Market Analysis
The global microalbumin test market is projected to boom at an astral 6.40% CAGR over the assessment period (2022-2030). Microalbumin test is a kind of urine test which is used for diagnosing kidney diseases. Besides, it is also utilized for evaluating the risk of kidney problems amid patients that are diagnosed with diabetic retinopathy or diabetes. Microalbumin test, creatinine clearance tests and urine protein tests are widely utilized urine tests in diagnostic centers and hospitals. There are many devices and instruments used while conducting the microalbumin tests namely test strips, micro-cuvettes, control kit, reagent kit and urine analyzers.
There are many factors that is driving the growth of the microalbumin test market. Some of these factors as per the Market Research Future (MRFR) report include rising prevalence of renal dysfunction, diabetes and other forms of kidney problems, increasing R&D activities, advancements in technology in the medical device domain, rising geriatric population and demand for diagnostic and treatment for chronic diseases. On the contrary, factors such as test accuracy and soaring diagnostic medical device cost may hamper the growth of the microalbumin test market over the assessment period.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the microalbumin test market on the basis of product, indication and end user.
Based on product, it is segmented into test strips, micro-cuvettes, control kit, reagent kit, analyzer and others.
Based on indication, the microalbumin test market is segmented into high blood pressure, diabetes, kidney disease and others.
Based on end user, it is segmented into research laboratories, diagnostic laboratories, hospitals and others.
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Key Players
Leading players profiled in the microalbumin test market include Randox Laboratories (U.K).), 77 Elektronika (Hungary), Sysmex (Japan), ACON Laboratories (US), OPTI Medical (U.S.), ARKRAY (Japan), URIT Medical (China), Abbott (U.S.), Roche (Switzerland), Nova Biomedical (U.S.), Siemens (Germany), Beckman Coulter (U.S.), and others.
Feb 2019- Leading in-vitro diagnostic company, ERBA recently displayed its most recent invention Laura XL, a fully automated sediment and urine chemistry analyzer at the Dubai International Convention and Exhibition Centre. This device uses AI technology and digital microscopy for auto-recognizing 16 urine sediment elements. Presentations on the Laura XL was also held that highlighted on the various benefits of using this analyzer. The ERBA experts offered first-hand experience on this new device.
Regional Analysis
Based on region, the microalbumin test market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will be at the vanguard over the assessment period owing to increasing prevalence of kidney diseases, accessibility of specialty services and increasing utilization of screening tests. Apart from this, the other factors that are driving the growth of the microalbumin test market in this region include the existence of key market players and rising need for diagnostic devices that are technologically advanced. Europe grabs the second largest share in the market owing to increasing use of point-care-testing devices, extensive R&D activities on medical devices and increasing healthcare expenditure. The healthcare expenditure in Germany was the maximum followed by France and the UK. The microalbumin test market in the APAC region is expected to have a favorable growth owing to accessibility of diagnostic services and rising prevalence of chronic kidney disease and diabetes. China and India are the leading economies here having an increasing occurrence of diabetes that is anticipated to expand in the near future. Also, accessibility of skilled healthcare experts is also driving the growth of the microalbumin test market. On the other hand, the factors that are driving the growth of the microalbumin test market in the Middle East and Africa include developing healthcare system and rising need for the specialty diagnostic services. The microalbumin test market in the Middle East is growing owing to sedentary lifestyle and lack of physical exercise and in Africa the factors that are driving the market growth include demand for diagnosis and treatment procedures for chronic diseases.
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