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(Health-NewsWire.Net, April 29, 2021 ) The report "Kidney/Renal Function Test Market by Product (Dipsticks, Reagents, Disposables), Type (Urine Test (Urine Protein, Microalbumin, Creatinine Clearance), Blood Test (Serum Creatinine, BUN)), End User -Global Forecast", the global Renal Function Test Market is expected to reach USD 790.1 Million, at a CAGR of 6.1%.
What Drives the Market Growth?
The 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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Market Segmentation in Detailed:
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 in 2017 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.
Based on type, the market is segmented into urine tests and blood tests. Urine tests are further categorized into urine protein, creatinine clearance, and microalbumin tests. Similarly, blood tests are categorized into serum creatinine, glomerular filtration rate (GFR), and blood urea nitrogen (BUN) tests. The urine tests segment is expected to hold the largest share of the market in 2017. This segment is also expected to grow at the highest CAGR during the forecast period. The large share and high growth rate of the urine test segment can be attributed to the increasing usage of urine dipsticks analysis, the ease in sample collection compared to blood tests that can cause discomfort and swelling, and very low risk of infection due to sample collection.
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.
Geographical View in-detailed:
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.
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Global Key Leaders:
The prominent players in the global kidney/renal function test market are Abbott (US), Siemens (Germany), Sysmex (Japan), Beckman Coulter (US), Roche (Switzerland), ACON Laboratories, Inc. (US), URIT Medical (China), Nova Biomedical (US), ARKRAY (Japan), OPTI Medical (US), 77 Elektronika (Hungary), and Randox Laboratories (UK).
Few of the instances of the strategies followed by the players have been discussed below:
- In February 2017, ARKRAY (Japan) launched the Uriflet S 11UA-the urine strip measure 11 qualitative test, including albumin/creatinine ratio and protein/creatinine ratio.
- In September 2016, Nova Biomedical (US) opened a new subsidiary in Brazil. With this expansion, the company aims to provide sale and service support to its customers in the country.
- In February 2016, Abbott (US) acquired Alere (US) to strengthen and expand its diagnostics presence across the globe.
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Mr. Aashish Mehra
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