The global renal function test market is set to experience significant growth, with revenues projected to reach USD 1,494.1 million by 2033, reflecting a 5.5% compound annual growth rate (CAGR) during the forecast period. Currently valued at USD 871.3 million in 2023, the market is poised for expansion due to the increasing prevalence of chronic kidney diseases, driven primarily by lifestyle factors.
Key Market Highlights:
Rising Incidence of Chronic Conditions
The renal function test market is largely influenced by the alarming rise in diabetes and hypertension rates worldwide. According to the World Health Organization, approximately 422 million people globally are living with diabetes, and more than one billion individuals suffer from hypertension-related complications. This growing demographic underscores the necessity for regular kidney function monitoring, making renal function tests essential for effective patient care.
Advancements in Home Testing Technologies
Recent technological advancements are reshaping the renal function testing landscape. Innovations such as digital urinalysis now allow patients with chronic kidney disease (CKD) to conduct regular tests in the comfort of their homes. This development not only alleviates the burden of lengthy hospital visits and expensive consultations but also empowers patients by providing timely access to test results. Medical practitioners can seamlessly evaluate these results, facilitating prompt diagnosis and treatment adjustments.
A Response to Lifestyle-Driven Health Challenges
The surge in cardiovascular diseases, attributed to sedentary lifestyles, poor dietary choices, and alcohol consumption, has made chronic kidney conditions increasingly prevalent. As healthcare systems around the globe strive to manage these challenges, the demand for renal function tests is expected to escalate, reinforcing their critical role in comprehensive patient management.
As the renal function test market continues to evolve, stakeholders are encouraged to leverage these trends to enhance patient outcomes and capitalize on the growing demand for kidney health assessments.
“The adoption of digital urinalysis (DU) for renal function tests is a watershed moment for patients diagnosed with chronic kidney diseases. DU not only eases the process but also gives quick results and makes regular assessments easy, affordable, and more feasible for price-sensitive individuals”, shares an FMI analyst.
Key Takeaways from the Renal Function Test Market Report:
- The United States has captured a substantial revenue share of 28.8% in the global renal function test market, followed by Germany, China, and Japan.
- The demand for renal function tests is rising in Europe as well, which showed a promising market share of 29.8% in 2022.
- Urine-based renal function tests are preferred the most by individuals due to their quick results and non-invasive nature.
- By test type, urine-based tests dominate the renal assessment market with a share of 62.4%.
- While the end-user category is segmented into hospitals, laboratories, and home care settings, hospitals top the global renal function test market, holding a market revenue share of 50.6%.
Growing Market Interest: Explore Comprehensive Insights and Trends with Our Detailed Report!
Recent Developments in Renal Function Test Market:
- IDEXX Laboratories launched renal function tests for pet animals like dogs and cats in June 2023. This is considered to be one of the first tests catered to veterinary doctors to reduce the deaths of animals due to kidney failures.
- In June 2023, Boditech Med and SphingoTec joined hands for the development of a renal function biomarker anticipated to provide precise kidney assessment information, which is crucial during renal replacement surgeries.
- Bloom Diagnostics, a Swiss medtech company, recently launched a new test designed to rapidly measure and quantify kidney function in users 18 years of age and older.
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:
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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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