NEPHROLOGY AND UROLOGY DEVICES MARKET ANALYSIS

Nephrology And Urology Devices MarketSize and Trends

The global nephrology and urology devices market is estimated to account for US$ 23,192.8 Mn in terms of value in 2020 and is expected to reach US$ 35,823.0 Mn by the end of 2027.

Dialysis Devices held dominant position in the global nephrology and urology devices market in 2019, accounting for 71.3% share in terms of value.

Figure 1. Global Nephrology and Urology Devices Market Share (%), by Value, by Device Type, 2019

The global nephrology and urology devices market was valued at US$ 21,796.2 Mn in 2019 and is forecast to reach a value of US$ 35,823.0 Mn by 2027 at a CAGR of 6.4% between 2020 and 2027.

Figure 2. Global Nephrology and Urology Devices Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Market Trends/Key Takeaways

Major players in the market are focused on offering digital solutions during the Covid-19 pandemic. For instance, in July 2020, Baxter International expanded its partnership with Ayogo Health Inc. to combine the latter’s LifePlan behavior-based digital platform with Baxter’s renal care expertise to build mobile apps and digital solutions to support kidney failure patients.

Government initiatives to boost R&D in nephrology and urology devices is expected to propel growth of the global nephrology and urology devices market. For instance, in July 2020, the U.S. Department of Health and Human Services (HHS) and the American Society of Nephrology (ASN) announced the six winners of the US$ 3 million KidneyX: Redesign Dialysis Phase 2 competition during the virtual KidneyX Summit.