The Growth in Kidney/Renal Function Test Market can primarily be attributed to factors such as the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, and the rise in alcohol consumption are driving the growth of the market.
Expected Revenue Surge: The Global Kidney Function Test Market expected to reach USD 790.1 Million, growing at a CAGR of 6.1% during the forecast period.
Objectives of the Study:
- 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
- To profile the key players and comprehensively analyze their product portfolios, market shares, and core competencies in the global kidney/ renal function test market
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Market Segmentation in Detailed:
By product; the Kidney Function Test 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.
Based on Type, the Renal Function Test 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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Geographically; 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).