Global Urinalysis Market Projected to Reach Nearly USD 5 Billion by 2026
The global urinalysis market is projected to grow at a CAGR of 7.2% from USD 3.5 billion in 2021 to nearly USD 4.9 billion by 2026, driven by the increasing burden of UTIs, diabetes, and kidney & liver diseases; rising geriatric population and subsequent increase in age-associated diseases, and growing adoption of POC diagnostic tests.
These are the latest findings of MarketsandMarkets (Northbrook, IL, USA), a global market research company.
Based on product, the consumables segment accounted for the largest share of the urinalysis market in 2020 due to frequent purchase of these products as a result of their recurrent usage. Based on test type, the sediment urinalysis segment recorded the highest growth in 2020 which can be primarily attributed to the increasing adoption of automated devices for sediment analysis. Based on application, the disease screening segment held the largest share of the urinalysis market in 2020 due to increasing incidence of UTIs, diabetes, liver diseases and kidney ailments worldwide. Based on end user, diagnostic laboratories accounted for the largest share of the urinalysis market in 2020 owing to the rapidly growing aging population, rising global incidence of kidney diseases and UTIs, increase in reimbursements for clinical tests performed in hospitals and the launch of advanced urinalysis devices such as integrated devices.
Geographically, North America held the largest share of the global market urinalysis market in 2020 which can be attributed to the growing geriatric population, implementation of favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and availability of technologically-advanced instruments in the region.
