The report predicts the global Kidney-Renal Function Test Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“Kidney Function/Renal Function market is projected to grow at a CAGR of 6.1%.”
The global kidney function tests market is expected to reach USD 790.1 million by 2031 from USD 586.5 million in 2022 at a CAGR of 6.1% during the forecast period. Factors such as the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, increasing geriatric population, and the rise in alcohol consumption are driving the growth of this market. On the other hand, unfavorable healthcare reforms in key markets are expected to restrict market growth to a certain extent.
“The dipsticks segment is expected to hold the largest share of the market in 2017.”
On the basis of product, the kidney function tests market is segmented into dipsticks, reagents, and disposables. The dipsticks segment is expected to account for the largest share of the market in 2017. The large share and high-growth rate of this product segment can be attributed to the cost-effectiveness of dipstick testing and its widespread application in healthcare.
“The urine tests segment is projected to grow at the highest CAGR during the forecast period.”
By type, the market is segmented into urine and blood tests. In 2017, the urine tests segment is expected to account for the largest share of the kidney function tests market. The increasing usage of urine dipsticks analysis, the ease in sample collection technique compared to blood tests and the limited risk of infection during sample collection are factors driving the growth of this segment.
“Asia Pacific to witness the highest growth during the forecast period.”
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2022-2031. Factors such as the region’s rising geriatric population, increasing incidence of non-communicable diseases, and the growing number of conferences and campaigns to create awareness regarding kidney diseases are key factors driving market growth.
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Break of primary participants was as mentioned below:
- By Company Type: Tier I: 55%, Tier II: 25%, Tier III: 20%
- By Designation: C-Level Executives: 43%, Directors: 32%, Others: 25%
- By Region: North America: 38%, Europe: 23%, Asia Pacific : 29%, RoW: 10%
In 2017, Siemens (Germany), Beckman Coulter (US), Sysmex (Japan), Roche (Switzerland), and Abbott (US) are the key players in the kidney function test market.
The report provides a picture of the market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as by product, type, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps the firms to garner a greater share of the concerned market. Firms purchasing the report could use any one or a combination of the below-mentioned strategies for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the kidney function test market. The report analyzes the market by type, product, and end user.
- Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, product approvals, and product launches in the kidney function test market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various kidney function tests across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the kidney function test market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the kidney function test market
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