(MENAFN- GetNews) Market Research Future (MRFR) has published a detailed report stating the Global Urinalysis Test Market. The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies and the latest R&D initiatives is also available in the report.
Urinalysis Test Market - Overview
Global Urinalysis Test Market that expects an extension for this market at 6.3% CAGR (Compound Annual Growth Rate) between 2016 and 2023. Regarding value, the market is expected to be worth the US $ 698.5 mn by the end of the forecast period. Urinalysis is defined as a urine test to detect and manage disorders such as urinary tract infections (UTIs).
The vital factors aiding the global urinalysis test market growth are developing technology in the field of diagnostics, increasing demand for point of care testing devices, and the rising prevalence of chronic ailments. Some other factors leading to market growth are cost-effectiveness of the test and growing demand for automated urine analyzers. However, the market growth can be hurt by the lack of trained professionals and stringent regulations governing the manufacturing as well as the sales of chemistry analyzers.
Key Players
The key players in the global urinalysis test market include ACON Laboratories Inc. (USA), ARKRAY, Inc. (Japan), Bio-Rad Laboratories Inc. (USA), Dahaner (USA), F. Hoffmann-La Roche Ltd (Switzerland), Siemens AG (USA), and Sysmex Corporation (Japan).
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Latest Industry News
- London-based digital health company TestCard has raised $1.7 mn (£1.25 mn) in seed funding from Neo Ventures; a small Bulgarian investment firm focused on accelerating European startups. they are going to use these funds to enter the smartphone-enabled home urinalysis market. 25 SEP 2018
- Siemens Healthineers has partnered with Israeli startup Healthy.io in order to allow patients to test their urine at home by using a smartphone camera that scans a dipstick and sends the results to their doctor. 24 OCT 2018
Segments:
The global urinalysis test market has been segmented on the basis of application, end user, product type, test type, and lastly region. The application-based segmentation segments this market into disease diagnosis, pregnancy tests, and others. Disease diagnosis has been sub-segmented into diabetes, kidney disease, and liver disease. Pregnancy tests segment held the largest market share in 2016. Based on the end user, the market has been segmented hospitals, independent laboratories, and physician practices.
Based on product type, the market has been segmented into the instruments and the consumables. The instruments are urine chemistry analyzer that has been sub-segmented into automatic urine analyzers, semi-automatic urine analyzers, automated urine sediment analyzers, point-of-care devices, and strip analyzer. The consumables have been sub-segmented into chemical agents, plastic consumables, and test strips. The consumables hold the larger market share.
By test type, the market has been segmented into biochemical urinalysis, macroscopic urinalysis, and sediments/microscopic urinalysis. During the forecast period, sediments/microscopic urinalysis is expected to rise as the fastest growing segment, at a CAGR of 7.13%.
Regional Analysis:
The regional segmentation of the global urinalysis test market segments the market into regional markets known as The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). The Americas is the leading regional market because North America alone holds the potential anyway to be the biggest regional market. In the Americas (primarily in North America), the market is huge due to the rising demand for automated urine analyzers, the rising prevalence of kidney as well as liver ailments, and technological advancement. In North America, the USA holds the largest market share due to the high purchasing power of people and the presence of the major market players manufacturing urine analyzers and consumables. Another important country-specific market in this region is Canada. South America is a smaller market compared to North America as the purchasing power of people is low. However, Argentina and Brazil are two strong economies in this region that can emerge as big markets in the near future. By the end of forecast period, The Americas as a regional market has been expected to be worth the US $ 594.21 mn.
Europe is the second largest regional market for urinalysis tests. During the forecast period, this region is expected to grow continuously at the steady growth rate due to increased prevalence of chronic ailments, availability of cost-effective treatments, and growth in the government funding for research and development (R & D) activities. Due to reasons similar to the Americas, Western Europe is a bigger market than Eastern Europe. The most important country-specific markets in this region are France, Germany, Italy, Spain, and the UK, followed by the remaining countries of Western Europe and then Eastern Europe.
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During the forecast period, the Asia Pacific region is expected to emerge as the fastest growing market, mainly due to changing lifestyle, increasing the prevalence of chronic ailments, and rising demand for urine analyzers by the healthcare providers. Other reasons contributing to the market growth are diabetes being a major the health problem in this region and high geriatric population. Significant country-specific markets in this region are Australia, China, India, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
The MEA region also shows a steady rise in the market owing to the rising demand for diagnostic solutions and point of care testing devices. The key country-specific markets in this region are Kuwait, Oman, Qatar, Saudi Arabia, and UAE, followed by the remaining countries of the MEA region.
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