The global urology devices market is anticipated to grow at a CAGR of around 5.1% during the forecast period (2021-2027). The key factors to drive the market growth include the increasing prevalence of chronic kidney diseases that may lead to end-stage kidney or renal disease (ESRD). According to a 2019 report by the Centres for Disease Control and Prevention (CDC), 15% of adults in the US, or approximately 37 million people, are estimated to have chronic kidney disease. Furthermore, Furthermore, high blood pressure and diabetes are the leading causes of chronic kidney disease, according to the CDC. 1 in every 3 adults with diabetes and 1 in every 5 adults with high blood pressure may have chronic kidney disease.
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Rising acquisitions, product development, collaborations among the major players in the market also propel the growth of the market. For instance, in November 2020, Baxter International Inc., a global developer in renal care, announced today that the Homechoice Claria automated peritoneal dialysis (APD) system with Sharesource connectivity platform has been approved by the U.S. Food and Drug Administration (FDA). Homechoice Claria, in collaboration with Sharesource, will boost home dialysis growth by bringing the benefits of a two-way connected automated peritoneal dialysis system combined with a simple, intuitive device to more patients in the US.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Products
· By Application
· By End-user
Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
Competitive Landscape- Abbott Laboratories Inc, Medtronic Plc, Baxter International Inc., Olympus Corp.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
· How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
