The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global nephrostomy devices market. In addition, complete analysis of changes on the global nephrostomy devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19, stringent lockdown measures and restrictions in movement caused a massive supply chain crisis and also resulted decline in economic growth .During COVID-19 pandemic, global nephrostomy devices market was adversely affected due to supply chain distribution, which has certainly affected the market growth to a major extend. There was a severe effect in the supply of essential medical supplies and equipment such as atomizer, life-support machine, oxygen generator, etc. In the post COVID-19 phase, the market is expected to witness new growth opportunities and is expected to have an emerging demand in the upcoming years.
The global nephrostomy devices market is driven by increase in prevalence of nephrological and urological diseases such as kidney stone, bladder obstruction, urinary retention, bladder cancer, prostate cancer, hydronephrosis and other diseases. According to the National Center for Biotechnology Information (NCBI), 12% of the population in the world suffers due to kidney stones complications globally. Along with this, the rise in the number of procedures for percutaneous nephrostomy, is also expected to stimulate market growth in overall nephrostomy devices market in the coming years. Also, percutaneous nephrostomy offers certain advantages over conventional procedures. These include advantages like minimal blood loss, smaller incisions, reduced duration of hospitalization, etc. The rise in demand for minimally invasive procedures and growth in health awareness among the general population for availing better quality of life would help in the market growth in the coming years. All of the above mentioned factors are expected to boost the growth of the market in the upcoming years.
The market is expected to have growing new growth opportunities with rise in investment in research and development activities by the manufacturers to develop innovative and safer nephrostomy devices. In this market research, technological development plays a critical role for the production of products like drainage tubes, nephrostomy catheters, and sheath dilators among others. The investment in research and development certainly support for the production of precise nephrostomy devices with better precision and high efficiency. Likewise, growth and diversification of nephrostomy devices market along with increased collaboration with government agencies in providing better treatment facilities for treatment of urological diseases is expected to create new market opportunity during the projection period.
The global nephrostomy devices market is expected to have market restraints like the stringent regulations imposed by the regulatory authorities for the production and quality of nephrostomy devices. This factor is expected to create hurdles for the market growth during the forecast period.
The major growth challenge for the market is high cost of nephrostomy devices. Also others factors like risks associated with nephrostomy devices which includes issues like severe bleeding (haemorrhage), tube dislodgement, tube blockage, serious infection, damage to adjacent structures, etc. These factors are expected to be major growth challenge for the market.
The report provides in-depth analysis of global Nephrostomy devices market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various Nephrostomy devices in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global nephrostomy devices market comprises of different market segment like type, end-user, and geography.
By type, the nephrostomy devices includes key segments of nephrostomy catheters, drainage tubes, guidewires, sheath dilators and others. The nephrostomy catheters segment is likely to have growing demand in the market. The nephrostomy catheters is benefits that are provided by them. These advantages includes, it can decrease the bleeding volume and pipes shedding rate due to which the efficiency is enhanced in comparison to other devices. The increasing usage of nephrostomy catheters in treatment of different urological diseases is expected to create ample of new growth opportunity for the market. On the other hand, drainage tubes segment is anticipated to witness growth at higher growth rate over the estimated time period.
The nephrostomy devices market is significantly studied for end-users like hospitals & clinics, ambulatory surgical centers and others. The hospitals and clinics segment is anticipated to lead in the global market from 2022 to 2028. Hospitals and clinics provide advanced care to their patients and offer reimbursements at some point of surgeries, accordingly witnessing exceptional growth. The ambulatory surgical centers is also expected to improve its growth in the projection period due to the advantages of providing a less complicated procedure and increased access. Furthermore, the growing demand for reduction in the surgical and post-surgical expenditure and the growing occurrence of urological diseases is predicted to be a number of the high-effect growth drivers for the ambulatory surgical centers section. Also research and development centers are expected to be a prominent growth segment in the upcoming years.
The global nephrostomy devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is anticipated to lead in the nephrostomy devices market during the forecast period (2022-2028). The region is likely to have growth rapid pace due rise in prevalence of diseases like urinary retention and kidney stones which has propelled the rise in demand for the nephrostomy devices. Another factor for market growth in the North America region is rapid adoption of technologically advanced devices. Also, rise in percutaneous nephrostomy procedures within the US has fuelled market growth within the nephrostomy devices market. Furthermore, increasing availability for different devices with varieties of technological advantages has indeed gained consumer attention which has driven the market growth.
The competitive landscape analysis of Nephrostomy devices market is majorly focused on expanding the global growth of nephrostomy devices with new product launches, partnership/ agreement and merger & acquisitions which has boosted the market growth at highest pace. Besides, presence of wide range of manufacturers operating in the market offers range of nephrostomy devices in different application to fulfill the required demand has further contributed healthy growth in the market.
The key players studied in market are Cardinal Health, Boston Scientific Corporation, Cook Medical, Teleflex Incorporated, Becton, Dickinson and Company, B. Braun Melsungen AG, Coloplast Group, Olympus Corp., Argon Medical Devices, Smith & Nephew, Uresil, Stryker Corporation among others.
August 2019: Researchers at the Mayo Clinic reported development of a legitimate penile traction therapy (PTT) device for men with Peyronie’s disease that may work when used for just 30 to 90 minutes daily.
February2017: Cook Medical had launched Universa along with the two sets of percutaneous urinary drainage. The brand included foley catheters and ureteral stents in different configurations and sizes to meet the specific preferences and needs of patients and physicians.
Nephrostomy devices are used for treatment of kidney and urinary system related diseases such as kidney stone, chronic kidney disease, urinary incontinence, benign prostatic hyperplasia, and pelvic organs prolapse. A nephrostomy device is defined as a thin, plastic tube (catheter) which is inserted through the skin on from the back and into the patient’s kidney. Increasing prevalence of chronic kidney diseases is expected to propel growth of the global nephrostomy devices market over the forecast period. Nephrostomy catheters are used extensively for the purpose of drainage of a blocked urine collecting system. This blockage effect causes the development of hydronephrosis, which is treated with the help of nephrostomy catheters. Thus, a rise in the number of hydronephroses cases is expected to raise the demand for catheters, thereby fueling the growth of the global nephrostomy devices. The global Nephrostomy devices market comprises of different market segments like type, end-user and geography. By type, the nephrostomy devices includes key segments of nephrostomy catheters, drainage tubes, guidewires, sheath dilators and others. The nephrostomy catheters segment is likely to have growing demand in the market. The market is significantly studied for key end-users like hospitals & clinics, ambulatory surgical centers and others. The hospitals and clinics segment is anticipated to lead in the global market from 2022 to 2028. The global Nephrostomy devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
1) What would be forecast period in the market report?
Ans: 2022-2088 is the forecast period in the market report.
2) What are the drivers for Nephrostomy devices market?
Ans: The key driving factors of the market are increasing prevalence of nephrological diseases around the globe and rising technological advancements in the treatment of nephrological diseases.
3) Who are the key market players studied in the Nephrostomy devices market?
Ans: The key players studied in market are Cardinal Health, Boston Scientific Corporation, Cook Medical, Teleflex Incorporated, Becton, Dickinson and Company, B. Braun Melsungen AG, Coloplast Group, Olympus Corp., Argon Medical Devices, Smith & Nephew, Uresil, Stryker Corporation among others.
4) Which region is gaining majority of market share during the forecast period (2021-2028)?
Ans: North America is expected to gain major market share during the forecast period (2021-2028).