Urinalysis Market To Surpass Market Valuation Of USD 8.97 Billion By 2031 | Skyquest Technology

2024-09-30 09:16:44

(MENAFN- GlobeNewsWire - Nasdaq) Revolutionizing Healthcare: The Urinalysis Market Expected to Expand from $4.28 Billion in 2023 to an Impressive $8.97 Billion by 2031, Achieving a Robust CAGR of 9.70%!

Westford, USA, Sept. 30, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Urinalysis Market will reach a value of USD 8.97 Billion by 2031 , with a CAGR of 9.70% during the forecast period (2024-2031). Many factors are driving this industry's growth, among them the growing incidence rate of conditions such as kidney disease, diabetes and urinary tract infections. Due to elevated blood pressure and blood sugar, kidney-related comorbidities affect about one-third of diabetics. A noninvasive and informative diagnostic tool that helps physicians diagnose kidney problems is urinalysis. Therefore, it is projected that the growing incidence of kidney diseases will boost demand for urinalysis-related products, propelling market expansion.

Browse in-depth TOC on the " Urinalysis Market"

Pages – 157

Tables – 62

Figures – 75

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Urinalysis Market Overview:

Report Coverage	Details
Market Revenue in 2023	USD 4.28 Billion
Estimated Value by 2031	USD 8.97 Billion
Growth Rate	Poised to grow at a CAGR of 9.70%
Forecast Period	2024–2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, End-User and Region
Geographies Covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights	Increasing adoption of point-of-care testing
Key Market Opportunities	Technological advancements in urine analyzers
Key Market Drivers	Rising cases of urinary tract infection

Urinalysis Market Segmental Analysis

Global Urinalysis Market is segmented by Product, Test Type, Application, End User, and region.

Based on Product , the market is segmented into Consumables, and Instruments.

Based on Test Type , the market is segmented into Pregnancy & Fertility Tests, Biochemical Tests, and Sediment Urinalysis.

Based on Application , the market is segmented into Disease Screening, and Pregnancy & Fertility Testing.

Based on End User , the market is segmented into Diagnostic Laboratories, Hospitals & Clinics, Home Care Settings, and Research Laboratories & Institutes.

Based on region , the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Instruments Type to Hold Significant Growth Due to Advancements in Diagnostic Technologies

Growing demand for accurate and efficient testing, automation, and improvements in diagnostic technologies have propelled the instruments type to its dominant position in the global urinalysis market. The use of automated urinalysis equipment has increased due to the rising prevalence of chronic illnesses including diabetes and renal problems. This has improved diagnostic speed, reliability, and scalability and strengthened their position as industry leaders.

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Hospitals End User to Lead the Market Due to High Volume of Patient Admissions

Due to the increasing number of patient admissions and the diagnostic requirements for managing chronic diseases such kidney and urinary tract disorders, hospitals hold a dominant position in the global urine analysis market. Hospitals continue to lead this market due to their sophisticated infrastructure and availability of automated diagnostic technologies, which facilitate quicker and more accurate testing and increase demand for urinalysis solutions.

North America to Dominate the Market Due to High Healthcare Expenditure and the Presence of Key Market Players

In terms of the worldwide urine analysis market, North America holds a dominant position. In North America, the presence of key market actors along with major health investments and highly developed health care facilities give rise to its preeminence. The employment of contemporary urine examination techniques such as automatic units and tests done at bedside in North America has enhanced diagnosis speed and accuracy.

Urinalysis Market Insight

Drivers:

Integration of Automated Urinalysis

Rising Healthcare Expenditures

Growing Demand for Point-of-Care Testing

Restraints:

privacy Concerns or Cultural Factors

Limited Reimbursement Policies

Risks of Inaccurate Results

Prominent Players in Urinalysis Market

Siemens Healthineers AG (Germany)
F. Hoffmann-La Roche Ltd. (Switzerland)
Cardinal Health (US)
Danaher (US)
Abbott (US)
Sysmex Corporation (Japan)
Thermo Fisher Scientific (US)
QuidelOrtho Corporation (US)
Becton, Dickinson and Company (US)
Bio-Rad Laboratories, Inc. (US)
EKF Diagnostics Holdings PLC (UK)
Arkray, Inc. (Japan)
ACON Laboratories, Inc. (US)
77 Elektronika Kft. (Hungary)
URIT Medical Electronic Co., Ltd. (China)
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
Dirui Industrial Co., Ltd. (China)
BIOBASE Group (China)
Erba Mannheim (Germany)
Alphatec Scientific E.I.R.L. (Peru)
Teco Diagnostics (US)
Analyticon Biotechnologies GmbH (Germany)
Bioway Biological Technology Co., Ltd. (China)
High Technology, Inc. (US)
Agappe Diagnostics Ltd (India)
Toyobo Co., Ltd. (Japan)
DIALAB GmbH (Austria)
Quantimetrix (US)
Biocare Corporation (Taiwan)
Randox Laboratories Ltd. (UK)
PZ Cormay S.A. (Poland)
YD Diagnostics (South Korea)
Contec Medical Systems Co., Ltd. (China)
Biopanda Reagents Ltd. (UK)

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Key Questions Answered in Global Urinalysis Market Report

What is the estimated market size for urinalysis worldwide by 2031, and what is the compound annual growth rate (CAGR)?

Due to the large number of patient admissions and diagnostic requirements, which end user dominates the urinalysis market?

Why is the global market for urinalysis predicted to be dominated by North America?

This report provides the following insights:

Analysis of key drivers (Early diagnosis of chronic diseases, improving access to diagnostic services, Expansion of healthcare infrastructure in emerging economies), restraints (Limited healthcare infrastructure, lack of skilled professionals to operate automated urinalysis equipment, adoption of new urinalysis technologies), opportunities (Home-based urinalysis testing, telemedicine solutions due to the growth of mHealth technologies, development of non-invasive urinalysis methods), and challenges (Complexity in regulatory approvals, managing large volumes of diagnostic data) influencing the growth of urinalysis market.

Market Penetration : Comprehensive information on the product portfolios offered by the top players in the urinalysis market
Product Development/Innovation : Detailed insights on the upcoming trends, R&D activities, and product launches in the urinalysis market
Market Development : Comprehensive information on lucrative emerging regions
Market Diversification : Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment : In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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