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(Health-NewsWire.Net, April 26, 2020 ) The increasing incidence of renal disorders, growing incidence of other chronic disorders impacting renal function, growing awareness and adoption of preventive healthcare approaches, implementation of favorable government initiatives to promote renal health, rising geriatric population, and increasing number of drug development initiatives are the key drivers for global creatinine measurement market.
How much is the Creatinine Measurement market worth?
MarketsandMarkets forecasts the Creatinine Measurement Market USD 8.60 billion by 2023 from the estimated USD 6.27 billion in 2018, at a CAGR of 6.5% during the forecast period. The global Creatinine Measurement market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of this market majorly due to the increasing incidence of renal disorders, rising prevalence of other chronic disorders like hypertension and diabetes
The Jaffe’s kinetic method segment is expected to hold the largest in the market in 2018
The Creatinine Test Kits and Reagents Market, by test type, is segmented into the Jaffe’s kinetic method and enzymatic method. In 2018, the Jaffe’s kinetic method segment is expected to hold the largest share of the creatinine measurement market. The widespread availability and cost-effectiveness of kits and reagents used in Jaffe’s kinetic method is a key factor driving the growth of this market.
Based on the type of sample, the blood/serum segment is expected to register the highest CAGR during the forecast period
Based on type of sample the creatinine measurement market is segmented into blood/serum and urine samples. The blood/serum segment is expected to witness the highest CAGR over the forecast period. Most creatinine measurement kits and reagents are based on the analysis of creatinine in blood samples owing to its accuracy in inferring creatinine concentration and low risk of contamination. These benefits are responsible for the increasing adoption of the blood/serum sample for the measurement of creatinine levels.
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Based on end user, the hospitals segment is expected to account for the largest share of the Creatinine Test Kits and Reagents Market
Based on end user, the creatinine measurement market is segmented into hospitals and diagnostic laboratories. In 2018, the hospitals segment is expected to account for the largest share of the creatinine measurement owing to established infrastructures with an advanced diagnostic assembly for better diagnostic results within shorter time spans. The diagnostic laboratories segment is expected to witness the highest growth over the forecast period as various market players are entering into long-term collaborations with diagnostic laboratories in order to increase their presence in the creatinine measurement market.
North America to dominate the creatinine measurement market
In 2018, North America is expected to dominate the market followed by Europe. Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to factors such as the growing prevalence of CKD, rising awareness about preventive healthcare, improving healthcare infrastructure, and growing focus of market players on addressing the demands in several Asian countries. Also, as developed markets are reaching saturation levels, Asia is expected to become a hotspot for creatinine kits and reagents providers However, identification of novel renal dysfunction Biomarkers and frequently changing regulatory policies are expected to challenge market growth in the coming years.
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Who are the leading vendors operating in Creatinine Test Kits and Reagents Market?
Hoffmann-la Roche Ltd (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Siemens Healthineers (Germany), Randox Laboratories (UK), Pointe Scientific (US), Sentinel Ch. Spa. (Italy), Diasys Diagnostic Systems GmbH (Germany), Dialab GmbH (Vienna), Diazyme Laboratories (US), Wako Pure Chemical Industries, Ltd. (Japan), Ortho Clinical Diagnostics (US), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China).
Hoffmann-La Roche was the leading player in the creatinine measurement market in 2017. The dominant share of this company is attributed to its exhaustive product portfolio and strong global reach, especially in the emerging economies. For maintaining its market position, the company mainly focuses on investments toward R&D activities to fuel innovation. The company invested USD 10.18 billion (19.5% of total sales) on R&D activities in 2017.
The F. Hoffmann-La Roche mainly focuses on investments toward R&D activities to fuel innovation. The company invested USD 10.18 billion (19.5% of total sales) on R&D activities in 2017.
The Danaher has a strong focus on research and development and spent USD 1,128.8 million on R&D in 2017. The company has a vast geographic presence in over 60 countries.
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MarketsandMarkets™
Mr. Sanjay Gupta
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raviraj.tak@marketsandmarkets.com
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