The global renal function test market size and revenue are projected to reach US$ 1,494.1 million by 2033, with a 5.5% CAGR anticipated over the forecast period. Renal function test sales are projected to reach US$ 871.3 million in 2023.
The market for renal function tests is expanding significantly due to increased attention being paid to kidney health diagnostics. Renal function tests have become more and more in demand as the prevalence of illnesses related to the kidneys has increased. The market is growing as a result of improved diagnostic technology and growing awareness of the value of early detection.
Furthermore, the incorporation of cutting-edge diagnostic techniques and improvements in healthcare infrastructure have fueled the accessibility and uptake of renal function testing. As the state of the world’s healthcare emphasises preventative efforts for kidney health, the market for renal function tests will always be essential in offering important information for prompt intervention and individualised patient care.
Public & Private Healthcare Organizations are Supporting Management of CKD through Programs & Initiatives
Increasing incidences of renal failure, and chronic kidney diseases (CKD) are considered to be the primary factors responsible for the significant demand for renal function tests. Unhealthy dietary habits, lack of physical exercise owing to hectic lifestyles, and stress, are commonly observed risk factors for diabetes, coronary heart diseases, hypercholesterolemia, and hypertension. These factors further lead toward dysfunctions in the kidney, which in turn creates demand for renal function tests. Surging number of people with diabetes who are highly susceptible to CKD are expected to propel the demand for renal function tests in the upcoming years. The resultant high sample volume is creating demand for highly effective and efficient renal function testing devices.
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Awareness about diagnostic benefits related to renal function tests is increasing among people. The advent of technologically advanced products associated with renal function tests such as automated analyzers has resulted into refinement of present point-of-care real-time testing capabilities. In addition, the private as well as public healthcare organizations are consistently striving to support the diagnosis and management of chronic kidney diseases through various programs and initiatives, thereby creating awareness and demand for renal function tests.
Key Takeaways:
- North America will continue to be dominant in the global renal function test market, in terms of revenues. Between renal function test market in Europe and Asia-Pacific excluding Japan (APEJ), the former will account for a larger revenue share and the latter will register a relatively higher CAGR through 2026. The renal function test markets in Middle East & Africa (MEA) and Japan are projected to account for the lowest revenue share of the market throughout the forecast period.
- On the basis of product type, dipsticks are expected to be the leading contributor to the market growth, in terms of revenues. Revenues from sales of disposables and reagents are projected to register a relatively faster expansion, and will collectively account for over two-fifth share of the market during the forecast period.
- Hospitals are anticipated to remain the most lucrative end-users in the global renal function test market, with sales estimated to surpass US$ 450 Mn in revenues by 2026-end. Diagnostic laboratories are expected to remain the fast-expanding end-users of renal function tests through 2026. Revenues from renal function tests in diagnostic laboratories are projected to account for nearly one-third share of the market by 2026-end. Research institutes will continue to be the least lucrative end-users of renal function tests.
- In terms of test type, urine protein and microalbumin renal function test are together projected to account for over three-fifth revenue share of the market during the forecast period. Revenues from microalbumin renal function test will register the highest CAGR in the market through 2026. In addition, revenues from urine protein and serum creatinine renal function test are projected to increase at nearly equal CAGRs through 2026.
Vendors in the global renal function test market are focusing on technological advancements through clinical trials. The intensive competitive landscape of the market is resulting into increasing mergers & acquisition activities, wherein smaller firms are acquired by well-established international vendors.
Key Companies in the Market
- F. Hoffmann-La Roche Ltd.
- Siemens Healthineers
- Beckman Coulter (Danaher)
- Abbott Laboratories Baxter International
- Quest Diagnostic Incorporated
- Sysmex Corporation
- Laboratory Corporation of America Holdings (LabCorp)
- Randox Laboratories
- ACON Laboratories
- Arkray
- Nova Biomedical
- Idexx Laboratories
- Opti Medicals
- Elektronika
- Cook Medical
- VedaLab
- Dx Gern Corp
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Key Segments Covered in Renal Function Test Market Report
By Product Type:
- Dipsticks
- Disposable
- Reagents
By Test Type:
- Urine
- Blood Test
By End User:
- Hospitals and Clinics Diagnostic laboratories
- Research Laboratories and Institutes
- Home Care Settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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