USD 1.17 billion
Report ID:
SQMIG35A2633 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
77
Nephrostomy Device Market size was valued at USD 1.37 Billion in 2023 and is poised to grow from USD 1.49 Billion in 2024 to USD 2.9 Billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).
The nephrostomy devices market is being driven by various factors such as the growing prevalence of kidney stone disorder, a rising demand for minimally invasive surgical procedures, and increased awareness about these devices.
According to a study published in the National Center for Biotechnology Information (NCBI), urolithiasis affects approximately 12% of the global population. Additionally, the American Cancer Society predicts that there will be around 81,800 new cases of kidney cancer in the United States in 2023, further highlighting the high prevalence of kidney diseases.
The increasing incidence of kidney diseases, including cancer, creates a greater demand for nephrostomy devices. Individuals with cancer may require a nephrostomy if there is a blockage in their urinary system. This drives the market growth as the need for these devices increases. The demand for minimally invasive surgeries (MIS) is another significant factor contributing to the market's growth.
Compared to open surgery, minimally invasive surgery offers numerous advantages, such as shorter hospital stays, reduced blood loss, lower postoperative complications, less operative pain, improved cosmetic outcomes, and equivalent oncological results. These benefits drive the demand for nephrostomy devices, as they are commonly used in MIS procedures.
While the market has positive growth prospects, there are some challenges that may hinder its progress. Alternative procedures and the associated risks related to nephrostomy present potential obstacles to market growth. It is important to consider these factors when evaluating the overall market dynamics.
US Nephrostomy Device Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.17 billion
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
8.6% CAGR
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The global nephrostomy device market is segmented on the product, end-use and region. By product, the market is segmented into guidewires, drainage tubes, nephrostomy catheters, sheath dilators. By end use, the market is segmented into hospitals, emergency clinics, ambulatory centers (ASCs). By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Nephrostomy Device Market Analysis by Product
The dominant segment in the global nephrostomy devices market is the guidewires segment. This is due to the increasing use of guidewires in percutaneous nephrolithotomy (PCNL) procedures. It is a minimally invasive procedure used to remove kidney stones. Guidewires are used to guide the nephroscope, a small camera that is inserted into the kidney, to the site of the kidney stone.
The fastest growing segment in the global nephrostomy devices market is the nephrostomy catheters segment. This is due to the increasing use of nephrostomy catheters in the treatment of kidney infections and other conditions that require drainage of the kidney. Nephrostomy catheters are small tubes that are inserted into the kidney to drain urine.
Nephrostomy Device Market Analysis by End Use
The hospitals segment is the largest end-user of nephrostomy devices, accounting for a share of over 60% in 2022. This is due to the fact that hospitals are the primary settings for the diagnosis and treatment of kidney stones and other urological conditions.
The fastest CAGR is likely to be seen in ambulatory surgical centers (ASCs), as they provide more individualized care. Additionally, the better results compared to hospitals and other healthcare settings are another factor propelling the industry. The segment growth is further aided by the fact that ASCs have half as many infection risks during surgery as hospitals do. Additionally, since ASCs are not challenged with treating a variety of illnesses and disorders, they can guarantee that patients receive personalized care and an improved patient experience.
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North America has been the leading market in the past and is projected to continue witnessing substantial growth in the future. This can be attributed to favorable reimbursement policies, growing awareness about these products, the presence of highly skilled physicians, and well-established healthcare facilities in the region. Additionally, the region's quick adoption of technologically advanced medical products is expected to drive market growth. Increased government funding for research and development activities related to surgical devices and procedures is also positively impacting the market in North America.
Asia Pacific is anticipated to achieve growth rate (CAGR) from 2019 to 2026. This growth can be attributed to the rising prevalence of kidney disorders, positive government initiatives, and awareness programs conducted by non-governmental organizations (NGOs) to educate the population about these products. The presence of numerous key companies in China and India also contributes to market growth in the region. Furthermore, the rapidly expanding medical tourism market in emerging economies of Asia Pacific is expected to drive the demand for ambulatory surgical centers, thereby fostering market growth
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Nephrostomy Device Market Drivers
Technological Advancements
Nephrostomy Device Market Restraints
High Cost of Devices
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The competitive landscape of the nephrostomy devices market encompasses various details about individual competitors operating within the market. These details include company overviews, financial information, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites and facilities, production capacities, strengths and weaknesses of the company, product launches, product range, and dominant applications. It is important to note that these data points specifically pertain to the companies' activities and focus within the nephrostomy devices market.
Nephrostomy Device Market Top Player’s Company Profiles
Nephrostomy Device Market Recent Developments
Increasing Preference for Disposable Devices
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the nephrostomy devices market has been experiencing steady growth and is expected to continue growing in the coming years. Factors such as the rising prevalence of kidney disorders, increasing geriatric population, and advancements in healthcare infrastructure contribute to market growth. Additionally, the growing demand for minimally invasive procedures and the preference for nephrostomy over more invasive surgical interventions further drive market expansion. The nephrostomy devices market presents opportunities for growth due to increasing incidences of kidney disorders, technological advancements, and the rising demand for minimally invasive procedures. However, addressing challenges and ensuring cost-effectiveness, accessibility, and patient safety will be crucial for sustained market growth.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.27 billion |
Market size value in 2031 | USD 2.67 billion |
Growth Rate | 8.6% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Nephrostomy Device Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nephrostomy Device Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nephrostomy Device Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nephrostomy Device Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2633
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