Global Urinalysis Market To Be Driven By Growing Geriatric Population In The Forecast Period Of 2022-2027
The new report by Expert Market Research titled, ‘Global Urinalysis Market Size, Share Report and Forecast 2022-2027’, gives an in-depth analysis of the global urinalysis market, assessing the market based on its segments like products, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): Approximately USD 1.9 billion
- Forecast CAGR (2022-2027): 8%
The growing elderly population in developed and developing countries is driving the global market for urinalysis. The deskbound lifestyle among working individuals causes a health crisis among the public in many locations, driving the need for enhanced diagnostics, particularly urinalysis. As a result, increased public awareness of the importance of frequent health screenings is a major driver of market growth. The increased prevalence of chronic diseases and the adoption of point-of-care diagnostics are driving market expansion. Meanwhile, the quality of the healthcare infrastructure and the lack of some items may impede the growth. However, ongoing expansion activities by key players are estimated to tackle any such hurdles in the coming years.
Industry Definition and Major Segments
Urinalysis refers to a type of test performed to analyse urine samples, detect diseases related to kidney, urinary tract infection, and diabetes. The key motive of the test is to monitor health conditions. In addition, it is carried out as regular medical check-ups, pre-surgery preparation, or as a part of dope tests.
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The major products of urinalysis are:
- Biochemical Urine Analyser
- Automated Urine Sediment Analysers
- Biochemical Urine Analyser
The market can be segregated based on its application segments into:
- Urinary Tract Infections (UTI)
- Kidney Diseases
- Liver Diseases
The end uses for urinalysis are:
- Clinical Laboratories
- Home Healthcare
- Research and Academics
The regional markets for urinalysis include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Due to the higher frequency of chronic kidney disease and the growing geriatric population, North America is the significant region for urinalysis. Meanwhile, due to a high penetration rate of enhanced urine analysers and the presence of emerging manufacturers, the Asia Pacific region is expected to rise rapidly. The usage of urinalysis for drug tests in organisations and at specific participatory events is becoming increasingly common, which is boosting the demand for the products. Another aspect boosting this sector is the rising prevalence of diabetes. The large volume of procedures linked with these establishments, and different technological advancements in the product, are propelling the market forward.
Key Market Players
The key players in the market are Sysmex Corporation, Abbott Laboratories, ACON Laboratories Inc., Bio-Rad Laboratories Inc., and ARKRAY Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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