Thursday, 28 May 2020

Creatinine Test Market share 2019 is Expected to Surge with 5.80% CAGR by 2023, Covering Major Applications, Product types, Key players, Focused Regions, Forecasting

Creatinine Test Market Insights 
Market Research Future has assessed that the growth of the global creatinine test market is expected to register at a CAGR of 5.8% during the assessment period of 2018 to 2023. This moderate yet steady rate of growth is expected to yield a market value of USD 604.55 Mn by the end of 2023. Creatinine tests are a range of tests that are performed to ascertain creatinine levels in the blood. Creatinine itself is a waste product from the breakdown of creatine which is consistently found in the body as a part of normal function. High levels indicate kidney failure. 
The high prevalence of chronic kidney diseases due to poor urban lifestyles is expected to drive the global creatinine test market. Moreover, market players are actively advancing existing technology for kidney function testing. As a result, creatinine tests are increasingly accurate, thus driving the market. The alarming increase in kidney diseases has prompted government bodies to take initiatives in encouraging creatinine tests so as to control the growth of chronic kidney diseases. The rising approval from the FDA for creatinine tests is expected to drive the market toward new opportunities for growth. Meanwhile, the false estimates that creatinine testing sometimes provides is expected to hinder market growth over the forecasted period.
Market Segmentation
The global creatinine test market has been segmented based on test type, product type, application, and end use. By test type, the global creatinine test market has been segmented into urine test, creatinine clearance test, and blood test. The blood test segment is expected to exhibit high growth over the forecast period due to the growing preference for blood tests to measure creatinine levels over other tests. The segment was valued at USD 211.83 Mn in 2016 and is expected to expand at a CAGR of 5.32% over the forecast period. The urine test segment is expected to exhibit significant growth over the forecast period on account of advances in urine test strips which facilitate accurate diagnosis of kidney disorders. 
By product type, the global creatinine test market has been segmented into consumables and instruments. The consumables segment is the largest segment while the instruments segment is expected to be the fastest growing segment over the forecast period. The instruments segment is expected to exhibit a CAGR of 6% over the forecast period. 
By application, the global creatinine test market has been segmented into kidney cancer, renal failure, glomerulonephritis, urinary tract obstruction, and others. The urinary tract obstruction segment is anticipated to expand at a CAGR of 5.10% over the forecast period. 
By end-use, the global creatinine test market has been segmented into research institutes, diagnostic centers, hospitals and clinics, and others. The diagnostic center's segment is expected to exhibit a CAGR of 6.34% over the forecast period.
Regional Analysis
Regions in the global creatinine market have been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA). 
The Americas account for the lion's share of the global creatinine test market. A strong presence of healthcare industry leaders, extended healthcare budget, improving reimbursement scenario and surging prevalence of kidney disorders in the region favors the growth of the market. 
Europe market is expected to register a CAGR of 6.12% over the forecast period. Change in healthcare policies, the presence of sophisticated healthcare infrastructure, and rapid adoption of advanced diagnostic methods spur the growth of the Europe market. APAC is another significant market for creatinine test. APAC and Europe collectively account for 51% share of the global market. The APAC creatinine test market is catalyzed by a large patient pool, brisk adoption of the latest diagnostic methods, and improving healthcare infrastructure in the region.
Key Players
The remarkable players in the global creatinine test market include URIT Medical, Thermo Fisher Scientific, Inc., OPTI Medical Systems, Siemens AG, Abbott, Abcam plc, ARKRAY, Inc., F. Hoffmann-La Roche AG, ACON Laboratories, Inc., Quest Diagnostics, Nova Biomedical, The Danaher Corporation, and others.
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