Published Date: 26-May-2021
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According to a new report Global Kidney Function Tests Market, published by KBV research, The Global Kidney Function Tests Market size is expected to reach $1.4 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period.
The urine test segment would record the prominent growth rate during the forecast period. These products find potential application in a broad range of applications such as Urinary Tract Infections (UTIs), kidney stones, diabetes, pregnancy, high blood pressure, thereby supporting the segment’s growth. In addition to it, detection of prescription drug abuse, which can be performed using urine tests and a surge in PoC diagnostics along with the low-priced of these tests would fuel the growth of the segment.
The hospitals segment gained the maximum revenue share in 2020 and would remain the leading revenue generating segment even during the forecast years. The increasing number of hospital visits owing to the growing awareness regarding CKD and its treatment is responsible for this massive growth.
North America has dominated the market in 2020. Asia-Pacific would showcase a promising growth rate during the forecast period. This is credited to the quickly developing healthcare infrastructure and a spike in investment by key market players. Moreover, the existence of a huge target population in developing countries like India and China would boost the regional market during the forecast period.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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