USD 805.08 million
Report ID:
SQMIG35D2206 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
91 |
Figures:
66
Global Kidney Function Test Market size was valued at USD 805.08 million in 2021 and is poised to grow from USD 855 million in 2022 to USD 1383.45 million by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
The Kidney function test market is poised for substantial growth, buoyed by several contributing factors that collectively propel advancements in this field. Notably, escalating investments by key market players and a concurrent surge in research and development activities are steering innovative strides in Kidney care. A significant driver is the high prevalence of kidney diseases, urging a proactive approach towards improved diagnostics and treatment. Additionally, the growing impetus from government initiatives further bolsters this momentum, fostering an environment conducive to transformative advancements.
One such example is Nova Biomedical's groundbreaking introduction in March 2022—a pioneering tool designed to revolutionize Kidney care by enabling early disease detection and renal function screening in Point-of-Care Testing (POCT) settings beyond hospital confines. The efficacy of this technology has been substantiated through clinical studies conducted across various non-hospital environments, encompassing community health centers, pharmacies, imaging centers, physician offices, clinics, and even home-based testing by individuals. This innovative leap promises to extend the reach of Kidney health assessment, empowering diverse settings with enhanced diagnostic capabilities and facilitating proactive measures for improved patient outcomes.
Global Market Size
USD 805.08 million
Largest Segment
Diagnostic Laboratories
Growth Rate
6.2% CAGR
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The test segment is divided into clearance tests, urine tests, blood tests, dilution and concentration tests, and other tests. The product segment is divided into dipsticks, disposables, and reagents. The end-use segment is divided into diagnostic laboratories, hospital’s. The region is divided intoThe component segment is divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Analysis by End-Use
In 2022, the hospital segment emerged as a dominant force, commanding a substantial market share of 40.90%. This dominance is attributed to the heightened rates of hospitalization, where medical practitioners necessitate accurate diagnostic insights to guide subsequent treatment protocols. Typically, diagnostic centers operate in tandem with hospitals, leading many hospitals to establish their diagnostic setups. Furthermore, ongoing advancements in healthcare infrastructure are poised to augment existing hospital facilities, paving the way for expanded services and broader offerings.
The diagnostic laboratories segment is forecasted to witness remarkable growth, anticipated to exhibit a notable CAGR of 7.95% in 2022. This projected surge is propelled by several key factors, including heightened awareness surrounding Chronic Kidney Disease (CKD) and an escalating demand for accessible and cost-effective diagnostic services. Rapid strides in technology further contribute to this segment's anticipated expansion. Moreover, governmental initiatives aimed at enhancing healthcare provision, such as facilitating reimbursements for diagnostic tests, play a pivotal role in propelling market growth.
Analysis by Product
In 2022, the clearance tests segment asserted its dominance, accounting for a substantial market share of 28.05%, and is poised to maintain its leading position throughout the forecast period. Revered as the gold standard for monitoring glomerular filtration rate, clearance tests encompass vital products like creatinine and inulin tests. These tests represent crucial additions to conventional diagnostic measures, ensuring meticulous and precise results in Kidney function assessment. Their appeal lies in their optimal sensitivity and precision, minimizing performance variations. Additionally, their widespread adoption is propelled by their cost-effectiveness and easy accessibility in the market.
Conversely, the urine tests segment is projected to experience a noteworthy CAGR of 7.61% in the forecast years. Among these tests, urea quantification stands as a commonly employed method to assess renal function. Vital clinical tests involving urine, plasma, and serum urea analyses play a pivotal role in detecting renal ailments and dysfunctions. Urine tests, often coupled with creatinine determination tests, are instrumental in diagnosing pre-renal, renal, and post-renal uremia. Moreover, the burgeoning investments within the renal function testing industry are set to bolster market expansion. For instance, in January 2020, Sweden-based Elypta AB secured significant seed financing amounting to USD 7.0 million, aiming to pioneer the provision of the inaugural urine test for renal cancer. These investments underscore a growing commitment to advancing urine-based diagnostic tools, promising to drive further innovation and expansion within the renal function testing market.
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In 2022, North America emerged as the revenue leader, asserting dominance within the market landscape. This stronghold can be attributed to several factors, notably the region's well-established healthcare infrastructure, coupled with a heightened awareness of Chronic Kidney Disease (CKD) among both healthcare professionals and the general populace. Additionally, the region benefits from favorable reimbursement policies and proactive governmental initiatives aimed at bolstering healthcare accessibility and affordability.
Anticipated to showcase a substantial CAGR of 8.34% over the forecast period, the Asia Pacific region is poised for significant expansion within the Kidney function tests market. This growth trajectory is notably propelled by the escalating prevalence of Kidney diseases in the region, signaling a pressing healthcare concern. For instance, data from the Australian Institute of Health and Welfare in 2020 revealed a stark reality, with approximately 17,700 individuals succumbing to Chronic Kidney Disease (CKD) in Australia alone.
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Drivers
Rising Technological Advancements
Restraints
High Cost of Kidney Related Tests
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The competitive environment of the global Kidney Function Test market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Kidney Function Test marketplace analysis exhibits a dynamic marketplace with some of standout developments and problems. The Kidney function test market is poised for significant growth, driven by the increasing prevalence of acute Kidney injury (AKI) and its association with chronic Kidney disease (CKD) over the forecast period. CKD, characterized by persistent renal function and structural abnormalities persisting for at least 3 months, is strongly linked to lifestyle diseases and Kidney injuries, posing substantial risks. This condition has emerged as a global health concern, standing as a leading cause of illness and mortality worldwide. According to the World Health Organization (WHO), Kidney disease has risen in prevalence, ranking among the top 10 causes of death globally over the past nine years.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 805.08 million |
Market size value in 2031 | USD 1383.45 million |
Growth Rate | 6.2% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Kidney Function Test Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Kidney Function Test Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Kidney Function Test Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Kidney Function Test Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQMIG35D2206