Global Nephrology and Urology Devices Market - 2022-2029

Global Nephrology and Urology Devices Market - 2022-2029

Market Overview

The global Nephrology and Urology Devices market was valued at US$ 5,015.63 million in 2021 and is estimated to reach US$ 15,947.92 million by 2029, growing at a CAGR of 15.68% during the forecast period (2022-2029).

Stem cells are undifferentiated cells that can self-renew indefinitely through cell division. These cells can also be distinguished into more mature cells with specific functions. Currently, stem cells are used to treat more than 80 nasty diseases. Nephrology and Urology Devices is collecting, extracting and storing by cryogenically freezing the stem cells and other immune system cells for potential future medical use.

Market Dynamics

The increasing demand for these diagnostic products is due to the growing awareness of the therapeutic potential of stem cells. Other factors aiding the market growth are the advancements in novel technologies and increasing research and development expenditure. All these factors are expected to drive market growth.

The increasing number of novel product launches and the rising research and development will drive market growth.

The global market for Nephrology and Urology Devices is primarily driven by the growing awareness of the therapeutic potential of stem cells. Other factors aiding the market growth are advancements in novel stem cell preservation, processing, and storage technologies. The rise in hematopoietic stem cell transplantation procedures and increasing investments in stem cell-based research further propel Nephrology and Urology Devices. Emerging countries, the rising global burden of major diseases, the large number of newborns, the growth in GDP growth, and disposable income act as market opportunities for key players. For instance, in Sep 2021, LifeCell, a stem cell bank and provider of diagnostic solutions, announced that its novel therapy, Mesocel, got approved for a clinical trial from DGCI, the Drug Controller General of India, for COVID-19 treatment. Mesocel is extracted from mesenchymal stem cells derived from the donated umbilical cord tissue. This can now be used to treat patients with life-threatening COVID-19 pneumonia or acute respiratory distress. The clinical trial will be conducted in 2 phases.

Various funding, novel technological advancements, and the number of the latest, innovative product launches are increasing, leading to the high demand for these Nephrology and Urology Devices. For instance, in Mar 2021, LifeCell, a Nephrology and Urology Devices company, launched StemMatch, a first-of-its-kind service for the banking members community as it gives information on the accurate quality and number of stem cell units that are matching available within the LifeCell registry.

The high therapy and operational costs associated with Nephrology and Urology Devices will hamper the market’s growth.

However, the high operational costs of Nephrology and Urology Devices and legal and ethical issues during the collection of stem cells, along with stringent regulatory frameworks and lack of acceptance and awareness, may hinder the market progress. The high cost of these stem cell therapies is hindering the market growth. According to DVC Stem, an innovative clinic of stem cell therapy, its mesenchymal stem cell (MSC) protocol that is IRB approved costs around US$25,000.

COVID-19 Impact Analysis

The pandemic has negatively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely impacted the healthcare industry. The Nephrology and Urology Devices market has experienced huge losses due to COVID, as all the research and clinical trials got affected due to the diversion of attention toward COVID. But now, the market participants are changing their long-term and short-term growth strategies by utilizing the research market and creating cutting-edge items to combat the pandemic. Various initiatives, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in Aug 2022, StemCyte, a company manufacturing cord blood regenerative therapeutic, announced that Post-COVID Syndrome’s Phase II clinical trial with the help of umbilical cord blood stem cell therapy got approved by U.S. Food and Drug Administration.

Segment Analysis

The umbilical cord-derived stem cells segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The umbilical cord-derived stem cells (UCSTs) segment is the highest market holder in the global Nephrology and Urology Devices market. Cord Blood is affluent in stem cells. Stem cells are developed in the bone marrow and differentiate into different blood cells, which are important in various therapies related to blood disorders, such as sickle cell disease. Umbilical cord blood can be used for gene therapy or transplantation as it’s a hematopoietic stem cell Type. Umbilical cord-derived mesenchymal stem cells can be used for inflammatory and immune disease therapy. These can be promising active substances for therapeutic product development as they have a few issues related to safety, availability and ethics.

Umbilical cord-derived stem cells dominate the market due to the rising birth rate and global chronic disease cases. According to the Centre for Disease Control and Prevention, in 2021, approximately 3,659,289 newborn cases were reported in the United States. The rising number of people suffering from blood-related disorders, regulatory approvals and growing technological advancements or research/clinical trial studies drive the market’s growth. For instance, in May 2021, Cordlife Group Limited, 1st private cord blood bank in Singapore, entered into a partnership with SingHealth Duke-NUS Academic Medical Centre to test new technology that can increase blood-forming stem cells in number from stored umbilical cord blood that is stored in the first-in-man study in Singapore.

Geographical Analysis

North America holds the largest market share of the global Nephrology and Urology Devices market.

North America dominates the global Nephrology and Urology Devices market, primarily attributed to the rising prevalence of chronic ailments such as leukemia, thalassemia, diabetes, autism and many more due to changing environments worldwide, established healthcare infrastructure, and higher investment in R&D activities contribute to North America’s rapid share growth. Moreover, its broad base patient population also contributes to the growth of its share. According to the American Cancer Society, in 2022, Around 60.650 estimated novel leukemia cases will occur, out of which 24,000 deaths will occur in the United States.

Moreover, the growing number of product launches is responsible for the market’s growth. Other factors, such as the high spending of GDP on healthcare, stimulate the market’s growth. Many key developments, technological advancements, collaborations and agreements are taking place in this region. For instance, in Feb 2021, American CryoStem Corporation, a biotechnology company at the clinical stage working on autologous cellular therapies, announced its agreement with BioTherapeutics Labs Corp., a company manufacturing umbilical cord tissues that’s also FDA-registered.

Competitive Landscape

The Nephrology and Urology Devices market is highly competitive with local and global companies’ presence. Medtronic Plc, Baxter International, Inc., Asahi Kasei Corporation, B.Braun Group, Boston Scientific Corporation, Coloplast AS, Dornier MedTech, Terumo Corporation, Fresenius Medical Care, Nipro Corporation and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in May 2022, Medtronic announced the data that shows the advantages of simple blood pressure procedures of symplicity spyral renal denervation system for achieving a targeted range of levels of blood pressure.

Medtronic Plc:

Overview:

Medtronic is engaged in the discovery, development, manufacture, and sale of a wide range of pharmaceutical and generic medicines. The Company has two operating divisions. It focuses on hematology, immunology, neuroscience, ophthalmology, cardiovascular, respiratory & allergy, and solid tumors. It was established in 1949 and is headquartered in Dublin, Ireland.

Product Portfolio:

MaxCell: MaxCell is StemCyte’s proprietary processing method that retains the stem cells in higher volume. It preserves more total nucleated cells than other standard processing procedures, improving engraftment chances.

Key Development: In May 2022, Medtronic and DaVita Inc. announced their intention to make a novel, independent medical device company that will focus on kidney care to increase the treatment experience of patients.

The global Nephrology and Urology Devices market report would provide access to approximately 40+ market data tables, 45+ figures, and 200 (approximate) pages.