A kidney function test is used to diagnose and examine problems with the kidney’s overall function. In order to verify that the kidney is filtering waste materials, blood or urine samples are used. Blood in the urine, swelling in the hands or feet, and trouble urinating owing to a considerable increase in bodily fluids are some of the typical signs of kidney-related issues.
The market worth of kidney function tests in 2021 was USD 828.57 million, and it will be worth USD 1476.53 million by 2030, growing at a 6.63% CAGR during the forecast period.
The rapid growth of the market is due to the rising rate of hypertension, kidney disease, type 2 diabetes, and the rapidly growing geriatric population. Additionally, alcohol consumption is also contributing to the market’s overall expansion.
Major factors accelerating the growth of the kidney function test market are the increased prevalence of chronic kidney diseases (CKD) and acute kidney injury (AKI). This can be attributed to evolving lifestyles, rising alcohol use, and an increase in the number of people with diabetes and hypertension. In addition, major businesses are spending money on research and development (R&D) projects in order to introduce enhanced testing products that enable rapid and accurate disease diagnosis. Additionally, rising healthcare costs and the availability of a well-established healthcare infrastructure both support market expansion.
The major factor restraining market expansion are the high cost of kidney disease testing methods and authoritarian synchronization.
For the welfare of the nation, a number of public-private companies are launching measures to streamline the kidney disease testing procedure overall. For instance, the National Kidney Foundation and the National Committee for Quality Assurance collaborated in July 2020 will launch a new quantitative kidney health appraisal program targeted exclusively at patients with Type-2 diabetes. The new advice suggests a routine test for people with renal disorders who have type 2 diabetes. Such activities will create a favorable atmosphere for market growth.
The clearance test segment led the entire market with the largest share of 28.5% in 2022. The gold standard for tracking and calculating glomerular filtration rate is clearance testing. These items contain tests for creatinine and inulin, which are crucial supplements to conventional diagnostic procedures in order to get accurate results.
The urine testing market segment will grow significantly at a CAGR of 7.61%. Urea measurement is one of the most popular methods for evaluating renal function. Clinical tests that are essential for identifying renal disease and dysfunction include studies of urine, plasma, and serum urea.
Due to the increase in hospitalization, the hospital segment had 40.90% of the market share in 2022. This is because doctors need diagnostic interpretation for additional therapy. Typically, diagnostic centers work in tandem with hospitals; as a result, hospitals have their diagnostic infrastructure. Additionally, as healthcare infrastructure continues to be developed, it is expected that existing hospital facilities will be improved, leading to an expansion of their services and capabilities. Therefore, this growth may increase consumer demand for goods like renal function testing, propelling the market.
In terms of revenue, North America ruled the market in 2022. This supremacy is a result of strong healthcare infrastructure, widespread knowledge of CKD, advantageous payment regulations, and proactive government programs. Additionally, the region’s top producers are concentrating on creating cutting-edge goods. For example, Abbott HealthTab, Inc. and Abbott inked a non-assignable pilot supplier distribution agreement for the i-STAT Alinity, a handheld blood chemistry analyzer, in November 2021.
Asia Pacific will experience the fastest growth rate with an 8.34% CAGR as a result of the region’s increasing renal disease prevalence. For instance, the Australian Institute of Health and Welfare estimates that approximately 17,700 people will die from CKD in 2020.
- Siemens Healthcare GmbH
- Hoffmann-La Roche Ltd.
- Sysmex Corporation
- Randox Laboratories
- Beckman Coulter
- ARKRAY Inc.
- Opti Medical
- Nova Biomedical
- Acon Laboratories
- Medical Care
- Cook Medical
- 77 Elektronika
- Boston Scientific
The market worth of kidney function tests in 2021 was USD 828.57 million, and it will be worth USD 1476.53 million by 2030, growing at a 6.63% CAGR during the forecast period. The market is expanding rapidly as a result of a number of factors, including rising government initiatives, rising R&D activity, a high frequency of renal illnesses, and technical innovations.