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The Urinalysis Market accounted for USD 3.68 Billion in 2020 and is expected to reach USD 6.91 Billion by 2028, growing at a CAGR of 8.2% from 2021 to 2028.
— Prakash Torase
SUITE N202, NEW YORK, UNITED STATES, September 12, 2022 /EINPresswire.com/ — With the presence of a large pool of participants, the global urinalysis market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Roche Diagnostics, ACON Laboratories Inc., Alere Inc., Teco Diagnostics, Olympus Corp., Fujifilm Holding Corp., Mindray, Siemens Healthcare, and Bio-Rad laboratories are some of the key vendors of urinalysis across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the urinalysis market study.
In a major boost to urinalysis market, U.S. FDA has provided a Class II approval to Smartphone- enabled urinalysis kit Dip.io manufactured by Healthy.io. As per the company sources, users can test their urine through Smartphone at home and share the data with their healthcare service provider.
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Rise in Elderly Population Prone To Chronic Ailments To Spur Market Growth.
“Growing cases of kidney disorders, diabetes, urinary tract infection, high blood pressure, and liver problems witnessed among the patient population base across the globe will drag the growth graph of urinalysis market in upward direction,” says the author of this study. Apart from this, rising geriatric population coupled with launching of technologically advanced diagnostics systems is forecast to further fuel the urinalysis market demand in the near future.
Strict government rules and poor healthcare infrastructure facility witnessed in developing countries, however, can hinder the urinalysis market development over the next few years. Nevertheless, unmet medical requirements observed in the developed economies and humungous target population base will generate lucrative opportunities for the urinalysis industry, normalizing the impact of hindrances on the business, reports the urinalysis market study.
Strong Presence of Pharma Firms to Help North America Maintain Dominance
Regionally, North America has been leading the worldwide urinalysis market and is anticipated to continue on the dominant position in the years to come, states the urinalysis market study. The presence of a well-established pharmaceutical sector is the main factor behind the dominance of the North America urinalysis market. Furthermore, the burgeoning occurrence of chronic ailments along with increase in the levels of patient awareness will steer the urinalysis market expansion in the region.
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Browse the full “Urinalysis Market By Product Segment Analysis, (Consumables, Instruments), By Application Segment Analysis (Kidney Diseases, Hypertension, Urinary Tract Infection, Diabetes, Liver Diseases, Others) Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2021 – 2028.
COVID-19 Impact Analysis
COVID-19 pandemic has caused both economic and social disruption. Owing to COVID-19, the other minor disease market have been severely affected. As with the increasing COVID-19 the peoples have reduced the check-ups and diagnosis of minor diseases owing to the fear of COVID-19. People have minimized the routine check-ups of UTIs and others owing to COVID situations in the hospital. Lockdown in various countries also led to decrease medical tourism impacting the market growth
Urinalysis Market is expected to grow tremendously owing to growing prevalence of kidney disease sand urinary tract infections. The growing occurrence of target diseases, such as Urinary Tract Infections (UTI), kidney diseases, and diabetes with the increase in the new advanced technology, rapid, non-invasive, and user-friendly tools for urinalysis are projected to be the major growth drivers of this market. As now a days, there is vast increase of the diseases in the growing population, which is the reason of the increasing awareness regarding the regular health check-ups which is anticipated to increase the growth of the urinalysis market.
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Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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