Kidney Function Test Market | Objectives | key Players | Segmentation | Growth Analysis
The Kidney Function Test Market is projected to reach $790.1 Million, growing at a CAGR of 6.1% during the forecast period.
According to the new market research report "Kidney/Renal Function Test Market by Product (Dipsticks, Reagents, Disposables), Type (Urine Test (Urine Protein, Microalbumin, Creatinine Clearance), Blood Test (Serum Creatinine, BUN)), End User - Global Forecast", published by MarketsandMarkets™.
The key factors driving the growth of this market include the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, increasing geriatric population, and rise in alcohol consumption.
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Research Methodology:
Top-down and bottom-up approaches were used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall kidney function test market. Various secondary sources such as associations like the American Academy of Family Physicians (AAFP), University of Utah, European Renal Care Providers Association (ERCPA), Association of Clinical Biochemists in Ireland (ACBI), Association of Physicians of India (API), American Urological Association (AUA), Centers for Disease Control and Prevention (CDC), National Kidney Foundation, World Health Organization (WHO), directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market
Market Segmentation in-Detailed:
By product, the 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.
On the basis of end users, the Renal Function Test Market is segmented into hospitals, diagnostics laboratory, and research laboratories & institutes. The hospitals segment is the largest and fastest growing segment of the market. Factors contributing to the large share and high growth rate of this segment include the increasing number of awareness campaigns about kidney function tests and the growing focus of emerging economies on increasing the number of hospitals in these regions.
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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 micro-markets 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 function test market
Worldwide Geographical Segmentation in-detailed:
The Kidney Function Test Market is segmented into four regional segments, namely, North America, Europe, the Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global 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 function/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).
