Newark, NJ, Feb. 05, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global urinalysis market is expected to grow from USD 3.37 billion in 2019 and to reach USD 6.32 billion by 2027, growing at a CAGR of 8.14% during the forecast period 2020-2027.
The extent of the target diseases, such as kidney diseases, UTI and diabetes, is large, with millions of new cases every year. Urinalysis is employed as the principal diagnostic tool for the analysis and management of these diseases. The vast base of the target population and the recognized high, unmet clinical demands in the under-developed regions offer the market a large pool of potential growth possibilities. The advancement of diagnostic tools that can respond to these unmet clinical demands at an affordable price is necessary to capitalize on these opportunities.
In order to identify and manage wide range of disorders like urinary tract infections, kidney disease and diabetes, Urinalysis is majorly utilized across the globe. It involves an analysis of the content of urine, appearance and concentration of the urine. There is a huge demand for precise urinalysis tests as an inaccurate outcome may result in severe diseases. Urinalysis is primarily applied in order to analyze the particulate matter, cells, organisms, casts, particular physical properties, crystals and solutes. It provides a basis for medical examination. Urinalysis word is a combination of the words urine and analysis. Urinalysis constitutes two levels, including urine electrolyte and culture of urine. Urinalysis constitutes three parts i.e. gross examination, chemical evaluation and microscopic examination. The gross examination is utilized to evaluate several characteristics that involve odor, color, transparency, specific gravity and volume. Also, urine strips are used in order to get the urinalysis results that can be analyzed according to the changes in color.
Moreover, the increasing prevalence of inactive lifestyles in people fuels the pandemic in many regions. Nevertheless, the lack of sufficient healthcare foundation in low-income nations is a major obstacle in adopting the most advanced diagnostic tools for urinalysis. The increasing demand for accurate and fast diagnosis along with improved ease-of-use are contributing factors in order to cater to the demand in the regions. The implementation of PPACA, increasing prevalence of kidney diseases, and rising geriatric population are factors driving the growth of the urinalysis market. Though, stringent regulatory procedures and implementation of excise tax by the U.S. government are factors hampering the growth of the market. Integrated systems & urinalysis via smartphones and technological advancement present opportunities in the market.
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Key players operating in the global urinalysis market include URIT Medical Electronic Ltd., ACON Laboratories, 77 Elektronika Kft, Beckman Coulter, Sysmex Corporation, Roche Diagnostics, Seimens Healthineers, Arkray Inc., Bio-Rad Laboratories, Quidel Corporation, Cardinal Health, DIRUI and Alere Inc. To gain a significant market share in the global urinalysis market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The instruments segment is anticipated to show the highest share over the forecast period
The product segment includes instruments and consumables. The instruments segment is anticipated to show the highest share in the urinalysis market over the forecast period. The instruments segment is expected to show the highest growth in the urinalysis market over the forecast period. The enhanced wireless communication along with the miniaturized instruments for POC urinalysis are contributing to the growth of the market. Such advancements enable the access to the urinalysis results at the same time across the hospital.
The urinary tract infection segment dominated the market and valued at USD 887.99 million in the year 2019
The application segment includes urinary tract infection, diabetes, kidney diseases, hypertension and liver diseases. Urinary tract infection segment had the highest share of USD 887.99 million in 2019. Urinalysis testing is utilized as the frontline diagnostic tool in the examination of several metabolic irregularities and UTIs. Urinalysis is observed to have the highest application in the diagnosis of UTI with the highest market share. It is majorly due to efficient urinalysis diagnosis and the high chances of hospital-acquired urinary tract infections.
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Regional Segment Analysis of The Urinalysis Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global urinalysis market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America had the highest share of 24.49% in the urinalysis market in 2019. The primary driver recognized for the huge market share involves the presence of significant market players in the region such as Beckman Coulter, Siemens Healthcare, Alere, Inc. and Bio-Rad. It is owing to the high healthcare expenditure, as well as automated urine sediment analyzers such as digital flow morphology & fluorescence flow cytometry in the North American region.
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About the report:
The global urinalysis market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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