Microalbumin Test Market: Increasing Demand for Technologically Advanced Devices Drive the Growth Forecasts by 2030

Pune, India, January 2023 /MRFR Press Release/- Market Research Future has a half cooked research report on the global microalbumin test market. The global microalbumin test market is growing continuously and is expected to grow at a CAGR of 6.40% from 2022 to 2030.

Market Highlights

The global microalbumin test market is expected to grow at a CAGR of 6.40% during the forecast period (2022-2030) and is expected to reach USD 5,449.34 Million by 2030.

Microalbumin test is one of the vital urine tests for the diagnosis of diabetes, kidney diseases, and diabetic retinopathy. Analyzer, reagent kit, control kit, micro-cuvettes, and test strips are various devices used in the microalbumin test. Hematuria (blood in the urine), certain medications, fever, vigorous exercise, urinary tract infection are some of the factors leading to the elevated levels of microalbumin in the urine.

The market is driven by the increasing prevalence of diabetes, renal dysfunction, and other kidney problems. In addition, increasing research and development activities, and technological advancements in medical device sector are fuelling the global microalbumin test market growth. The growth of the market is restricted by the accuracy and reliability of tests and the high cost of diagnostic devices.

Taste the market data and market information presented through more than 55 market data tables and figures spread over 206 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on “Microalbumin test market research report–Global forecast till 2030.”

Regional Analysis

The market for the microalbumin test is found to be increasing in the Americas. Extensive use of screening tests, availability of specialty services, and rising prevalence of kidney diseases is influencing the growth of the market. Additionally, increasing demand for technologically advanced diagnostic devices and presence of major market players are further driving the market growth. According to the Centre for Disease Control and Prevention (CDC), in 2014, nearly 118,000 people in the United States were treated for End-Stage Renal Disease (ESRD).

In Europe, extensive research and development activities on the medical devices, and extensive use of point-care-testing devices drive the market growth. Additionally, rising healthcare expenditure has also been a driving force for the market. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014, France recorded the second highest level of current healthcare expenditure of EUR 237 billion, followed by the U.K (EUR 223 billion). As per the article published in the Clinical Kidney Journal, the incidence of end-stage renal disease (ESRD) varies substantially between the countries in Europe. Furthermore, rising healthcare expenditure also impacts the market growth.

Explore In-depth Details: Microalbumin Test Market Research Report

In Asia Pacific region, the increasing prevalence of diabetes, chronic kidney disease, and availability of diagnostic services are the driving factors for the growth of the market. India and China are major economies in the region having a high prevalence of diabetes, which is further expected to grow in the coming future. Additionally, availability of skilled healthcare professionals fuels the market growth.

In the Middle East & Africa, the increasing demand for specialty diagnostic services and developing healthcare system drive the growth of the market. In the Middle East, lack of physical exercise, and sedentary lifestyle are major factors responsible for diabetes and obesity, therefore, fuelling the market growth. In Africa, the demand for diagnosis and treatment of chronic diseases such as diabetes is found to be increasing, thus fuelling the market growth. As per the World Economic Forum, the prevalence of non-communicable, and chronic diseases are found to be increasing in the Middle East & Africa.

Segmentation

The global microalbumin test market is segmented on the basis of product, indication, and end user.

On the basis of the product, the market is segmented into analyzer, reagent kit, control kit, micro-cuvettes, test strips, and others.

On the basis of the indication, the market is segmented into kidney disease, diabetes, high blood pressure, and others.

On the basis of the end user, the market is segmented into hospitals, diagnostics laboratories, research laboratories, and others.

Major Players in Microalbumin test Market

Some of the key players in the global market are Beckman Coulter (U.S.), Siemens (Germany), Nova Biomedical (U.S.), Roche (Switzerland), Abbott (U.S.), URIT Medical (China), ARKRAY (Japan), OPTI Medical (U.S.), ACON Laboratories (US), Sysmex (Japan), 77 Elektronika (Hungary), and Randox Laboratories (U.K).