New York, October 07, 2021 – Reports and Data has published its latest report titled “ kidney function test market, By Product (Dipsticks, Reagents, Disposables), By Test Type (Urine Tests, Urine Protein Tests, Creatinine Clearance Tests, Micro albumin Tests, Urinalysis, Blood Tests, Serum Creatinine Tests, Others), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Diagnostic Laboratories, Research Laboratories & Institutes, Others), And Region – Global Forecast To 2028”
Growing incidence of type 2 diabetes and kidney disorders such as glomerulonephritis is one of the key factors driving market revenue growth
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According to Reports and Data, the global kidney function tests market size was USD 746 million in 2020 and is expected to reach USD 1.2 billion in 2028 and register a revenue CAGR of 6.1% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Revenue growth of the global kidney function tests market is primarily attributed to growing geriatric population, rising incidence of type 2 diabetes, growing inclination towards alcoholism, and increasing prevalence of obesity, hypertension, and other lifestyle-induced diseases. Increasing occurrence of kidney failures and diseases including kidney stones, acute renal failure, and glomerulonephritis, growing risk of Acute Kidney Injury (AKI) and Chronic Kidney Disease (CKD) among COVID-19 patients, rise in research & development activities for advanced kidney function tests and assays, and increasing initiatives by governments and healthcare organizations to raise awareness of kidney health and disorders are other factors creating lucrative growth opportunities for the global kidney function tests market.
Regulatory approvals for and commercialization of many kidney diagnostics and therapeutics over the past year have led to significant growth of the global market. For instance, in March 2020, the European Medicines Agency (EMA) granted approval to the new PD-L1 Inhibitor – which is co-developed by Pfizer Inc. and Merck – indicated for the treatment of patients with renal cell carcinoma (RCC).
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Urine Tests Segment to Account for Fastest Revenue CAGR:
Based on test type, the urine tests segment is projected to register the fastest revenue growth rate over the forecast period owing to many favorable factors. Increasing prevalence of urinary tract infections (UTIs), kidney stones, diabetes, and high blood pressure, rising volumes of urine tests, and development of point-of-care kidney disease diagnostics are among the principal factors boosting growth of this segment.
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Hospitals Segment Dominated Other End-use Segments in 2020:
Based on end-use, the hospitals segment accounted for the largest revenue share in 2020. Growth of this segment is mainly attributed to rising prevalence of chronic kidney disease, growing rate of hospital visits and admissions, increasing awareness of kidney health, and rapid adoption of advanced diagnostics & tools for kidney disease detection.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, the North America kidney function tests market was the most dominant in terms of revenue share in 2020. Rising prevalence of chronic and acute kidney disorders, growing burden of lifestyle-induced diseases such as diabetes, obesity, and hypertension, rise in government initiatives to raise awareness of chronic kidney disease and treatment, and rising healthcare expenditures of people are major factors driving the North America market revenue growth.
Major Companies in the Market Include:
- Abbott Laboratories
- Jude Medical
- Beckman Coulter
- Siemens Healthcare GmbH,
- Cook Medical, Baxter
- Yourgene Health
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For the purpose of this report, Reports and Data has segmented the global kidney function tests market based on product, test type, end-use, and region:
Product Outlook (Revenue, USD Billion; Volume, 2018-2028)
Test Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Urine Tests
- Urine Protein Tests
- Creatinine Clearance Tests
- Micro albumin Tests
- Blood Tests
- Serum Creatinine Tests
- Glomerular Filtration Rate Tests
- Blood Urea Nitrogen Tests
- Kidney Biopsy
- Computed Tomography Scan
- Dilution and Concentration Tests
- Clearance Tests
End-use Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diagnostic Laboratories
- Research Laboratories & Institutes
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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