Urinalysis stands for urine analysis. It refers to a series of tests to examine urine for the presence of disease, drugs, or other substances. These physical and chemical tests are done under microscopic environment and are frequently used to detect conditions such as urinary tract infections, kidney disorders, liver problems, diabetes, and other metabolic disorders. In patients who are diagnosed with acute or chronic conditions, urinalysis tests are frequently used in addition to other tests to follow the treatment.
According to a study by Transparency Market Research, the global market for urinalysis stood at US$929.9 mn in 2015, and rising at a significant CAGR of 5.4% from 2016 to 2024, it is estimated to value US$1.5 bn by 2024.
Browse Full Press Release: http://www.transparencymarketresearch.com/pressrelease/urinalysis-market.htm
What factors are driving the market for urinalysis?
An exponential rise in the prevalence of diabetes among the global population and increasing number of geriatrics are two of the primary factors that are necessitating urinalysis globally. As per a report by the International Diabetes Federation (IDF), an estimated 338 million new cases of diabetes were reported in 2014 while nearly 3.2 million people were diagnosed with ESRD in 2015. These tall numbers of diabetic cases along with growing incidences of renal diseases and other kidney related disorders are opening an opportunity for players in the market for urinalysis.
Moreover, rising geriatric population that is more prone to kidney diseases, especially in the regions of North America and Asia Pacific, are further fueling the demand for urinalysis. According to the National Kidney Foundation, an estimated 26 million people in the U.S. are living with kidney disease while TMR reports that North America accounted for 30% of the global market in 2015. North America already has a robust healthcare infrastructure while governments in Asia Pacific countries such as China and India are actively investing in improving the healthcare sector. This factor also augurs very well for the future of the urinalysis market.
Download exclusive Sample of this report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4334
Which segments of the urinalysis market are poised to hold opportunities in the near future and why?
The frequent use of reagent strips (dipsticks) is primarily responsible for the growth of biochemical segment of the test type. The biochemical segment held a significant share in the overall urinalysis market in 2015 as per the TMR report. Dipstick is a biochemical technique to detect components present in urine. Since this technique is easy to follow and is readily available, the market for this segment remains robust. Hospitals, both government and private, are the leading end-users of this segment.
On the basis of test setting, the laboratory-based urinalysis segment led the global market in 2015 and is projected to experience significant growth in the near future. This rise in demand for laboratory-based urinalysis tests is a result of increasing prevalence of infectious diseases in developing countries such as China, Brazil, and India. Moreover, the growing incidence of lifestyle diseases and various technological advancements that are making these tests faster and developing easy-to-use devices are driving the demand for laboratory-based urinalysis.
With very few reliable and cost-efficient alternatives available, the demand for urinalysis is expected to sustain at the global level.
Transparency Market Research
90 State Street,
NY – 12207
USA – Canada Toll Free 866-552-3453