The Report"Global Kidney function test market"is segmented By type (urine and blood tests), Product (Dipsticks, reagents, and disposables), End-User (hospitals, diagnostics laboratories, and research laboratories and institutes), Region (North America, Asia-Pacific, Europe, Latin America).In 2020 the Global Kidney function test market share was USD 777.06 million. It is predicted to reach USD 1160.93 billion by 2028, representing a CAGR of 6.9% percent throughout the forecasted period.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
The quickness of the rise of the global function test market may be attributable to a number of factors, including rising incidence of hypertension and type-2 diabetes, rapid growth in the country's senior population, and increased alcohol use, are some of the factors that are driving the overall growth of themarket.
COVID-19 urinary incontinence was detected in patients with a variety of infectious and dangerous conditions,according to a report published in Apr 2020 on medRXiv. Those who have a tiny lite version of COVID-19 have been shown to have had exposure to COVID-19 in the urinary system between the ages of 0 and 12. COVID-19 urinary tract infections were discovered on days 1 through 52 after the onset of the disease.
A lot of improvements in chronic renal disease, increased awareness about diagnostic procedures for kidney function, and technological developments in diagnostic equipment and tools are some of the factors driving the market's growth.
Kidney function test market -Segmentation Analysis:
By Test Type - The market is divided into urine and blood tests. In the year 2020, the Kidney function test urine category was predicted to have the most significant market share. During the forecasted period, this segment is also predicted to grow at the quickest CAGR. The quick expansion of the urinary test sector can be attributed to the rising usage of urine dipstick analysis, the convenience of sample collection compared to blood tests, which can cause discomfort and swelling, and the low risk of infection due to sample collection. One of the various imaging tests used to evaluate the kidneys is renal scintigraphy. Ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI) are examples of imaging techniques that can be employed.
By Product- The market's product categories include dipsticks, reagents, and disposables. In the year 2020, the dipsticks segment is expected to have the largest market share and the greatest CAGR during the projected period. One of the key elements contributing to dipstick testing's considerable market share is its cost-effectiveness, which also explains its widespread use around the world.
By End-Use- On the basis of end-users, the market is split into hospitals, diagnostics laboratories, and research laboratories and institutions. The hospital industry is the largest and fastest-growing component of the market. The hospital sector had the largest market share of 53.89 percent in 2020. The increased hospital visits as individuals become more aware of chronic kidney diseasecan be attributed to this high growth rate.
By Region- In 2020, North America is predicted to have the largest market share, followed by Europe. This significant percentage can be attributed to factors such as the rising prevalence of chronic diseases, hypertension, and diabetes in the United States, as well as the Canadian government's increased awareness and treatment initiatives for kidney disease. During the forecast period, however, the Asia Pacific region is likely to have the highest CAGR.
Kidney function test market- Competitive Market Analysis
The most vital players in the Global Multiplex Assays Market are Unit Medical, Sysmex Corporation, Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd., Randox Laboratories, Opti Medical, Nova Biomedical, Beckman Coulter, ARKRAY Inc., Acon Laboratories, Abbott, Cook Medical, 77 Elektronika, Medical Care, Baxter, Boston Scientific.
Kidney function test market- Recent Development