The global nephrology and urology incontinence devices market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4.1% during the forecast period from 2022 to 2032. This insight comes from the latest report by Future Market Insights (FMI), which offers a comprehensive analysis of the historical and current landscape of the market, focusing on production, consumption, volume, and value.
The report segments the market into various categories, including regions and players, providing valuable insights into demand patterns and growth prospects. Key drivers fueling the expansion of the nephrology and urology incontinence devices market include government initiatives supporting Research and Development (R&D) in the sector.
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One notable example is the KidneyX Summit held in July 2020, where the United States Department of Health and Human Services (HHS) and the American Society of Nephrology (ASN) awarded six winners of the US$ 3 million KidneyX: Redesign Dialysis Phase 2 competition. Such initiatives are expected to propel sales of nephrology and urology incontinence devices.
Moreover, the demand for these devices has surged amid the Covid-19 pandemic, with a heightened focus on providing digital solutions. Additionally, the market is set to benefit from the increasing geriatric population globally.
Despite these positive trends, challenges persist, notably in the form of high installation costs for sophisticated equipment like lithotripters. However, these challenges are expected to contribute to the overall growth of the nephrology and urology incontinence devices market.
As the market continues to evolve, stakeholders are urged to stay abreast of the latest trends and innovations to capitalize on emerging opportunities.
Key Takeaways: Nephrology and Urology Incontinence Devices Market (2022-2032)
- The market is expected to grow steadily at a CAGR of 4.1% 2022 to 2032.
- The primary driver is the rising prevalence of urological disorders like chronic kidney disease (CKD) and urinary incontinence, particularly among the aging population.
- Adult diapers, catheters (including Foley and Percutaneous Nephrostomy – PCN), and absorbent pads are expected to be major product categories. PCN catheters are projected to have the highest growth rate due to their versatility in treating various urological conditions.
- North America is expected to remain the dominant market due to high healthcare spending and an aging population. However, Asia Pacific is expected to show significant growth due to rising disposable incomes and increasing awareness of urological treatments.
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Competition Landscape:
Key players in the nephrology and urology incontinence devices market include Baxter International Inc., C. R. Bard, Inc., Coloplast UK Ltd., Unicharm Corporation, Kimberly-Clark Corporation, Hollister Inc., ConvaTec, B.Braun Melsungen AG, SCA (Svenska Cellulosa Aktiebolaget), and others.
The demand for nephrology and urology incontinence devices is expected to increase, driven by the growing preference for minimally invasive and non-invasive treatment methods.
Recent Developments:
- In November 2020, Baxter International Inc. (US) received 510(k) certification from the FDA for their Homechoice Claria automated peritoneal dialysis system with the Sharesource connection platform.
- In May of the current year, Fresenius Medical Care AG & Co. KGaA (Germany) announced the inauguration of a new distribution facility in Knoxville, Tennessee, facilitating easier access to goods for in-center hemodialysis therapy.
Key players covered in the report include:
- Baxter International Inc.,
- C. R. Bard, Inc,
- Coloplast UK Ltd.,
- Unicharm Corporation,
- Kimerly-Clark Corporation,
- Hollister Inc.,
- ConvaTec
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Key Segments:
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
By End User:
- Hospitals and Clinics
- Diagnostic Laboratories
By Type Of Expenditure:
- Public
- Private
By Product:
- Instruments/Equipment
- Disposables
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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