With A Rise In The Number Of Renal Patients, The Market For Renal Biomarkers Is Expected To Grow At An 8% Annual Rate As Per The Business Research Company's Renal Biomarkers Global Market Report 2022
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LONDON, Dec. 08, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research on the renal biomarkers market, the rise in geriatric and paediatric renal patients is expected to propel the growth of the renal biomarkers market going forward. Geriatric renal patients refer to the elderly patients aged above 70 years with advanced chronic kidney disease (CKD). However, paediatric renal patients refer to the patients who are commonly diagnosed with renal disorder during childhood and young adulthood. Renal biomarkers help to evaluate the severity of renal injury in geriatric and paediatric renal patients.
For instance, in March 2021, according to the data published by the Centers for Disease Control and Prevention, a US-based government administrative agency, nearly 37 million adults in the US have chronic renal disease and it is more prevalent in adults 65 years of age and older (38%). Therefore, the rise in geriatric and paediatric renal patients is driving the growth of the renal biomarkers market.
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The global renal biomarkers market size is expected to grow from $0.97 billion in 2021 to $1.07 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The renal biomarkers market share is expected to grow to $1.45 billion in 2026 at a CAGR of 7.9%.
Technological advancements have emerged as a key trend gaining popularity in the renal biomarkers market. Major players operating in the renal biomarkers sector is focused on developing innovative technologies to sustain their position in the market. For instance, in May 2019, Renalytix, a US-based biotechnology research company received breakthrough device designation for KidneyIntelX from the United States Food and Drug Administration (US FDA). It is a clinical diagnostic tool with artificial intelligence capabilities for locating people who may require dialysis or renal disease progression. KidneyIntelX uses machine learning algorithms to analyze blood-based biomarkers such as sTNFR1, sTNFR2, and KIM1 along with data from electronic health records to diagnose kidney disease risks in patients.
Major players in the renal biomarkers market are Abbott Laboratories, BioPorto Diagnostics A/S, Roche Holding AG, Thermo Fisher Scientific, bioMérieux SA, Randox Laboratories, Siemens Healthineers, Beckman Coulter, Astute Medical Inc, Nexelis, Sphingotec GmbH, Bio-Rad Laboratories, Enzo Biochem Inc., PerkinElmer, and Novartis AG.
The global renal biomarkers market analysis is segmented by biomarker type into functional biomarker, up regulated protein, other biomarker types; by diagnostic technique into enzyme-linked immunosorbent assay, particle-enhanced turbidimetric immunoassay (PETIA), colorimetric assay, chemiluminescent enzyme immunoassay (CLIA), liquid chromatography mass spectrometry (LS-MS); by application into diagnosis and disease progression monitoring, research homecare; by end user into hospitals, diagnostic laboratories, other end users.
North America was the largest region in the renal biomarkers market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the renal biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Renal Biomarkers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide renal biomarkers market forecast size and growth, renal biomarkers market segments, renal biomarkers market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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