Global Nephrology And Urology Devices Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
16 Dec, 2020
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The global nephrology and urology devices market is expected to decline from $26.4 billion in 2019 to $22.3 billion in 2020 at a compound annual growth rate (CAGR) of -15.7%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of nephrology and urology devices due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $32.2 billion in 2023.
The nephrology and urology devices (or) equipment market consists of sales of nephrology and urology devices and related services by entities (organizations, sole traders and partnerships) that produce nephrology and urology devices used in diagnosis and treatment of kidney and genitourinary diseases. This industry includes establishments that produce dialysis devices used during kidney failures and kidney dysfunction, urinary stone treatment devices used in treating kidney stones, urinary incontinence & pelvic organ prolapse devices, endoscopy devices and other devices.
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The global nephrology and urology devices market is further segmented based on type, end-user, type of expenditure, product and geography.
By Type: Dialysis Devices And Equipment, Urinary Stone Treatment Devices And Equipment, Urinary Incontinence & Pelvic Organ Prolapse Devices And Equipment, Benign Prostatic Hyperplasia (BPH) Treatment Devices And Equipment, Endoscopy Devices And Equipment.
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
By Type of Expenditure: Public, Private.
By Product: Instruments/Equipment, Disposables.
By Geography: The global nephrology and urology devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the North American nephrology and urology devices market accounts for the largest share of 35% in the global nephrology and urology devices market 2019.
Trends In The Nephrology And Urology Devices Market
Wearable artificial kidneys are a new trend shaping the nephrology and urology device market and replaces stationary hemodialysis machines. Traditionally, patients undergoing a renal replacement surgery had to be subjected to large blood cleansing machines, disabling free movement and freedom of living.
Nephrology And Urology Devices Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides nephrology and urology devices market overviews, analyzes and forecasts market size and growth for the global nephrology and urology devices market, nephrology and urology devices market share, nephrology and urology devices market players, nephrology and urology devices market segments and geographies, nephrology and urology devices market’s leading competitors’ revenues, profiles and market shares. The nephrology and urology devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.