The most recent study conducted by Report Ocean, titled “Global Creatinine Measurement 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 Measurement. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Creatinine Measurement Market Size study, By Product (Reagents, Kits), By Type (Jaffe’s kinetic method, Enzymatic method), By Type of Sample (Blood/serum, Urine), By End User (Hospitals, Diagnostic Laboratories), and Regional Forecasts 2022-2028Global Creatinine Measurement Market is valued approximately USD 483.13 million in 2021 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2022-2028.
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Creatinine is an endogenous by-product of muscle metabolism, which synthesizes blood chemical waste product that is produced from the muscle tissues breakdown and passes from the kidneys. The creatinine measurement tests are a complex test that is performed for the study of kidney functioning and to measure the glomerular filtration rate of the kidney. The growing incidence of kidney and other chronic diseases that affect renal function, rising initiatives for drug development, and increasing awareness and adoption of preventive healthcare measures are the primary factors that may surge the market demand across the globe. For instance, , as per the Kidney Care UK, above 3 million people in the UK have chronic kidney disease (CKD) and nearly 40-45,000 early deaths occur every year.
Thereby, the rising prevalence of kidney or renal disease is fueling the demand for creatinine measurement, which, in turn, accelerates market growth. Furthermore, escalating geriatric population worldwide, and favorable government initiatives to encourage renal health further offer various growth prospects to the market development. However, the identification of novel renal dysfunction biomarkers 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, along with the commercialization of advanced testing methods is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Creatinine Measurement 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 increasing spending for the development healthcare sector and availability of well-established healthcare infrastructure.
Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as growing incidences of chronic kidney diseases, as well as growing awareness about preventive healthcare, would create lucrative growth prospects for the Creatinine Measurement market across the Asia-Pacific region.
Major market players included in this report are:
Thermo Fisher Scientific Inc.
F. Hoffmann-la Roche Ltd
Abbott Laboratories Ltd.
Danaher Corporation
Siemens Healthineers AG
Randox Laboratories Ltd.
Pointe Scientific Inc.
Diasys Diagnostic Systems GmbH
Wako Pure Chemical Industries, Ltd.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd
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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 Product:
Reagents
Kits
By Type:
Jaffe’s kinetic method
Enzymatic method
By Type of Sample:
Blood/serum
Urine
By End User:
Hospitals
Diagnostic Laboratories
By Region:
North America
U.S.
Canada
Europe
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UK
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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