Renal Function Test Market worth US$ 824.2 million by 2022 – Exclusive Report by Future Market Insights, Inc.

The market for renal function tests market was valued at US$ 779.1 Mn in 2021, and from 2022 to 2032, it is anticipated to grow at a CAGR of 5.6%. By the end of 2032, the market is anticipated to have a US$ 1,414.5 Mn projected valuation. With a market share of roughly 62.4% in 2021, the urine test category is the market leader in terms of test type.

Public & Private Healthcare Organizations are Supporting Management of CKD through Programs & Initiatives

Increasing incidences of renal failure, and chronic kidney diseases (CKD) are considered to be the primary factors responsible for the significant demand for renal function tests. Unhealthy dietary habits, lack of physical exercise owing to hectic lifestyles, and stress, are commonly observed risk factors for diabetes, coronary heart diseases, hypercholesterolemia, and hypertension.

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These factors further lead toward dysfunctions in the kidney, which in turn creates demand for renal function tests. Surging number of people with diabetes who are highly susceptible to CKD are expected to propel the demand for renal function tests in the upcoming years. The resultant high sample volume is creating demand for highly effective and efficient renal function testing devices.

Awareness about diagnostic benefits related to renal function tests is increasing among people. The advent of technologically advanced products associated with renal function tests such as automated analyzers has resulted into refinement of present point-of-care real-time testing capabilities. In addition, the private as well as public healthcare organizations are consistently striving to support the diagnosis and management of chronic kidney diseases through various programs and initiatives, thereby creating awareness and demand for renal function tests.

Key Takeaways from FMI’s Report on Renal Function Test Market

North America will continue to be dominant in the global renal function test market, in terms of revenues. Between renal function test market in Europe and Asia-Pacific excluding Japan (APEJ), the former will account for a larger revenue share and the latter will register a relatively higher CAGR through 2026. The renal function test markets in Middle East & Africa (MEA) and Japan are projected to account for the lowest revenue share of the market throughout the forecast period.

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On the basis of product type, dipsticks are expected to be the leading contributor to the market growth, in terms of revenues. Revenues from sales of disposables and reagents are projected to register a relatively faster expansion, and will collectively account for over two-fifth share of the market during the forecast period.

Hospitals are anticipated to remain the most lucrative end-users in the global renal function test market, with sales estimated to surpass US$ 450 Mn in revenues by 2026-end. Diagnostic laboratories are expected to remain the fast-expanding end-users of renal function tests through 2026. Revenues from renal function tests in diagnostic laboratories are projected to account for nearly one-third share of the market by 2026-end. Research institutes will continue to be the least lucrative end-users of renal function tests.

In terms of test type, urine protein and microalbumin renal function test are together projected to account for over three-fifth revenue share of the market during the forecast period. Revenues from microalbumin renal function test will register the highest CAGR in the market through 2026. In addition, revenues from urine protein and serum creatinine renal function test are projected to increase at nearly equal CAGRs through 2026.

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Vendors in the global renal function test market are focusing on technological advancements through clinical trials. The intensive competitive landscape of the market is resulting into increasing mergers & acquisition activities, wherein smaller firms are acquired by well-established international vendors.

Key player profiled by FMI’s report include:

• Randox Laboratories
• Elektronika
• Acon Laboratories
• Urit Medical
• Nova Biomedical
• Sysmex
• Abbott
• Roche
• Beckman Coulter
• Siemens

Key Segments Covered in Renal Function Test Market Report

By Product Type:

• Dipsticks
• Disposable
• Reagents

By Test Type:

• Urine Test
  • Urine Protein
  • Microalbumin
  • Creatinine Clearance
• Blood Test
  • Serum Creatinine
  • GFR rate
  • Blood Urea Nitrogen (BUN)

By End User:

• Hospitals and Clinics
• Diagnostic laboratories
• Research Laboratories and Institutes
• Home Care Settings

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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