MarketInsightsReport has published a report titled Global Nephrology And Urology Devices Market research report 2020 that is a detailed observation of several aspects, including the rate of growth, technological advances, and different methodologies implemented by the primary current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.
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.
Top Companies in the global Nephrology And Urology Devices Market are
Baxter International Inc. (NYSE:BAX); Fresenius Medical Care AG & Co. KGaA (NYSE:FMS); Cook Group Incorporated; B. Braun Group; C. R. Bard Inc; and Others.
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North America was the largest region in the global nephrology and urology devices market, accounting for 35% of the market in 2019. Asia Pacific was the second largest region accounting for 32% of the global nephrology and urology devices market. Eastern Europe was the smallest region in the global nephrology and urology devices market.
Wearable artificial kidney is 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. In 2015, the FDA approved the clinical testing of wearable artificial kidney and in 2017, a prototype was tested in the University of Washington . The nephrology and urology devices market has been discussing the feasibility and development of artificial kidneys since more than a decade, and the future seems to be very promising as the test was successful with positive results.
1) 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
2) By End User: Hospitals And Clinics; Diagnostic Laboratories; Others
3) By Type of Expenditure: Public; Private
4) By Product: Instruments/Equipment; Disposables
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Regions covered By Nephrology And Urology Devices Market Report 2020 To 2030 are
North America (The United States, Canada, and Mexico), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Central & South America (Brazil, and Rest of South America), and Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)
Effect of the Nephrology And Urology Devices market report is
– A comprehensive evaluation of all opportunities and risks in the market.
– Nephrology And Urology Devices market current developments and significant occasions.
– A deep study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the market for approaching years.
– Top to the bottom approach of market-express drivers, targets, and major littler scale markets.
– Favorable impressions inside imperative mechanical and publicize the latest examples striking the market.