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. 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.
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. 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.
Reasons to Buy the Report:
The report will enrich both established companies as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them garner a greater market share. Companies purchasing the report can use any one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios of the top players in the urinalysis systems market. The report analyzes the urinalysis systems market by product, test type, application, end user, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the urinalysis systems market
- Competitive Assessment: In-depth assessment of the market strategies, geographical and business segments, and product portfolios of the leading players in the urinalysis systems market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the market for various urinalysis systems products across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the urinalysis systems market
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