Urinalysis is the detailed analysis of urine to diagnose and treat certain diseases. Urinalysis is performed on small amount of fresh urine and various physical and chemical parameters are observed. In order to perform urinalysis, various urine analyzers are used with consumables, reagent strips, and various chemicals.
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the urinalysis market, has been provided in this report. Market revenue for all the above mentioned segments and their sub-segments has been provided for the forecast period from 2016 to 2024, considering 2015 as the base year and 2014 as the historical year, along with compound annual growth rate (CAGR %) for the forecast period from 2016 to 2024. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc. Pricing analysis, for every region has been provided considering the average selling prices (ASP) of products in these regions.
The research methodology is a combination of primary and secondary researches. Primary research includes information collected via e-mails and telephonic interviews of key opinion leaders (KOL) and forms the bulk of our research. Secondary research includes information collected from various sources, study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
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Growing Diabetic Population to Drive Urinalysis Market
Besides measuring sugar levels in the blood, doctors also monitor it in the urine samples of patients. The rising diabetic population is believed to be a key driver for the global urinalysis market. Not only senior citizens, but children and young adults are also becoming victims of diabetes. In diabetes, it is essential for patients to periodically visit the doctor. These factors are believed to enhance demand for urinalysis products.
Another key driver for the global urinalysis market is the rising number of surgeries and healthcare procedures. With rise in number of diseases and increasing awareness about healthcare, people are prompt to receive treatment at an early stage. Further, support from government and availability of private health insurance eases people’s burden to undergo expensive and complicated surgeries. Patients have to undergo a series of tests before a surgery, of which one of them is urinalysis. The urine samples are tested for presence of bacteria and sugar levels. These aspects are predicted to support demand for urinalysis products in the forecast period.
High Cost Could Deter Growth in the Urinalysis Market
While there are several factors the aid growth in the global urinalysis market. But, there are restraints that could restrict growth. One of them is cost as the equipment is expensive, the cost of tests are also high. This makes it difficult for people in the lower economic strata to afford these procedures.
A relief for players in the urinalysis market is the growing investments in R&D to develop low-cost and efficient products. Further, subsidies from government for poor and support from corporate and non-governmental organizations is also predicted to improve demand in the coming years.
The study presented here is based on a Transparency Market Research report titled “Urinalysis Market (Product Type – Instruments (Chemistry Analyzer, Microscopy Analyzer/Sediment Analyzer, Integrated Chemistry and Sediment Analyzer, and Portable Analyzers) and Consumables (Plastic Consumables, Reagent Strips, and Chemical Agents); Test Type – Macroscopic, Biochemical, and Sediment/Microscopic; Test Setting – Point-of-care and Laboratory-based; End User – Hospitals, Independent Laboratories, and Physician Practices) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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