The Europe Kidney Function Tests Market would witness market growth of 7.3% CAGR during the forecast period (2021-2027). In the human body, the kidneys are considered as one of the most crucial organs. The kidney performs many functions in our body such as blood filtration, reabsorbing the important elements, and eliminating the water-soluble waste products from the blood.
As the kidney is a highly important organ, they need consistent regeneration of dead nephrons and appropriate blood circulation in order to maintain healthy cell development, because of which they are prone to cancerous tumors and metastasis. The functional damage of the kidney is highly common around the world, and it keeps on growing at a rapid pace. High blood pressure, difficulty in urination, blood in urine, frequent urges to urinate, and swelling in the hands and feet because of the accumulation of fluids in the body are some of the common symptoms that show problems in the kidney.
The market would witness bright growth prospects with the increasing number of R&D activities for the development of unique products. For example, in January 2020, Germany-based SphingoTecGmbH introduced its IB10 sphingo test penKid, a point-of-care (PoC) test for Proenkephalin (penKid). This biomarker allows real-time assessment of kidney function with a regular blood test. Additionally, the market would further be fuelled by the increasing investment in the domain of kidney function testing. In January 2020, Sweden-based Elypta AB collected a seed round worth USD 7 million to create the first urine test for kidney cancer.
The Germany market dominated the Europe Diagnostic Laboratories Market by Country in 2020, thereby, achieving a market value of $23.6 million by 2027. The UK market is showcasing a CAGR of 5.7% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 8.1% during (2021 - 2027).
Based on Product, the market is segmented into Clearance Test, Blood Tests, Urine Tests, Dilution & Concentration Tests, and Others. Based on End Use, the market is segmented into Hospitals, Diagnostic Laboratories, Research Laboratories and Institutes and others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Kidney Function Tests Market Size will Hit $1.4 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Danaher Corporation, F. Hoffmann-La Roche Ltd., Siemens AG, Randox Laboratories Limited, Quest Diagnostics, Incorporated, Laboratory Corporation of America holdings, Sysmex Corporation, ACON Laboratories, Inc., and Nova Biomedical Corporation.
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