Global Urinalysis Market Predicted to Register $4,776.9 Million and Grow at a CAGR of 6.3% in the 20121-2028 Timeframe [170-Pages] | Confirmed By Research Dive

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Research Dive

31 May, 2022, 12:50 GMT

Global urinalysis market is expected to grow by 2028 due to rising geriatric population & age-related disorders. The instruments sub-segment is expected to have lucrative growth. Market in Asia-Pacific region to witness more growth opportunities.

NEW YORK, May 31, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Urinalysis Market by Product (Instruments and Consumables), Application (UTIs, Kidney Disease, Liver Disease, Diabetes, Hypertension, and Others), End-user (Hospitals, Clinical Laboratories, Home Healthcare, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".

According to the report, the global urinalysis market is expected to register a revenue of $4,776.9 million by 2028, growing at a CAGR of 6.3% during the forecast period 2021-2028.

Dynamics of the Market:

Drivers: Increasing chronic diseases like diabetes, cardiovascular issues, blood pressure, liver and kidney issues, etc. among the geriatric population worldwide is the major factor expected to drive the growth of the global urinalysis market during the forecast period. In addition, most of the prescriptions for tests like creatinine, ketones, glucose, albumin, and others are performed under urine analysis. This is another factor estimated to accelerate the market growth by 2028.

Opportunities: Prevalence of kidney and liver diseases across the globe is projected to offer abundant growth opportunities for the urinalysis market by 2028. In addition, rising death rates in Ivory Coast, Egypt, Nigeria, etc. are higher as compared to other regions. This is yet another factor predicted to boost the demand for urine test strips and other consumables in the 2021-2028 timeframe.

Restraints: High investments in developing urinalysis product manufacturing units is the major factor to hinder the market growth.

Download a PDF Sample of the Urinalysis Market (Including Tables, TOC, and Figures)

Covid-19 Impact on the Market:

The onset of the corona virus has hurled sectors like petroleum retail, tourism industry, transportation, etc. and have forced several others to reconsider their business models. The pandemic has also negatively impacted the global urinalysis market. Disturbances in supply chains and temporary halt of production operations led to decreased demand for urine tests and strips across the globe. In addition, growing number of corona virus cases and its severe symptoms also hindered sales of majority of companies.

However, with significant market players coming up with strategic partnerships and product advancements is predicted to revive the growth of the urinalysis market post pandemic chaos.

How COVID -19 Pandemic has Positive Growth for Urinalysis Market? Get in Touch with our Expert

Segments of the Market:

The report has fragmented the urinalysis market into several segments based on product, application, end-user, and regional analysis.

  • By product, the instruments sub-segment is anticipated to have a lucrative growth and gather a revenue of $1,528.4 million by 2028. This growth is attributed to the enormous benefits of integrated and automated urine analyzers along with growing investments in the medical devices sector. In addition, increasing healthcare expenditure and rising incidence of UTIs, diabetes, kidney diseases, etc. among the geriatric population is another factor expected to bolster the sub-segment's growth during the forecast years.
  • By application, the UTIs sub-segment is estimated to have the highest growth rate and register a revenue of $1,933.0 million by 2028. Rising demand for early diagnosis of urinary tract infections (UTIs) and increasing awareness about regular health checkups are the prime factors predicted to augment the urinalysis market's sub-segment's growth during the analysis period. In addition, innovative product launches by significant market players is projected to further accelerate the sub-segment's development by 2028.
  • By end-user, the home healthcare sub-segment is anticipated to grow at a notable CAGR and surpass $684.4 million in the 2021-2028 period. The rising utilization of automation in urinalysis is projected to accelerate the demand for self-test urinalysis devices during the analysis period. In addition, noteworthy product advancement initiatives by key market players is yet another factor to bolster the sub-segment's growth by 2028.
  • By regional analysis, urinalysis market in the Asia-Pacific region is expected to garner a revenue of $902.8 million by 2028 due to growing demand for advanced kidney and liver diseases diagnostics in countries like China, South Korea, and India. In addition, prevalence of diabetes, UTIs, hypertension, lack of expertise, and poor healthcare infrastructure are some factors estimated to boost the market growth in the Asia-Pacific region by 2028.

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Prominent Market Players:

Some prominent urinalysis market players are

  1. Sysmex Corporation
  2. Cardinal Health, Inc.
  3. Siemens Healthineers AG
  4. ARKRAY, Inc.
  5. F. Hoffmann-La Roche Ltd.
  6. Becton, Dickinson and Company
  7. Abbott Laboratories
  8. Thermo Fisher Scientific Inc.
  9. Danaher Corporation
  10. Bio-Rad Laboratories, Inc.,

These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.

For example, in December 2021, Komfo Anokye Teaching Hospital (KATH), announced its acquisition of Sysmex Corporation's latest urinalysis analyzer. Sysmex is a Japan-based healthcare organization that had produced the analyzer that can be used in the diagnosis of diabetes, kidney, and other non-communicable and infectious diseases.

The report also sums up various crucial facets including financial performance of the market players, SWOT analysis, product portfolio, and the latest strategic developments.

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