Global Albumin and Creatinine Tests Market size is expected to be worth roughly USD 3,697.6 Million by 2030, growing at a CAGR of more than 16% during the projected timeframe of 2022-2030, according to Ameco Research
Kidney illness is the most common cause of death all over the world. Multiple kidney therapeutic interventions necessitate continuous inspection of elements such as creatinine and albumin, as well as their proportion, about which numerous urine evaluation products and methodologies are used. Urine analysis is frequently used in the treatment and diagnosis of chronic kidney disease. Urine albumin and albumin to creatinine ratio tests are used to monitor for kidney damage in people who have chronic circumstances like high blood pressure or diabetes. The albumin and creatinine tests market value continues to grow due to the rising prevalence of chronic diseases and the increasing number of geriatrics. Substantial quantities of protein are excreted in the urine during kidney failure. Before significant kidney damage occurs, abnormal kidneys secrete small amounts of albumin, indicating diabetes mellitus. This is known as microalbuminuria, and the test that measures this minute amount of albumin is known as albumin/creatinine ratio urine (ACRU).
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Global Albumin and Creatinine Tests Market Dynamics
Globally, the probability of chronic kidney disease and ailments is increasing. Individuals are at risk of developing chronic conditions as a result of late presentation of chronic kidney disease (CKD) and hectic schedules. The requirement for albumin experiments for CKD becomes even more significant, resulting in a high market capitalization. In recent years, research findings have revealed an increase in the prevalence of non-communicable diseases, which leads to an increase in the prevalence of CKD. Globally, 850 Mn individuals are impacted by kidney disease, which can be caused by a variety of factors. The disease is more prevalent in society, and many cases of kidney disease/failure go unreported. Moreover, the growing prevalence of kidney disease opens the door for health organizations and foundations to support campaigns and awareness programs. Treatment is becoming a way of life, and the demand for routine tests is increasing, opening new opportunities for the albumin and creatinine tests market trend.
The continuing or prior improvements in how body check-up experiments are carried out are responsible for the market's success. Startup companies are developing low-cost test kits that can perform eight body tests using either blood or urine. The coherent practices of improving such products rely on quick regulatory requirements and healthcare society assistance. The FDA's growing role in this industry has also aided the albumin and creatinine tests market growth. Companies that specialize in developing low-cost tests are increasingly turning to mobile phones and applications to conduct tests. Smartphone ownership in this enterprise market leads to increased investment by operating system and app development businesses. Healthy-IO elevated $60 million in this space through its smartphone-based diagnostic tests.
Market Segmentation
Ameco Research has fragmented the global albumin and creatinine tests market by product, type, and end-user. In terms of type, the market is sub-divided into dipsticks & kits, cartridges, and analyzers. The dipsticks and kits segment held the largest share of this market. The increased utilization of kit-based accelerated methodologies for albumin and creatinine tests, as opposed to instruments such as analyzers and cartridges, drives growth in the economy.
Moreover, in terms of type, the market is further segmented into urine tests (urine albumin test, glycated albumin, and urine creatinine test), and blood & serum creatinine tests. The urine tests segment is expected to have the largest market share in the coming years. The rapid growth of the diagnostics segment, as well as the increasing demand for quick and easy-to-use urine tests, compel the growth of this segment.
Based on the end-user, the segment is sub-categorized into hospitals & clinics, research laboratories & institutes, and diagnostic laboratories. According to the albumin and creatinine tests market forecast, the research laboratories & institutes segment is estimated to grow significantly in the market over the next few years.
Regional Outlook
The global albumin and creatinine tests market is divided into several five regions: North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa. According to a review of the albumin and creatinine tests industry analysis, North America can lead the global market in 2021. North America's market dominance is attributed to the increasing prevalence of chronic kidney disease and diagnostic imaging. The US administration and healthcare society are also working to increase awareness about chronic conditions and their impact on lifestyle.
Aside from that, the Asia-Pacific's growing laboratory capacity and increase in the number of individuals who suffer from hypertension put the region's market in the spotlight. Countries such as India are attempting to expand scientific testing and establish new diagnostic labs in order to increase the number of blood tests as well as BP tests performed.
Market Competitors
Some of the most notable worldwide albumin and creatinine tests market players are Thermo Fisher Scientific, Inc., PromoCell GmbH, Aviva Systems Biology, Sekisui Diagnostics PEI Inc., Siemens Healthineers, Sysmex Corporation, Randox Laboratories, Abbexa Ltd., Arbor Assays Inc., Axxora, LLC, Nova Biomedical, RayBiotech Inc., Teco Diagnostics, Ulti med Products GmbH, Tulip Diagnostics, Abbott Laboratories, Roche Diagnostics, Danaher Corporation, Ortho Clinical Diagnostics, FUJIFILM Wako Pure Chemical Corporation, ACON Laboratories, Inc., BioAssay Systems, Quantimetrix Corporation, ARKRAY Global Business Inc., and URIT Medical Electronic Co., Ltd.
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