Rising incidence of acute and chronic kidney diseases, high occurrence of hypertension and diabetes

NEW YORK, NEW YORK, UNITED STATES, September 3, 2021 /EINPresswire.com/ -- The global kidney function test market size is expected to reach USD 1.2 Billion in 2028 and register a CAGR of 6.1%, according to the latest report by Reports and Data. Key factors such as increasing initiatives by public and private organizations to create public awareness and increasing R&D initiatives to develop enhanced products are driving global market revenue growth.

Kidneys are one of the most vital organs in the human body and play an important role in removing water-soluble products from blood and reabsorbing essential elements. Increased blood pressure, frequent urges to urinate, blood in urine, and swelling of limbs and hands are common symptoms of renal failure. Increasing incidence of various kidney diseases has resulted in the adoption of kidney function tests. Rising prevalence of kidney failure due to increasing adoption of sedentary lifestyle, unhealthy eating habits, excessive alcohol consumption, diabetes, hypertension, and obesity is one of the primary reasons boosting demand for kidney function tests. Kidney function tests are laboratory tests commonly used for detecting and evaluating kidney functions. Increasing occurrence of kidney stones, acute kidney injury, renal failure and chronic kidney disease, rising geriatric population, increasing demand for kidney function tests to cater to rising kidney dysfunctions, and developing healthcare systems and diagnostic centers are key factors fueling market growth.

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The global Kidney Function Tests market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.

The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.

Competitive Landscape:

The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.

Key findings in the report:

• Among the product segments, the dipsticks segment is expected to account for significant revenue growth over the forecast period. High demand for dipsticks due to its ability to detect presence of ketones, blood, glucose, urobilinogen, nitrite, and proteins and cost-effectiveness of dipstick testing is fueling segment revenue growth.

• The research laboratories segment revenue is expected to expand at fastest CAGR between 2021 and 2028. Increasing investments in research and development activities and growing demand for enhanced products are key factors boosting global market revenue growth.

• The urine tests segment is expected to account for significant revenue growth during the forecast period. These tests are affordable and are widely used for detecting urinary tract infections, diabetes, and kidney stones. In addition, rising adoption of PoC diagnostics is also boosting segment revenue growth.

• North America accounted for largest market share in 2020 and is expected to maintain its dominant position over the forecast period. Availability of technologically advanced products, well-developed healthcare infrastructure, and rising incidence of key diseases are key factors boosting market growth. In addition, increasing prevalence of diabetes and hypertension, excessive intake of alcohol, high public awareness, and favorable reimbursement scenarios are also supporting market growth in this region.

• Asia Pacific is expected to register fastest revenue CAGR over the forecast period. Rapid revenue growth is attributed to factors such as rising prevalence of chronic kidney disease, kidney stones, diabetes and blood pressure, high alcohol consumption, increasing investments in research and development activities, and developing healthcare systems. Moreover, increasing demand for enhanced diagnostic and therapeutic treatment and rising healthcare awareness are further fueling market growth.

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For this study, Reports and Data has segmented the global kidney function test market based on product, type, end-use, and region:

Product Outlook (Revenue, USD Billion, 2018 - 2028)

• Dipsticks
• Reagents
• Disposables

Type Outlook (Revenue, USD Billion, 2018 - 2028)

• Clearance Tests
• Urine Tests
• Blood Tests
• Dilution and Concentration Tests
• Others

End-use Outlook (Revenue, USD Billion, 2018 - 2028)

• Hospitals
• Diagnostic Laboratories
• Research Laboratories and Institutes
• Others

Key Regional Markets:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key findings in the report:

• Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities

• Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing

• Technological developments and detailed analysis in the volatile competitive landscape.

• New strategies adopted by new and emerging market players

• Estimation about manufactures, sales and import and export dynamics

Thank you for reading the research report on global Kidney Function Tests market. Kindly contact us to know more about the customization feature and our team will offer the best suited report as per your requirement.

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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