Urinalysis Market is Predicted to Reach Market over USD 2.14 billion by 2022 Globally |Hexa Reports
The market is segmented on the basis of products into two segments, instruments, and consumables. Automated and semi-automated biochemical urine analyzers, urine sediment analyzers, and microscopic urine analyzers are the majorly used instruments in the “urinalysis market”.
Felton, United States – August 1, 2016 /MarketersMedia/ —
Automation is a key technological advancement affecting the efficiency and accuracy delivered by the new generation urinalysis devices and hence, the persistent demand for novel urinalysis instruments and consumables. For instance, the automatic bench-top and portable biochemical urine analyzers, automated urine sediment analyzers (Aution Hybrid AU-4050 from Arkray),and automated microscopic urine analyzers (Sysmex UF-1000i) are the next generation, advanced instruments is anticipated to foster the urinalysis market growth.
The introduction of CLIA-waived urine reagent strips such as CLIA-URS-10, CLIA-URS-10-3PROMO, and CLIA-URS-10-10 provide for an effective screening tool for rapid testing in urine analysis which are estimated to enhance the usage rates of urinalysis reagents thus accentuating the market growth over the forecast period.
The target population base for urinalysis market is increasing owing to, factors such as the rising prevalence of target diseases, misdiagnosis, and low awareness levels pertaining to urine analysis in low-income countries. High incidences of obesity coupled with hypertension, diabetes, and other chronic disorders foster the growth of the urinalysis market.
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Further key findings from the study suggest:
• Urinary Tract Infections (UTIs)dominated the application segment in 2014. The foremost factor responsible for its high share is the rising prevalence of UTIs, especially in females. However, diabetes is estimated to be the fastest growing application segment with a CAGR of over 10% during the forecast period owing to a surge in the demand for automated and user-friendly urinalysis products for long-term diabetes management.
• Consumables held the largest share with revenue generation of over USD 1 million in 2014. The increasing usage of test strips and reagents for urinalysisis one of the major factors that are attributed to its large market share. However, the instrument segment is expected to witness the fastest growth with a CAGR of over 7%. Automation of instruments with improved efficiency and reliability is expected to govern this segment’s growth.
• The home healthcare segment, on the other hand, is anticipated to grow at a substantial rate over 7.5%. The availability of technologically enabled point-of-care urinalysis systems, such as CLINITEK Status, is a key factor expected to reinforce the market growth.
• North America dominated the overall urinalysis market with a revenue generation of over USD 540 million in 2014. The introduction of advanced urine analyzers by key market players in the U.S., favorable government initiatives ensuring the betterment of healthcare testing, and the high amount of healthcare spending in this region are the key factors attributing to the largest market share of this region.
• Key players of this market include Roche Diagnostics, Alere, Inc., Siemens Healthcare, Bio-Rad, ARKRAY, Inc., Mindray, and Sysmex.
• Market participants are constantly engaged in the introduction of novel diagnostic products in an attempt to ensure their sustainability and increase the penetration of their product portfolio. For instance, in June 2014, Roche launched a fully automated urine testing analyzer named Cobas 6500 with an objective to enhance staff safety and increase the result reliability.
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