"The influential Kidney/Renal Function Test Market Report provides a list of key competitors, strategic industry analysis, and insights into key factors influencing the Kidney/Renal Function Test Market industry. The market analysis and insights included in this market research report offer key statistics on the market status of global and regional manufacturers and are an important source of guidance that provides sound direction for companies and individuals interested in the industry. The first-class Kidney/Renal Function Test s Market Report also includes all the data covering market definition, classification, application, involvement, market drivers, and market restrictions obtained with the help of SWOT analysis.
The Kidney/Renal Function Test s Market research report covers a methodical investigation of the current global market scenario, encompassing several market dynamics. This report provides the fluctuation of CAGR value during the forecast period of 2023-2030 for the market. The study and analysis carried out in this business report also helps to know the type of consumers, their views about the product, their purchasing intentions, and their ideas for the progress of a product. This report helps businesses know their market share over various time periods, transportation, storage, and supply needs of their products. Persuasive Kidney/Renal Function Test Market analysis reports provide useful insights that help while launching new products.
The expected CAGR of the kidney/renal function test market tends to be around 6.20 % in the mentioned forecast period. The market was valued at USD 874.7 million in 2022 and would grow to USD 1415.31 million by 2030.
Explore Further Details about This Research Kidney/Renal Function Test Market Report https://www.databridgemarketresearch.com/reports/global-kidney-renal-function-test-market
Kidney/Renal Function Test Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Product Type (Dipsticks, Reagents, Disposables), Test Type (Urine Tests, Blood Tests), End User (Hospitals, Diagnostic Laboratories, Research Laboratories and Institutes, Others) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Pfizer Inc (U.S.), AstraZeneca (U.K.), Bristol-Myers Squibb Company (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Abbott (U.S.), Danaher. (U.S.), bioMérieux (France), Siemens Healthcare Private Limited (Germany), BD (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Sysmex Corporation (Japan), Nova Biomedical (U.S.), Trinity Biotech (Ireland), Alfa Scientific Designs, Inc (U.S.), IDEXX (U.S.), Beckman Coulter, Inc. (U.S.) |
Market Opportunities |
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Market Definition
The kidney/renal function tests are used to diagnose any defect in the functions of the kidney. The common symptoms of these diseases are difficulty in urination due to increased body fluids, blood in urine, swelling in hands or feet, and swollen face. Kidney or Renal diseases may develop over the years, leading to end-stage kidney (or renal) disease (ESRD). It has become a massive public health issue. For the correct identification of these diseases, they are used widely.
Global Kidney/Renal Function Test Market Dynamics
Drivers
- Increased Prevalence of Kidney Diseases
The growing incidence of chronic kidney disease worldwide is majorly responsible for enhancing the market's growth. As per the National Kidney Foundation records, approximately 10% of the global population is affected by chronic kidney disease (CKD). According to WHO facts 2019, around 1.13 billion people globally have hypertension. In 2014–2016, diabetes and hypertension were responsible for about 75% of kidney failure. This increasing prevalence demands higher demand for tests for early disease detection, leading to market growth. Thus, it boosts the market growth.
- Increasing Technological Advancements by Market Players
The increased adoption of digital urinalysis specifies the increasing demand for home diagnostics, enhancing market growth. For instance, Healthy.io, a start-up in digital health headquartered in Israel, developed an FDA-cleared at-home smartphone urinalysis test to assist people in opting for kidney tests for proteins. Early detection helps to prevent complications from kidney diseases. Furthermore, the company's urinalysis test, called Dip.io, uses disposable cups and strips in combination with a smartphone camera to interpret and read the results. Thus, this factor boosts market growth.
Opportunities
- Growing Demand for Hospitals
The wide presence of many hospitals in the U.S. and a well-developed healthcare infrastructure are other major factors leading to market growth. For instance, according to the American Hospital Association, there were about 208 federal government hospitals, 6,090 community hospitals, and 625 non-federal psychiatric hospitals in the U.S. Also, a major increase in hospital admissions for acute kidney disease is enhancing the demand for dialysis and transplant, boosting the market growth.
- Rising Strategic Agreements by Organizations
The top manufacturers in the region are primarily focused on developing innovative products. For instance, Abbott HealthTab, Inc. signed a non-assignable pilot supplier distribution agreement with Abbott for i-STAT Alinity, a handheld blood chemistry analyzer, in 2021. The agreement allows HealthTab to deliver Abbott's POC i-STAT Alinity and its associated tests for creatinine in Canadian drug stores to help patients receive necessary information about their kidney functions. Thus, this factor boosts market growth.
Key questions answered in the Kidney/Renal Function Test Market are:
- What is Kidney/Renal Function Test Market?
- What was the Kidney/Renal Function Test Market size in 2022?
- What are the different segments of the Kidney/Renal Function Test Market?
- What growth strategies are the players considering to increase their presence in Kidney/Renal Function Test Market?
- What are the upcoming industry applications and trends for the Kidney/Renal Function Test Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Kidney/Renal Function Test Market?
- What major challenges could the Kidney/Renal Function Test Market face in the future?
- What segments are covered in the Kidney/Renal Function Test Market?
- Who are the leading companies and what are their portfolios in Kidney/Renal Function Test Market?
- What segments are covered in the Kidney/Renal Function Test Market?
- Who are the key players in the Kidney/Renal Function Test Market?
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