the global nephrology and urology devices market are Asahi Kasei Corp, Baxter International, Inc., Cook Group Incorporated, Fresenius Medical Care, Nipro Corporation, Terumo Corporation, Rockwell Medical Technologies, Inc., B. Braun Group, C. R. Bard Inc., Dornier Medtech, Nikkiso Co., Ltd., and Nxstage Medical Inc.
Factors such as innovations in the urology and nephrology devices, the growing popularity of non-invasive and minimally invasive treatment processes, favorable healthcare policies, and increasing incidence of chronic kidney diseases are expected to propel the global nephrology and urology devices market in the years to come.
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