Newark, New Castle, USA, June 12, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for in 2022 to be worth US$ 990.1 million and is expected to increase at a revenue CAGR of 15.0% to reach US$ 4,005.5 million by 2031.
Analysis of the global market for creatinine testing indicates that during the forecast period, revenue share is likely to increase significantly. A creatinine test detects how well the kidneys filter waste from the blood. Creatinine is a chemical molecule created by muscle energy-generating mechanisms.
Key Takeaways:
- The increasing number of patients with kidney-related disorders is driving the market revenue share.
- The new kidney function testing techniques and technological advancements drive market demand.
- The rising demand for point-of-care devices is rapidly increasing market revenue growth.
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Creatinine Testing Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 990.1 million |
| Revenue forecast in 2031 | US$ 4,005.5 million |
| Growth Rate | CAGR of 15.0% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Product Type, Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Creatinine Testing Market:
- In March 2022, Nova Biomedical (Waltham, MA, USA) launched the Nova Max Pro Creatinine/eGFR Meter System in all CE countries. Nova Max Pro is a key new tool for enhancing renal treatment in out-of-hospital settings through kidney function assessment and early detection of kidney sickness.
Competitive Landscape
A list of the prominent players operating in the global market for creatinine testing includes:
- Siemens AG
- Thermo Fisher Scientific, Inc.
- Hoffmann-La Roche AG
- Abcam Plc
- Acon Laboratories, Inc.
Market Drivers and Restraints:
The global creatinine testing market revenue is driven by the increased prevalence of chronic kidney disease (CKD) and diabetes, a rising geriatric population, and broadened R&D initiatives. Furthermore, as exogenous marker elements are being introduced, government financing is increasing, and clinical laboratory operations are expanding, it is contributing to the overall market revenue growth.
However, due to the high prices of automated analyzers and a lack of knowledge regarding creatinine testing procedures, the creatinine testing market revenue growth is expected to be restrained.
Market Segmentation:
Segmentation By Product Type
Based on the product type, the consumables segment dominates the global creatinine testing market with the largest revenue share. This large revenue share is attributed to the increased use of creatinine testing supplies such as urine test strips, etc., due to their rapidity and high sensitivity.
Segmentation By Application
Based on the application, the urinary tract obstruction and renal failure segment is expected to dominate the global creatinine testing market with a sizable revenue share. The significant rise in the segment’s revenue is as early identification is important since most blockages can be addressed, and a delay in treatment can result in irreversible kidney damage.
Segmentation By End User
Based on end-user, the hospitals & clinics segment accounts for the highest revenue share in the global creatinine testing market due to rising disease prevalence, improvement in R&D activities, and availability of cutting-edge technology with the adoption of point of care diagnostics.
Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global creatinine testing market. High healthcare spending, increased prevalence of various renal disorders, a large presence of market players, and the use of modern technology in new product development are some of the reasons propelling the creatinine testing market in North America forward.
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Report Coverage
Growth Plus Reports conducted extensive research on the world market for creatinine testing. We looked at the basic market traits, key investment bodies, regional growth analytics, revenue forecast, top market participants, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL CREATININE TESTING MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
- Consumables
- Instruments
- GLOBAL CREATININE TESTING MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Urinary Tract Obstruction
- Renal Failure
- Kidney Cancer
- Glomerulonephritis
- GLOBAL CREATININE TESTING MARKET - ANALYSIS & FORECAST, BY END USER
- Hospital & Clinics
- Diagnostic Centres
- Research Institutes
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