Devices used for treating kidney and urinary tract problems are called as nephrology and urology devices. These devices are used for treating problems such as benign prostatic hyperplasia (BPH), chronic kidney disease (CKD) and end-stage renal disease (ESRD), kidney stones, urinary incontinence, and pelvic organ prolapse. The increasing awareness about urinary diseases and the high incidence of renal failures amongst the global population due to diabetes, CKD, and ESRD are driving the global nephrology and urology devices market
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Global Nephrology and Urology Devices Market to Rise at a CAGR of 6.40% between 2012 and 2018
The global nephrology and urology devices market is segmented on the basis of the type of device and geography. The types of devices in this market are dialysis devices, urinary incontinence and pelvic organ prolapse treatment devices, urinary stone treatment devices, endoscopy devices, and benign prostatic hyperplasia (BPH) devices. Geographically, this market is segmented into North America, Asia Pacific, Europe, and Rest of the World. According to Transparency Market Research, the global nephrology and urology devices market is likely to reach US$20.5 bn by 2018 from US$13.3 bn in 2011, rising at a CAGR of 6.40% between 2012 and 2018.
Rising Prevalence of Benign Prostatic Hyperplasia to Drive Overall Market
The report also states that the dialysis devices segment was the largest contributor to this market in 2011. However, the benign prostatic hyperplasia (BPH) devices segment is expected to grow at a rapid pace from 2012 to 2018. Studies show that benign prostatic hyperplasia, which causes urinary incontinence, will affect about 70% of men above the age of 60. To treat this embarrassing condition, most men will opt for suggested treatments, propelling this segment in the overall nephrology and urology devices market.
Growing Number of Geriatrics to Propel Global Market
The primary growth driver for the global nephrology and urology devices market is the growing pool of the aging population, as elderly people are prone to diseases that are related to the urinary tract and kidneys. Furthermore, according to the U.S. National Institute of Diabetes and Digestive and Kidney Diseases, more than 2 million kidney stone patients are diagnosed each year across the U.S. As this demographic increases in the coming years, the demand for nephrology and urology devices will also go up.
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Medical Tourism Industry Lends Impetus to Nephrology and Urology Devices Market
The ongoing economic development in Australia, India, and China is expected to result in increased spending on healthcare technologies and devices, thereby improving the chances of growth of nephrology and urology devices market in Asia Pacific. Furthermore, several healthcare providers and hospitals are investing in state-of-the-art technologies and devices in Asia Pacific as the medical tourism industry flourishes, which is also propelling this market. The only restraint on the overall nephrology and urology devices market is the lack of medical reimbursements to buy new devices and technologies.
Some of the important players in the global nephrology and urology devices market are Nikkiso Co., Ltd., Asahi Kasei Corp, B. Braun Group, C. R. Bard Inc., Baxter International, Inc., Fresenius Medical Care, Cook Group Incorporated, Dornier Medtech, Nipro Corporation, Nxstage Medical Inc., Rockwell Medical Technologies, Inc., and Terumo Corporation.