The global 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 substances used to detect and monitor kidney diseases. They help in early diagnosis of kidney injury and predicting the risk of developing advanced kidney disease by detecting signs of kidney damage. This helps in timely management and treatment of conditions.
Market key trends:
One of the major trends in the renal biomarkers market is increasing adoption of machine learning applications. Machine learning algorithms can help identify patterns in large, complex biomarker datasets and gain insights into disease mechanisms. They are being used to analyze relationships between multiple biomarkers and clinical outcomes. This helps develop more accurate diagnostic and prognostic models for kidney diseases. For instance, studies have applied machine learning to biomarkers like urine proteomics to develop models that can predict acute kidney injury with more than 90% accuracy. Such advanced analytics is expected to drive better clinical decision making and management of kidney health.
Segment Analysis
The global renal biomarkers market is segmented based on product type, assay type, disease condition and end-user. Based on product type, the market is segmented into serum and urine renal biomarkers. The urine renal biomarkers segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Urine biomarkers offer non-invasive and cost-effective monitoring of kidney function and damage, which is a key factor contributing to its large share.
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.
Regional analysis
North America dominated the global renal biomarkers market in 2022 and is expected to continue its dominance during the forecast period. Higher healthcare expenditure, presence of major market players, and rising prevalence of kidney diseases drive the growth of the regional market.
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 operating in the renal biomarkers market focus on new product launches and enhancements to expand their product portfolios.
Read More: https://www.ukwebwire.com/renal-biomarkers-market-size-share-and-growth-forecast/
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