Nephrology and urology devices market to reach USD 47.8B by 2032

Allied Market Research published a report, titled, “Nephrology and urology devices market by product (Instruments and consumables & accessories), by application, (Kidney diseases, urological cancer & BPH, and others), and by end user, (Hospitals, dialysis centers, and others): Global opportunity analysis and industry forecast, 2023-2032”. According to the report, the global nephrology and urology devices industry generated $31.3 billion in 2022, and is anticipated to generate $47.8 billion by 2032, witnessing a CAGR of 4.3% from 2023 to 2032.

Prime determinants of growth
Increase in prevalence of kidney and urological disorders such as chronic kidney disease, urinary tract infections, kidney stones, & urologic cancers; surge in technological advancements; and rise in demand for minimally invasive medical procedures drive the growth of the global nephrology and urology devices market. However, the high cost of urology devices restricts market growth. Contrarily, growth prospects in emerging markets present new opportunities in the coming years.

The consumables and accessories segment to maintain its leadership status throughout the forecast period
Based on product, the consumables and accessories segment held the largest market share in 2022, accounting for more than three-fifths of the global nephrology and urology devices market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 4.5% from 2023 to 2032. This is attributed to rise in prevalence of chronic kidney diseases and growth in aging population, which led to surge in demand for urological devices such as consumables.

The kidney diseases segment to maintain its leadership status throughout the forecast period
Depending on application, the kidney diseases segment held the largest market share in 2022, accounting for more than half of the global nephrology and urology devices market and is estimated to maintain its leadership status throughout the forecast period. Increase in the number of people suffering from chronic kidney diseases has led to increase in the demand for urology and nephrology devices which propels the segment growth.

However, the urological cancer & BPH segment is projected to manifest the highest CAGR of 5.4% from 2023 to 2032. This is attributed to increase in awareness of urological cancers, advances in medical technology, and rise in aging population, bring more susceptible to urological conditions such as cancer and BPH.

The hospitals segment to maintain its lead position during the forecast period
As per end user, the hospitals segment accounted for the largest share in 2022, contributing to nearly more than two-fifths of the global nephrology and urology devices market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to rise in technological advancements and innovations in nephrology and urology devices making it increasingly feasible to perform procedures in hospital settings.

However, the dialysis centers segment is projected to manifest the highest CAGR of 4.8% from 2023 to 2032. This is attributed to the dialysis centers offering specialized care & medical expertise in managing kidney-related conditions, as a result of which, patients prefer these centers for the convenience of receiving treatment from trained professionals in a clinical setting.

North America to maintain its dominance by 2032
According to region, North America held the largest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global nephrology and urology devices market revenue and is likely to dominate the market during the forecast period. This is attributed to the well-established healthcare system, rise in prevalence of urological diseases, technological advancement in devices, and rise in number of product approvals.

However, Asia-Pacific is expected to witness the highest CAGR of 4.9% from 2023 to 2032. Rise in awareness about early diagnosis & treatment, increase in prevalence of urological & kidney diseases, and development of healthcre industry are expected to drive the growth of the nephrology and urology devices market.

Leading market players:

• B. Braun SE
• Baxter International Inc.
• Becton, Dickson and Company
• Boston Scientific Corporation
• Coloplast Ltd
• Karl Storz GmbH & Co. KG
• Medtronic plc
• Olympus Corporation
• Stryker Corporation
• Teleflex Incorporated

Allied Market Research