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High Growth Potential in Emerging Economies For Key Players In Creatinine Measurement Market

The global creatinine measurement market is expected to reach USD 564.5 million by 2023 from USD 377.2 million in 2018, at a CAGR of 8.4%. Increasing incidence of renal disorders, growing incidence of other chronic disorders impacting renal function, rising awareness and adoption of preventive healthcare approaches, implementation of favorable government initiatives to promote renal health, rapid growth in the geriatric population, and increasing number of drug development initiatives are driving the growth of the global creatinine measurement market.

Agreements, acquisitions, and expansions accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include F. Hoffmann-La Roche (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), and Thermo Fisher Scientific (US).

The creatinine measurement market is highly fragmented in nature with many big and small players. F. Hoffmann-La Roche was the leading player in the creatinine measurement market in 2017. The dominant share of this company is attributed to its exhaustive product portfolio and strong global reach, especially in the emerging economies. For maintaining its market position, the company mainly focuses on investments toward R&D activities to fuel innovation. The company invested USD 10.18 billion (19.5% of total sales) on R&D activities in 2017. With its strong R&D capabilities and state-of-the-art asset quality, the company is also expected to grow during the forecast period. The company also engages in partnerships with other prominent market players to enhance its presence in the market, for example Roche renewed their agreement with Hitachi to jointly develop and manufacture immunochemistry and chemistry work platforms. The company also focuses on increasing its presence in emerging markets such as the APAC and the Middle East markets.

Danaher is one of the major players in the creatinine measurement market. The company has a strong brand name in high-growth geographies and a growing presence in the emerging markets. The company has a strong focus on research and development and spent USD 1,128.8 million on R&D in 2017. The company has a vast geographic presence in over 60 countries. Beckman Coulter (Danaher’s parent company) provides customer sales support in remote locations through its PROService Remote Diagnostics. Beckman Coulter also organizes webinars and instructor-led classes to help their customers develop the skills and techniques required to make the most effective use of their products. The company also attends and organizes various conferences and trade shows to showcase their products to increase visibility. The company opened an R&D center in China to develop instruments and assays for customers in the region, thus showcasing its expansion strategies. In the coming years, China and India are expected to offer significant growth opportunities for the company.

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