Renal Function Test Market to Grow at 5.7% CAGR through 2026, Dipsticks Remain the Highest Selling Products Globally

ALBANY, USA, 2018-May-28 — /EPR Network/ —A new research report has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the study titled “Renal Function Test Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2026)”, the global renal function test market is likely to grow at a CAGR of 5.7% during the assessment period, and reach a valuation of nearly US$ 900 Mn by the end of the forecast period.

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According to the research study, surging demand for renal function tests is on account of increasing incidences of renal failure and kidney diseases. The market continues to grow on account of increasing prevalence of kidney diseases on account of lifestyle diseases. Hectic lifestyle, poor dietary habits, and lack of exercise has led to an increase in the prevalence of diabetes, cardiovascular diseases, and kidney ailments. Healthcare providers around the globe are recommending patients to go for concrete diagnostic tests in a bid to detect these problems at an early stage. On account of these factors, the renal function test market is likely to witness steady growth over the forecast period.

The research study offers holistic analysis and insights on the basis of region, product type, end-users, and test type. According to the research study, North America will continue to be one of the leading markets for renal function tests globally. The proliferation of these tests in North America is likely to remain concentrated in the US. In addition to North America, Asia Pacific is also expected to be one of the leading markets for renal function tests globally.

By product type, dipsticks are likely to remain one of the highest-selling products globally. Further, the market growth is also likely to be fuelled by growing sales of disposables and reagents. By end-use, hospitals are likely to account for a leading revenue share of the market. According to the business intelligence study, demand for renal function tests from hospitals are likely to account for US$ 450 Mn worth of revenues by the end of the forecast period. In addition to hospitals, demand is also likely to increase on account of growing demand from diagnostic laboratories and research institutes.

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The research study also offers insights on the basis of test type. The most common tests in the renal function tests market include urine protein and microalbumin. According to the report, microalbumin renal function tests are likely to account for a significant CAGR during the assessment period.

The study also profiles the product and business strategies of some of the leading players in the renal function tests market. According to the research study, some of the key players in the report include Elektronika, Nova Biomedical, Randox Laboratories, Acon Laboratories, Sysmex, Abbott, Urit Medical, Roche, Beckman Coulter, and Siemens.

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