Research Methodology Followed for This Study:
The study estimates the market size for 2017 and projects its demand till 2022. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include physicians/doctors, healthcare professionals, clinical laboratory executives, lab managers, laboratory assistants, and biochemistry consultants.
For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the creatinine assay kits market as well as to estimate the market size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report. Secondary sources such as directories; databases such as D&B, Bloomberg Business, and Factiva; white papers; annual reports; company house documents; investor presentations; and SEC filings of companies were referred.
Expected Revenue Surge:
The global creatinine assay kits market is expected to reach USD 245.4 Million by 2022 from USD 189.6 Million in 2017, at a CAGR of 5.3%.
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Major Growth Boosters:
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 advancements in biomedical research pertaining to kidney disorders are the key drivers of the global creatinine assay kits market.
Target Audience for this Report:
# Creatinine assay kit manufacturers
# Creatinine assay kit distributors
# Research and consulting firms
# Venture capitalists
# Regulatory bodies
# Academic centers
# Teaching hospitals and academic medical centers (AMCs)|
# Contract manufacturing organizations (CMOs)
# Contract research organizations (CROs)
In 2017, North America dominated the creatinine assay kits market
In 2017, North America dominated the market followed by Europe. The large share of North America is attributed to factors such as increasing incidence of renal disorders, rising prevalence of other chronic disorders like hypertension and diabetes (which can lead to renal dysfunction), and the implementation of favorable government initiatives to increase awareness of and encourage research pertaining to kidney diseases.
Based on type of sample, the market is segmented into blood/serum, urine, and other samples. The urine samples segment accounted for the largest share of the market in 2017, owing to ease of sample availability and non-invasive method of sample collection. The blood/serum segment is expected to witness the fastest growth over the forecast period, as it ensures greater result accuracy.
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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 Thermo Fisher Scientific (US), Merck (Germany), Abcam (UK), Abbott Laboratories (US), and Cayman Chemical (US).