(PharmaNewsWire.Com, October 22, 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™.
How the Market Growth looks like and Industry Segmentation?
The Global Kidney/Renal Function Test Market is expected to reach USD 790.1 Million, growing at a CAGR of 6.1% during the forecast period.
Based on product, the Kidney Function Test 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 Renal Function Test 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.
- 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
Growth Driver in Depth:
- Rising Prevalence of Kidney Disease - Growing Prevalence of Diabetes and Hypertension - Rapid Growth in Geriatric Population - Rise in Consumption of Alcohol
North America is expected to account for the largest share of the global 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.
The prominent players in the global kidney 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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