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GlobalData, a provider of business information and analytics, released its latest report on the Nephrology and Urology devices market. The report highlights that the burst in diabetes and hypertension combined with aging populations is driving investment to meet patient needs. Leading companies in the field-primarily from Europe and North America-have invested more than $42 billion in mergers and acquisitions and almost $15 billion in capital raisings over the last three years.
The incontinence devices category is expected to show the quickest growth rate with a compound annual growth rate (CAGR) of 4.7% between 2016 and 2023, closely followed by the renal dialysis equipment category with a CAGR of 4.4% for the same period.
In 2016, renal dialysis equipment accounted for over 55% of the market value-at over $17 billion-and is expected to rise to over $26 billion by 2026.
According to GlobalData’s researchers, almost 60% of renal dialysis patient growth will be driven by the emerging markets of China, Brazil, and India-which will account for 48% of the dialysis population by 2026.