Urinalysis Market revenue to cross USD 4.6 Bn by 2027: Global Market Insights Inc.
SELBYVILLE, Del., Nov. 22, 2021 /PRNewswire/ -- The urinalysis market size is anticipated to record a valuation of USD 4.6 billion by 2027, according to the most recent study by Global Market Insights Inc. Increasing number of people suffering with urinary tract infection, demand for urinalysis in pregnant woman, and approval of home-based urinalysis kits will foster the industry progression. Increasing geriatric population is one of the prime factors that will promote the market growth.
The consumables segment was valued at USD 2 billion in 2020. The demand for consumables has increased owing to the growing doctors' recommendation for regular urine testing. Also, the consumables such as reagents strips easily detects for infection, fat breakdown, diabetes in minutes. The increasing awareness among people is the other key factor that is driving the consumables growth. Further, the rising developments in various urine test strips and test kits and growing demand for user-friendly, low-cost dipsticks and consumables will bolster the market expansion.
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The diabetes segment accounted for more than USD 366 million in 2020. For instance, according to the International Diabetes Federation, the prevalence of diabetes globally is expected to increase from 366 million in 2011 to 552 million by 2030. Prolonged diabetes leads to kidney and liver diseases, that in turn increases the demand for urinalysis and will render a positive impact on the industry growth during the forecast period.
The home healthcare segment is predicted to witness 5.2% growth rate through 2027 led by the availability and approval of several home urinalysis testing kits. For instance, in July 2018, the FDA has approved a smartphone-based at-home urine testing device called Dip.io. The device allows patients with chronic disease, urinary tract infections, or high-risk pregnancies to track their health using a mobile app. Additionally, for elderly people home healthcare screening tools are convenient and prevent them from catching any type of hospital acquired infection. As it has been reported that the most common hospital acquired infection that affects millions of people worldwide is urinary tract infection. Furthermore, dipsticks test kits are available for home testing without any prescription.
Asia Pacific urinalysis market captured around 26% of revenue share in 2020. Increasing prevalence of kidney diseases in this region will escalate the market progression. For instance, according to the Global Burden of Disease (GBD), China has 119.5 million chronic kidney disease patients as of 2018. The prevalence of CKD is tied to increasing cases of obesity, hypertension and diabetes, and to aging population in the region. Also, growing cases of urinary tract infection in developing Asian countries, and rising healthcare spending on diagnosis sector will further augment the regional expansion.
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Some of the prominent players functioning in the urinalysis market include Sysmex, Roche Diagnostics, Abbott, Bio-Rad Laboratories Inc., Erba Mannheim, Acon Laboratories, Cardinal Health, ARKKRAY USA Inc., HYCEL MEDICAL, and Teco Diagnostics. These companies are involved in strategic partnership agreements, collaborations and mergers to strengthen their market position.
Table of Contents (ToC) of the report:
Chapter 3 Urinalysis Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter's analysis
3.7 Competitive landscape, 2020
3.7.1 Competitive matrix analysis, 2020
3.8 PESTEL analysis
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