Growth Drivers
Less Procedural and Recovery Time Required for Laser Surgeries - The time taken for lithotripsy and ureteroscopy with the help of lasers is estimated to be short, which is expected to drive the demand for nephrology lasers in the forecasted period. According to estimates, the time taken to perform an upper endoscopy is only 30 to 40 minutes.
Rising Prevalence of Chronic Kidney Disease (CKD) - According to estimates, in 2019, the prevalence of CKD was more than 13% around the globe.
Upsurge in the Demand for Minimally Invasive Surgeries – According to the International Society of Aesthetics Plastic Surgeries (ISAPS), in the year 2020, a total of 10,129,528 aesthetic surgical procedures were performed worldwide.
Growing Geriatric Population - According to the United Nations World Population Prospects 2019, 1 in 11 people in the world are over the age of 65 in the year 2019. It will become 1 in 6 people by 2050.
Increasing Cases of Diabetes - The Centers for Disease Control and Prevention revealed the latest data from the National Diabetes Statistics Report 2022, according to which more than 37 million people were suffering from diabetes in the United States in 2020.
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
11.7% |
Base Year Market Size (2023) |
USD 6.7 Billion |
Forecast Year Market Size (2036) |
USD 28.23 Billion |
Regional Scope |
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Author Credits: Radhika Pawar
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