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(Health-NewsWire.Net, April 04, 2020 ) [126 Pages Report] The global kidney function test market expected to reach USD 790.1 Million, growing at a CAGR of 6.1% during the forecast period.
Growth in the kidney function test market can primarily be attributed to factors such as the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, rapid growth in the geriatric population, and the rise in alcohol consumption are driving the growth of the market.
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Objectives of the Study:
- To define, describe, segment, and forecast the global kidney function test market by product, type, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To profile the key players and comprehensively analyze their product portfolios, market shares, and core competencies in the global kidney function test market
Industry Segmentation:
Based on product, the market is categorized into dipsticks, reagents, and disposables. The dipsticks segment is expected to account for the largest share of the market and is also estimated to grow at the highest CAGR during the forecast period. Factors contributing to the large share of the market include the cost-effectiveness of dipstick testing, which also accounts for its widespread application across the globe.
On the basis of end users, the market is segmented into hospitals, diagnostics laboratory, and research laboratories & institutes. The hospitals segment is the largest and fastest growing segment of the market. Factors contributing to the large share and high growth rate of this segment include the increasing number of awareness campaigns about kidney function tests and the growing focus of emerging economies on increasing the number of hospitals in these regions.
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North America is estimated to account for the largest share of the market, followed by Europe. This large share can be attributed to factors such as the increasing incidence of chronic diseases, rising prevalence of hypertension, growing incidence of diabetes in the US, and increasing initiatives by the Canadian government for the awareness and treatment of kidney diseases. However, the Asia Pacific region is expected to register the highest CAGR during the forecast period.
The prominent players in the global kidney function/renal function test market are Siemens (Germany), Beckman Coulter (US), Sysmex (Japan), Roche (Switzerland), Abbott(US), Nova Biomedical (US), URIT Medical (China), ARKRAY (Japan), OPTI Medical (US), ACON Laboratories (US), 77 Elektronika (Hungary), and Randox Laboratories (UK).
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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