The global urinalysis market is projected to reach USD 4.6 billion by 2024 from USD 3.2 billion in 2019, at a CAGR of 7.6% from 2019 to 2024
NEW YORK, April 8, 2019 /PRNewswire/ -- Urinalysis market to register a CAGR of 7.6% from 2019 to 2024
The global urinalysis market is projected to reach USD 4.6 billion by 2024 from USD 3.2 billion in 2019, at a CAGR of 7.6% from 2019 to 2024. The growth of the market is largely driven by factors such as the growing global prevalence of kidney diseases and urinary tract infections, the shift towards automation in sediment analysis, and the increasing adoption of point-of-care urinalysis. Integrated systems for urinalysis and the emerging economies are expected to provide a wide range of growth opportunities for players in the market.
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Consumables accounted for a significant share of the market in 2019
By product, the urinalysis market is segmented into consumables and instruments.The consumables segment includes pregnancy and fertility kits, dipsticks, reagents, and disposables, while the instruments segment includes automated urine analyzers, semi-automated urine analyzers, and point-of-care urine analyzers.
The consumables segment dominated the market and is the fastest growing segment due to rising incidence of urinary tract infections and kidney diseases which creates the demand for regular urine checkups.
Pregnancy and fertility tests segment accounted for the largest share of the urinalysis market in 2019
The urinalysis market, by test type, is segmented into biochemical urinalysis, sediment urinalysis, and pregnancy & fertility tests.The pregnancy & fertility tests segment is estimated to account for the largest share of the urinalysis market in 2019 while the sediment urinalysis segment is estimated to witness the highest growth rate during the forecast period.
The rising incidence of UTIs and kidney diseases and the shift towards automation are the major factors driving the growth of this segment.
Disease screening segment accounted for the largest share of the urinalysis market in 2019
On the basis of application, the urinalysis market is segmented into disease screening and pregnancy & fertility.In the disease screening segment, UTIs have the largest market share.
Urine analysis has become a part of the general check-up in many countries and is used as a preliminary technique for screening for UTIs and other kidney diseases. This is followed by high throughput technique for diagnosing the diseases.
Hospitals and clinics segment accounted for the largest share of the urinalysis market in 2019
On the basis of end user, the urinalysis market is segmented into hospitals & clinics, diagnostic laboratories, home care settings, and research laboratories & institutes.Of all these end-user segments, hospitals & clinics accounted for the largest share of the urinalysis market in 2019.
The large share of this segment can be attributed to factors such as the rapidly growing aging population, the increasing global incidence of kidney diseases and UTIs, increase in reimbursements for clinical tests performed in hospitals among others.
North America dominated the urinalysis market in 2019
North America, which includes the US, & Canada, accounted for the largest share of the urinalysis market. The growth in this market is primarily driven by the increasing prevalence of UTIs and kidney diseases, rising geriatric population, favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and availability of technologically advanced urinalysis instruments in the region.
Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
• By Designation: C-level (30%), Director-level (20%), and Others (50%)
• By Region: North America (35%), Europe (24%), Asia (25%), and RoW (16%)
The major players operating in this market are Seimens Healthineers (Germany), Roche Diagnostics (Switzerland), Cardinal Health (US), Arkray Inc (Japan), Sysmex Corporation (Japan), Alere Inc. (US), Beckman Coulter (US), Bio-Rad Laboratories (US), 77 Elektronika Kft (Hungary), and DIRUI (China), ACON Laboratories (US), Quidel Corporation (US) and URIT Medical Electronic Ltd. (China). Product launches, partnerships and acquisitions are the key growth strategies followed by most players in this market.
Research Coverage
This report studies the urinalysis market based on product, test type, application end user and region.The report also analyzes factors (such as drivers, restraints and opportunities) affecting market growth.
It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total urinalysis market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on urinalysis offered by the top 13 players in the urinalysis market. The report analyzes the urinalysis market by type, application, and region
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various urinalysis across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the urinalysis market
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the urinalysis market
Read the full report: https://www.reportlinker.com/p04037721/?utm_source=PRN
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