A urinalysis is a test that measures elements found in urine, such as electrolytes, hormones, or waste products of metabolism. It is also called urine test and involves a number of tests to detect and measure various compounds that pass through the urine.
The global urinalysis market is estimated to account for US$ 1,249.0 Mn in terms of value and is expected to reach US$ 1,779.9 Mn by the end of 2027.
Global Urinalysis Market: Drivers
Approval and launch of new products is expected to propel growth of the global urinalysis market over the forecast period. For instance, in January 2019, Bio-Rad Laboratories, Inc. launched, qUAntify Advance Control, an independent quality control used in clinical labs while performing urine test.
Global Urinalysis Market: Opportunities
Adoption of electronic nose in urinalysis is expected to offer lucrative growth opportunities for players in the global urinalysis market. For instance, in May 2020, researchers from Vrije Universiteit Amsterdam, The Netherlands, reported that in an intention-to-diagnose high-risk pediatric population, urinary tract infections could be discriminated from non- urinary tract infection by volatile organic compounds profiling, using an electronic nose.
Global Urinalysis Market: Restraints
Laboratory staff shortage is expected to hinder growth of the global urinalysis market. Such scenario is majorly present in emerging economies.
The global urinalysis market was valued at US$ 1,183.7 Mn in 2019 and is forecast to reach a value of US$ 1,779.9 Mn by 2027 at a CAGR of 5.2% between 2020 and 2027. Major factor driving the growth of global Urinalysis market during the forecast period include increasing prevalence of kidney diseases, and increasing geriatric population.
Consumables held dominant position in the global urinalysis market in 2019, accounting for 67.5% share in terms of volume, followed by Instruments. Increasing test volume is expected to support growth of the consumables segment over the forecast period.
High prevalence of urinary tract infections is expected to propel growth of the global urinalysis market. For instance, according to the study “Prevalence of Bacterial Urinary Tract Infections and Associated Factors among Patients Attending Hospitals in Bushenyi District, Uganda”, published in February 2019, the prevalence of urinary tract infections was 32.2% among the study.
Major players in the global urinalysis market are focused on adopting partnership strategies to enhance their market share. For instance, in August 2020, Sysmex America, Inc. announced an exclusive agreement with Siemens Healthineers that grants North American rights to distribute and service Siemens Healthineers CLINITEK Novus Automated Urine Analyzer for hospital and reference laboratory use.
Global Urinalysis Market: Competitive Landscape
Major players operating in the global urinalysis market include, e Alere, Bio-Rad Laboratories, Inc., Roche Diagnostics, Mindray, Healthy.io, Arkray, Inc., Sysmex America, Inc., Beckman Coulter, and Siemens Healthcare.
Global Urinalysis Market: Key Developments
Major players in the global urinalysis market are focused on raising funds to expand their product portfolio. For instance, in September 2019, Healthy.io raised US$ 60 million in a Series C funding round led by Corner Ventures.
Major players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in 2018, Beckman Coulter and U.S. Arkray, Inc., announced a partnership and introduced iQ Urinalysis Workcell, an automated urine analyzers in the US.