by Renal biomarkers help in detecting the presence and progression of kidney disease in individuals at an early stage. The biomarkers indicate kidney injury and damage which helps clinicians in early diagnosis and prognosis of kidney diseases. Renal biomarkers help in detecting kidney injury caused by ischemia, toxins or nephrotoxins.
The global Renal Biomarkers Market is estimated to be valued at US$ 1700.59 Mn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased use in diagnosing kidney diseases has been a major trend propelling the growth of the renal biomarkers market. Renal biomarkers help detect acute kidney injury at an early stage and guide therapeutic decisions. The use of renal biomarkers leads to early diagnosis of kidney diseases and prevents further progression of kidney damage. Detection of renal injury and damage biomarkers especially facilitates early nephrology referral which improves patient management and outcomes. This has led to increased adoption of renal biomarker testing in clinical practice for evaluating kidney function and injury.
SWOT Analysis
Strength: Renal biomarkers can help in early diagnosis of kidney diseases. Biomarkers like NGAL, KIM-1 helps in detecting acute kidney injury at an early stage.
Weakness: Specificity and sensitivity of biomarkers vary. No single renal biomarker is accurate enough for diagnosis. Combination of multiple biomarkers needed for better results.
Opportunity: Growing incidence of chronic kidney diseases and end stage renal failure presents large market opportunity. Rising funding for kidney disease research also supports market growth.
Threats: High cost of biomarker tests limits widespread adoption. Reimbursement policies also impact market growth to some extent.
Key Takeaways
The Global Renal Biomarkers Market Size is expected to witness high growth. The global Renal Biomarkers Market is estimated to be valued at US$ 1700.59 Mn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031.
North America currently dominates the market owing to large patient pool, growing incidence of CKD, and strong reimbursement structure. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period due to rising healthcare spending, growing kidney disease burden, and increasing focus on early diagnosis.
Key players operating in the renal biomarkers market include Abbott, F. Hoffmann-La Roche AG, Beckman Coulter Inc., Siemens Healthcare Private Limited, Thermo Fisher Scientific Inc., Astute Medical, Inc., Randox Laboratories Ltd., and BIO-RAD LABORATORIES, INC. These players are focusing on new product launches, geographical expansion and collaborations to gain market share. For instance, in 2021 Abbott launched ARQ RenalStress, a novel urine test that aids in the differential diagnosis of acute kidney injury.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
