Albumin & Creatinine Tests Market worth $2,103 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 14, 2021 /PRNewswire/ -- According to the new market research report "Albumin & Creatinine Tests Market by Product (Analyzers, Cartridges (PoC, Tabletop), Dipsticks, Kits, Reagents), Type (Blood & Urine Creatinine, Urine Albumin, Glycated Albumin), Enduser (Hospital, Diagnostic & Research Labs) - Global Forecast to 2025", published by MarketsandMarkets™, the ACR Test Market is projected to reach USD 2,103 million by 2025 from USD 987 million in 2020, at a CAGR of 16.3%.
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The growth of the global albumin & creatinine tests market is driven by factors such as the growing prevalence of kidney disorders, the rising adoption of POC diagnostics, and the increasing prevalence of chronic conditions.
The dipsticks & kits products segment accounted for the largest share of the ACR Tests Market, by product segment, in 2019
Based on product, the albumin and creatinine tests market is segmented into dipsticks & kits, analyzers, cartridges, and reagents & other consumables. In 2019, the dipsticks & kits segment accounted for the largest share in this market. The frequent purchase of these products compared to instruments like analyzers and cartridges and the increasing use of kit-based rapid techniques for albumin & creatinine tests drive market growth.
Urine Tests segment to register the highest growth rate during the forecast period
Based on type, the albumin & creatinine tests market is segmented into urine tests and blood & serum creatinine tests. In 2019, urine tests accounted for the largest share in this market. Factors such as the rapid growth in the diagnostics segment and the increasing demand for rapid and easy-to-use urine tests drive the growth of this segment.
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North America is the largest regional market for albumin & creatinine tests market
The global ACR Test Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America accounted for the largest share in the global market. The large share of this regional segment can primarily be attributed to the growth in demand for rapid urine tests, increasing prevalence of chronic conditions leading to various kidney diseases, rising government initiatives, and growing geriatric population.
The major players operating in this ACR Tests Market are Thermo Fisher Scientific, Inc. (US), Roche Diagnostics (Switzerland), PromoCell GmbH (Germany), Abbott Laboratories (US), Siemens Healthineers (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Randox Laboratories (UK), FUJIFILM Wako Pure Chemical Corporation (Japan), Abbexa Ltd. (UK), ACON Laboratories, Inc. (US), Arbor Assays Inc. (US), ARKRAY Global Business Inc. (Japan), Aviva Systems Biology (US), Axxora, LLC (UK), BioAssay Systems (US), Nova Biomedical (US), Quantimetrix Corporation (US), RayBiotech Inc. (US), Sekisui Diagnostics PEI Inc. (US), Teco Diagnostics (US), Tulip Diagnostics (India), ulti med Products GmbH (Germany), and URIT Medical Electronic Co., Ltd. (China).
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