The most recent study conducted by Report Ocean, titled “Global Creatinine Assay Kits Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Creatinine Assay Kits. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Creatinine Assay Kits Market Size study, By Type (Jaffe’s Kinetic Test Kits, Creatinine-PAP Test Kits, ELISA Test Kits), By Type of Sample (Blood/Serum, Urine, Other Samples s), and Regional Forecasts 2022-2028Global Creatinine Assay Kits Market is valued approximately USD 236.52 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.3% over the forecast period 2022-2028.
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Creatinine assay kits are the type of assay kit, used for assessing creatinine in biological samples without the requirement for any pre-treatment. These kits help in measuring the level of creatinine in the urine, plasma/serum, and other biological fluids to examine the condition of the kidney. The rising awareness and adoption of preventive healthcare, the growing prevalence of kidney or renal disorders, coupled with the incidences of other chronic diseases that affect renal function are the primary factors that are stimulating the market demand across the globe. As per the National Kidney Foundation, there were 10% of the population around the world is suffering from chronic kidney disease (CKD), and millions of people die every year.
Moreover, the availability of favorable government initiatives to promote renal health, rising developments in biomedical research, as well as increasing geriatric population worldwide is further accelerating the market growth in the approaching period. For instance, as per the United Nations, The Department of Economic and Social Affair, in 2019, there were nearly 703 million persons aged 65 years or above globally. Also, the number of older persons is likely to get double to 1.5 billion by 2050. Therefore, the increasing aged population is propelling the demand for the creatinine assay kits as this age group is more likely to suffer from various chronic illnesses and renal disease, thus, in turn, fueling the market growth. However, limited usage of creatinine assay kits in IVD and frequently changing regulatory policies impede the growth of the market over the forecast period of 2022-2028. Also, high growth potential in emerging economies and increasing investments for R&D activities are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Creatinine Assay Kits market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising awareness towards preventive healthcare, increasing R&D activities, and presence of the leading market players. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the escalating geriatric population, growing prevalence of chronic kidney disease (CKD), as well as the development of healthcare infrastructure, would create lucrative growth prospects for the Creatinine Assay Kits market across the Asia-Pacific region.
Major market players included in this report are:
Thermo Fisher Scientific Inc.
Merck Group
Abbott Laboratories Inc.
Abcam PLC
Quidel Corporation
Enzo Life Sciences Inc.
Cayman Chemical Company
Cell Biolabs Inc.
Tulip Diagnostics Pvt. Ltd.
Arbor Assays Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Jaffe’s Kinetic Test Kits
Creatinine-PAP Test Kits
ELISA Test Kits
By Type of Sample
Blood/Serum
Urine
Other Samples
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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