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Renal Biomarkers Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Renal Biomarkers Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
It will grow to $1.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.” - The Business Research Company
LANDON, GREATER LANDON, UK, September 11, 2024 /EINPresswire / -- The global renal biomarkers market is projected to grow from $1.17 billion in 2023 to $1.27 billion in 2024, at a robust CAGR of 8.1%. This market's expansion is driven by factors such as the increasing prevalence of kidney diseases, advances in medical diagnostics, and the aging population. With further momentum, the market is expected to reach $1.74 billion by 2028 at a compound annual growth rate (CAGR) of 8.1%, maintaining a consistent CAGR of 8.1%. The continued growth in the forecast period will be supported by personalized medicine, targeted therapies, and the integration of biomarker testing into routine clinical practice.
Rising Demand for Renal Biomarkers: Impact of Geriatric and Pediatric Patients
The rise in geriatric and pediatric renal patients is expected to propel the growth of the renal biomarkers market. Geriatric patients, often over the age of 70, frequently suffer from advanced chronic kidney disease (CKD), while pediatric patients are typically diagnosed with renal disorders in childhood or young adulthood. Renal biomarkers play a crucial role in evaluating the severity of renal injury in these vulnerable populations. For instance, a 2021 report by the Centers for Disease Control and Prevention highlighted that nearly 37 million adults in the US have chronic renal disease, with a prevalence of 38% among adults aged 65 and older. This rising demand underscores the importance of renal biomarkers in managing these patient groups.
Explore comprehensive insights into the global renal biomarkers market with a detailed sample report:
Key Players and Technological Advancements
Major companies in the renal biomarkers market include Abbott Laboratories, BioPorto Diagnostics A/S, Roche Holding AG, Thermo Fisher Scientific, and bioMérieux SA, among others. These players are focusing on developing innovative technologies to sustain their market positions. A key example of this trend is RenalytixAI's partnership with DaVita in January 2021 to develop KidneyIntelX, an AI-powered diagnostic tool designed to assess the risk of renal disease or kidney failure. KidneyIntelX utilizes a machine-learning algorithm to generate patient-specific risk assessments based on blood biomarkers and electronic medical information.
Trends in Renal Biomarkers Market: Emerging Technologies and Applications
Several key trends are expected to shape the renal biomarkers market in the coming years. These include the development of multiplex biomarker panels for comprehensive disease profiling, the application of AI and machine learning in biomarker discovery, and the expansion of biomarker-based companion diagnostics. The adoption of point-of-care (POC) biomarker testing in home healthcare settings and the focus on biomarkers for early detection and prevention are also significant trends that will drive market growth.
Segments:
. Biomarker Type: Functional Biomarker, Upregulated Protein, Other Biomarker Types
. Diagnostic Technique: Enzyme-Linked Immunosorbent Assay, Particle-Enhanced Turbidimetric Immunoassay (PETIA), Colorimetric Assay, Chemiluminescent Enzyme Immunoassay (CLIA), Liquid Chromatography Mass Spectrometry (LS-MS)
. Application: Diagnosis And Disease Progression Monitoring, Research Homecare
. End User: Hospitals, Diagnostic Laboratories, Other End Users
Geographical Insights: North America Leading The Market
In 2023, North America dominated the renal biomarkers market, with significant contributions from major players and robust healthcare infrastructure. Looking forward, Asia-Pacific is expected to be the fastest-growing region, driven by the increasing prevalence of chronic diseases, growing healthcare investments, and the expansion of diagnostic capabilities in emerging markets.
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Renal Biomarkers Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Renal Biomarkers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on renal biomarkers market size, renal biomarkers market drivers and trends, renal biomarkers market major players, renal biomarkers competitors' revenues, renal biomarkers market positioning, and renal biomarkers market growth across geographies. The renal biomarkers market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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