Urinalysis Market size worth $ 7.2 Billion, Globally, by 2027 at 9.2% CAGR: Nova one Advisor

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New York, United States: The Report on Urinalysis Market by Decisive Markets Insights was released in the middle of Covid -19 after a thorough analysis of the top players and primary interviews with key industry figures. A market study from Urinalysis Market examines the market size, segmentation, future trends, growth rate, drivers and challenges, as well as the sales channels and distributors.

The global Urinalysis market gathered revenue around USD 2.9 Billion in 2020 and market is set to grow USD 7.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.2% during the prediction period 2021 to 2027.

Overview of Urinalysis Market Study

Urinalysis 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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Market Dynamics
Driver: Rising geriatric population and the subsequent increase in age-associated diseases
The rising geriatric population in developed and developing regions will positively influence the growth of the urinalysis market. Due to rapid growth in the senior population, the prevalence of age-associated diseases such as diabetes, liver, and kidney diseases are expected to increase significantly. The diagnosis and management of such diseases are responsible for the increasing number of prescriptions for tests such as creatinine, albumin, glucose, ketones, and bilirubin, etc. These tests are performed by urinalysis; hence, it is expected to have a positive impact on this market.

Opportunity: Growth opportunities for urinalysis in growing economies
Developing economies such as India, South Korea, Brazil, and Mexico are expected to offer potential growth opportunities for major players operating in the urinalysis market. This can be attributed to the high disease prevalence, large patient population, improving healthcare infrastructure, increasing disposable income, and growing medical tourism in these countries. In addition to the factors mentioned above, the Asia Pacific has emerged as an adaptive and business-friendly hub due to relatively less stringent regulations and data requirements. Moreover, as markets in the US and Europe are maturing, most players are shifting their focus to emerging markets. The high investments in healthcare and life sciences research in emerging markets play an essential role in upgrading laboratory infrastructure in these countries. This, in turn, supports the installation of diagnostic systems in laboratories and leads to the growth of the urinalysis market.

Restraint: Unfavourable reimbursement scenario
The availability of refurbished instruments acts as a challenge in the growth of this market as these instruments offer the same functionalities as new equipment at a lower cost. Several end users, mainly small and medium-sized laboratories, opt for cost-effective and refurbished systems. In particular, the markets in developing countries, which are price-sensitive, prefer instruments that are cheap and offer similar functionalities. In the absence of well-grounded regulatory frameworks, there may be an influx of low-quality and refurbished products into the economy. Considering these factors, the demand for refurbished analyzers can be expected to increase in the coming years, as these systems offer the same functionalities at a lower cost. This is expected to hamper the revenue of companies offering branded analyzers, and thus restraining the overall growth of the market.

“In 2020, consumables segment accounted for the largest share of the urinalysis market, by product”
Based on product, the urinalysis market is segmented into consumables and instruments. In 2020, the consumables segment accounted for the largest share of this market. The frequent purchase of these products due to their recurrent usage drives the market growth of this segment.

“In 2020, disease screening segment accounted for the largest share in the market, by application”
The urinalysis market is segmented into disease screening and pregnancy and fertility. In 2020, the disease screening segment accounted for the largest share. This can be attributed to the increasing incidence of UTIs, diabetes, liver diseases and kidney ailments worldwide.

“North America is the largest regional market for the urinalysis”
The global urinalysis market is segmented into North America, Europe, Asia PacificRest of the World. In 2020, North America accounted for the largest share of the global urinalysis market. The North American urinalysis market’s growth can be attributed to the growing geriatric population, implementation of favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and the availability of technologically advanced instruments.

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COVID-19 Impact on Urinalysis 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 Urinalysis 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 Urinalysis 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 Urinalysis 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 Urinalysis market include:  Siemens Healthineers AG, F. Hoffmann-La Roche Ltd., Cardinal Health, Inc., Abbott Laboratories, Danaher Corporation, Sysmex Corporation, Quidel Corporation, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc. , EKF Diagnostics, Thermo Fisher Scientific Inc., ARKRAY, Inc., ACON Laboratories, Inc., 77 Elektronika Kft., URIT Medical Electronic Group Co., Ltd., Dirui Industrial Co., Ltd.

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

  • Consumables
    • Pregnancy & Fertility Kits
    • Dipsticks
    • Disposables
    • Reagents
  • Instruments
    • Automated Urine Analyzers
      • Biochemical Urine Analyzers
        • Sediment Urine Analyzers
        • Microscopy Analyzers
      • Flow Cytometry Analyzers
      • Integrated Urine Analyzers
    • Semi-automated Urine Analyzers
    • Point-of-Care Urine Analyzers

By Test Type

  • Pregnancy & Fertility Tests
  • Biochemical Urinalysis
    • Laboratory Tests
    • POC Tests
  • Sediment Urinalysis

By Application

  • Disease Screening
    • Urinary Tract Infections
    • Kidney Diseases
    • Diabetes
    • Liver Diseases
    • Other Disease Screening Applications
  • Pregnancy and Fertility

By End User

  • Diagnostic Laboratories
  • Hospitals and Clinics
  • Home Care Settings
  • Research Laboratories & Institutes

Why Buy this Report?

The purpose of Nova one advisor’s Urinalysis 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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