New report on Nephrology and Urology Devices are medical devices that are used for the treatment of urinary system and kidney diseases such as chronic kidney diseases (CKD), urinary incontinence and pelvic organ prolapse, kidney stone, benign prostatic hyperplasia (BPH) and end stage renal disease (ESRD). According to WHO, more than 190 million patients suffer from chronic renal failure and undergo renal dialysis and over 220 million males suffer from diseases associated with prostate glands such as swelling that results in blockage of the flow of urine through the body. This rising incidences of kidney and urology diseases has shifted the inclination of physicians towards use of highly advanced nephrology and urology devices that significantly reduce treatment and recovery time.
The major driving factor for this market is the growing aging population and prevalence of chronic kidney diseases. Innovation in urology devices and an increase in healthcare expenditure will also supplement the growth of this market. However, the high cost associated with these devices hinders the growth of this market. Growing awareness about benefits such as reduced treatment and recovery time among renal disease patients is fuelling the demand for nephrology and urology devices.
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Competitive AnalysisBaxter International, C.R.Bard, Fresenius Medical Care, Nikkiso Co. Ltd, Dornier Medtech is some major key players in this market. Product launch, merger and acquisition, and research and development are the competitive strategies adopted by these players. In Sep 2013, Baxter acquired Gambro, a medical device company. This acquisition expands Baxter’s dialysis product portfolio and its geographic presence in the dialysis business.
HIGH-LEVEL ANALYSIS Porter’s Five Forces model reveals that the bargaining power of suppliers is high as suppliers are producing highly differentiated products. High switching cost for these differentiated products lowers the bargaining power of buyers. However, high initial investment is required to startup these device-manufacturing units. This leads to a minimal threat from new entrants. The market is highly fragmented and a number of players are coming up with new innovative products, which intensify the competition in the market. Key players and their strategies are identified and analyzed to develop a market entry and expansion strategy. Driving and limiting factors affecting the growth of nephrology and urology devices market are discussed in the report.
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