Rockville , Oct. 10, 2023 (GLOBE NEWSWIRE) -- As per a new market study published by Fact.MR, a market research and competitive intelligence provider, the global Kidney Function Test Market reached a size of US$ 955 million in 2022. Worldwide demand for kidney function tests is forecasted to rise at a CAGR of 5% from 2023 to 2033.
Rising prevalence of different types of kidney diseases along with technological innovations taking place in the healthcare sector are forecasted to significantly impact market growth opportunities.
For instance:
- Nova Biomedical, in March 2022, launched a new tool called eGFR Meter System/Nova Max Pro Creatinine to offer advanced kidney care with an early detection of different types of kidney diseases.
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Key Segments of Kidney Function Test Industry Research Report
| By Test Type | By Product Type | By Application |
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Key Takeaways from Market Study
- The global kidney function test market reached US$ 955 million in 2022.
- The market is estimated at US$ 1 billion in 2023.
- Worldwide sales of kidney function test kits are projected to reach US$ 1.64 billion by 2033-end.
- Demand for kidney function test panels is predicted to advance at a 5% CAGR through 2033.
- The United States market was valued at US$ 285 million in 2022.
- Sales of kidney function test kits in China are forecasted to expand at 4.7% CAGR and reach US$ 245 million by 2033.
- The market in Japan is predicted to advance at a 4.8% CAGR from 2023 to 2033.
- Demand for kidney disease diagnostics in Germany is projected to accelerate at a CAGR of 4% through 2033.
- Based on product type, global demand for dipsticks is predicted to increase at a 5.6% CAGR and reach a value of US$ 692 million by the end of 2033.
“Increasing government initiatives to offer advanced healthcare facilities and rising expenditure on R&D activities to provide more efficient test kits are predicted to push market growth opportunities,” says a Fact.MR analyst.
Use of Clearance Test Kits Rising Due to Their Cost-effectiveness and Easy Availability
Based on test type, clearance test kits accounted for a 28% share of the global market revenue in 2022. Clearance tests are adopted as the gold standard for measuring and monitoring glomerular filtration rate. Creatinine and inulin tests are included as pivotal additions to conventional diagnostic tests to get precise results. Easy availability and low cost of these test kits are making them popular among end users.
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| Report Attribute | Details | |
| Value Projection (2033) | USD 1.64 Billion | |
| Growth Rate (2023-2033) | 5% CAGR | |
| No. of pages | 170 Pages | |
| No. of Tables | 84 Tables | |
| No. of Figures | 112 Figures | |
Market Competition:
Suppliers in the kidney function test panels industry are employing various strategies to achieve their objectives, such as innovation, quality control of products, and effective management of supply chain systems. Key industry players are utilizing approaches like geographical expansion, introducing new products, fostering collaborations, and forming partnerships to enhance their worldwide presence.
For example:
- Bloom Diagnostics introduced The Bloom Kidney Test in August 2022, a specialized test designed for adult patients to quantitatively measure cystatin C in whole blood. This product is anticipated to enhance their product portfolio and aid in expanding their global market reach.
- In March 2022, Nova Biomedical launched an innovative tool aimed at providing advanced renal care by enabling the detection of kidney disease and kidney function screening in point-of-care (POC) settings outside of hospital facilities.
Leading Market Players
- Abbott Laboratories
- 77 Elektronika Kft
- Acon Laboratories, Inc.
- Beckman Coulter, Inc.
- Arkray, Inc.
- F. Hoffmann-La Roche AG
- Opti Medical Systems, Inc.
- Nova Biomedical Corporation
- Randox Laboratories Ltd.
- Sysmex Corporation
- Siemens Healthineers
- Urit Medical
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the kidney function test market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on test type (clearance tests, urine tests, blood tests, and dilution & concentration tests), product type (dipsticks, reagents, and disposables), and end user (hospitals, research laboratories, & institutes, and diagnostic centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Kidney Cancer Diagnostics Market: The global kidney cancer diagnostics market is projected to expand steadily at a CAGR 7% value, during the forecast period 2022-2032. In the year 2022, the market size is projected to expand and gain a global market valuation of US$ 800 Million.
Kidney Dialysis Equipment and Supplies Market: The kidney dialysis equipment and supplies market size was valued at US$ 21.0 Billion in 2022, and is projected to reach valuation of US$ 26.0 Billion by 2026, growing at a Compound Annual Growth Rate (CAGR) of 5.0% during the forecast period from 2022 to 2026.
Kidney Stone Management Devices Market: The global kidney stone management devices market is valued at US$ 1.9 billion in 2023 and is forecasted to reach a revenue of US$ 3.1 billion by the end of 2033, with global demand for kidney stone management devices increasing at 5% CAGR over the next ten years.
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