Albany, NY -- (SBWIRE) -- 01/30/2015 -- A recent report published by Transparency Market Research (TMR) indicates that the worldwide nephrology and urology devices market will grow at a CAGR of 6.4% between the years 2012 and 2018. TMR, a market intelligence firm based in the United States, in its report says that the global nephrology and urology devices market will grow from US$13.3 billion in 2011 to US$20.5 billion by 2018. The report is titled 'Nephrology and Urology Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012-2018'.

The market research report states that the global nephrology and urology devices market is fueled by a growing geriatric population and rising incidences of chronic kidney diseases (CKD). Nephrology and urology devices are essentially used for treating problems related to the urinary system and kidneys. These disorders includeend-stage renal disease (ESRD), urinary incontinence, pelvic organ prolapse, benign prostatic hyperplasia (BPH), kidney stone, and chronic kidney diseases (CKD).

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The reason behind a large population suffering from diabetes, ESRD, and CKD is inadequate awareness of the factors leading to kidney failure and urinary anomalies. A common factor for various urology diseases is aging. As per market forecasts, it is anticipated that a major section of the population will undergo treatment for kidney diseases in the forthcoming years, which will resultantly drive the demand for nephrology and urology devices across the globe.

The TMR report segments the global nephrology and urology devices market on the basis of type of device and geography. Based on device type, the nephrology and urology devices market is broadly categorized into devices for dialysis, urinary stone treatment, urinary incontinence and pelvic organ prolapse treatment, benign prostatic hyperplasia, and endoscopy. In 2011, the segment for dialysis devices held the largest share of the global market for nephrology and urology devices. However, it is expected that the segment for BHP devices will witness robust growth during the forecast period.

As per the inferences of the U.S. National Institute of Diabetes and Digestive and Kidney Diseases, there are greater than two million people in the U.S. diagnosed with kidney stones. Improved economic conditions in countries such as Australia, India, and China will ensure that these countries are in a better position to invest funds for enhanced healthcare infrastructure and technologies.

According to the research report, geographically, the global nephrology and urology devices market is categorized into Asia Pacific, Europe, North America, and Rest of the World. Greater spending on healthcare has led to revamping of the lithotripters market in Asia Pacific and other developing regions of the world. This as a result is also driving consumers in North America and Europe to refurbish their hospitals and clinics with innovative and advanced technologies. Several hospitals and various healthcare providers these days are investing significantly in advanced healthcare devices and technologies. This can be attributed to the growing medical tourism industry in countries in the Middle East and Asia.

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The prominent players operating in the global nephrology and urology devices market include B Braun Group, Terumo Corporation, Nikkiso Co. Ltd., Dornier Medtech, and Asahi Kasei Corp.

About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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