Urinalysis Market to hit USD 5.2 Billion by 2028, Says Global Market Insights Inc.
Urinalysis Industry is anticipated to register 5.6% CAGR between 2022 and 2028 impelled by rise in the use of infrared thermometers with the increasing number of COVID-19 patients.
Selbyville, Delaware, April 14, 2022 (GLOBE NEWSWIRE) —
The urinalysis market value is projected to reach USD 5.2 billion by 2028, according to a new research report by Global Market Insights Inc. Increasing volume of urinalysis in healthcare settings owing to the rising incidence of chronic kidney diseases will fuel the business landscape.
Rising prevalence of urinary tract infections (UTIs) across the globe will drive the market expansion. UTIs are considered as most common bacterial infections spread to the kidneys and lead to birth complications among pregnant women if remains untreated. Furthermore, the chronic renal diseases, kidney stones and diabetes are among the prominent risk factors contributing to the incidence rate of UTIs. Thus, the aforementioned factors are expected to spur the market demand.
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Urinalysis market from consumables segment was valued at USD 2.3 billion in 2021. Increasing use of urinalysis consumables for home testing as well as facility testing is anticipated to accelerate the segment demand. Moreover, several advantages associated with usage of dipsticks including quick results that allows clinical management to make prompt decisions will benefit its adoption rate. The industry players are involved in development of advanced urine test strips and test kits that offers enhanced specificity, accuracy, and ease of use that will boost the sector revenue.
Some major findings of the urinalysis market report include:
- Growing incidence of chronic diseases including diabetes, cardiovascular diseases, and chronic kidney diseases (CKDs) that requires urine testing will fuel the industry outlook.
- Rising prevalence of urinary tract infection (UTI) among women will contribute to the urinalysis volume, thereby augmenting the market trends.
- Increasing pregnancy rate in developed as well as developing nations further influences the demand for urine testing to monitor gestational diabetes, UTI, or preeclampsia in pregnant women.
- Rising awareness regarding early diagnosis of kidney diseases in developed nations will propel the market size.
- Product developments are leading to the launch of automated devices will broaden the customer base of the operating companies.
Browse key industry insights spread across 170 pages with 283 market data tables & 16 figures & charts from the report, “Urinalysis Market Analysis By Product (Consumables {Dipsticks, Reagents, Disposables}, Instruments {Biochemical Urine Analyzers, Automated Urine Sediment Analyzers}), Application (Urinary Tract Infections [UTI], Kidney Diseases, Pregnancy, Diabetes), End-use (Clinical Laboratories, Hospitals, Home Healthcare), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/urinalysis-market
Urinalysis market from pregnancy segment is set to grow at 5.7% CAGR during the analysis timeframe. Increasing rate of pregnancy across developed nations will stimulate the demand for urinalysis owing to the need for routine testing. To monitor several parameters during the pregnancy and risk of UTI, the physicians perform urine sample testing for the screening of bacteria that indicate a UTI during the prenatal visit. This is done through a laboratory urinalysis that will ultimately enhance the product demand in such facilities.
Homecare healthcare segment is projected to exhibit 5% CAGR during the analysis timeframe. Growing awareness regarding early disease diagnosis with preference for home services will augment the industry size. Furthermore, the expansion and penetration of companies developing self-test kits that helps in quick and accurate testing at home settings will influence the customer preference. Therefore, the approval for various home testing products with rising disposable income will positively impact the revenue growth.
Asia Pacific urinalysis market accounted for 25% business share in 2021 and is projected to progress at significant rate during the forecast timeframe. Increasing prevalence of chronic kidney diseases in the region is likely to propel the market progression. Adoption of sedentary lifestyle will further contribute to the health complications associated with kidney. Furthermore, growing affordability and accessibility of advanced diagnostic tests with business expansion of industry players will foster the regional industry landscape.
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Major market leaders operating in the urinalysis industry include Sysmex Corporation, F. Hoffmann-La Roche Ltd, ACON Laboratories, Cardinal Health, Abbott, Bio-Rad Laboratories Inc., ARKRAY Inc., Erba Mannheim, Siemens Healthineers, 77 Elektronika Kft, and Teco Diagnostics.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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