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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Market Dynamics:
The pharma and healthcare sector has significantly advanced in the recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in drug discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Kidney Function Tests market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
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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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Kidney Function Tests 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 APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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