FELTON, California, March 18, 2019 /PRNewswire/ -- The global Urinalysis Market size is expected to value at USD 2.14 billion by 2022. The market is subject to witness a substantial growth due to the presence of large base of the target population and increasing demand for urinalysis because of unmet clinical needs in the under-developed regions across
Urinalysis plays a vital role as a diagnostic tool for the analysis and management of target diseases such as urinary tract infection (UTI) disorders, kidney diseases, and diabetes. These factors are expected to drive market demand for urinalysis in the upcoming years. Globally, the urinalysis market is predicted to grow at CAGR of 7.5% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
Growing prevalence of the target diseases such as urinary tract infection (UTI) disorders, kidney diseases, and diabetes, is considered as one of the prominent factor responsible for market growth, in the recent years. Moreover, the changing lifestyle and varying food are expected to fuel demand for urinalysis across the globe in the upcoming years. However, complete absence of adequate healthcare infrastructure in the underdeveloped economies worldwide is anticipated to limit market progress to a certain extent.
Additionally, lack of availability of the latest diagnostic tools in the developing economies across the globe is significantly hampering market growth. Yet, development of advanced and cost-effective technique to carry out fast and highly precise diagnosis along with easy to use solutions for catering to the unmet clinical needs in the developing as well as underdeveloped economies are estimated to drive market growth in the upcoming years.
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The urinalysis market is broadly divided into two major typed based on product types such as instruments urinalysis and consumables. The instruments urinalysis industry segment is further categorized into automated bio-chemical urine analyzer, semi-automated bio-chemical urine analyzer, urine sediment analyzer, and microscopic urine analyzer. The recent technological advancements in the instrument market segment coupled with development of novel products such as urine sediment analyzer, and microscopic urine analyzer are estimated to drive market growth over the forecast period.
Additionally, introduction of fully automated urine strip readers and automated urine sediment analyzers like Uri-Sed mini and Uri-Sed two with the help of ElektronikaKft is considered as one of the prominent factors driving the growth of instruments market segments over the forecast period. Increasing adoption of wireless technology for communication purposes coupled with development of miniaturized PoC urinalysis instruments are further expected to advance market growth in the upcoming years.
Growing usage of technologically advanced, fast-acting, non-invasive, and easy to use tools for urinalysis are projected to stimulate market expansion of urinalysis industry in the near future. One of the most common applications of the urinalysis is the diagnosis of urinary tract infection (UTI) due to the increasing occurrence of hospital-acquired urinary tract infections, especially in females across the globe. The urinalysis is highly efficient and cost effective diagnosis methodology for urinary tract infection (UTI), thereby driving demand from both developed and developing economies across the globe.
The urinalysis market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in medicine & pharmaceutical sector, development of the automated urine sediment analyzers like digital flow morphology and fluorescence flow cytometry, and existence of well-established infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the urinalysis industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing penetration rate of advanced urine analyzers, rising healthcare expenditure and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the urinalysis market are Alere Incorporations, Arkray Incorporations, Bio-Rad Laboratories, Inc., Mindray Medical International Ltd., Roche Diagnostics GmbH, Siemens Healthcare S.A.,Beckman Coulter Inc., and Sysmex Corporations.
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