Nephrology & urology devices are medical equipment which are used for diagnosis and treatment of diseases or disorders related to kidney and urinary system. Urology deals with study of urinary system and related diseases or disorders whereas nephrology overlooks kidney’s functionality. Due to increasing prevalence of chronic kidney diseases (CKD), benign prolapse hyperplasia (BPH), end stage renal disease (ESRD) and other related disorders, advancement in nephrology & urology devices has become more critical. Patients increasingly prefer minimally invasive procedures for associated benefits like reduced recovery and treatment time.
Global nephrology and urology devices market consists of urinary stone treatment devices, dialysis equipment, urinary incontinence & endoscopy devices, pelvic organ prolapse and BPH treatment devices. Of these, dialysis equipment is the largest segment which can be attributed to high prevalence of kidney related diseases. However, BPH treatment devices segment is expected to be the most promising. The market is deemed to be highly fragmented and have high competition with new companies entering the market with innovative products.
Many companies are now shifting their focus to relatively newer markets to increase their share. Merger & acquisitions, strategic alliance for R&D and new product launch are the most implemented strategies to attain market dominance. Nephrology and urology devices industry is majorly dominated by suppliers due to highly differentiated product offering. High switching costs and high associated investment restrict the overall market growth.
Minimally invasive surgery is the most promising area within the global nephrology & urology market as far as technological innovations are concerned, due to high preference among patients. The latest technology involves extracorporeal shock wave lithotripsy (ESWL) that has enabled improvement of minimally invasive surgery over open surgery. Additionally, innovation in technologies like laser lithotripsy, wearable artificial kidney and transurethral microwave thermotherapy are expected to drive the overall market.
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