An increase in awareness about diagnostic methods in various hospitals, clinics, and other healthcare centers is one of the key factors driving market growth

NEW YORK CITY, NY, UNITED STATES, June 2, 2022 /EINPresswire.com/ -- 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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However, stringent government regulations governing the use of specific methods in kidney tests may hamper the market revenue growth. Kidney is a very essential organ of a human body and to examine any Chronic Kidney Disease (CKD) in an individual, kidney test function is needed. Hence, the function test has to follow many strict government regulations and also undergo strict regulations for approval. For example, if a patient has a CKD and needs to undergo kidney transplant, the patient as well as the hospitals need to follow proper documentations or bonds under the laws of the government, which might be challenging.

Rapid spread of COVID-19 worldwide, substantially growing patient pool, significant changes in demand for and supply of healthcare solutions during the COVID-19 times, growing trends of telehealth and telemedicine, and increasing need for advanced point-of-care diagnostics are among the other key factors further driving market revenue growth. Increasing government funding for development of COVID-19 vaccines, rising focus on new drug discovery & development, and rising government focus on strengthening the healthcare supply chain system create further revenue growth opportunities for the market.

Competitive Outlook of the Global Kidney Function Test Market

The globla Kidney Function Test market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Kidney Function Test market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.

Top Companies Profiled in the Report:

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

Type Outlook (Revenue, USD Billion; 2019–2030)

• Dipsticks
• Reagents
• Disposables

Product Outlook (Revenue, USD Billion; 2019–2030)

• Urine tests
• Blood tests

Geographic Segment Covered in the Report:

The Kidney Function Test report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

Some Key Highlights in the Report

• Dipstick segment is expected to account for largest market share in global kidney function test market over the forecast period, owing to its capacity to detect ketones, blood, glucose, urobilinogen, nitrite, and proteins, as well as cost-effectiveness.
• Diagnostic laboratories segment is expected to register a faster CAGR during the forecast period because testing in these labs is less expensive, can perform a wide range of tests, and provide exact findings. Owing to the increasing R&D activities in countries in North America and Europe, the research laboratories and institutes segment is expected to register fastest revenue growth rate during the forecast period.
• Urine test segment is expected to register steady revenue growth over the forecast period. These tests are inexpensive and frequently used to diagnose bladder infections, diabetes, and kidney stones. Moreover, increasing usage of point-of-care diagnostics is boosting market revenue growth of this segment.
• The kidney function test market in North America is expected to account for largest revenue share in global market over the forecast period. The availability of technologically improved goods, a well-developed healthcare infrastructure, and an increase in the prevalence of severe disorders are factors driving market growth. In addition, rising diabetes and hypertension incidence, excessive alcohol use, increased public awareness, and advantageous reimbursement scenarios, are all contributing to market expansion in this region.

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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 clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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