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Urinalysis Market by End-user, Product and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 148
  • SKU: IRTNTR43761
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The urinalysis Market is projected to grow by USD 920.73 million with a CAGR of 8.04% during the forecast period 2021 to 2026.

This urinalysis market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers urinalysis market segmentation by end-user (hospital and clinics, diagnostic laboratories, and home care settings), product (consumables and instruments), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The urinalysis market report also offers information on several market vendors, including 77 Elektronika Kft, Abbott Laboratories, AccuQuik Test Kits, ACON Laboratories Inc., ARKRAY Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., BIOGENIX Inc. Pvt. Ltd., bioMerieux SA, Cardinal Health Inc, Danaher Corp., Dirui Industrial Co. Ltd., F. Hoffmann La Roche Ltd., Medline Industries LP, Quidel Corp., Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Sysmex Corp, Thermo Fisher Scientific Inc., and URIT Medical Electronic Co. Ltd. among others.

What will the Urinalysis Market Size be During the Forecast Period?

Urinalysis Market Size

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Urinalysis Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges. During the COVID-19 pandemic, the demand for the urinalysis market has been impacted a lot. A holistic analysis of drivers will help exact demands and refine marketing strategies to gain a competitive advantage.

Key Urinalysis Market Driver

Favorable reimbursement for urinary catheters is one of the major drivers impacting the urinalysis market growth. Urinalysis is one of the most useful indicators of health and disease, thus helping in the detection of renal or metabolic disorders. It aids in diagnosing and following the course of treatment in kidney and urinary system diseases and in detecting disorders in other parts of the body, such as metabolic or endocrinological abnormalities in which the kidneys do not function normally. Urinalysis tests are covered by Medicare Payments Urinalysis procedures (81002 or 81003) when billed in conjunction with any E and M service. It will not be separately reimbursed when modifier 25 is appended to the E and M service or modifier 59 is appended to the urinalysis procedure, on the same day, for the same member, by the same provider, on the same or different claims. The following CPT (current procedural terminology) codes and descriptions for urinalysis for reimbursements increase the rate of its adoption.

Key Urinalysis Market Trend

The growing need for companion diagnostics is one of the major trends influencing the urinalysis market growth. A companion diagnostic is mostly an in-vitro POC medical device, which provides information that is necessary for the safe and effective use of a similar drug or biological product. Generally, it is administered based on the analysis provided by the diagnostic machine. Companion diagnostics becomes necessary to understand the need of the patient and provide personalized medicines. This practice has been trending recently and thus becomes a good opportunity to penetrate POC products into new markets. The POC products help in personalized medication and thereby have a positive impact on the market as they would assist in prescribing decisions. In Europe, POC devices are regulated under the 1998 European Directive 98/79/EC on in-vitro diagnostic medical devices. The primary advantages of POC urinalysis devices are rapid turnaround time for test results and increased mobility, which significantly improves in quality of care and clinical outcome. This can result in improved disease management, treatment adherence, and patient satisfaction.

Key Urinalysis Market Challenge

The high costs of automated urine analyzers are one of the major challenges impeding the urinalysis market growth. Automated urine analyzers are used in hospital or clinical settings to perform urine tests automatically. The average cost of urine analyzers ranges from $598 to $900 per unit. The average cost of advanced automated urine analyzers used in hospital facilities ranges from $4,500 to $10,500. The cost varies depending on the type, brand, and technology used. In addition, the cost associated with consumables such as reagents used in urine analyzers is also increasing the overall cost of the product. The average cost of 100 reagent strips used for urine analyzers ranges from $1,000 to $1,500 per bottle. In addition, urine analyzers require regular maintenance and service to ensure their operating performance. Hence, the high cost, coupled with the additional cost of consumables and maintenance, is likely to impede the adoption of urine analyzers in small and mid-sized clinics and diagnostic laboratories. This, in turn, is expected to hamper the growth of the global urinalysis market to a certain extent during the forecast period.

This urinalysis market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global urinalysis market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the urinalysis market during the forecast period.

Who are the Major Urinalysis Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • 77 Elektronika Kft
  • Abbott Laboratories
  • AccuQuik Test Kits
  • ACON Laboratories Inc.
  • ARKRAY Inc.
  • Becton Dickinson and Co.
  • Bio Rad Laboratories Inc.
  • BIOGENIX Inc. Pvt. Ltd.
  • bioMerieux SA
  • Cardinal Health Inc
  • Danaher Corp.
  • Dirui Industrial Co. Ltd.
  • F. Hoffmann La Roche Ltd.
  • Medline Industries LP
  • Quidel Corp.
  • Shenzhen Mindray BioMedical Electronics Co. Ltd
  • Siemens AG
  • Sysmex Corp
  • Thermo Fisher Scientific Inc.
  • URIT Medical Electronic Co. Ltd.

 

This statistical study of the urinalysis market encompasses successful business strategies deployed by the key vendors. The urinalysis market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Urinalysis Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the urinalysis market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Urinalysis Market?

Urinalysis Market Share by Geography

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38% of the market’s growth will originate from North America during the forecast period. The US is a key market for urinalysis market in North America. Market growth in this region will be faster than the growth of the market in other regions.

Factors such as the increase in the automation of laboratories and the high preference for point-of-care (POC) diagnostic tests will facilitate the urinalysis market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Lockdowns enacted using numerous North American international locations to govern the unfold of COVID-19 brought on people to delay present process fitness checkups, for that reason affecting the number of exams accomplished and income of contraptions, consumables, and reagents. However, a resurgence in testing numbers is visible as international locations gradually ease the regulations imposed on the motion. In line with National Kidney Foundation, human beings hospitalized with COVID-19 are at an extensive risk of acute kidney injury (AKI), main to serious contamination, dialysis, and dying. 

What are the Revenue-generating End-user Segments in the Urinalysis Market?

Urinalysis Market Share

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The urinalysis market share growth in the hospital and clinic segment will be significant during the forecast period. Hospitals and clinics account for the larger share of this market. The surgeries for urinary incontinence and urinary retention, along with kidney and liver procedures, are more common in hospitals.

This report provides an accurate prediction of the contribution of all the segments to the growth of the urinalysis market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Urinalysis Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.04%

Market growth 2022-2026

$ 920.73 million

Market structure

Fragmented

YoY growth (%)

6.24

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 38%

Key consumer countries

US, Germany, UK, China, and Japan

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

77 Elektronika Kft, Abbott Laboratories, AccuQuik Test Kits, ACON Laboratories Inc., ARKRAY Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., BIOGENIX Inc. Pvt. Ltd., bioMerieux SA, Cardinal Health Inc, Danaher Corp., Dirui Industrial Co. Ltd., F. Hoffmann La Roche Ltd., Medline Industries LP, Quidel Corp., Shenzhen Mindray BioMedical Electronics Co. Ltd, Siemens AG, Sysmex Corp, Thermo Fisher Scientific Inc., and URIT Medical Electronic Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics,and Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Urinalysis Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive urinalysis market growth during the next five years
  • Precise estimation of the urinalysis market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the urinalysis industry across North America, Europe, Asia, and the Rest of the World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of urinalysis market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 27: Chart on Comparison by End-user
      • Exhibit 28: Data Table on Comparison by End-user
    • 5.3 Hospital and clinics - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Hospital and clinics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Hospital and clinics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Hospital and clinics - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Hospital and clinics - Year-over-year growth 2021-2026 (%)
    • 5.4 Diagnostic laboratories - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Diagnostic laboratories - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Diagnostic laboratories - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Diagnostic laboratories - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Diagnostic laboratories - Year-over-year growth 2021-2026 (%)
    • 5.5 Home care settings - Market size and forecast 2021-2026
      • Exhibit 37: Chart on Home care settings - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Data Table on Home care settings - Market size and forecast 2021-2026 ($ million)
      • Exhibit 39: Chart on Home care settings - Year-over-year growth 2021-2026 (%)
      • Exhibit 40: Data Table on Home care settings - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 41: Market opportunity by End-user ($ million)

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 42: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 43: Data Table on Product - Market share 2021-2026 (%)
    • 6.2 Comparison by Product
      • Exhibit 44: Chart on Comparison by Product
      • Exhibit 45: Data Table on Comparison by Product
    • 6.3 Consumables - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Consumables - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Consumables - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Consumables - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Consumables - Year-over-year growth 2021-2026 (%)
    • 6.4 Instruments - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Instruments - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Instruments - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Instruments - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Instruments - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 54: Market opportunity by Product ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 56: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 57: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 58: Chart on Geographic comparison
      • Exhibit 59: Data Table on Geographic comparison
    • 8.3 North America - Market size and forecast 2021-2026
      • Exhibit 60: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 61: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 62: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 63: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.4 Europe - Market size and forecast 2021-2026
      • Exhibit 64: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 65: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 66: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 67: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.5 Asia - Market size and forecast 2021-2026
      • Exhibit 68: Chart on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on Asia - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on Asia - Year-over-year growth 2021-2026 (%)
    • 8.6 Rest of World (ROW) - Market size and forecast 2021-2026
      • Exhibit 72: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • 8.7 US - Market size and forecast 2021-2026
      • Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.8 China - Market size and forecast 2021-2026
      • Exhibit 80: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.9 Germany - Market size and forecast 2021-2026
      • Exhibit 84: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.10 UK - Market size and forecast 2021-2026
      • Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.11 Japan - Market size and forecast 2021-2026
      • Exhibit 92: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.12 Market opportunity by geography
      • Exhibit 96: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 97: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 98: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 99: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 100: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 101: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 102: Matrix on vendor position and classification
            • 11.3 Abbott Laboratories
              • Exhibit 103: Abbott Laboratories - Overview
              • Exhibit 104: Abbott Laboratories - Business segments
              • Exhibit 105: Abbott Laboratories - Key news
              • Exhibit 106: Abbott Laboratories - Key offerings
              • Exhibit 107: Abbott Laboratories - Segment focus
            • 11.4 Becton Dickinson and Co.
              • Exhibit 108: Becton Dickinson and Co. - Overview
              • Exhibit 109: Becton Dickinson and Co. - Business segments
              • Exhibit 110: Becton Dickinson and Co. - Key news
              • Exhibit 111: Becton Dickinson and Co. - Key offerings
              • Exhibit 112: Becton Dickinson and Co. - Segment focus
            • 11.5 Bio Rad Laboratories Inc.
              • Exhibit 113: Bio Rad Laboratories Inc. - Overview
              • Exhibit 114: Bio Rad Laboratories Inc. - Business segments
              • Exhibit 115: Bio Rad Laboratories Inc. - Key news
              • Exhibit 116: Bio Rad Laboratories Inc. - Key offerings
              • Exhibit 117: Bio Rad Laboratories Inc. - Segment focus
            • 11.6 bioMerieux SA
              • Exhibit 118: bioMerieux SA - Overview
              • Exhibit 119: bioMerieux SA - Product / Service
              • Exhibit 120: bioMerieux SA - Key news
              • Exhibit 121: bioMerieux SA - Key offerings
            • 11.7 Cardinal Health Inc
              • Exhibit 122: Cardinal Health Inc - Overview
              • Exhibit 123: Cardinal Health Inc - Business segments
              • Exhibit 124: Cardinal Health Inc - Key news
              • Exhibit 125: Cardinal Health Inc - Key offerings
              • Exhibit 126: Cardinal Health Inc - Segment focus
            • 11.8 Danaher Corp.
              • Exhibit 127: Danaher Corp. - Overview
              • Exhibit 128: Danaher Corp. - Business segments
              • Exhibit 129: Danaher Corp. - Key news
              • Exhibit 130: Danaher Corp. - Key offerings
              • Exhibit 131: Danaher Corp. - Segment focus
            • 11.9 F. Hoffmann La Roche Ltd.
              • Exhibit 132: F. Hoffmann La Roche Ltd. - Overview
              • Exhibit 133: F. Hoffmann La Roche Ltd. - Business segments
              • Exhibit 134: F. Hoffmann La Roche Ltd. - Key news
              • Exhibit 135: F. Hoffmann La Roche Ltd. - Key offerings
              • Exhibit 136: F. Hoffmann La Roche Ltd. - Segment focus
            • 11.10 Quidel Corp.
              • Exhibit 137: Quidel Corp. - Overview
              • Exhibit 138: Quidel Corp. - Product / Service
              • Exhibit 139: Quidel Corp. - Key offerings
            • 11.11 Siemens AG
              • Exhibit 140: Siemens AG - Overview
              • Exhibit 141: Siemens AG - Business segments
              • Exhibit 142: Siemens AG - Key news
              • Exhibit 143: Siemens AG - Key offerings
              • Exhibit 144: Siemens AG - Segment focus
            • 11.12 Thermo Fisher Scientific Inc.
              • Exhibit 145: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 146: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 147: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 148: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 149: Thermo Fisher Scientific Inc. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 150: Inclusions checklist
                • Exhibit 151: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 152: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 153: Research methodology
                • Exhibit 154: Validation techniques employed for market sizing
                • Exhibit 155: Information sources
              • 12.5 List of abbreviations
                • Exhibit 156: List of abbreviations
              • growth due to the increasing number of tests for infectious and chronic diseases: The incidence of infectious and chronic diseases has increased over the past decade. The outbreak of the COVID-19 pandemic in 2020 has increased the demand for laboratory testing for COVID-19 across the world. An increase in demand for laboratory testing for infectious diseases, such as COVID-19 and chronic diseases, will be a driver for the life sciences tools and services industry in the future. The growth of the tools and services industry will continue to be strong in emerging markets such as China and India. Developed economies such as Japan and the EU will exhibit moderate growth rates.
                • product development to decrease prices: As the pricing pressure increases, life sciences tools manufacturers will have to rethink product development processes. A value first product design philosophy can help control costs and deliver what customers value the most.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  TechnavioINFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases
                  Technavio

                  TechnavioDATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts
                  Technavio

                  TechnavioREPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape
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                  Urinalysis market growth will increase by $731.57 million during 2019-2024.
                  The urinalysis market is expected to grow at a CAGR of 7.84% during 2019-2024.
                  Technavio has segmented the urinalysis market by product (Consumables and Instruments) and geographic (North America, Europe, Asia, and ROW).
                  Abbott Laboratories, Becton, Dickinson and Co., bioMérieux SA, Bio-Rad Laboratories Inc., Cardinal Health Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Quidel Corp., Siemens Healthineers AG, Thermo Fisher Scientific Inc. are a few of the key vendors in the urinalysis market.
                  North America will register the highest growth rate of 37.58% among the other regions. Therefore, the urinalysis market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                  The key factors driving the urinalysis market growth are:
                  • Rising prevalence of renal diseases and UTIs
                  • Integration of connectivity solutions for home care settings
                  The urinalysis market vendors should focus on grabbing business opportunities from the consumables segment as it accounted for the largest market share in the base year.
                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?
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