Pune, India, June, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global Creatinine Test Market Research Report.
The global creatinine test market size is set to balloon till 2023 owing to rising incidence of chronic kidney disease (CKD) and technological advances witnessed in various diagnostic test kits. Market Research Future (MRFR)’s latest study reveals that the market is predicted to grow at a 5.8% CAGR during the forecast period (2018–2023). Government initiatives undertaken to create awareness of CKD among patients is expected to positively impact the market. Product launches by new and existing players to expedite the speed and accuracy of these tests can offer new growth opportunities for the market.
Increased emphasis on quality healthcare is anticipated to increase the healthcare budget of various nations, which in turn could bolster market demand for creatinine tests. According to a report by the National Center for Chronic Disease and Prevention, nearly 30 million U.S. residents were afflicted with CKD in 2017. This disease was more commonly seen in women more than men. Technologically advanced creatinine tests can help in lowering these numbers considerably. Advances in point-of-care diagnostics facilitated by automated analyzers, increasing diabetic populace, and presence of various public and private healthcare organizations providing support for CKD management can open up new avenues for the market.
Global Market for Creatinine Tests – Segmental Analysis
MRFR’s report offers a detailed segmental analysis of the market based on test type, product type, application, end-user, and region. By type, the market has been segmented into blood test, urine test, and creatinine clearance test. The blood test segment accounted for a large market share owing to preference of blood tests to measure creatinine levels in the Americas. It is expected to be lucrative for the market over the forecast period.
By product type, the market is segmented into consumables and instruments. Consumables are further segmented into cartridges, urine test strips, and others. Similarly, instruments are further segmented into clinical analyzers and others. Clinical analyzers are segmented into benchtop and handheld. The consumables segment is projected to register a 5.71% CAGR during the forecast period, as tools such as urine test strips can provide an accurate assessment of a patient’s urine level.
Major market applications include renal failure, kidney cancer, glomerulonephritis, urinary tract obstruction, and others. The urinary tract obstruction application segment is touted to capture a lion’s share of the creatinine test market by the end of the forecast period owing to the urinary tract being the most common area for blockage. The renal failure segment is expected to grow at a 6.26% CAGR over the forecast period.
End-users covered in the report include research institutes, diagnostic centers, hospitals & clinics, and others. The hospitals and clinics segment is expected to contribute to the market owing to rise in healthcare budgets of various nations.
The creatinine test market, on the basis of region, is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). The Americas region accounted for a large share of the market in 2017. It will continue to dominate the market due to presence of sophisticated healthcare infrastructure, adoption of latest diagnostic tests, and incidence of CKD. Presence of various leaders of the healthcare industry coupled with a massive healthcare budget is expected to facilitate market growth. Favorable reimbursement policies can also influence patients in taking these tests to catch kidney related disorders at a preventive stage.
APAC and Europe collectively accounted for 51% market share. The APAC creatinine test market is driven by the large patient pool, rapidly improving healthcare infrastructure, and adoption of latest customer-centric healthcare models.
Global Market for Creatinine Test – Competitive Dashboard
Some of the key players profiled in the market report include Abbott, URIT Medical, Nova Biomedical, Siemens AG, ARKRAY, Inc., The Danaher Corporation, F. Hoffmann-La Roche AG, ACON Laboratories, Inc., Thermo Fisher Scientific, Inc., Quest Diagnostics, Abcam plc, OPTI Medical Systems, and others. Acquisitions, collaborations, and launch of new products are strategies employed by these players to acquire a larger market share. Approvals of new creatinine tests by respective regulatory agencies of various nations are expected to propel the market to new heights.