According to a 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 to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 790.1 Million by 2022 from an estimated USD 586.5 Million in 2017, at a CAGR of 6.1%.
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The key factors driving the growth of this market include the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, increasing geriatric population, and rise in alcohol consumption.
By product, the dipsticks segment is expected to dominate the market in 2017
By product, the market is categorized into dipsticks, reagents, and disposables. Dipsticks are expected to account for the largest share of the market in 2017; 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.
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By type, the urine tests segment is expected to account for the largest share of the market in 2017
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).
In 2017, 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.
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North America to dominate the market in 2017
North America is expected to account for the largest share of the global Kidney /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 /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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