Published: May, 2017
Transparency Market Research, in its more recent publication, revealed that the competitive landscape in the global urinalysis market is and will likely to remain fragmented. The top five companies accounting for a share of 41.7% in 2016 were BAYER Healthcare, Beckman Coulter, Inc., F. Hoffman-La Roche Ltd., Siemens Healthcare, and Sysmex Corporation.
As per the report, mergers and acquisitions have been the more common and successful growth strategies adopted by players to strengthen their position in the global urinalysis market. For instance, F. Hoffmann-La Roche Ltd.’s acquisition of GeneWEAVE BioSciences, Inc. in 2015 helped strengthen their service profile and help generate a wider client and patient pool. The global urinalysis market is expected to expand at a positive and steady CAGR of 5.4% within a forecast period from 2016 to 2024. The market is expected to reach US$1.5 bn by the end of 2024, after being calculated at US$929.9 mn at the end of 2015.
PoC Testing Advantages Made Clearer as Urinalysis Demand Ramped Up
“One of the leading factors driving the global urinalysis market so far, has to be the increasing interest in the use of point-of-care testing technologies, or POCT technologies. Their accurate implementation has been instrumental in significantly improving patient care levels and operations efficiency of a healthcare organizations. The growing awareness of the advantages that POCT technologies bring to the table are therefore putting the overall global urinalysis market at a very profitable avenue for the coming years,” states a TMR analyst.
Other factors promoting the growth of the global urinalysis market over the foreseeable future include the increasing geriatric population across the world. The elderly are commonly in a high level of need for diagnostic methods and treatments for various ailments. Their growth in population – as verified by bodies such as the WHO – has made it clear that the demand for procedures such as urinalysis will be very high in the years to come.
Higher Demand for Lab-based Urinalysis Procedures than Others
The global urinalysis market can be segmented on the basis of test setting, into laboratory-based and POCT. While POCT equipment are expected to be in high demand over the coming years, the current leader in the global urinalysis market is the set of laboratory-based test setting. Lab-based test setting held the greater share in the global urinalysis market’s overall value in 2015. On the basis of products, the global urinalysis market was dominated by consumables, which took up a whopping 71.0% of the market value in 2015, thanks to the massive surge in demand for plastic consumables. The products segment of instruments is expected to witness a higher rate of growth than consumables over the coming years.
“However, factors such as the high cost of use of advanced analyzers is currently hindering the growth of the global urinalysis market, especially in emerging economies. These regions do not possess the financial or infrastructural qualifications to successfully support the use of advanced urinalysis technologies. The shortage of skilled laboratory staff that can operate these equipment is also in short supply, thereby reducing the overall scope of growth of the global urinalysis market for the coming years,” adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, “Urinalysis Market (Product Type - Instruments (Chemistry Analyzer, Microscopy Analyzer/Sediment Analyzer, Integrated Chemistry and Sediment Analyzer, and Portable Analyzers) and Consumables (Plastic Consumables, Reagent Strips, and Chemical Agents); Test Type - Macroscopic, Biochemical, and Sediment/Microscopic; Test Setting - Point-of-care and Laboratory-based; End User - Hospitals, Independent Laboratories, and Physician Practices) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Key segments of the Global Urinalysis Market
- Global Urinalysis Market, by Product Type
- Chemistry Analyzer
- Microscopy Analyzers/Sediment Analyzer
- Integrated Chemistry and Sediment Analyzer
- Portable Analyzers
- Plastic Consumables
- Reagent Strips (dipstrips)
- Other Chemical Agents
- Global Urinalysis Market, by Test Type
- Global Urinalysis Market, by Test Setting
- Global Urinalysis Market, by End-user
- Independent Laboratories
- Physician Practices
- Global Urinalysis Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World
- Middle East
- South Africa
- Rest of ROW
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