Kidney/Renal Function Test Market

Market Leader - Kidney/Renal Function Test Market

The global kidney function/renal function test market is expected to reach USD 790.1 Million by 2022 from USD 586.5 Million in 2017 at a CAGR of 6.1% during the forecast period. Growth in the kidney function/renal function test market can primarily be attributed to factors such as the rising prevalence of kidney disease, growing prevalence of diabetes and hypertension, rapid growth in the global geriatric population, and a rise in alcohol consumption.

Expansions and product development (product approvals and product launches were the key strategies adopted by players from 2014 and 2017. The key players that adopted these strategies include Abbott (US), Roche (Switzerland), Beckman Coulter (US), and Siemens (Germany).

Expansion was the key growth strategy adopted by players in the kidney function tests market from 2014 to 2017. This organic growth strategy aimed at leveraging company resources, upgrading facilities, expanding geographic presence, strengthening distribution networks, and catering to the needs of a growing customer base. The key players that adopted this strategy include ARKRAY (Japan), Sysmex (Japan), Nova Biomedical (US), Beckman Coulter (US), and Biosynex (France).

Product development was also a common strategy adopted by players in the kidney function tests market from 2014 to 2017. Players adopted this strategy to develop, commercialize, and expand their product portfolio, to strengthen their customer base, and to provide better products to their clients. A key player that focused heavily on this strategy is ARKRAY (Japan).

Companies also adopted other strategies such as acquisitions and agreements to strengthen their existing market position and enhance their market share. Abbott (US) was the major player that adopted this strategy.

Few of the instances of the strategies followed by the players have been discussed below:

  • In February 2017, ARKRAY (Japan) launched the Uriflet S 11UA-the urine strip measure 11 qualitative test, including albumin/creatinine ratio and protein/creatinine ratio.
  • In September 2016, Nova Biomedical (US) opened a new subsidiary in Brazil. With this expansion, the company aims to provide sale and service support to its customers in the country.
  • In February 2016, Abbott (US) acquired Alere (US) to strengthen and expand its diagnostics presence across the globe.

Related Reports:

Kidney/Renal Function Test Market by Product (Dipsticks, Reagents, Disposables), Type (Urine Test (Urine Protein, Microalbumin, Creatinine Clearance), Blood Test (Serum Creatinine, BUN)), End User -Global Forecast to 2022

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Report Code
MD 5834
Published ON
Dec, 2017
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