The urinalysis systems market is expected to reach $1,286 million by 2019 from $892 million in 2014, at a CAGR of 7.6%. The global urinalysis systems market is categorized on the basis of product, test type, application, end user, and region. The disease diagnostics segment is expected to register the highest growth rate in the urinalysis systems market, by application, during the forecast period. Rising incidence of chronic disease such as diabetes and increasing number of researches conducted to develop new tests using urinalysis for early and better diagnosis of HIV and cancer are driving the growth of this market. The implementation of the Affordable Care Act (ACA) in the U.S. which necessitates hospitals to perform frequent urinalysis tests to keep a check on hospital acquired infections is a major factor driving the urinalysis systems market.
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Furthermore, government support in the form of funding, increasing incidences of diabetes, colossal pool of the elderly population, and technological advancements are other factors driving the growth of this market. The relatively untapped markets of the Asian region and high adoption rate of point-of-care urinalysis devices have opened an array of opportunities for the urinalysis systems market. However, the lower adoption rate of fully automated systems in less developed economies and low awareness regarding kidney diseases, diabetes and urinary tract infections in developing economies are expected to restrain the growth of this market. The Asian region and point-of-care devices are expected to serve as new revenue pockets for the urinalysis systems market in the coming five years.
Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by key industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares.
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Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by key industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares. The above mentioned market research data, current market size, and forecasts of the future trends will help key players and new entrants to make necessary decisions regarding product offerings, geographical focus, change in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
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