Press release
Urinalysis Market size set to exceed USD 2.1 billion by 2023
Global Market Insights, Inc.
U.S. urinalysis market spurred North American industry revenue to over 510 million in 2015. Automated urine sediment analysers amenities such as fluorescence flow cytometry and digital imaging (morphology) along with increase in medical spending were the chief growth drivers.
Asia Pacific urinalysis market share may witness growth of over 7% CAGR up to 2023, mainly due to demand across India and China. Increase in advanced urine analysers adoption coupled with large number of untapped population is forecast to present attractive growth opportunities.
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Urinalysis test is a convenient and effective method to analyze urine sample to detect diabetes, urinary tract infection, and kidney disease. This test is also conducted to identify back pain, painful urination and abdominal pain symptoms. Rising kidney diseases owing to change in food consumption habits accompanied by growing concerns from geriatric population are among major industry drivers.
Instruments and consumables are the two key product types. Consumables segment led global revenue; increasing test strips and reagents usage due self-awareness were the key reasons to influence demand. Dipstick, disposables and reagents are the major consumables in the industry.
Growing incidences of chronic diseases due to change in lifestyle and environment has resulted in the need for quick and advanced tests. Dipstick is a diagnostic tool to identify substances in the urine related to metabolic disorders, UTI, and renal dysfunction.
Instrument urinalysis market share is set to observe growth of over 6% CAGR up to 2023. Biochemical, automated, and point-of-care (PoC) are the key instrument product types. Technological innovation in automated urine sediment analyzers and self-urine strip readers are among key factors to enhance industry growth.
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Wireless communication and compact PoC urinalysis instruments development facilitated simultaneous single-level access report results in hospitals is another promising factor to foster demand.
UTI, kidney diseases, diabetes, liver diseases, and hypertension are major applications. UTI application led global consumption and registered around 21% of the global volume in 2015. High penetration in hospitals as it is a frontline indicative tool, accompanied by growing medical awareness among women may augment growth.
This testing is used to diagnose several metabolic abnormalities and to detect diseases such as chronic kidney disease, urinary bladder cancer, and diabetes. Introduction of user-friendly, effective, and technologically advanced tools have augmented demand in these applications.
End-use segments include clinical laboratories, hospitals, home, research, and academics. Clinical laboratories were the dominant segment and accounted for around 35% of the global share in 2015. Growing concerns pertaining to hygiene and cleanliness accompanied by increase in number of hospitals and healthcare centers should positively drive demand.
Point of care and self-testing growth owing to advanced automated testing is projected to fuel home-based analysis growth. This segment is set to witness approximately 7% CAGR up to 2023.
Middle East & Africa urinalysis market is at a nascent stage; rising health consciousness and regulatory shift in focus towards resolving unmet medical needs is projected to result in considerable growth potential.
Affordable Care Act (ACA) scheme implementation in the U.S. is forecast to result in insurance coverage of more than 18 million people in the coming years. Government policies to promote health awareness accompanied by health insurance industry expansion may positively influence growth.
Inadequate healthcare facilities and infrastructure in underdeveloped countries are growth restraints. However, low urinalysis market price trend is forecast to meet the growing demand from low-income countries; and enhance demand in untapped regional industries due to the presence of large population.
Global urinalysis market share is predicted to mainly be driven by mergers & acquisitions and collaboration to expand regional presence. Key companies include Alere, Bio-Rad, ARKRA, Mindray, Sysmex, Roche Diagnostics, and Siemens Healthcare.
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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Global Market Insights, Inc.
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