Urinalysis Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

 

Urinalysis Market
Urinalysis Market

The global urinalysis market is anticipated to experience slow growth due to the high cost of advanced analyzers. For instance, the AUTION MAX AX-4060 urine analyzer from ARKRAY, Inc. costs about US$ 72,000, which is nearly ten times more than standard urine analyzers. The high startup costs for a modern laboratory are also anticipated to restrain the growth of the global urinalysis market.

The high prevalence of diabetes is anticipated to fuel worldwide Urinalysis Market. For instance, according to a study published in the journal Diabetes Research and Clinical Practice in September 2019 titled "Global and Regional Diabetes Prevalence Estimates for 2019 and Projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition," 463 million people are predicted to have diabetes worldwide in 2019, and that number is projected to rise to 578 million by 2030 and 700 million by 2045. Additionally, the introduction of urinalysis apps for smartphones is anticipated to support market expansion. For instance, the smartphone camera-based solutions provider Healthy.io announced a partnership with Walgreens Boots Alliance, Inc. in July 2019.

The primary focus of the major players in the global urinalysis market is on providing solutions to address data privacy, security, and compliance issues. As an illustration, in August 2020 Sysmex America, Inc. unveiled Caresphere Workflow Solution, a new clinical software programme intended to address data privacy, security, and compliance issues.

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