Today: May 23, 2018, 3:00 pm

Renal Biomarker Market to Grow at a CAGR of 7.0% by 2026

Future Market Insights has announced the addition of the “Renal Biomarker Market: Global Industry Analysis and Opportunity Assessment, 2016–2026. ”report to their offering.
Renal Biomarker Market Share
Renal Biomarker Market Share 2017-04-10 09:02:55
Kidney diseases are one of the leading causes of death worldwide. The incidence of chronic kidney diseases is rapidly rising especially in the elderly population due to increase in life expectancy of general population and improvements in medical management services. However, diabetes and hypertension remain the leading cause of renal diseases. Biomarkers are measurable indicators reflecting physiological and pharmacological progression of disease state. Recent advances in molecular biology have resulted in the development of novel biomarkers for the renal function. Extensive R&D by biomarker manufacturers has led to identification of novel renal biomarkers to deliver better diagnostic accuracy and improve patient outcomes.

Market forecast

Revenue from the global renal biomarker market is projected to register a CAGR of 7.0% during the forecast period (2016 – 2026) and reach a market valuation of US$ 1,770.3 Mn by the end of 2026.

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Rising prevalence of renal diseases primary driver boosting market growth

Growth of the global renal biomarker market is mainly driven by rising prevalence of various renal diseases coupled with an ageing population worldwide. Also, there has been an increase in the adult population with chronic kidney diseases, primarily attributed to a rising prevalence of conditions such as diabetes and high blood pressure. Other prominent growth factors include large number of clinical trials in the novel renal biomarker and drug development space and penetration of various cost-effective, reliable, and rapid technologically driven diagnostic protocols in clinical practice. However, use of unreliable imperfect gold standard for renal disease diagnosis and lack of sensitivity and specificity in current renal biomarkers are some of the factors restraining the growth of the market over the forecast period.

Current trends governing the global renal biomarker market include the possible use of renal biomarkers in personalised medicine and drug development and a growing popularity of non-invasive renal biomarkers.

Functional Biomarker type segment expected to remain the dominant segment over the forecast period

The Functional Biomarker segment is anticipated to account for a market value share of 52.3% by the end of 2016 and is expected to retain its dominance throughout the forecast period. The Up-Regulated Proteins segment is estimated to account for 33.8% market share in terms of value by 2016 end.

Enzyme Linked Immunosorbent Assay diagnostic technique segment estimated to hold the highest market share throughout the forecast period

The Enzyme Linked Immunosorbent Assay segment is anticipated to register a CAGR of 8.1% over the forecast period and is expected to register high Y-o-Y growth rates from 2016 to 2026. The Particle-Enhanced Turbidimetric Immunoassay segment is estimated to be the second largest segment in terms of value, holding a market value share of 21.0% by 2016 end.

Diagnostic Labs end user segment expected to witness highest growth in terms of revenue throughout the forecast period

The Diagnostic Labs segment is estimated to account for 34.2% market share of the global renal biomarker market in revenue terms by 2016 end and is expected to register high Y-o-Y growth rates throughout the forecast period. The Outpatient Clinics segment is anticipated to register a CAGR of 7.2% during the forecast period.

North America renal biomarker market expected to register high Y-o-Y growth throughout the forecast period

The North America regional market is estimated to account for 32.2% revenue share of the global renal biomarker market by 2016 end. Western Europe is estimated to hold the second largest market share of 21.1% by 2016 end.

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Leading market players are emphasising on product innovation and strategic acquisitions to increase market share

Beckman Coulter, Inc. (Danaher Corporation), Thermo Fisher Scientific Inc., Abbott Laboratories, BIOPORTO A/S, Astute Medical, Inc., and Randox Laboratories Ltd. are some of the key players operating in the global renal biomarker market. Top market companies are focussing on increasing their presence in high-growth emerging markets through structured investments in R&D and technological innovation.

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Published by
Abhishek Budholiya

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