Nephrology and Urology Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Nephrology and urology devices are used in the treatment of urinary systems 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 was ranked 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 shortwave lithotripsy are foraying into the market

Several manufacturers are introducing innovative nephrology and urology devices into the market, as a means of differentiating 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. Development of wearable artificial kidney, which provides minimally invasive dialysis technology, has majorly contributed to growth of the nephrology and urology devices market. 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.

Nephrology and Urology market to witness high growth in the Asia Pacific region

Europe is the largest market 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 unhealthy and sedentary lifestyle, which has led to high prevalence of obesity. The association further stated that an around 55 million people are estimated to be diagnosed with kidney stones in Europe. North America is the second-largest market for nephrology and urology devices. As per the data released by the 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. Growing geriatric population and rising prevalence of obesity in the region are expected to boost growth of the market in North America.

Asia Pacific is expected to witness fastest growth, owing to the high prevalence of kidney-related diseases. According to National Kidney Foundation, the cases of kidney failure are expected to significantly rise in countries such as China and India, owing to growing geriatric population in these economies. As per a study conducted by Coherent Market Insights, 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.

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.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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