Kidney Function Tests Market Size

Kidney Function Tests Market Size

Kidney Function Tests Market was valued at around USD 855 million in 2022 and is expected to boost the business growth at 6.2% CAGR over the forecast period.

Major factors driving the market growth includes the rising prevalence of chronic kidney diseases, increased demand for highly precise kidney function test, technological advancements in rapid diagnostic tests, etc. The chronic kidney disease (CKD) is considered as one of the major public health concerns globally. The overall estimated prevalence of CKD is approximately 13.4% worldwide. CKD directly affects & contributes to the global disease burden in terms of morbidity and mortality worldwide.

As per the U.S. Renal Data System 2020 Annual Data Report statistics, the Medicare spending concerning with CKD External link beneficiaries aged 66 and above exceeded USD 70 billion in 2018, accounting for around 23.8% of Medicare spending in this age group. The rising contribution of such conditions that contribute to the overall disease burden is set to prove beneficial for the market. Thus, the rise in the prevalence of CKD conditions and increasing disease burden is set to fuel the kidney function tests market growth in the foreseeable future.

Kidney function tests are quick urine and blood tests that aid in locating and assessing any issues with the kidneys. One of the initial tests that can be performed to determine the health of the kidneys is urine testing, which is more prevalent. However, lack of awareness regarding kidney function tests may inhibit the marker revenue.