The global nephrology and urology devices market, a part of the healthcare industry, grew at a compound annual growth rate (CAGR) of around 5% during the historic period. The healthcare industry showed a steady growth. The growth is mainly driven by growing number of patients suffering from diabetes and hypertension, kidney related diseases and rising adoption of dialysis procedures over renal transplants are driving the market.
In the forecast period, the global nephrology and urology devices market size is expected to be over $20 billion by 2021, growing at a CAGR of nearly 4%. This is expected due to the expected increase in development of minimally invasive treatment. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global nephrology and urology devices market in the future.
Find TBRC’s report on the nephrology and urology devices market: https://www.thebusinessresearchcompany.com/report/nephrology-and-urology-devices-global-market-report-2018
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 2016, a prototype was tested in the University of Washington.
Major companies in the nephrology and urology devices market, offering weaarable technology include Baxter International Inc., Fresenius Medical Care AG & KGaA and Cook Group Incorporated.
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