Urinalysis Market Growing at a rapid pace in the Foreseeable Future
The global urinalysis market is witnessing considerable growth due to increasing prevalence of diabetes, increasing geriatric population, increasing prevalence of kidney diseases and growing urinary tract infections (UTI). Moreover, increasing healthcare expenditure increases the affordability of patients leading to the increased sales of urinalysis products, supporting the growth of the market. Based on product, the consumables segment is expected to grow at a faster rate during the forecast period, compared to instrument segment.
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The rapid growth in emerging economies and technological development in the in vitro diagnostics industry with the advent of portable and battery operated urinalysis device is expected to create revenue generation opportunities for the manufacturers of urinalysis products. However, high cost of urinalysis equipment and stringent regulatory requirements are the key factors hampering the growth of the global market.
Urinalysis is a screening test which includes visual, chemical and microscopic examinations used to detect the presence of substances such as crystals or casts, cells, and cell fragments in the urine. It is widely adopted across the globe to detect liver problems, UTI, diabetes and pregnancy in patients.
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The key players operating in the global urinalysis market are F. Hoffmann-LA Roche AG, Danaher Corporation, Siemens AG, Sysmex Corporation, Bio-Rad Laboratories, Inc., Mindray Medical International Limited, Acon Laboratories, Inc., Arkray, Inc. and Urit Medical Electronic Group Co., Ltd.
Source: P&S Intelligence
