Urinalysis Market Worth $2.21 billion by 2027
According to this latest publication from Meticulous Research, the global urinalysis market is expected to grow at a CAGR of 5.4% from 2019 to 2027 to reach at $2.21 billion by 2027.
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The growth of urinalysis market is mainly attributed to the rising prevalence of kidney diseases and urinary tract infections, growing regular health checkups by geriatric population, and introduction of technologically advanced diagnostic products. Introduction of integrated systems for urinalysis offers a significant growth opportunity for the players operating in this market. However, ambiguity in regulatory framework is the key factor expected to hinder the adoption of urinalysis products to certain extent.
The global urinalysis market study presents historical market data in terms of values (2017 and 2018), current data (2019), and forecasts for 2027- by product [consumables (pregnancy & fertility tests, dipstick, and other consumables), instruments (automated urine analyzers, biochemical urine analyzers, sediment urine analyzers, semi-automated urine analyzers, integrated urine analyzers, and point-of-care analyzers)], application [urine tract infections, kidney diseases, diabetes, and other diseases; and pregnancy & fertility testing], end user [hospitals and clinics, diagnostic laboratories, home care settings, and research laboratories and institutes] - forecast to 2027. The study also evaluates industry competitors and analyzes the market at regional and country level.
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On the basis of product, the market is broadly segmented into consumables and instruments, such as biochemical urine analyzers, sediment urine analyzers, semi-automated urine analyzers, integrated urine analyzers, and point-of-care analyzers. In instruments market, biochemical urine analyzers accounted for the largest share in 2019. Key factors contributing to its largest share are its higher utilization by end users owing to the advantages such as qualitative analysis of various analytes in the urine; measurement of specific gravity, color tone, and turbidity; and its availability in the bench top model so as to be used in various clinical laboratories, hospitals, and clinics.
On the basis of application, the kidney disease screening segment held the largest share of the overall urinalysis market in 2019. However, the diabetes segment expected to register the fastest growth during the forecast period. Increasing number of diabetic patients, growing awareness regarding increasing prevalence of diabetes and its associated causes, and growing utilization of urinalysis modalities for routine analysis of diabetes to control further implications are some of the major factors propelling the growth of the market for this application segment.
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Based on the end user, in 2019, the diagnostic laboratories segment accounted for the largest share of the overall urinalysis market. However, the hospitals & clinics segment showcases the significant growth opportunity during the forecast period. Traditional health care settings with wide presence, easy accessibility, and better healthcare infrastructure; expanding in-house diagnostic facilities by large number of hospitals; and growing adoption of various urinalysis products in the hospital's diagnostic laboratories are some of the key factors driving the growth of the urinalysis market for this end user segment.
Geographically, North America accounted for the largest share of the overall urinalysis market in 2019, followed by Europe, and Asia Pacific. Higher awareness level regarding general health check to prevent chronic diseases among people, growing installations of automated devices in the large hospitals and laboratories, rising focus on miniaturization of diagnostic devices, and high healthcare expenditure are some of the key factors accelerating the urinalysis market in the North American region.
The key players operating in the global urinalysis market are Bio-Rad Laboratories, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Sysmex Corporation (Japan), ARKRAY, Inc (Japan), ACON Laboratories, Inc. (U.S.), Cardinal Health, Inc. (U.S.), URIT Medical Electronic Group Co., Ltd. (China), and 77 Elektronika Kft. (Hungary) among others.
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Key questions answered in the report-
Which are the high growth market segments in terms of product, application, end-users, and region/countries?
What was the historical market for urinalysis across the globe?
What are the market forecasts and estimates for the period 2019-2027?
What are the major drivers, restraints, opportunities, and challenges in the global urinalysis market?
Who are the major players in the urinalysis market?
How is the competitive landscape and who are the market leaders in the global urinalysis market?
What are the recent developments in the global urinalysis market?
What are the different strategies adopted by the major players in the global urinalysis market?
What are the geographical trends and high growth regions/ countries?
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Meticulous Research? was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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