Urinalysis Market: Opportunities and Challenges in a Rapidly Evolving Industry
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Growing prevalence of Urinary Tract Infection (UTIs), liver & kidney diseases, diabetes is a significant factor driving global urinalysis market revenue growth
VANCOUVER, B.C, CANADA, April 10, 2023 /EINPresswire.com/ -- The global urinalysis market size is expected to reach USD 6.49 Billion at a steady revenue CAGR of 7.2% in 2030, according to latest analysis by Emergen Research.
Rising prevalence of UTI, diabetes, and kidney diseases such as Chronic Kidney Disease (CKD), polycystic kidney disease , and acute kidney failure, rapid advancements in technology in urinalysis methods for early diagnosis, and growing adoption of automated urinalysis in various hospitals, clinics, and other healthcare centers are major factors driving market revenue growth. In addition, innovative technological advancements in urine analysis instrumentation, new biomarkers, and a reinvigorated comprehension of strategic value of urinalysis in medical science have focused on urine analysis for early detection and treatment of kidney disease, pregnancy as well as other co-morbidities, such as gestational diabetes, are also expected to drive market revenue growth.
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Availability of refurbished urine analyzers is a major factor restraining market revenue growth. These products provide same functionality as a new equipment but at a lower cost. Several small and medium-sized laboratories rely on low-cost refurbished systems and it is also probable that urine samples will be difficult to preserve and transport to testing facilities. Targets of interest may potentially deteriorate during the transfer of samples including test strips.
The report offers a complete analysis of the global Urinalysis market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.
Some major companies in the global market report include Siemens Healthcare GmbH, F. Hoffmann-La Roche Ltd, Cardinal Health, Abbott, Danaher, Sysmex Corporation, Thermo Fisher Scientific Inc., Quidel Corporation, Becton, Dickson and Company (BD), and Bio-Rad Laboratories, Inc.
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Some Key Highlights From the Report
On 10 July 2021, Bisu, Inc., a Tokyo-based digital health startup that helps users to improve their fitness and wellness through at-home lab-grade testing, raised USD 3.2 million in seed funding led by Korean biotech investor QUAD, with participation from ASICS Ventures Corporation, 15th Rock Ventures, Pacifico Investments, and SOSV. Bisu Body Coach, a portable home health lab that gives personalized nutritional and lifestyle advice via easy, accurate urine and saliva testing, will be available for purchase. Bisu is also committed to work with ASICS Corporation on health and fitness service projects.
The pregnancy and fertility segment is expected to register a high revenue growth rate during the forecast period owing to rising prevalence of infertility, as well as increasing age of first pregnancy. For example, infertility is a global health issue that affects millions of individuals of reproductive age. According to estimates, infertility affects 48 million couples and 186 million individuals globally. On the other hand, environmental and lifestyle factors, such as smoking, excessive alcohol consumption, obesity, and exposure to environmental toxins, have been associated with lower fertility rates in both men and women.
The home care settings segment is expected to register a high revenue growth rate during the forecast period. A home-use urinalysis strip allows users to monitor their health from comfort of their own homes rather than seeing a medical expert for a urine test every time they suspect an issue, which may be costly and time-consuming. Home urinalysis enhances screening uptake, such as ACR testing for diabetic and hypertensive patients and lowers frequency of GP and clinic visits, alleviating load on NHS's overworked services.
The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented the global urinalysis market based on products, test type, application, end-use, and region:
Products Outlook (Revenue, USD Billion; 2019–2030)
Consumables
Pregnancy and Fertility Kits
Dipsticks
Disposables
Reagents
Instruments
Automated Urine Analyzers
Biochemical Urine Analyzers
Sediment Urine Analyzers
Microscopy Analyzers
Flow Cytometry Analyzers
Integrated Urine Analyzers
Semi-automated Urine Analyzers
Point-of-Care Urine Analyzers
Test-Type Outlook (Revenue, USD Billion; 2019–2030)
Pregnancy & Fertility Tests
Biochemical Urinalysis
Laboratory Tests
POC Tests
Sediment Urinalysis
Application Outlook (Revenue, USD Billion; 2019–2030)
Disease Screening
Urinary Tract Infections
Kidney Diseases
Diabetes
Liver Diseases
Others
Pregnancy and Fertility
End-Use Outlook (Revenue, USD Billion; 2019–2030)
Diagnostic Laboratories
Hospitals and Clinics
Home Care Settings
Research Laboratories and Institutes
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Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
The report covers the analysis of the factors anticipated to drive the Global Urinalysis Market growth over the forecast period of 2022-2030. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report considers 2021 as the base year and 2019-2020 as the historical years. It puts examines the drivers and restraints of the Urinalysis market and analyzes their impact on the industry throughout the forecast period.
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
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