by The Renal Biomarkers Market is estimated to be valued at US$ 1,476.2 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Renal biomarkers are biological molecules found in urine, blood, and other bodily fluids that can provide information about kidney function, damage, or disease. Rising prevalence of chronic kidney disease and growing awareness about early diagnosis and treatment are primary factors driving growth of this market. Renal biomarkers help doctors monitor chronic kidney disease progression and determine patient risk. They also aid in drug development by measuring treatment effectiveness. Common renal biomarkers include serum creatinine, cystatin C, neutrophil gelatinase-associated lipocalin, and kidney injury molecule-1.
Market Dynamics:
The key drivers fueling growth of the renal biomarkers market include growing geriatric population prone to renal disorders and rising cases of diabetes and hypertension globally. According to data by the International Diabetes Federation, nearly 537 million people aged 20-79 years suffered from diabetes in 2021 worldwide. Diabetes and hypertension are leading risk factors for chronic kidney disease. Furthermore, growing awareness about importance of early disease detection and diagnosis is prompting healthcare providers to increasingly adopt renal biomarkers to monitor kidney function in at-risk patients. Technological advancements have enabled development of high-sensitivity assays for renal biomarkers, which can detect even small changes in kidney health. This is anticipated to boost their adoption.
Segment Analysis
Renal Biomarkers Market can be segmented on the basis of product type into serum creatinine, serum cystatin C, neutrophil gelatinase-associated lipocalin (NGAL), kidney injury molecule-1 (KIM-1), interleukin 18 (IL-18), liver-type fatty acid binding protein (L-FABP), and others. The serum creatinine segment holds largest market share owing to its wide adoption and ability to detect damage to kidneys earlier.
PEST Analysis
Political: Regulations pertaining to use of biomarkers for disease diagnosis are being strengthened globally which is driving the market growth.
Economic: Rising healthcare expenditure along with increasing burden of kidney diseases is fueling the demand for biomarkers to facilitate early diagnosis and treatment monitoring.
Social: Growing awareness about kidney diseases and availability of diagnostic solutions is positively impacting the market.
Technological: Continuous development of novel and sensitive biomarkers have enabled accurate assessment of renal function and early detection of kidney injuries.
Key Takeaways
The global Renal Biomarkers Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing prevalence of chronic kidney diseases and growing adoption of precision medicine.
Regional analysis: North America holds the largest share in the global renal biomarkers market owing to increasing incidence of chronic kidney disease in the region. Asia Pacific is expected to exhibit fastest growth during the forecast period driven by rising healthcare expenditure, strong focus on development of diagnostic infrastructure and growing elderly population in the region.
Key players: Major players operating in the Global Renal Biomarkers Market include Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Bioporto Diagnostics A/S, Astute Medical, Inc., Randox Laboratories, Sphingo Tec GmbH, Siemens Healthineers AG, Eli Lilly and Company, and Novartis AG. Key players are focusing on new product launches, acquisitions and collaborations to expand their service offerings and geographic presence
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
