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(Medical-NewsWire.com, October 30, 2018 ) Wearable artificial kidney is a new trend shaping the nephrology and urology device market and replaces stationary hemodialysis machines. Traditionally, patients undergoing a renal replacement surgery had to be subjected to large blood cleansing machines, disabling free movement and freedom of living. In 2015, the FDA approved the clinical testing of wearable artificial kidney and in 2016, a prototype was tested in the University of Washington. The nephrology and urology devices market has been discussing the feasibility and development of artificial kidneys since more than a decade, and the future seems to be very promising as the test was successful with positive result.
THE BUSINESS RESEARCH COMPANY EXPECTS THE NEPHROLOGY AND UROLOGY DEVICES MARKET TO GROW TO $25 BILLION BY 2021
Asia Pacific was the largest region in the nephrology and urology devices market in 2017, accounting for more than one-third of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, lithotripters are non-invasive medical devices developed to treat kidney and pancreatic stones. In the procedure, kidney stones are broken up by passing high energy electromagnetic shock and sound waves while the patient sits inside a water bath. The non-surgical procedure is gaining popularity as traditional therapies involved complicated and painful
surgeries and long recovery times.
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Baxter International Inc. was the largest competitor with 19.74% of the market, generating revenues of $3.9 billion for the financial year 2016. Baxter International’s growth strategy is to improve its product offerings by investing in research and development activities. The company invested about $159 million in 2016 for research and development of its products, highest since 2014. Baxter also separated its bioscience business into Baxatla which provided the company flexibility to formulate its growth and investment strategies.
Nephrology and urology devices are used in the treatment and diagnosis of diseases related to kidney (Nephrology) and genitourinary system including urinary tract systems of both genders and male reproductive system problems (Urology). Most commonly occur diseases related to those systems are chronic kidney diseases (CKD), kidney stones, end stage renal disease (ESRD), urinary incontinence, pelvic organ prolapse and benign prostatic hyperplasia (BPH).
Nephrology And Urology Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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