New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The global Albumin & Creatinine Tests market size is slated to expand at ~19% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 19 billion by the end of 2035, up from a revenue of ~USD 3 billion in the year 2022.The adoption of the tests by the patients is anticipated to drive the market expansion over the forecast period backed by the rising cases of kidney ailments and disorders, and the rising awareness among the patients regarding the tests.
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According to the Centers for Disease Control and Prevention (CDC), about 37 million adults, or more than 1 in 7 people, had chronic renal disease in 2021. An albumin blood test is used to assess general health as well as the function of the liver and kidneys. The patient's liver may not produce enough albumin if it is damaged or if they are malnourished. An excessive amount of albumin may be excreted in the urine if the kidneys are damaged.
Albumin & Creatinine Tests Market: Key Takeaways
- Market in North America to propel highest growth
- Hospital segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Growth in the Number of Diabetic Patients to Boost Market Growth
The diabetic patients make use of albumin and creatinine tests to monitor their blood glucose levels and perform health checks on a regular basis. Diabetes is one of the most common diseases in the world. According to the data provided by the International Diabetes Federation (IDF), in 2021, approximately 537 million adults were reported to be living with diabetes. By 2030, there will be 643 million people with diabetes worldwide, and by 2045, there will be 783 million. Adults with diabetes make up three of every four people living in low- and middle-income nations. Hence, the growing number of diabetes patients around the world is expected to be a prime factor driving the growth of the market.
Albumin & Creatinine Tests Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Prevalence of Chronic Disorders to Drive the Growth of the Market in the North America Region
The Albumin & Creatinine Tests Market in North America are estimated to garner the largest revenue by the end of 2035. The growth of the regional market can be largely attributed to the high prevalence of chronic diseases, such as CVD, asthma, cancer, and chronic obstructive pulmonary disease, in the region. According to the Centers for Disease Control and Prevention, one person dies from cardiovascular disease in the United States every 34 seconds. About 697,000 people in the United States will die from heart disease in 2020, accounting for one in five deaths. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to opt for easy testing with new products over a large target population so as to develop efficient treatment and diagnosis options, are also estimated to contribute notably to the market growth in the region. In addition, the expanding healthcare industry is also anticipated to fuel market growth during the forecast period.
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Rising Geriatric Population to Drive the Growth in the Asia Pacific Region
The Albumin & Creatinine Tests Market in the Asia Pacific region are estimated to garner the highest CAGR by the end of 2035. The growth of the market in this region can primarily be attributed to the continuously growing geriatric population throughout the region. The elderly is more vulnerable to diseases that necessitate albumin and creatinine tests for diagnosis and regular health checks. More than any other region of the globe, the Asia-Pacific population is aging more quickly. About 60 percent of the region's elderly population, or 630 million people, are now 60 years of age or older. The region's elderly population is expected to reach 1.3 billion by 2050. Moreover, the role of the government in spreading awareness about the use of the tests is expected to boost the growth of the market in the region. Additionally, increasing numbers of CVD patients, increased funding for healthcare infrastructure, and inactive lifestyles followed by unhealthy diets are expected to influence the growth of the Albumin & Creatinine Tests Market in the region.
Albumin & Creatinine Tests , Segmentation by End-User
- Hospital
- Diagnostic & Research Labs
Amongst these two segments, the hospitals segment is anticipated to hold the largest share over the forecast period. The large patient population that has to be treated for kidney diseases in hospitals can be attributed to the segment's expansion. Patients requiring the albumin tests & creatinine tests often visit hospitals for diagnosis, and it is easier and more convenient for them to have the tests done directly on the hospital premises, since using the test findings to schedule an appointment with a doctor at the same facility will be handy for them. Additionally, it is predicted that increased healthcare spending per person globally would fuel the expansion of this market. The World Bank reports that, as of 2019, the average cost of healthcare per person worldwide was USD 1,121.97.
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Albumin & Creatinine Tests, Segmentation by Type
- Blood & Urine Creatinine
- Urine Albumin
- Glycated Albumin
Amongst these three segments, the urine albumin segment is anticipated to hold a significant share over the forecast period. The segment growth can be attributed to the growing trend of evaluating patients' specific urine albumin levels. Serious risk factors are associated with high urine albumin, such as chronic kidney disease. More than 30 mg/g of UACR (Urine Albumin-to-Creatinine Ratio) is regarded as abnormal. The historical ranges for microalbuminuria and macroalbuminuria were 30–300 mg/g and greater than 300 mg/g, respectively.
Few of the well-known industry leaders in the Albumin & Creatinine Tests Market that are profiled by Research Nester are RayBiotech Life, Inc., Danaher Corporation, FUJIFILM Wako Pure Chemical Corporation, Nova Biomedical, Ortho Clinical Diagnostics, PromoCell GmbH, Siemens Healthineers, Sysmex Corporation, Teco Diagnostics, Thermo Fisher Scientific Holdings, Inc., and other key market players.
Recent Development in the Albumin & Creatinine Tests Market
- Siemens Healthineers announced a OEM alliance with Healthy.io to improve patient adherence to the monitoring of chronic kidney disease. Urinalysis reagents from the company mix with Healthy.io. Patients get access to the facility of urine testing at their own place, for the Io's smartphone-based technology.
- Thermo Fisher Scientific Inc. (TMO) and ASLAN Pharmaceuticals (ASLN) announced a collaboration to produce a high concentration formulation of eblasakimab for Phase 3 clinical trials for indications such as asthma, unspecified type-2 driven disease and atopic eczema.
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