The global kidney function test market size is expected to reach USD 1,440.1 Million in 2030 and register a revenue CAGR of 6.3% over the forecast period, according to a latest report by Reports and Data.
The global kidney function test market size is expected to reach USD 1,440.1 Million in 2030 and register a revenue CAGR of 6.3% over the forecast period, according to a latest report by Reports and Data. Increase in awareness about diagnostic methods in various hospitals, clinics, and other healthcare centers is expected to drive market revenue growth during the forecast period. Increasing government initiatives for the treatment of kidney disease is also expected to boost revenue growth of the market. Public-private alliances are making kidney disease diagnostics more accessible. For example, the National Kidney Foundation (NKF) and the National Committee for Quality Assurance (NCQA) have issued a new kidney health evaluation measure for diabetes patients in July 2020. Diabetic patients should be examined for kidney diseases on a regular basis, according to the new guidelines. These guidelines are expected to create a suitable environment for market revenue growth. The increased prevalence of various kidney illnesses has led to the use of kidney function testing. One of the key factors driving demand for kidney function tests is the rising prevalence of renal failure caused by sedentary lifestyles, bad eating habits, excessive alcohol consumption, diabetes, hypertension, and obesity. Kidney function tests are laboratory tests that are routinely used to identify and assess kidney functions. The increasing geriatric population, rising need for kidney function tests to cater to kidney dysfunctions, and improving healthcare systems and diagnostic centers are important factors driving market revenue growth.
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However, stringent government regulations governing the use of specific methods in kidney tests may hamper the market revenue growth. Kidney is a very essential organ of a human body and to examine any Chronic Kidney Disease (CKD) in an individual, kidney test function is needed. Hence, the function test has to follow many strict government regulations and also undergo strict regulations for approval. For example, if a patient has a CKD and needs to undergo kidney transplant, the patient as well as the hospitals need to follow proper documentations or bonds under the laws of the government, which might be challenging.
Some Key Highlights in the Report
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- Dipstick segment is expected to account for largest market share in global kidney function test market over the forecast period, owing to its capacity to detect ketones, blood, glucose, urobilinogen, nitrite, and proteins, as well as cost-effectiveness.
- Diagnostic laboratories segment is expected to register a faster CAGR during the forecast period because testing in these labs is less expensive, can perform a wide range of tests, and provide exact findings. Owing to the increasing R&D activities in countries in North America and Europe, the research laboratories and institutes segment is expected to register fastest revenue growth rate during the forecast period.
- Urine test segment is expected to register steady revenue growth over the forecast period. These tests are inexpensive and frequently used to diagnose bladder infections, diabetes, and kidney stones. Moreover, increasing usage of point-of-care diagnostics is boosting market revenue growth of this segment.
- The kidney function test market in North America is expected to account for largest revenue share in global market over the forecast period. The availability of technologically improved goods, a well-developed healthcare infrastructure, and an increase in the prevalence of severe disorders are factors driving market growth. In addition, rising diabetes and hypertension incidence, excessive alcohol use, increased public awareness, and advantageous reimbursement scenarios, are all contributing to market expansion in this region.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Abbott Laboratories, Danaher Corporation, Siemens Healthcare GmbH, Sysmex Corporation, Randox Laboratories Ltd., Baxter International Inc., F. Hoffmann-La Roche Ltd., Arkray, Inc., Acon Laboratories Inc., and Quest Diagnostics Incorporated.
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Kidney Function Test Market Segmentation:
Type Outlook (Revenue, USD Billion; 2019–2030)
- Dipsticks
- Reagents
- Disposables
Product Outlook (Revenue, USD Billion; 2019–2030)
- Urine tests
- Blood tests
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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