Albumin & Creatinine Tests Market 2021 Size, Share, Upcoming Industry Trends, Business Development Analysis, Segmentation and Forecast by 2025

Albumin & Creatinine Tests Market by Product (Analyzers, Cartridges (PoC, Tabletop), Dipsticks, Kits, Reagents), Type (Blood & Urine Creatinine, Urine Albumin, Glycated Albumin), Enduser (Hospital, Diagnostic & Research Labs) - Global Forecast to 2025

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“Growth prevalence of kidney disorders, and the rising adoption of POC diagnostics are expected to drive the market.”

The global albumin & creatinine tests market size is valued at an estimated USD 987 million in 2020 and is projected to reach USD 2,103 million by 2025, at a CAGR of 16.3% during the forecast period. The growth of the global albumin & creatinine tests market is driven by factors such as growing prevalence of kidney disorders, the rising adoption of POC diagnostics, and the increasing prevalence of chronic conditions. However, factors like unfavorable healthcare reforms in the US and the high cost of automated analyzers are hampering the growth of the albumin & creatinine tests market during the forecasted period.

“The dipstick & kits segment accounted for the highest growth rate in the albumin & creatinine tests market, by product, during the forecast period “

Based on product, the albumin & creatinine tests market is segmented into dipsticks & kits, analyzers, cartridges, and reagents & other consumables. In 2019, the dipsticks & kits segment accounted for the largest share in this market. The frequent purchase of these products compared to instruments like analyzers and cartridges and the increasing use of kit-based rapid techniques for albumin & creatinine tests drive market growth.

“Urine Tests segment accounted for the highest CAGR”

Based on type, the albumin & creatinine tests market is segmented into urine tests and blood & serum creatinine tests. In 2019, urine tests accounted for the largest share in this market. Factors such as the rapid growth in the diagnostics segment and the increasing demand for rapid and easy-to-use urine tests drive the growth of this segment.

“Asia Pacific: The fastest-growing region albumin & creatinine tests market”

The Asia Pacific albumin & creatinine tests market is estimated to grow at the highest CAGR, mainly due to the expansion of key market players in emerging Asian countries, increasing expenditure on life science and medical research in the region, and the increasing geriatric population and prevalence of chronic conditions in Asian countries such as India and China.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
By Designation: C-level - 30%, D-level - 20%, and Others - 50%
By Region: North America - 36%, Europe - 25%, Asia Pacific - 27%, Latin America – 9%, and Middle East and Africa – 3%.

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List of companies profiled in the report:

Thermo Fisher Scientific, Inc. (US)
Roche Diagnostics (Switzerland)
PromoCell GmbH (Germany)
Abbott Laboratories (US)
Siemens Healthineers (Germany)
Danaher Corporation (US)
Sysmex Corporation (Japan)
Ortho Clinical Diagnostics (US)
Randox Laboratories (UK)
FUJIFILM Wako Pure Chemical Corporation (Japan)
Abbexa Ltd. (UK)
ACON Laboratories, Inc. (US)
Arbor Assays Inc. (US)
ARKRAY Global Business Inc. (Japan)
Aviva Systems Biology (US)
Axxora, LLC (UK)
BioAssay Systems (US)
Nova Biomedical (US)
Quantimetrix Corporation (US)
RayBiotech Inc. (US)
Sekisui Diagnostics PEI Inc. (US)
Teco Diagnostics (US)
Tulip Diagnostics (India)
ulti med Products GmbH (Germany)
URIT Medical Electronic Co., Ltd. (China)

Research Coverage:

This report provides a detailed picture of the global albumin & creatinine tests market. It aims at estimating the size and future growth potential of the market across different segments, such as product, technique, application, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall albumin & creatinine tests market and its sub segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, challenges, and trends.

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This release was published on openPR.