(PharmaNewsWire.Com, August 14, 2020 ) According to the new market research 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" published by MarketsandMarkets™
The Global Kidney Function Test Market is expected to reach USD 790.1 Million, growing at a CAGR of 6.1% during the forecast period.
Major Market Growth Drivers:
- Rising Prevalence of Kidney Disease - Growing Prevalence of Diabetes and Hypertension - Rapid Growth in Geriatric Population - Rise in Consumption of Alcohol
Target Audience:
- Kidney function test product manufacturers and distributors - Healthcare institutions (hospitals, academic medical centers, and outpatient clinics) - Diagnostic laboratories - Health insurance players - Research and consulting firms
The dipsticks segment is expected to dominate the Kidney Function Test Market.
By product, the market is categorized into dipsticks, reagents, and disposables. Dipsticks are expected to account for the largest share of the market, they are also expected to grow at the highest CAGR during the forecast period. The large share and high growth rate of this segment can be attributed to factors such as the cost-effectiveness of dipstick testing and its widespread applications across specializations.
The urine tests segment is expected to account for the largest share of the Renal Function Test Market.
Based on type, the market is segmented into urine and blood tests. Urine tests are further categorized into urine protein, creatinine clearance, and microalbumin. Similarly, blood tests are categorized into serum creatinine, glomerular filtration rate (GFR), and blood urea nitrogen (BUN).
The urine tests segment is expected to account for the largest share of the market. This segment is also expected to grow at the highest CAGR during the forecast period. Factors contributing to the large share and high growth rate of this segment include increasing usage of urine dipsticks analysis, the ease in sample collection technique compared to blood samples, and this method also has a very limited risk of infection.
North America is expected to account for the largest share of the global kidney function/renal function test market. The large share of the North American market is attributed to 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 treatment of kidney diseases.
Major Key Players Mapped in Research Report:
The prominent players in the global kidney function/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).
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