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3. Roche Diagnostics Limited. (Switzerland) and Abbott (US) are Leading Players in the Cystatin C Assay Market

The global cystatin C assay market is projected to reach USD 540 million by 2028 from USD 377 million in 2023, at a CAGR of 7.5% during the forecast period. The growth of this market is due to the rising prevalence of kidney diseases, growing geriatric population, growth in biotechnology and biopharmaceutical industries. However, dearth of skilled professionals may restrain the growth of this market.

The cystatin C assay market is consolidated and is dominated by various players. Roche Diagnostics Limited. (Switzerland), Siemens Healthcare GmbH (Germany), Thermo Fisher Scientific Inc. (US), Randox Laboratories Ltd. (UK), DiaSys Diagnostic Systems GmbH (Germany), Bio-Techne (US), Gentian Diagnostics ASA (Norway), Getein Biotech, Inc. (China), Agilent Technologies, Inc. (US), Abcam plc. (UK), Sino Biological, Inc. (China), Eurolyser Diagnostica GmbH (Austria), KAMIYA BIOMEDICAL COMPANY (US), Diazyme Laboratories, Inc (US), and Cepham Life Sciences (US).

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Roche Diagnostics Limited. (Switzerland)

Roche accounted for the largest share of the bone cement market in 2022. Roche is one of the key  players in the global Cystatin C Assay market. The company is an established player in the Diagnostics segment, and its Cystatin C Assay products are well-accepted in the market. The company’s wide product portfolio and strong geographic presence have helped it gain a competitive edge in the market. Roche has a strong direct and indirect distribution network across the globe. This helps insulate its business from demand fluctuations in various geographies. Roche also strategically invests in R&D to strengthen its position in the market. It invested USD 11.77 billion, USD 12.96 billion, USD 15.0 billion, and USD 15.2 billion in 2019, 2020,2021, and 2022 respectively, in R&D activities. Its strong investments in innovative products have helped it become a reputable player in the cystatin C assay market. This rise in R&D spending indicates the company’s increased focus on innovation and diversification in emerging markets. The company partners with third parties to offer integrated solutions. Roche’s access strategy focuses on four key factors: affordability, capacity, outcomes certainty, and values. The firm implements tailored pricing solutions to ensure maximum patient access and focuses on new pricing models for innovative products. The company mainly adopts inorganic strategies to sustain its presence in this market. Roche focuses on strategies such as mergers & acquisitions to garner a larger market share. In March 2021, Roche acquired GenMark Diagnostics at USD 24.05 per share and a total transactional value of USD 1.8 billion. The acquisition strengthened Roche’s Diagnostics portfolio.

Abbott (US)

Abbott held the second-largest share of the bone cement market in 2022. Abbott is among the leading players in the global immunoassay market. The company has a strong presence in the US and seeks to enhance its geographical presence by strengthening its business operations in emerging markets. The company has a strong product portfolio, and its FDA- and CE-approved products have helped it gain a sizable share of the cystatin c assay market. Abbott also invests a significant amount of its revenue in R&D to develop new products in the cystatin c assay market. The company invested USD 2.44 billion, USD 2.42 billion, USD 2.74 billion, and USD 2.88 billion in R&D in 2019, 2020, 2021, and 2022. Abbott’s products are sold to a geographically diverse customer base. The company continues to improve its global supply chain, which helps ensure continued access to its products. This is expected to help the company retain its position in the market. In addition, Abbott has pursued a strategy of diversification by operating in various healthcare segments. This approach allows the company to mitigate risks associated with fluctuations in specific markets and capitalize on growth opportunities across different healthcare sectors

Thermo fisher scientific inc.

Thermo fisher accounted for the third largest share of the cystatin C assay market in 2022. Thermo Fisher Scientific is a global leader in serving science, providing a wide range of scientific and laboratory products and services. The company’s strategies have evolved over time to position it as a leading player in the scientific research, healthcare, and diagnostics industries. In 2022, Thermo Fisher’s Specialty Diagnostics business segment registered a considerable rise in R&D expenses increased compared to 2020, primarily to speed up innovation in major investment areas. The company operates on a global scale and has focused on expanding its presence in key markets worldwide. This includes establishing a strong presence in emerging markets where scientific research and healthcare are growing. The company has diversified its product and service offerings across various scientific disciplines. It serves a wide range of industries, including life sciences, healthcare, diagnostics, analytical instruments, and environmental testing. Thermo Fisher places a strong emphasis on R&D to drive innovation. This includes developing new products, technologies, and solutions to address the evolving needs of its customers in research, healthcare, and diagnostics.

Related Reports:

Cystatin C Assay Market by Product (Analyzers, Kits, Reagents), Method (ELISA, PETIA, IFA, CLIA, PENIA), Application (Diagnostics, Research), Sample Type (Blood, Urine), End User (Hospitals, Clinical Laboratories), Region- Global Forecast to 2028

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