- Increase in the geriatric population across the world, rise in the prevalence of renal disorders, and surge in healthcare expenditure propel the growth of the global nephrology devices market.
PORTLAND, Oregon, Jan. 22, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Nephrology Devices Market by Device Type (Dialysis Instrument, Lithotripter, Dialysis Catheters, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global nephrology devices industry was pegged at $12.51 billion in 2019 and is projected to reach $16.42 billion by 2026, registering a CAGR of 4.0% from 2019 to 2026.
Chief reasons for market fluctuations
Rise in the geriatric population across the world , surge in prevalence of renal disorders, and increase in healthcare expenditure drive the growth of the global nephrology devices market. However, high prices of nephrology devices restrain the market growth to certain extent. On the other hand, high growth potential in developing economies creates new opportunities in the market.
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The dialysis instrument segment to rule the roost through 2026
Based on device type, the dialysis instrument segment held the largest share in 2019, accounting for more than two-fifths of the global nephrology devices market. In addition, the segment is expected to portray the fastest CAGR of 4.6% during the forecast period. This is due to rise in demand for these machines in developing countries such as India, as there is an increase in the number of patients who require hemodialysis. The report also analysis other segments including lithotripter and dialysis catheters.
North America held the largest share in 2019
The global nephrology devices market across North America dominated in 2019, contributing to nearly one-third of the market, and is estimated to lead the trail throughout the forecast period. This is attributed to the easy availability of nephrology devices, and surge in the geriatric population. On the other hand, the Asia-Pacific region is expected to register the fastest CAGR of 8.6% during the study period. This is due to surge in awareness related to the use of nephrology devices and increase inhealthcare expenditure. The report also examines other regions including Europe and LAMEA.
Major market players
- Fresenius Medical Care
- Baxter International
- Nikkiso Co. Ltd
- Asahi Kasei Corporation
- Nipro Corporation
- Cantel Medical Corporation
- B. Braun Melsungen AG
- C.R.Bard
- Dornier Medtech
- DaVita
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Major market players
- Xanodyne Pharmaceuticals
- ACIC Fine Chems
- Aurobindo Pharma Ltd.
- Amerigen Pharms Ltd
- Akorn
- Pfizer (GenMed)
- Mylan
- Zydus Cadila
- Sanofi
- Takeda
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