The major driving factor for this market is the growing aging population and prevalence of chronic kidney diseases. Innovation in urology devices and an increase in healthcare expenditure will also supplement the growth of this market. However, the high cost associated with these devices hinders the growth of this market. Growing awareness about benefits such as reduced treatment and recovery time among renal disease patients is fuelling the demand for nephrology and urology devices.
Nephrology and Urology Devices market by Type
Nephrology and Urology devices market is segmented by type into dialysis equipment, urinary stone treatment devices, urinary incontinence & pelvic organ prolapse devices, endoscopy devices and benign prosthetic hyperplasia treatment devices. Dialysis equipment is the largest segment of the market due to rising incidences of chronic kidney diseases.
Nephrology and Urology Devices market by Geography
Geographically, the market is segmented into North America, Europe, Asia-Pacific and LAMEA. Currently, Europe is the largest region in the nephrology and urology devices market with leading dialysis and sacral neurostimulation market. North America is the second largest market and is expected to expand its sacral neurostimulation market in the coming years.
Baxter International, C.R.Bard, Fresenius Medical Care, Nikkiso Co. Ltd, Dornier Medtech is some major key players in this market. Product launch, merger and acquisition, and research and development are the competitive strategies adopted by these players. In Sep 2013, Baxter acquired Gambro, a medical device company. This acquisition expands Baxter’s dialysis product portfolio and its geographic presence in the dialysis business.
Porter’s Five Forces model reveals that the bargaining power of suppliers is high as suppliers are producing highly differentiated products. High switching cost for these differentiated products lowers the bargaining power of buyers. However, high initial investment is required to startup these device-manufacturing units. This leads to a minimal threat from new entrants. The market is highly fragmented and a number of players are coming up with new innovative products, which intensify the competition in the market. Key players and their strategies are identified and analyzed to develop a market entry and expansion strategy. Driving and limiting factors affecting the growth of nephrology and urology devices market are discussed in the report.
The report provides throws light on the efficient current trends. Based on understanding of trends, revenues are forecast from 2013-2020.
Analysis of key strategies adopted by market players would assist in providing in-depth understanding of the market intelligence.
Analysis of trends in various regions would help the companies to plan their strategies depending on the geographic region.
Emphasis is laid on key factors affecting the growth of global neurology and urology device market. These factors are critically analyzed to reveal the most impacting factors in the market
Porter’s Five Forces analysis provides an insight into market
* This report will be delivered in 12 Business Days. *
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.