Global Urinalysis Test Market Driven by Increasing Prevalence of Chronic Kidney Disease and Diabetes
By LabMedica International staff writers Posted on 14 Apr 2023 |
The global urinalysis test market is growing due to factors such as the rising prevalence of chronic diseases like chronic kidney disease and diabetes, an increase in the geriatric population, and heightened awareness about the importance of regular health checkups. However, market growth is hindered by a shortage of skilled laboratory technicians. Nonetheless, the development of advanced urine analyzers is expected to create new growth opportunities in the near future. As a result, the global urinalysis test market, valued at USD 3.19 billion in 2021, is projected to experience a CAGR of 6.7% from 2022 to 2031, reaching USD 6.12 billion by 2031. These are the latest findings of Allied Market Research (Portland, OR, USA), a market research firm.
The COVID-19 pandemic adversely impacted the global urinalysis test market, as demand for urinalysis devices and consumables decreased due to lower hospitalization rates. Furthermore, sales of urinalysis tests declined during the early stages of the pandemic, and reduced hospital visits for urinalysis tests led to a decline in the adoption of urinalysis devices, thereby hampering market growth. However, the market has gradually recovered and is expected to grow steadily, primarily driven by the increasing incidence of urological disorders.
In 2021, the consumables segment held the largest share of the global urinalysis test market, accounting for over three-fourths of total revenue, and is expected to maintain its dominance throughout the forecast period. This segment is also projected to register the fastest CAGR of 6.9% during this time, owing to technological advancements in urinalysis consumables and high adoption of reagents and strips.
The disease screening segment held the largest share of the global urinalysis test market in 2021, accounting for over half of total revenue, and is expected to remain dominant throughout the forecast period. This segment is also expected to register the fastest CAGR of 7% during this time, mainly due to increased adoption of urinalysis devices for disease screening.
In 2021, the diagnostic laboratories segment accounted for the largest share of the global urinalysis test market, contributing around two-fifths of total revenue, and is expected to maintain its dominance throughout the forecast period. This segment is also expected to register the fastest CAGR of 7% during this time, primarily due to an increase in the prevalence of chronic diseases such as diabetes and kidney disease, which has led to a surge in demand for urinalysis tests among diagnostic laboratories.
Regionally, North America held the largest share of the global urinalysis test market in 2021, accounting for over two-fifths of total revenue, and is likely to continue dominating the market during the forecast period. Factors such as easy availability of diagnostic products, well-developed healthcare infrastructure, increased awareness about early disease diagnosis, and higher adoption of advanced diagnostic tools drive the growth of the North American urinalysis test market. However, the Asia-Pacific urinalysis test market is expected to register the fastest CAGR of 7.4% during the forecast period, driven by increased health awareness, development in healthcare infrastructure, and a surge in awareness of preventive healthcare in the region.
Related Links:
Allied Market Research
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