The North America Nephrology and Urology Devices Market would witness market growth of 5.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 40,538.4 thousand units, showcasing a growth of 5.2% (2019-2022).
With advancements such as robotic-assisted surgeries and laser technologies, minimally invasive procedures have gained prominence in urology. These procedures offer reduced recovery times, fewer complications, and improved patient outcomes. A growing emphasis is on shifting certain aspects of nephrology and urology care to patients' homes. Home-based dialysis machines and self-monitoring devices are gaining popularity, providing patients with greater flexibility and reducing the burden on healthcare facilities.
The ongoing economic recession influences several industries, including biotechnology & pharmaceuticals, which has an impact on the development & demand for antibiotics such as macrolides. During a recession, governments and healthcare providers may cut back on healthcare spending, which leads to reduced funding for R&D of new urology devices. A recession can led to declining hospital visits and clinical services, as patients may postpone elective surgeries and other medical procedures to save money.
North America boasts a well-established, sophisticated healthcare infrastructure, including hospitals, clinics, and research institutions. The United States, in particular, has one of the highest healthcare expenditures globally. The population in North America generally has a high level of health awareness and consciousness. As a result, these aspects will boost the market growth in the coming years.
The US market dominated the North America Nephrology and Urology Devices Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,171.5 million by 2030. The Canada market is experiencing a CAGR of 8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7% during (2023 - 2030).
Based on End-use, the market is segmented into Hospitals, Clinics, Ambulatory Surgical Centers, and Others. Based on Application, the market is segmented into Kidney Diseases, Bladder Disorders, Urolithiasis, Urological Cancer & BPH, and Others. Based on Product, the market is segmented into Urology Guidewires, Stone Basket, Renal Dilators, Mesh & Inserts, Ureteral Catheters, Urinary Stents, PCN Catheters, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Nephrology And Urology Devices Market is Predict to reach $8.5 Billion by 2030, at a CAGR of 6.3%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Hollister, Inc., Medtronic PLC, Coloplast Group, Boston Scientific Corporation, ConvaTec Group PLC, Baxter International, Inc., Asahi Kasei Corporation, Cook Medical, Inc. (Cook Group), Terumo Corporation, Teleflex Incorporated
By End-use (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Product (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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