The global market for urinalysis is expected to rise from USD 980 million in 2016 to USD 1.5 billion by 2024, reflecting a CAGR of 5.4 percent, estimates Transparency Market Research. Increased incidence of diabetes among people leading to end-stage renal disease and kidney failure is expected to boost the market growth.
On the basis of test setting, the market was dominated by the laboratory-based segment and is expected to continue its dominance, owing to the increasing geriatric population, increased frequency of unhealthy lifestyles, and growing incidence of infectiousdiseases worldwide.
On the basis of type of test, the biochemical segment leads the market on account of the widely accepted usage of dipsticks (reagent strips) that detect the presence of constituents in urine. The hospital segment leads the market in terms of end users in the global market. Among the key products in the urinalysis market, consumables occupy the foremost position. High rate of acceptance of single-use, rigid, and sterile disposable products is boosting the growth of this segment.
North America accounts for a nearly 30 percent of the market share attributed to increasing incidence of urinary tract infections in the USA. Asia-Pacific is projected to be a major market furnishing lucrative opportunities, with Japan at the foremost place. An increase in aging population, rapid industrialization, growing number of laboratory diagnosis tests, and high adoption of point-of-care testing have been the major reasons for Japan's rise as a key regional market.