Urinalysis Market Expected to Behold a CAGR of 5.4% through 2016-2024

The global market for urinalysis has been growing at a fast rate due to increased incidence of diabetes among people across the globe. On a global scale, the major cause of end-stage renal disease and kidney failure is diabetes. The International Diabetes Federation (IDF) found that approximately 338 million new cases of diabetes were recorded in 2014, while as many as 3.2 million suffered from end-stage renal disease (ESRD) in 2015.

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Urinalysis is a set of tests for detecting some common diseases such as kidney disorders, diabetes, liver problems, and urinary tract infections. The test consists of several microscopic, visual, and chemical examinations that identify cells, levels of creatinine, epithelial cells, and substances such as casts or crystals in the urine. These detections are crucial in the process of disease diagnosis. These tests are also conducted during routine pregnancy check-ups, when one is admitted to the hospital, and even before a surgery.

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The global market for urinalysis is expected to grow steadily with a CAGR of 5.4%. In 2015, the market was valued at US$929.9 mn, which will rise to US$1.5 bn by the end of 2024.

By Test Setting, Laboratory-based Segment to Continue to Grow

In terms of test setting, the urinalysis market was dominated by the laboratory-based segment in 2015 and is expected to continue to hold its dominant position over the coming years. This development is due to the increasing geriatric population, increased frequency of unhealthy lifestyles, and growing incidence of infectious diseases worldwide.

On the basis of type of test, the biochemical segment lead the urinalysis market in 2015, on account of the widely accepted usage of dipsticks (reagent strips) that detect the presence of constituents in urine. Also, it is convenient to operate this technique as it is readily available. The hospital segment leads the market in terms of end users in the global market for urinalysis.

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Among the key products in the urinalysis market, consumables occupy the foremost position. High rate of acceptance of single-use, rigid, and sterile disposable products is boosting the growth of this segment. Under the consumables segment, plastic consumables will emerge as a terrain for immense opportunities.

Japan at Headmost Position in Asia Pacific Segment

Among the key geographical segments, it was North America that led the global market in 2015, accounting for a nearly 30.0% share. The U.S. is home to around 26 million kidney patients, according to the findings of National Kidney Foundation. Increasing incidence of urinary tract infections in the U.S. is also responsible for the expansion of the urinalysis market in North America. Latin America, too, will grow at an impressive CAGR between 2016 and 2024. The key reasons for growth are favorable government policies, massive population base, and a large patient pool.

Asia Pacific is projected to be a major market furnishing lucrative opportunities, with Japan at the foremost place. An increase in aging population, rapid industrialization, growing number of laboratory diagnosis tests, and high adoption of point-of-care testing have been the major reasons for Japan’s rise as a key regional market. Apart from Japan, India and China are also expected to expand their urinalysis market on account of numerous infrastructural development projects.

The major companies in the global urinalysis market include Danaher Corporation (Beckman Coulter, Inc.), ARKRAY, Inc., Sysmex Corporation, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Siemens Healthineers, 77 Elektronika Kft, and Mindray Medical International Limited.

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This release was published on openPR.