The global renal medical devices services market size is projected to expand at a substantial CAGR during the forecast period. Growth of the market is attributed to rising demand for dialysis equipment’s.
Kidney disease has affected a large proportion of the global population and has become more prevalent in recent decades. Diabetes, high blood pressure, and a variety of other chronic (long-term) conditions can all cause damage. Kidney disease can cause a variety of other health issues, such as weak bones, nerve damage, and malnutrition. Furthermore, the geriatric population is predisposed to kidney disease. The prevalence of kidney disorders is expected to rise as the geriatric population grows.
Furthermore, as a result of the global pandemic, healthcare facilities such as hospitals have been overburdened with a large influx of patients; as a result, many countries have postponed elective surgeries and other healthcare procedures indefinitely. Furthermore, there has been an increase in the demand for renal disease treatment products used in homecare.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing cases of kidney failure in generic population is projected to drive the market.
- Rising demand for urology and nephrology devices has fueled the market.
- Development of minimal invasive devices is anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the global renal medical devices services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Renal Medical Devices Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Dialysis Equipment, Renal Denervation Devices, Wearable Artificial Kidney Device, Distal Embolic Protection Devices), Applications (Kidney Failure, Chronic Kidney Disease, End-stage Kidney Disease, Renal Kidney Stone Disease, Hypertension, Diabetes, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
B Braun Melsungen Ag; Baxter International Inc; Boston Scientific Corporation; and Medtronic
Market Segment Insights:
The dialysis equipment segment is hold major market share
Based on types, the global renal medical devices services market is segregated into dialysis equipment, renal denervation devices, wearable artificial kidney device, and distal embolic protection devices. The dialysis instruments segment is estimated to hold a major market share during the forecast period. This is due to an increase in demand for devices in developing countries such as India, where the number of patients requiring hemodialysis is increasing.
The renal kidney stone segment is anticipated to expand
On the basis of applications, the renal medical devices services market is segregated into kidney failure, chronic kidney disease, end-stage kidney disease, renal kidney stone disease, hypertension, diabetes, and others. The renal kidney stone segment is anticipated to expand at a high CAGR. A kidney stone is a crystalline mineral material that forms within the kidney or urinary tract. Kidney stones are a common cause of blood in the urine (hematuria) and severe abdominal, flank, or groin pain.
According to a 2017 United Nations report, the global population is ageing, particularly in developed countries. As a result, the incidence of kidney stones is expected to rise. This increases overall demand for medical devices used in kidney stone removal procedures, assisting the market's growth.
The market in North America is projected to hold a major market share
In terms of regions, the global renal medical devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is estimated to dominate the market. The US and Canada have developed and well-structured health-care systems. As a result, these countries benefit from the presence of a large number of global market players.
Segments Covered in the Report
The global renal medical devices services market is segmented on the basis of
- Dialysis Equipment
- Renal Denervation Devices
- Wearable Artificial Kidney Device
- Distal Embolic Protection Devices
- Kidney Failure
- Chronic Kidney Disease
- End-stage kidney disease
- Renal Kidney Stone Disease
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- B Braun Melsungen Ag
- Baxter International Inc
- Boston Scientific Corporation
The major players in the renal medical devices services market include B Braun Melsungen Ag; Baxter International Inc; Boston Scientific Corporation; and Medtronic
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.