The global kidney function tests market is expected to reach USD 1.9 billion by 2025, according to a new study by Hexa Reports. The growing prevalence of Chronic Kidney Diseases (CKD) and renal failure is presumed to be responsible for the high urgency to use kidney function tests, which is anticipated tobroaden the scope for growth throughout the forecast period.
In addition, expanding base of diabetic population, which is highly susceptible to the aforementioned diseases, is predicted to impel the demand further over the coming years. Consequently, resultant high sample volume will require high capability kidney function testing devices, which is believed to present the market with significant growth potential opportunities.
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In addition, growing awareness with respect to diagnostic benefits associated with kidney function tests is also anticipated to be one of the high impact rendering drivers for this market. Emergence of technologically advanced products, such as automated analyzers, has led to refinement of current real-time point-of-care testing capabilities and, therefore, creates lucrative growth opportunities for the market.
Furthermore, presence of public as well private healthcare organizations consistently striving to support diagnosis and management of CKD through a range of programs and initiatives is expected to create potential demand.
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Further Key Findings From the Study Suggest:
- Imaging tests are expected to exhibit lucrative CAGR owing to increasing adoption in wide array of clinical applications. The high penetration can be attributed to efficient renal function risk assessment due to abnormal results generated through other tests
- Diagnostic laboratories are anticipated to exhibit lucrative CAGR during the forecast period owing to increasing preference for point-of-care testing by clinicians
- In 2016, North America held a dominant share of the global kidney function tests market, as a consequence of increasing local presence of prominent companies undertaking competitive sustainability strategies
- Asia Pacific is anticipated to grow at an exponential CAGR owing to unmet needs of patients, continuous infrastructural & technological upgradation, and increasing healthcare expenditure
- Some key participants such as Abbott Laboratories; Merck Millipore; Alere, Inc.; and Quest Diagnostics are implementing various competitive strategies, such as new product development & frequent product approvals, to maintain their position in the market
- For instance, in March 2015, metropolis announced the launch of a kidney function test, a PLA2R antibody test, that detects and evaluates intensity of membranous nephropathy
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