The alerting rise in aging and geriatric population which leads to the high prevalence of kidney diseases, obesity and cardiovascular diseases has been driving the market into growth. The increase in investment levels lead to technological and diagnostic advancements which further instigates the market to growth and development.
Market size- USD 656.6 Million in 2018, Market Growth- 6.2% CAGR, Market Trends- Innovation of new forms of diagnosis and preventive measures, acquisitions and investments in the emerging markets for various technological advances and treatment.
NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- According to a study and analysis by Reports and Data, the global Kidney Function Test market was valued at USD 656.6 Million in 2018 and is expected to be USD 1061.0 million by the end of the forecasting period of 2026, at a CAGR of 6.2%. The market is witnessing high growth due to increasing number of Kidney testing functions for patients suffering from kidney malfunctions mainly due to changing lifestyles. The kidney is an essential organ which refines the fluids in our body before distributing them and a malfunction can lead to various stages of cancer and chronic disease. Other factors driving the growth of this market includes rising level of awareness among the public about the several kidneys disease, hypertension and cardiovascular activities. The number of incidences of renal fibrosis has increased at an alarming rate and has been responsible for the growth of this market restrained by the high cost of development, maintenance and innovations.
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Among all the regions, Asia-Pacific is the fastest growing one due to the increasing number of competitors in China, Japan and India with an aging population suffering from chronic diseases and diabetes. As per a study conducted by the Asian Development Bank (ADB), the geriatric population in Asia is estimated to reach 923 million by 2050 providing a favourable background for the market growth in the Asia Pacific region. On the other hand, Middle East and Africa has the least share in the global kidney function test market due to the stringent government policies, low gross national income and poor health planning and therapeutic measures. The market is expected to witness a rapid growth mainly because of the awareness of advances in preventive measures, increased hypertension, smoking, and high cholesterol which will contribute to the market growth.
Further key findings from the report suggest
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Segments covered in the report:
For the impetus of this study, Reports and Data have segmented the Global Kidney Function Test market on the basis of Products, Types, End-user and Regional outlook.
Product Type (Revenue, USD Million; 2016–2026)
Type (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
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