CHICAGO, Feb. 7, 2023 /PRNewswire/ -- As the market for urinalysis future business grows, other companies are entering the market offering innovative solutions. These companies are leveraging advanced analytics, machine learning, and artificial intelligence to provide insights into urinary health. In addition, companies like Urinalysis are partnering with medical device companies to develop urine analysis devices for home use. Overall, the urinalysis future business is an exciting and rapidly growing industry. The technology is revolutionizing the way urine is monitored and managed, providing unprecedented insights into urinary health. With the proliferation of new technologies, companies are finding innovative ways to leverage data and insights to improve patient outcomes.
Urinalysis Market in terms of revenue was estimated to be worth $3.9 billion in 2022 and is poised to reach $5.7 billion by 2027, growing at a CAGR of 8.1% from 2022 to 2027 according to a new report by MarketsandMarkets. Development of new diagnostic products and, government support boosting the market. Emerging economies such as India and Japan are providing lucrative opportunities for the players operating in the urinalysis market.
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Urinalysis Market Scope:
Report Coverage | Details |
Market Revenue in 2022 | $3.9 billion |
Estimated Value by 2027 | $5.7 billion |
Growth Rate | Poised to grow at a CAGR of 8.1% |
Market Size Available for | 2020-2027 |
Forecast Period | 2022-2027 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Test Type, Application, end user and region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Emerging market |
Key Market Drivers | Increasing burden of UTIs, diabetes and liver & kidney diseases |
The consumables segment accounted for the largest share of the urinalysis market, by product segment, in 2021
Based on product, the urinalysis market is segmented into consumables and instruments. The consumables segment accounted for the largest share of the urinalysis market, mainly due to the growth of POC diagnostics products market, advancing diagnosis technologies with efficient and rapid results and increased emerging opportunities.
The pregnancy & fertility tests segment accounted for the largest share of the urinalysis market, by test type segment, in 2021
Based on test type, the urinalysis market is segmented into pregnancy & fertility tests, biochemical tests and sediment urinalysis. The pregnancy & fertility tests segment accounted for the largest share of the urinalysis market, mainly due to the growth of public awareness about early pregnancy detection and increased R&D investments in healthcare.
The diseases screening segment accounted for the largest share of the urinalysis market, by application segment, in 2021
Based on application, the urinalysis market is segmented into disease screening and pregnancy & fertility tests. The disease screening segment accounted for the largest share of the urinalysis market, mainly due to the technological advancements in urine analyzers, increased focus on preventive care and increased funding for diagnostic research.
Diagnostic laboratories segment to register the highest growth rate during the forecast period
The urinalysis market is segmented into diagnostic laboratories, hospitals & clinics, home care settings and research laboratories and institutes based on end user. In 2021, the diagnostic laboratories segment accounted for the largest share of the urinalysis market. The large share of this segment can mainly be attributed to the increased investment in the biotech and pharmaceutical industry, increased R&D in the POC diagnostic segment.
North America is the largest regional market for urinalysis market
The global urinalysis market is segmented into five major regions-North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for urinalysis market in 2021. The large share of North America in this market can be attributed to the government's support for research in the region, increased government funsing for the development of preventive care diagnostics.
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Urinalysis Market Dynamics:
Drivers:
- Increasing burden of UTIs, diabetes, and liver & kidney diseases to impact market
- Rising geriatric population and age-associated diseases to fuel market growth
- Increasing adoption of POC urine diagnostic tests to drive market
- Innovations in Urinalysis
Restraints:
- Availability of refurbished urine analyzers to pose challenges for market
- High capital investments and lack of skilled laboratory technicians to restrain market growth
Opportunities:
- Increasing investments in healthcare and life sciences to fuel growth in emerging markets
- Technological advancements in urine analyzers to augment market growth
- Increasing government initiatives and funding for preventive care to provide growth opportunities
Challenges:
- Changing regulatory landscape to challenge market growth
Key Market Players:
The major players operating in urinalysis market are Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Cardinal Health, Inc. (US), Abbott Laboratories (US), Danaher Corporation (US), Sysmex Corporation (Japan), Thermo Fisher Scientific, Inc. (US), Quidel Corporation (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US) and EKF Diagnostics (UK).
Recent Developments:
- In September 2022, Sysmex Corporation (Japan) launched the UF-1500 fully automated urine particle analyzer, a Product for the urine sediment testing field.
- In February 2021, Thermo Fisher Scientific, Inc. (US) and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) signed an agreement to offer the FDA-cleared and Health Canada-approved BS-480 (400 tests/hour) and BA-800M (800 tests/hour) analyzers to toxicology labs.
- In August 2020, Sysmex America, Inc. (a subsidiary of Sysmex Corporation) and Siemens Healthineers AG (Germany) announced an exclusive agreement.
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