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Kidney Function Tests Global Market Report 2022: Sector to Reach $1.39 Billion by 2030 at a CAGR of 6.5%

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Global Kidney Function Tests Market

Global Kidney Function Tests Market
Global Kidney Function Tests Market

Dublin, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The "Kidney Function Tests Market Size, Share & Trends Analysis Report By Product (Clearance Tests, Urine Tests, Blood Tests, Dilution And Concentration Tests, Other Tests), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global kidney function tests market size is expected to reach USD 1.39 billion by 2030, registering at a CAGR of 6.50% from 2023 to 2030.

Companies Mentioned

  • Abbott

  • Danaher

  • F. Hoffmann-La Roche Ltd.

  • Sysmex Corporation

  • Siemens Healthineers

  • Randox Laboratories Ltd

  • Quest Diagnostics

  • Acon Laboratories, Inc.

  • Nova Biomedical Corporation

  • Laboratory Corporation Of America Holdings

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Key factors such as high prevalence of kidney diseases, the rising R&D activities, increasing investments by market players, and technological innovations are anticipated to significantly drive the market growth.

Moreover, the growing number of initiatives undertaken by the government to provide various facilities, such as reimbursement for diagnostic tests is a major factor likely to boost the market.

Introduction of innovative kidney function tests in the market by the operating players is increasing the adoption of these diagnostics tests.

For instance, in December 2022, Journey Biosciences, Inc. launched its leading product-NaviDKD. It is a biomarker-based blood test, which evaluates the peril of renal disease in people with diabetes years before the symptoms appear. Along with its patented compass reporting platform, the product provides actionable insights for managing and preventing complications before they arise. Such developments are foreseen to fuel the market during the forecast period.

Furthermore, rising R&D initiatives for the development of novel products are expected to significantly fuel the market growth during the forecast period. For instance, in February 2021, Researchers from the University Hospitals of Derby and Burton, NHS Foundation Trust, and the University of Nottingham received USD 2.32 million in funding to help improve the treatment and diagnosis of renal diseases.

Researchers will use multi-parametric MRI scanning to evaluate patients suffering from CKD. Similarly, the Canadian kidney research organization received a new USD 11.8 million investment to support its work through 2027. The Can-SOLVE Chronic Kidney Disease Network is the largest-ever kidney research initiative in Canada.

The COVID-19 pandemic has been associated with increase in hospitalization and infection hotspots around the country. There were at least three separate waves of COVID-19 around the world by June 2021 that put a significant strain on hospital resources, especially labor and availability of dialysis equipment & supplies.

In addition, the COVID-19 pandemic has affected healthcare services for renal disease patients. Social distancing and lockdown were mandate norms, globally, leading to temporary closure of other medical services. The diagnosis of several renal diseases deferred during the pandemic due to suspension of non-urgent visits and testing services.

Moreover, the growing prevalence of renal diseases is projected to increase the demand for diagnostic tests during the study period. For instance, according to The National Kidney Foundation, Inc., an estimated 37 million people in the U.S., i.e., more than one in seven adults, are living with some form of renal disease.

Similarly, according to data published by FDA, about 10,000 children in the U.S. develop acute kidney infections (AKI) every year. These children possess a survival rate of around 38%-43%. The mortality rate for neonates with AKI is around 60%. Such factors are likely to drive the demand for neonatal hemodialysis, thereby driving the market growth.

On the other hand, low awareness regarding renal diseases is expected to hamper the market growth. For instance, In the U.S., an estimated 37 million adults have kidney disease and about 90% remain unaware of the condition. Major risk factors for the disease are high blood pressure and diabetes as well as heart disease, obesity, & family history of kidney disease.

However, various government bodies are initiating programs for raising awareness of kidney function tests. For instance, Tamilnadu Kidney Research Foundation has conducted 1,279 awareness programs until March 2020.

Kidney Function Tests Market Report Highlights

  • By product, the clearance tests segment held the largest share of the market. These tests ensure that there is minimal variation in performance owing to their optimum sensitivity and precision. The low cost and easy availability of these products in the market lead to their increased adoption.

  • By end-user, the hospitals segment accounted for the dominant market share in 2022, due to the rising demand for IVD tests because of increase in the prevalence of CKD.

  • North America dominated the global market in 2022 due to the well-established healthcare infrastructure, favorable reimbursement policies and government initiatives in the region.

  • Asia Pacific is expected to grow considerably in the future owing to the increasing awareness programs about CKD in emerging economies, such as China & India.

Report Metrics:

Report Attribute

Details

No. of Pages

117

Forecast Period

2023 - 2030

Estimated Market Value (USD) in 2023

$895.6 Million

Forecasted Market Value (USD) by 2030

$1390 Million

Compound Annual Growth Rate

6.5%

Regions Covered

Global

Key Topics Covered:

Chapter 1 Methodology And Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends, And Scope
3.1 Market Segmentation And Scope
3.2 Market Lineage Outlook
3.2.1 Parent Market Outlook
3.2.2 Related/Ancillary Market Outlook
3.3 Penetration And Growth Prospect Mapping For Product, 2022 (USD Million)
3.4 Business Environment Analysis
3.4.1 Swot Analysis; By Factor (Political & Legal, Economic And Technological)
3.4.2 Porter's Five Forces Analysis
3.5 Covid-19 Impact Analysis:
3.5.1 Impact On Patients Suffering From Esrd, Aki, Eskd, Ckd, And Other Kidney Disorders
3.6 Market Dynamics
3.6.1 Market Driver Analysis
3.6.1.1 Introduction Of Innovative Kidney Function Tests
3.6.1.3 Increasing Investments In R&D
3.6.1.4 Increasing Prevalence Of Acute Kidney Injury And Associated Chronic Kidney Disease
3.6.2 Market Restraint Analysis
3.6.2.1 Low Awareness Regarding Kidney Diseases
3.6.3 Market Challenge Analysis
3.6.3.1 Limitations Associated With Kidney Function Tests

Chapter 4 Product Business Analysis
4.1 Kidney Function Tests Market: Product Movement Analysis
4.2 Clearance Tests
4.2.1 Clearance Tests Market Estimates And Forecast, 2018 - 2030 (USD Million)
4.3 Blood Tests
4.3.1 Blood Tests Market Estimates And Forecast, 2018 - 2030 (USD Million)
4.4 Urine Tests
4.4.1 Urine Tests Market Estimates And Forecast, 2018 - 2030 (USD Million)
4.5 Dilution & Concentration Tests
4.5.1 Dilution & Concentration Tests Market Estimates And Forecast, 2018 - 2030 (USD Million)
4.6 Other Tests
4.6.1 Other Tests Market Estimates And Forecast, 2018 - 2030 (USD Million)

Chapter 5 End-Use Business Analysis
5.1 Kidney Function Tests Market: End-User Movement Analysis
5.2 Hospitals
5.2.1 Hospitals Market Estimates And Forecast, 2018 - 2030 (USD Million)
5.3 Diagnostic Laboratories
5.3.1 Diagnostic Laboratories Market Estimates And Forecast, 2018 - 2030 (USD Million)
5.4 Research Laboratories And Institutes
5.4.1 Research Laboratories And Institutes Market Estimates And Forecast, 2018 - 2030 (USD Million)
5.5 Others
5.5.1 Others Market Estimates And Forecast, 2018 - 2030 (USD Million)

Chapter 6 Kidney Function Tests Market: Regional Estimates And Trend Analysis, By Product & End-Use

Chapter 7 Competitive Landscape
7.1 Participant's Overview
7.2 Financial Performance
7.3 Participant Categorization
7.3.1 Market Leaders
7.3.1.1 Strategy Mapping Kidney Function Tests Market Share Analysis, 2022
7.3.3 Strategy Mapping
7.3.3.1 Expansion
7.3.3.2 Collaboration
7.3.3.3 Product Launch
7.3.3.4 Partnership

For more information about this report visit https://www.researchandmarkets.com/r/e7pm8c-function?w=12

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