Urinalysis Market is Expected to Grow at a CAGR of 6.60%
The rising prevalence of diabetes, increasing geriatric population base, increasing prevalence of kidney diseases and growing urinary tract infections (UTI) the global urinalysis market is foreseen to achieve substantial growth during the next six years. The global urinalysis market is expected to grow at a CAGR of 6.60% from USD 1.56 Billion in 2017 and reach USD 2.43 Billion by 2024 as per the report available with DecisionDatabases.com.
Rising adoption of dipstick across the healthcare sector, growing incidences of chronic diseases due to change in lifestyle and environment has resulted in the need for quick and advanced tests. With the technological advancement in automated urine sediment analyzers and self-urine strip or readers are the key factors to enhance market growth. The huge base of the target population and unmet clinical needs in underdeveloped countries is likely to disclose the new avenues for urinalysis market in the near future.
Urinalysis is a test performed for analysis of urine sample and helps in detecting a wide range of disorders, such as diabetes, kidney disease, and urinary tract infection. Its primary function is to monitor health conditions. The urinalysis is mostly carried out for a routine medical check-up, pre-surgery preparation, pregnancy check-up, or on hospital admission to treat various disorders. It also helps to identify the cause of the symptoms, such as back pain, abdominal pain, and painful urination.
Furthermore, growing prevalence of chronic diseases such as urinary tract infection, kidney diseases, hypertension, diabetes, liver diseases, and others is the key applications segment of the global urinalysis market. At the same time, growing number of laboratory diagnostic tests and high adoption of point-of-care testing have been the major reasons for the growth of the market. Additionally, the rising trend of automation being used in the urine analysis diagnostics and growing number of hospital and healthcare centers has been foreseen as a major market driver.
From the geographical perspective, North America is leading the market and will continue to rule in the years to come due to rise in occurrence rate, and availability of established healthcare infrastructure & progressive medical support. The Asia Pacific is projected to experience the fastest growth during the forecast period. Increasing adoption of advanced urine analyzers, the presence of local urine analyzer manufacturers, such as Mindray and Urit medical, and a large base of the target population with unmet clinical needs are expected to boost the market growth over the forecast period. Middle East & Africa is likely to grow on the account of rising health consciousness and government initiatives towards resolving unmet medical needs in the region is anticipated to add impetus growth to the market.
On the flip side, the lack of sufficient healthcare infrastructure in the low-income region is a major restraint in the adoption of the latest diagnostic tools for urinalysis.
As per the report “Global Urinalysis Market Research Report - Industry Analysis, Size, Share, Growth, Trends And Forecast 2017 to 2024
” some of the major players engaged in urinalysis market include ARKRAY Inc., Siemens Healthcare, Mindray, Roche Diagnostics, Sysmex, Alere Inc., ACON Laboratories, Inc., Bio-Rad, Labomed, Inc. Teco Diagnostics and Urit Medical., among others.
DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics. DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.
Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors. We provide intellectual, precise and meaningful data at a lightning speed.
For more details:
E-Mail: [email protected]
Phone: +91 99 28 237112