LONDON--(BUSINESS WIRE)--The global nephrology and urology devices market is expected to grow by USD 6 billion during the period 2019-2023, according to the latest market research report by Technavio. The growth momentum of the market is expected to accelerate due to an increase in year-over-year growth. The high cost of devices and treatment is one of the major challenges in the market.
Technavio researchers, however, project the rising demand for minimally invasive surgeries as a key factor that will drive market growth. Minimally invasive surgeries are gaining immense popularity as they have proven to be effective and less painful. Moreover, these surgeries reduce recovery time and hospital stays and are thus more economical. As nephrology and urology devices are extensively used in the surgical procedure, the growing MI surgeries will fuel the market growth during the forecast period.
This market research report on the global nephrology and urology devices market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rising demand for home dialysis treatment as one of the key emerging trends in the global nephrology and urology devices market:
Global Nephrology and Urology Devices Market: Rising Demand for Home Dialysis Treatment
Patients with urinary problems are increasingly opting for home dialysis treatment as this treatment allow patients to undergo dialysis sessions with ease. As nephrology and urology devices can be used for home dialysis treatment, the growing demand for these treatments will stimulate the growth of the market during the forecast period. Thus, the rising demand for home dialysis treatment is one of the key trends that will gain traction in the global market.
“The global market for nephrology and urology devices is witnessing an increasing trend of technological advances aimed at improving the efficiency and outcomes of various nephrology and urology procedures. Moreover, several vendors are increasing their R&D efforts to introduce technologically advanced devices. This will have a positive impact on the growth of the market during the forecast period,” says a senior analyst at Technavio.
Global nephrology and urology devices market: Segmentation analysis
This market research report segments the global nephrology and urology devices market by product (renal dialysis devices, urinary incontinence devices, urolithiasis devices, benign prostate hyperplasia devices, and other devices) and geography (Asia, Europe, North America, and ROW).
The renal dialysis devices segment held the largest market share in 2019, accounting for more than 71% of the market. This product segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with a market share of close to 36% of the overall nephrology and urology devices market. The market share occupied by this region is anticipated to decrease during 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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