According to a report by Reports and Data, the global Dipsticks Function Test market size is expected to reach USD 1,440.1 million by 2030 with a revenue CAGR of 6.3% over the forecast period.
The increase in awareness about diagnostic methods in various hospitals, clinics, and other healthcare centers is expected to drive market revenue growth during the forecast period. The rising prevalence of various kidney illnesses has led to the use of Dipsticks Function Testing.
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The demand for Dipsticks Function Tests is being driven by various factors such as the increasing prevalence of renal failure due to unhealthy lifestyles, including sedentary habits, poor eating choices, excessive alcohol intake, diabetes, hypertension, and obesity. Moreover, the growing geriatric population, rising need for Dipsticks Function Tests to address kidney dysfunctions, and the improved healthcare systems and diagnostic centers are also contributing to the market's revenue growth.
Furthermore, the market is expected to receive a boost from government initiatives aimed at treating kidney diseases, such as public-private partnerships that make kidney disease diagnostics more accessible. For instance, the National Kidney Foundation (NKF) and the National Committee for Quality Assurance (NCQA) issued new guidelines in July 2020 for the kidney health evaluation of diabetic patients, recommending regular kidney disease assessments. These guidelines are anticipated to foster a favorable environment for the market's revenue growth.
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However, stringent government regulations governing the use of specific methods in kidney tests may hamper the market revenue growth. Kidney is a very essential organ of a human body and to examine any Chronic Kidney Disease (CKD) in an individual, kidney test function is needed. Hence, the function test has to follow many strict government regulations and also undergo strict regulations for approval. For example, if a patient has a CKD and needs to undergo kidney transplant, the patient as well as the hospitals need to follow proper documentations or bonds under the laws of the government, which might be challenging.
The report highlights some key segments of the market. The dipstick segment is expected to account for the largest market share in the global Dipsticks Function Test market over the forecast period, owing to its capacity to detect ketones, blood, glucose, urobilinogen, nitrite, and proteins, as well as cost-effectiveness.
The diagnostic laboratories segment is expected to register a faster CAGR during the forecast period because testing in these labs is less expensive, can perform a wide range of tests, and provide exact findings. The urine test segment is expected to register steady revenue growth over the forecast period. These tests are inexpensive and frequently used to diagnose bladder infections, diabetes, and kidney stones.
The Dipsticks Function Test market in North America is expected to account for the largest revenue share in the global market over the forecast period. The availability of technologically improved goods, a well-developed healthcare infrastructure, and an increase in the prevalence of severe disorders are factors driving market growth. In addition, rising diabetes and hypertension incidence, excessive alcohol use, increased public awareness, and advantageous reimbursement scenarios, are all contributing to market expansion in this region.
Some of the key companies profiled in the report include Abbott Laboratories, Danaher Corporation, Siemens Healthcare GmbH, Sysmex Corporation, Randox Laboratories Ltd., Baxter International Inc., F. Hoffmann-La Roche Ltd., Arkray, Inc., Acon Laboratories Inc., and Quest Diagnostics Incorporated.
The report segments the global Dipsticks Function Test market based on type, product, end use, and region. The type segment includes dipsticks, reagents, and disposables. The product segment includes urine tests and blood tests. The end-use segment includes hospitals and clinics, academic research laboratories, and diagnostic laboratories. The regional segment includes North America, Europe, Asia-Pacific, Latin America, and the Middle East.
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