The global urinalysis market size is projected to reach USD 4.9 billion by 2026 from USD 3.5 billion in 2021, at a CAGR of 7.2%. Market growth is driven by the increasing burden of UTIs, diabetes, and kidney & liver diseases; rising geriatric population and the subsequent increase in age-associated diseases and increasing adoption of POC diagnostic tests.
The COVID-19 pandemic negatively affected the overall sales of most of the companies Lockdowns resulting from the COVID-19 pandemic caused people to delay undergoing health checkups, thus affecting the number of tests being performed and sales of reagents.
With the COVID-19 pandemic, in addition to the development of vaccines and therapeutic drugs, there is a growing call for the development of more precise and simple testing technologies and the expansion of testing structures. COVID-19 has also impacted the regulatory environment and practices, as governments and healthcare providers face unprecedented challenges.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153479294
Regulatory authorities utilized methods to speed approval of diagnostic products. Companies have taken strategic developments to introduce COVID-19 rapid tests, sustain their revenues, and nullify the impact of COVID-19 on their operational capabilities.
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.
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.
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.
Some Key Players in the Urinalysis (2021- 2026)
- Siemens Healthineers AG (Germany)
- Roche Diagnostics Ltd. (Switzerland)
- Cardinal Health Inc. (US)
- Abbott Laboratories (US)
- Danaher Corporation (US)