Reports And Data

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

NEW YORK, USA, UNITED STATE, November 7, 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.

The report consists of quantitative and qualitative research on the market performed by our market experts. The Kidney Function Test industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.

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Market Overview:

The global Kidney Function Test market has significantly grown over the recent past and is expected to register rapid growth over the forecast period. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Kidney Function Test market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.

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.

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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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.

Kidney Function Test Market Segmentation:

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

Dipsticks
Reagents
Disposables

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

Urine tests
Blood tests

End-use Outlook (Revenue, USD Billion; 2019–2030)

Hospitals and Clinics
Academic Research Laboratories
Diagnostic Laboratories

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)

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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, Touch Points, 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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