Urinary Protein Reagents Market: Pin-Point Analysis for Changing Competitive Dynamics
Global Urinary Protein Reagents Market – Overview
The global urinary protein reagents market is projected to develop at a considerable pace in the coming years of the forecast period of 2019 to 2027. Increasing demand for urinary protein testing for identifying multiple kidney disorders is expected to give a solid impetus to growth of the global market. These urinary protein reagents are experiencing a solid demand for different types of diagnostic procedures and methods.
Global Urinary Protein Reagents Market – Notable Developments
The global urinary protein reagents market has a fragmented competitive landscape because of the presence of several notable brands. The companies in the market are constantly striving to outclass their rivals and thus it has led to an increased competition in the market. Some of the key players in the market include names such as Sentinel Diagnostics, Thermo Fisher Scientific, Merck KGaA, Quantimetrix Corporation, and Abbott Laboratories among others.
Some of the recent developments in the global urinary protein reagents market are given below:
- Recently, Randox Laboratories announced the launch of their new test called Randox Drug Induced Kidney Injury Array (DIKI). This test will allow better monitoring of nephrotoxicity for improved safety in development of drugs.
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Global Urinary Protein Reagents Market – Drivers and Restraints
A number of micro as well as macroeconomic factors are helping to fuel the growth of the global urinary protein reagents market. One of the biggest driving factors for market growth has been the recent surge in the number of kidney and urinary disorders across the globe. Because of rising consumption of alcohol and normal aging, such urinary and kidney disorders are becoming highly prevalent. Naturally, this has helped in driving the growth of the global urinary protein reagents market.
Another important factor for pushing the development of the global urinary protein reagents market is the introduction of novel urinary testing methods. In addition to this, adoption of new and advanced technologies, growing recommendation for regular urine testing, and increasing awareness among the general population are some of the other key factors that are helping to drive the growth of the global urinary protein reagents market.
A recent trend that has been observed in the global market is of the growing demand for laboratory-based diagnostic techniques. This coupled with increasing healthcare budgets are also expected to lend a helping hand for the development of the global market in coming years.
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Global Urinary Protein Reagents Market – Geographical Outlook
From a geographical perspective, the global urinary proteins reagents market has five major regional segments. These regions are Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. Currently, the global urinary protein reagents market has been dominated by the regional segment of North America. The growth of the regional market is fuelled by the growing awareness about the healthcare problems and increasing demand for regular urinary protein test. Europe is the next biggest market for urinary protein reagents in terms of revenue. The growth of Europe market is driven by the growing per capita medical expenditures and increasing spending on the preemptive medical testing and diagnostics.
Asia Pacific on the other hand is projected to be the most promising regional segment of the global urinary protein reagents market. There are multiple factors that are having a positive impact on the overall development of the regional segment. One of the key driving factor has been the increasing awareness campaigns undertaken by the government and medical authorities for kidney testing. In addition to this, growing programs for diagnostic testing and increasing prevalence of kidney disorders are some of the other key reason behind the projected rise of the Asia Pacific urinary protein reagents market.