Renal Function Test Market Insights
The global renal function test market is expected to grow at a high CAGR from 2017 to 2025. Increasing prevalence of kidney diseases and adoption of unhealthy lifestyles is expected to boost the demand for renal function tests across the globe. Exponential increase in government spending for developing & upgrading healthcare infrastructure and expanding hospital network is also expected to positively impact demand for renal function tests over the coming years.
The market is expected to experience high investments in development and advancements of diagnostics’ procedures. The wide use of automated analyzers and computer-assisted interpretation are also anticipated to ease renal function test procedures. Rapid industrialization has led to busy lifestyles and unhealthy eating & drinking habits, which is expected to contribute to rising kidney problems. These factors are anticipated to boost market growth over the coming years.
Renal Function Test Market: Product Insights
On the basis of product, the renal function test market is segmented into dilution & concentration, clearance, urine, and imaging tests. Clearance tests are expected to hold a significant share in the market by 2025 as it is one of the most frequently used test to measure and monitor glomerular filtration rate.
Renal Function Test Market: Application Insights
On the basis of application, the renal function test market is segmented into hospitals, diagnostic laboratories, academic research laboratories, and others. The demand for renal punctuation test in diagnostic laboratories and hospitals are expected to hold a predominant position in the market. High patient volumes in hospitals is one of the key factors resulting to the growth of this market.
Investments made by the government and private sector to improve the availability of advanced diagnostics equipments are anticipated to positively impact market growth. Faster diagnostics and processing due to availability of automated systems is anticipated to boost the demand for renal function tests in diagnostics laboratories.
Renal Function Test Market: Regional Insights
The renal function test market is expected to grow at the highest CAGR in countries such as China, Japan, Australia, India, and Singapore. Rising investments in developing and upgrading healthcare infrastructure is anticipated to boost demand for kidney function tests over the coming years. Affordability of healthcare test and procedures due to easy financing options and insurance cover is expected to augment market demand.
The North American and European market is anticipated to hold a large share in 2016 and is expected to growth at a significant CAGR from 2016 to 2025. High healthcare spending in countries such as the U.S. and Canada are projected to positively impact market growth.
Renal Function Test Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase renal function test over the coming years. Some leading consumers in the market include Mayo Clinic, Cleveland Clinic., and Johns Hopkins Hospital among others.
Renal Function Test Market: Competitive Landscape
Some of the major players in the renal function test market include Abbott Laboratories, Alere Inc., Laboratory Corporation of America Holdings, Quest Diagnostics, Siemens Healthineers, Merck Millipore, Randox Laboratories, F. Hoffmann-La Roche Ltd, Metabolic Solutions Development Company, Galectin Therapeutics, Inc., and Baxter International Inc.
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