Health & Safety Industry Today
Worldwide Urinalysis Test Market By Test Type is Expected to Reach USD 698.85 Million and CAGR by 6.3% till 2023
Urinalysis is a type of testing which is performed by evaluating the chemical, visual, and microscopic studies to detect cell fragments and substances such as crystals or casts in the urine. Urinalysis testing is a cost-effective, non-invasive test used as an indicator of health or disease. The urinalysis testing ranges from manual reading of a visual urine test strip to the use of semi-automated analyzers to loading the sample on a fully automated urine chemistry analyzer. Rising demand for point-of-care testing and increasing prevalence of chronic diseases are the major drivers for the market growth. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), the overall prevalence of Chronic Kidney Disease (CKD) in the general population is approximately 14%. Moreover, it was estimated that more than 70 % of medicare spending for CKD patients aged 65 and older was incurred by those who also had diabetes, congestive heart failure, or both. Additionally, technological advancements boosts the market growth during the forecast period. Urinalysis is known to be the potential tool for physicians. Technological advancement is has found to improve the efficiency and reliability of results. Furthermore, most of the urine analyzers are now integrated with Electronic Health Records (EHR) to directly link the results into the patient’s database. For instance, Siemens AG is collaborated with Relaymed to bring labs cloud-based connectivity for the Siemens DCA Vantage analyzer and Clinitek Status point-of-care (POC) instruments. This will sent patient test results automatically from these POC instruments to physician-office EHR systems.
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The global urinalysis test market is growing with the rapid pace. According to a recent study report published by the Market Research Future, the Global Urinalysis Test Market is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Global Urinalysis Test Market - competitive Analysis
Beckman Coulter, F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc., Sysmex Corporation, Bio-Rad Laboratories, Inc., ARKRAY, Inc., Siemens AG are some of the prominent players at the forefront of competition in the Global Urinalysis Test Market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the global urinalysis test market appears to be a highly competitive and fragmented market. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features product portfolios, quality, and pricing. The Market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Some of the major players like Beckman Coulter, F. Hoffmann-La Roche Ltd, ACON Laboratories, Inc., Sysmex Corporation, Bio-Rad Laboratories, Inc., ARKRAY, Inc., Siemens AG, accounts for total 47% of the global market. Other market player’s accounts for 53% market share including Elektronika Kft., URIT Medical, and Mindray Medical International Limited among others.
In Aug-2015, Roche Holdsing AG Roche acquired GeneWEAVE to strengthen offerings in microbiology diagnostics. Roche will pay GeneWEAVE shareholdsers $190 million upfront and up to USD 235 million in contingent product related milestones.
In Sep-2016, Siemens healthcare launched the combination of the Modularis urological shock wave unit and the flat detector technology of the mobile C-arm Cios Fusion. Since, constantly switching between two or even three different control units would be complicated and could lead to errors, the Modularis' central control unit is a better option. This will help Siemens to strengthen its position in the market.
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Global urinalysis test market - regional analysis
The Americas leads global urinalysis test market due to a well-developed healthcare sector and rising healthcare expenditures within the region. The Americas is followed by Europe. Countries like the U.K, France, Germany and Russia within the region are extensively grows the market in the presence of the developed healthcare sector. The Asia Pacific is the fastest growing region due to a huge patient population and rising healthcare expenditure. On the other hand, Middle East & Africa have the least share of the market.