The global Kidney Function Tests market size is expected to be worth around US$ 2.25 billion by 2030, according to a new report by Vision Research Reports.
The global Kidney Function Tests market size was valued at US$ 777.06 million in 2020 and is anticipated to grow at a CAGR of 6.6% during forecast period 2021 to 2030.
The introduction of innovative products, increasing R&D investments, and growing prevalence of kidney diseases are expected to propel market growth over the forecast period. Key players operating in the market are involved in extensive R&D initiatives for the development and launch of novel products to strengthen their position in the market.
For instance, in August 2020, RenalytixAI, a U.K.-based in vitro diagnostics company, submitted a 510(k) application to the FDA for its new KidneyIntelX assay. It is an (AI)-enabled clinical diagnostic test designed to diagnose and enhance the clinical management of Type II diabetes patients with fast-progressing kidney disease. The emergence of such technologically advanced products is expected to impel market growth during the study period.
According to the data published by the CDC, in 2019, an estimated 15% of adults in the U.S. had Chronic Kidney Disease (CKD). The same source also stated that diabetes and high blood pressure are the major causes of CKD in adults, and CKD is more common in people aged 65 years or older. However, the low diagnosis rate of CKD is anticipated to be a major factor hampering the market growth. As per the data published by the National Kidney Foundation, approximately 90% of people suffering from CKD are not aware of it, leading to a limited number of diagnoses.
In 2020, the clearance tests segment accounted for the major market share of 28.73% and is expected to hold its dominance during the study period. Clearance tests are the gold standard for monitoring and measurement of glomerular filtration rate. These products include creatinine and inulin test, which provides an important addition to traditional diagnostic tests to obtain precise results. Moreover, these tests ensure that there is minimal variation in performance owing to their optimum sensitivity and precision. The low cost and easy availability of these products in the market lead to their increased adoption.
The urine tests segment is expected to register the fastest CAGR over the forecast period. This can be attributed to the wide array of applications of these products including detection of Urinary Tract Infections (UTIs), diabetes, high blood pressure, kidney stones, pregnancy, etc. Moreover, detection of prescription drug abuse, which can be done with the help of urine tests and an increase in PoC diagnostics coupled with the low cost of these tests are expected to boost the segment growth.
The hospitals segment held the largest market share of 53.89% in 2020 and is projected to retain the leading position throughout the forecast period. This high share is attributed to increasing hospital visits due to the rising awareness about CKD and its treatment. Moreover, the development of sophisticated infrastructures across various regions, which help in performing efficient diagnostic procedures will contribute to the segment’s share.
Favorable reimbursement scenarios coupled with initiatives taken by healthcare organizations across the globe to promote the use of advanced diagnostic tests are also predicted to drive the segment. The diagnostic laboratories segment is also anticipated to account for a significant market share by 2028 as these labs are cost-effective, can conduct a large number of tests, and provide accurate results. The research laboratories and institutes segment is expected to register the fastest CAGR over the forecast period owing to increasing R&D activities in regions, such as North America and Europe.
North America held the largest market share of 39.10% in 2020 and is expected to maintain its dominance throughout the study period on account of well-established healthcare infrastructure, high awareness levels about CKD, and favorable reimbursement policies & government initiatives. The U.S. accounted for the leading share in North America regional market. Key factors contributing to its dominance include the local presence of major market players and the easy availability of technologically advanced products.
Asia Pacific is projected to be the fastest-growing regional market over the forecast period due to the rapidly developing healthcare facilities and an increase in investments by leading market players. Furthermore, the presence of a large target population in emerging countries, such as China and India, is expected to drive the regional market during the forecast period. For instance, according to the data published by the NCBI, the overall prevalence of CKD in India is around 17.20%.
Danaher Corporation (Beckman Coulter, Inc.)
F. Hoffmann-La Roche
Laboratory Corporation of America Holdings (LabCorp)
Dilution and Concentration Tests
Research Laboratories and Institutes
The Kidney Function Tests market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Kidney Function Tests market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Kidney Function Tests market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Kidney Function Tests market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Kidney Function Tests market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Kidney Function Tests capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Kidney Function Tests by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Kidney Function Tests market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Kidney Function Tests market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Kidney Function Tests market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Kidney Function Tests industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Kidney Function Tests market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Kidney Function Tests market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Kidney Function Tests market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Kidney Function Tests market. These factors have benefited the growth of the global market for Kidney Function Tests. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Kidney Function Tests. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Kidney Function Tests are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Dystrophic Epidermolysis Bullosa Treatment Market (By Treatment Type: Antibiotics, Corticosteroids, Opioid Analgesics, Anticonvulsant, Others; By Disease Type: DDEB and RDEB; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030Read more...
Bromelain Market (By Application: Food & Beverages, Healthcare & Pharmaceuticals, Cosmetics, and Other Industries; By Source: Stem and Fruit) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030Read more...
Chronic Idiopathic Constipation Treatment Market (By Drug Class: Serotonin-4 [5-Ht4] Receptor Agonist, Guanylate Cyclase-C Agonist, Laxatives, Stimulants, Others; By Route of Administration: Oral and Rectal; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030Read more...
Hemoglobin Feed Market (By Source: Bovine, Swine, Poultry, Shark, Synthetic, Others; By Application: Industrial and Commercial) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030Read more...
Respiratory Virus Infection Drugs Market (By Drug Type: Cough Suppressants, Antibiotics, Non-Steroidal Anti-Inflammatory Drugs [NSAIDS], Nasal Decongestants, and Others; By Infection Type, By Route of Administration, By Mode of Purchase, By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030Read more...