Albumin & Creatinine Tests Market to Outstrip $2,501 Million by 2027 Growing Sturdy at 17.6% CAGR |Nova one advisor

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[150+ Pages Research Report] According to the recent analysis research report; the global Albumin & Creatinine Tests Market in 2020 was approximately USD 990 million. The market is expected to grow at a CAGR of 17.6% and is anticipated to reach around USD 2,501 million by 2027. Top market players are Thermo Fisher Scientific, Inc. (US), Roche Diagnostics (Switzerland), PromoCell GmbH (Germany), Abbott Laboratories (US), Siemens Healthineers (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Randox Laboratories (UK), FUJIFILM Wako Pure Chemical Corporation (Japan), Abbexa Ltd. (UK), ACON Laboratories, Inc. (US), Arbor Assays Inc. (US), ARKRAY Global Business Inc. (Japan), Aviva Systems Biology (US), Axxora, LLC (UK), BioAssay Systems (US), Nova Biomedical (US)

Overview of Albumin & Creatinine Tests Market Study

Albumin & Creatinine Tests market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

The growth of the global albumin & creatinine tests market is driven by the growing prevalence of kidney disorders/diseases, the rising adoption of POC diagnostics, and the increasing prevalence of chronic conditions.

Market Dynamics

Driver: Rising prevalence of kidney disorders

Kidney disease is one of the leading causes of death across the globe. Such cases—involving multiple kidney treatments—require the regular monitoring of components like creatinine and albumin and their ratios, for which multiple urine analysis products and techniques are used. Urine analysis has widespread applications in the diagnosis and management of kidney diseases. Biochemical urine analysis enables clinicians to assess the level of chemical compounds (such as creatinine, urobilinogen, bilirubin, ketones, and glucose) in the urine. Abnormal levels of these compounds in the urine indicate chronic kidney diseases, acute kidney injuries, and acute renal failure. Thus, the growing incidence of kidney diseases will be the primary growth driver for this market, as it will ensure sustained demand for albumin and creatinine tests.

Opportunity: Integrated and automated systems for overall urine analysis

The integration of automated urine sediment and urine biochemical analysis in one system allows rapid and easy urine analysis. At present, standalone automated urine sediment analyzers help standardize sediment & biochemical analysis with minimum operator interference and enable the rapid analysis of urine samples. Such integrated systems have a huge potential in the automated devices market and can help large hospitals and diagnostic labs to manage their workloads efficiently. As a result, this area has been identified as an opportunity in the market.

Challenges: High cost of automated analyzers

Most small hospitals and clinics with lower workloads still prefer semi-automated devices or manual analysis. Automated devices are primarily used by large hospitals with higher workloads; thus, the revenue generation can justify the costs incurred in installing automated analyzers. This makes it difficult for automated analyzers to penetrate the market, specifically in developing economies, which is a major challenge to market growth.

Dipsticks & kits products segment accounted for the largest share of the albumin & creatinine tests market, by product & service, in 2019

The albumin & creatinine tests market is segmented into dipsticks & kits, analyzers, cartridges, and reagents & other consumables. In 2019, the dipsticks & kits segment accounted for the largest share in this market. The frequent purchase of these products compared to instruments like analyzers and cartridges and the increasing use of kit-based rapid techniques for albumin & creatinine tests drive market growth.

Urine Tests segment accounted for the largest share in the market, by type, in 2019

Based on type, the albumin & creatinine tests market is segmented into urine tests, and blood & serum creatinine tests. In 2019, urine tests accounted for the largest share in this market. Factors such as the rapid growth in the diagnostics segment and the increasing demand for rapid and easy-to-use urine tests drive the growth of this segment.

North America is the largest regional market for albumin & creatinine tests market

The global albumin & creatinine tests market is segmented into North America, Europe, the Asia Pacific, Latin America and Middle East & Africa. In 2019, North America accounted for the largest share of the global albumin & creatinine tests market. The large share of this regional segment can primarily be attributed to the growth in demand for rapid urine tests, increasing prevalence of chronic conditions leading to various kidney diseases, rising government initiatives, and growing geriatric population.

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COVID-19 Impact on Albumin & Creatinine Tests Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Albumin & Creatinine Tests market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Albumin & Creatinine Tests market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Albumin & Creatinine Tests market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Albumin & Creatinine Tests market include:

Thermo Fisher Scientific, Inc. (US), Roche Diagnostics (Switzerland), PromoCell GmbH (Germany), Abbott Laboratories (US), Siemens Healthineers (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Randox Laboratories (UK), FUJIFILM Wako Pure Chemical Corporation (Japan), Abbexa Ltd. (UK), ACON Laboratories, Inc. (US), Arbor Assays Inc. (US), ARKRAY Global Business Inc. (Japan), Aviva Systems Biology (US), Axxora, LLC (UK), BioAssay Systems (US), Nova Biomedical (US), Quantimetrix Corporation (US), RayBiotech Inc. (US), Sekisui Diagnostics PEI Inc. (US), Teco Diagnostics (US), Tulip Diagnostics (India), ulti med Products GmbH (Germany), and URIT Medical Electronic Co., Ltd. (China).

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Product

  • Dipsticks & Kits
  • Analyzers
  • Cartridges
    • Cartridges for POC Analyzers
    • Cartridges for Table-Top Analyzers
  • Reagents & Other Consumables

By Type

  • Urine Tests
    • Urine Albumin Tests
    • Urine Creatinine Tests
    • Glycated Albumin
  • Blood & Serum Creatinine Tests

By End User

  • Hospitals & Clinics’
  • Diagnostic Laboratories
  • Research Laboratories & Institutes

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/albumin–creatinine-tests-market

Why Buy this Report?

The purpose of Nova one advisor’s Albumin & Creatinine Tests market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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