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Global Urinalysis Market to Grow at a CAGR of 6.8% During 2021-2026, Aided by Rising Incidence of Chronic Diseases and Resultant Demand for Advanced Diagnostics

According to a new report by EMR titled, ‘Global Urinalysis Market Report and Forecast 2021-2026’, the market attained a value of about USD 1.9 billion in 2020. The industry is further expected to grow at a CAGR of 6.8% in the forecast period of 2021-2026 to reach an approximate value of USD 2.8 billion by 2026.

Regionally, North America is estimated to continue its dominance over the global market for urinalysis due to the increase in incidence of chronic diseases related to kidney and a rising ageing population in the region. Furthermore, expansion of the key market players in the region and increasing healthcare expenditure are some of the promising factors fuelling the growth of this market. On the other hand, the Asia Pacific is likely to witness the fastest growth in terms of CAGR over the forecast period. This trend is aided by the extensive penetration of improved urine analysers in the healthcare sector and the growing market leaders in the region.

The industry for urinalysis has multiple key segments on the basis of product type, applications, and end uses. By product, automated analyser booked for a significant market share owing to the rising incidences of chronic diseases like diabetes, urinary tract infection (UTI), among others, and the associated growing awareness regarding self-diagnosis and regular health check-ups. Likewise, based on its applications, urinalysis is found to have substantial use in the diagnosis of UTI, majorly due to the hospital-acquired urinary tract infections, mainly in females, and efficient diagnosis by urinalysis. By end uses, the segment of clinical laboratories is expected to continue its market position over the forecast period due to the high procedure volumes associated with these establishments.

The market is being driven by the expansion strategies being employed by the industry key players, such as Abbott Laboratories (NYSE: ABT) and Sysmex Corporation. In August 2020, Sysmex America, Inc. publicly declared its collaboration via a mutual agreement with Siemens Healthineers which was expected to grant rights for the distribution of CLINITEK Novus Automated Urine Analyzer for hospital and clinical laboratory use. Such developments in the industry are expected to further the market growth.

Market Analysis by Product, Application, End Use, and Region:

  • The market, on the basis of product, can be divided into instruments and consumables.
  • Based on application, the industry can be divided into urinary tract infections (UTI), diabetes, kidney diseases, hypertension, and liver diseases, among others.
  • The end uses for urinalysis include hospitals, clinical laboratories, home healthcare, research and academics, and others.
  • The regional markets for urinalysis include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growth in the urinalysis industry is driven by the growing geriatric population around the world.
  • The rising incidence of chronic diseases and requirement for associated diagnostics infrastructure is a significant driving force.
  • The rising awareness for regular health check-ups offers additional boost to the market growth.
  • Regulations for regular drug tests and mandatory dope tests during certain events are consistent opportunities for the demand to grow further.
  • The deskbound lifestyle among working individuals fuelled by the epidemic, which calls for improved diagnostics, including urinalysis.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for urinalysis for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, end uses, and regions of urinalysis.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global urinalysis market are Abbott Laboratories, Sysmex Corporation, ACON Laboratories Inc., Bio-Rad Laboratories Inc., and ARKRAY Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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