A recent report published by Infinium Global Research on creatinine test market provides an in-depth analysis of segments and sub-segments in the global as well as the regional creatinine test industry
Pune, India -- (SBWIRE) -- 11/27/2019 -- The Infinium Global Research analyzes the "Creatinine Test Market (Product - Instruments, and Consumables; Test - Urine Test, and Blood Test; Application - Kidney Cancer, Urinary Tract Obstruction, Glomerulonephritis, and Renal Failure; End User - Diagnostic Centers, Clinics and Hospitals, and Research Institute): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". Creatinine test market size is estimated at USD 35.6 Million in 2018 and is projected to reach USD 58.5 Million by 2025, at a CAGR of 7.10%.
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Creatinine is a waste product formed by muscle metabolism. Creatinine test measures the amount of creatinine in the blood and urine. Levels of creatinine in the blood reveal both the amount of muscle a person has and their amount of kidney function.
Initiatives by Government Regarding Renal Health Drive the Growth of Creatinine Test Market
Growing prevalence and recurrence of kidney diseases across the globe is expected to be the major contributor to the growth of the creatinine test market. According to the American Kidney Fund, around 30 million people in the U.S. are living with chronic kidney disease (CKD). Furthermore, favorable government initiatives to promote renal health is anticipated to fuel the market in the forecast period. However, a lack of accuracy or false estimates may hamper the market in the near future. Nevertheless, high growth potential in emerging nations is expected to provide new growth avenues to the market in the forecast period. According to the world health organization, 1.2 million people died from kidney failure in 2015.
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Rise in Healthcare Budgets Fuel Growth for Sub-Segment Hospitals and Clinics
By test type, the market is segmented into a urine test and blood test. Urine tests accounted for a sizeable share in the market in 2018. The ease in sample collection technique compared to blood tests and the limited risk of infection during sample collection driving the growth of this segment. Based on end-use, the global creatinine test market has bifurcated into diagnostic centers, clinics & hospitals and research institutes. The hospitals and clinics segment is expected to contribute to the market owing to the rise in healthcare budgets of various nations. Kidney cancer, urinary tract obstruction, glomerulonephritis, and renal failure are the key application of the creatinine test market in the coming years.
Prevailing Number of People Suffering From Chronic Diseases Drive the Market for the Region North America
North America is the most dynamic, highly competitive and the largest market for creatinine tests globally. The major driving factor, which has driven the growth of the creatinine test market in this region, is the rising prevalence of chronic kidney disease. Growth in the region is mainly backend by the U.S followed by Canada and Mexico. The European creatinine test market had been the most dynamic region in 2018. Europe is expected to grow at a steady rate within the forecast period. Asia-Pacific region remains bright, and the industry is projected to grow at the highest CAGR during 2018-2023. The high prevalence of chronic diseases such as kidney disease, obesity, diabetes, and others mainly attribute this growth. ROW also shows a steady rise in the market owing to the rising demand for diagnostic services, and a growing emphasis on diagnosis and treatment of kidney disease.
Creatinine Test Market: Competitive Landscape
The global creatinine test market is highly competitive. The prominent players in the global creatinine market are Abbott Laboratories, Abcam Plc, Siemens AG, Quest Diagnostic, Thermo Fisher Scientific, Inc., Acon Laboratories, Inc., and Nova Biomedical Corporation among others. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.
Browse Detailed TOC and Description of "Creatinine Test Market"
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the creatinine test.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.