DUBLIN--(BUSINESS WIRE)--The "Albumin & Creatinine Tests Market by Product (Analyzers, Cartridges (POC, Tabletop), Dipsticks, Kits, Reagents), Type (Blood & Urine Creatinine, Urine Albumin, Glycated Albumin), Enduser (Hospital, Diagnostic & Research Labs) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global albumin & creatinine tests market size is valued at an estimated USD 987 million in 2020 and is projected to reach USD 2,103 million by 2025, at a CAGR of 16.3% during the forecast period.
The growth of the global albumin & creatinine tests market is driven by factors such as the growing prevalence of kidney disorders, the rising adoption of POC diagnostics, and the increasing prevalence of chronic conditions. However, factors like unfavorable healthcare reforms in the US and the high cost of automated analyzers are hampering the growth of the albumin & creatinine tests market during the forecasted period.
The dipstick & kits segment accounted for the highest growth rate in the albumin & creatinine tests market, by product, during the forecast period.
Based on product, the albumin & creatinine tests market is segmented into dipsticks & kits, analyzers, cartridges, and reagents & other consumables. In 2019, the dipsticks & kits segment accounted for the largest share in this market. The frequent purchase of these products compared to instruments like analyzers and cartridges and the increasing use of kit-based rapid techniques for albumin & creatinine tests drive market growth.
The urine test segment accounted for the highest CAGR.
Based on type, the albumin & creatinine tests market is segmented into urine tests and blood & serum creatinine tests. In 2019, urine tests accounted for the largest share in this market. Factors such as the rapid growth in the diagnostics segment and the increasing demand for rapid and easy-to-use urine tests drive the growth of this segment.
Asia Pacific: The fastest-growing region albumin & creatinine tests market.
The Asia Pacific albumin & creatinine tests market is estimated to grow at the highest CAGR, mainly due to the expansion of key market players in emerging Asian countries, increasing expenditure on life science and medical research in the region, and the increasing geriatric population and prevalence of chronic conditions in Asian countries such as India and China.
Market Dynamics
Drivers
- Rising Prevalence of Kidney Disorders
- Increasing Adoption of Point-Of-Care (POC) Diagnostics
- Growing Global Prevalence of Chronic Conditions Leading to Kidney Diseases
Restraints
- Unfavorable Healthcare Reforms in the US
Opportunities
- Integrated and Automated Systems for Overall Urine Analysis
- Emerging Economies to Provide Significant Opportunities
Challenges
- High Cost of Automated Analyzers
- High Degree of Consolidation Acts as an Entry Barrier for New Entrants
Companies Mentioned
- Abbexa Ltd.
- Abbott Laboratories
- Acon Laboratories, Inc.
- Arbor Assays, Inc.
- Arkray Global Business, Inc.
- Aviva Systems Biology
- Axxora, LLC
- Bioassay Systems
- Danaher Corporation
- Fujifilm Wako Pure Chemical Corporation
- Nova Biomedical Corporation
- Ortho Clinical Diagnostics
- Promocell GmbH
- Quantimetrix Corporation
- Randox Laboratories
- Raybiotech, Inc.
- Roche Diagnostics (A Division of F. Hoffman-La Roche Ag)
- Sekisui Diagnostics Pei Inc.
- Siemens Healthineers Ag
- Sysmex Corporation
- Teco Diagnostics
- Thermo Fisher Scientific, Inc.
- Tulip Diagnostics Ltd.
- Ulti Med Products GmbH
- URIT Medical Electronic Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ujx54o
