Urinalysis Market to Surpass US$ 5,937.97 million by 2028 with a Steller CAGR of 5.6% | Detailed Analysis Report
The Urinalysis Market report provides a basic overview of the market including definitions, classifications, applications, and industry chain structure.
NEW YORK, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- A urinalysis is used in diagnosis and management of range of disorders such as kidney disease, urinary tract infections, and diabetes. In general, urinalysis is a test of urine. Urinalysis is an analysis by chemical, physical, and microscopical means to check for the presence of drugs and disease. A urinalysis includes checking the concentration, appearance, and content of urine. In urinalysis, abnormal results may point to an illness or disease. If the urine test result is positive, it may point that kidneys are not functioning or filtering the blood in the manner as they should. It might also point towards cardiovascular disease. Urinalysis can also be used to detect pregnancy and ovulation.
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Top Market Player Analysis- Abbott, ACON Laboratories, Inc., ARKRAY, Inc, Beckman Coulter, Inc., Bio-Rad Laboratories Inc., Cardinal Health Inc., F. Hoffmann-La Roche Ltd., Quidel Corporation, Siemens Healthineers AG, Sysmex Corporation and among others.
As per the study reported by a group of researchers at the American College of Physicians and Infectious Diseases Society of America in 2020, ~6 million people in the US visit physicians for the treatment of urinary tract infection (UTIs) every year. Women are at a greater risk of developing UTIs than men. According to a study published in the International Journal of Environmental Research and Public Health in 2019, patients with existing chronic conditions, such as diabetes mellitus (DM), are at a greater risk of acquiring UTIs. The demand for components required for urinalysis is rising due to the common occurrence of diabetes across the world, as the primary screening for diabetes involves urinalysis. Moreover, according to a study published by the National Kidney Foundation in 2020, ~35.0% of the diabetic population above age 20 would develop chronic kidney diseases over the period. An ongoing surge in the prevalence of prostate and bladder cancer raises a strong therapeutic imperative for the implementation of highly effective diagnostics.
According to our new market research study on “Urinalysis Market to 2028 – Global Analysis and Forecast – by Product, Test Type, Application, and End User,” the market is expected to reach to reach US$ 5,937.97 million by 2028 from US$ 4,065.79 million in 2021; it is expected to grow at a CAGR of 5.6 % from 2021 to 2028. The report highlights trends, drivers, and hindrances pertaining to the market growth.
Factors such as growing burden of urinary tract infections, diabetes, and kidney diseases, and a rise in the prevalence of age-related diseases boost the growth of the urinalysis market. However, stringent regulatory requirements and product recalls hamper the market growth. For instance, in January 2020, Beckman Coulter Inc. received notice to recall its automated urinalysis systems from the market.
COVID-19 has presented the most significant global health emergency till date. Lockdowns resulting from the COVID-19 pandemic caused people to delay undergoing health checkups, thus affecting the number of tests being performed and sales of instruments, consumables, and reagents. The urinalysis market witnessed a shortfall at the beginning of the COVID-19 crisis due to disruption in supply chain and demand due to the lockdown announced by most European countries. However, a resurgence in testing numbers is seen as countries gradually ease restrictions on movement.
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Segmentation of Market:
Based on product, the market is segmented into consumables and instruments. The consumables segment would account for the largest market share in 2021, and the same segment is anticipated to register the highest CAGR during the forecast period.
Based on test type, the market is segmented into pregnancy and fertility tests, biochemical urinalysis, and sediment urinalysis. The biochemical urinalysis segment would hold the largest share of the market in 2021, and it is estimated to register the highest CAGR in the market during 2021–2028. The growth of the biochemical urinalysis segment is attributed to the increased adoption of biochemical urinalysis.
Based on application, the market is segmented into disease screening and pregnancy, and fertility. The disease screening segment would account for the largest market share in 2021. The market for this segment is estimated to grow at the highest CAGR from 2021 to 2028.
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