Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
Kidney Function Tests Market size is expected to accumulate USD 1.5 billion in revenue by 2032. The increasing global incidences of chronic kidney disease (CKD), due to the aging population, lifestyle changes, and the increasing frequency of disorders like diabetes and hypertension is driving the demand for kidney function tests for early identification and monitoring.
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As per the CDC, approximately 37 million U.S. adults are suffering from CKD. The rising awareness of the necessity of frequent health screenings and preventative care among people at risk of renal disease is also escalating the demand for the tests.
Significant developments in diagnostic technology, such as biomarker-based assays and point-of-care testing devices are making way for improved accuracy and accessibility of kidney function tests. The rollout of government initiatives and healthcare policies are supporting the early detection and therapy of renal illnesses. The implementation of integrated healthcare systems and electronic medical data for enabling effective monitoring and control of kidney health.
Reagents to attain significant revenue
The reagents product segment is estimated to accumulate notable share of the kidney function tests market by 2032, owing to the increasing demand for specific biomarker assays for accurate kidney function assessment. Higher advancements in reagent formulations, including improved sensitivity and specificity are leading to improved test reliability and performance. The rising prevalence of CKD worldwide is also requiring frequent testing, further increasing the utilization of reagents for kidney function tests in clinical laboratories and healthcare facilities.
High preference for blood tests
Kidney function tests market value from the blood test segment will rise at substantial CAGR from 2023 to 2032. Blood tests offer a convenient and minimally invasive method for assessing kidney functions, driving widespread adoption in clinical settings. The rising prevalence of chronic kidney diseases is also amplifying the demand for routine kidney function monitoring, subsequently boosting the utilization of blood tests. Increasing innovations in blood testing technologies are also enhancing the accuracy and reliability of kidney function assessments.
Aging demographics to boost Asia Pacific market
Asia Pacific kidney function tests market size is anticipated to gain substantial gains between 2023 and 2032, on account of the large population and aging demographics. The high prevalence of kidney diseases in this populace is necessitating increased testing and monitoring. The rising healthcare expenditure across the region is helping in improving access to healthcare services. Increasing awareness about preventive healthcare measures and government initiatives to combat chronic diseases will escalate the need for various treatment techniques. The modernization of healthcare infrastructure and diagnostic technologies to enhance the availability and accessibility of kidney function tests.
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Kidney Function Tests Market Participants
Some of the leading firms operating in the kidney function tests industry include F. Hoffmann-La Roche Ltd., Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories, Inc., 77 Elektronika Kft, Quest Diagnostics, Nova Biomedical. These market players are adopting several inorganic strategies, such as mergers & acquisitions, collaborations, and introducing innovative solutions to increase their global footprint.
For instance, in August 2023, Signify Health, a CVS Health company, introduced an extensive in-home kidney health evaluation as part of its diagnostic and preventive services portfolio. This helped the firm in broadening its range of services for facilitating early detection, diagnosis, and management of prevalent health issues among Medicare Advantage beneficiaries.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Kidney function tests industry 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product type trends
2.1.4 Test type trends
2.1.5 End-use trends
Chapter 3 Kidney Function Tests Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising prevalence of chronic kidney diseases and acute kidney injuries
3.2.1.2 Surging awareness regarding availability of different diagnostic methods for kidney related disorders
3.2.1.3 Increasing patient population for diabetes and hypertension
3.2.1.4 Technological advancements coupled with rise in R&D investments for different kidney function tests.
3.2.2 Industry pitfalls & challenges
3.2.2.1 Lack of awareness regarding kidney diseases
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By test type
3.3.3 By end-use
3.4 COVID-19 impact analysis
3.5 Reimbursement scenario
3.5.1 U.S.
3.6 Technology landscape
3.7 Chronic Kidney Disease (CKD) Heat Map
3.8 Glomerular filtration rate tests outline
3.9 Kidney function tests conceptual overview
3.10 Future market trends
3.11 Porter’s analysis
3.12 PESTEL analysis
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