The market is subject to witness a substantial growth due to the presence of large base of the target population and increasing demand for urinalysis because of unmet clinical needs in the under-developed regions across the globe. Factors responsible for robust market growth of urinalysis industry include introduction of highly advanced diagnostic tools, increasing unmet clinical needs, and rising demand for cost-effective solutions. Urinalysis plays a vital role as a diagnostic tool for the analysis and management of target diseases such as urinary tract infection (UTI) disorders, kidney diseases, and diabetes. These factors are expected to drive market demand for urinalysis in the upcoming years. Globally, the urinalysis market is predicted to grow at CAGR of 7.5% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
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Growing prevalence of the target diseases such as urinary tract infection (UTI) disorders, kidney diseases, and diabetes, is considered as one of the prominent factor responsible for market growth, in the recent years. Moreover, the changing lifestyle and varying food are expected to fuel demand for urinalysis across the globe in the upcoming years. However, complete absence of adequate healthcare infrastructure in the underdeveloped economies worldwide is anticipated to limit market progress to a certain extent.
Additionally, lack of availability of the latest diagnostic tools in the developing economies across the globe is significantly hampering market growth. Yet, development of advanced and cost-effective technique to carry out fast and highly precise diagnosis along with easy to use solutions for catering to the unmet clinical needs in the developing as well as underdeveloped economies are estimated to drive market growth in the upcoming years.
The urinalysis market is broadly divided into two major typed based on product types such as instruments urinalysis and consumables. The instruments urinalysis industry segment is further categorized into automated bio-chemical urine analyzer, semi-automated bio-chemical urine analyzer, urine sediment analyzer, and microscopic urine analyzer. The recent technological advancements in the instrument market segment coupled with development of novel products such as urine sediment analyzer, and microscopic urine analyzer are estimated to drive market growth over the forecast period.
Additionally, introduction of fully automated urine strip readers and automated urine sediment analyzers like Uri-Sed mini and Uri-Sed two with the help of ElektronikaKft is considered as one of the prominent factors driving the growth of instruments market segments over the forecast period. Increasing adoption of wireless technology for communication purposes coupled with development of miniaturized PoC urinalysis instruments are further expected to advance market growth in the upcoming years.
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