The growth of the global albumin & creatinine tests market is driven by the growing prevalence of kidney disorders/diseases, the rising adoption of POC diagnostics, and the increasing prevalence of chronic conditions.
The global albumin & creatinine tests market size is valued at an estimated USD 987 million in 2020 and is projected to reach USD 2,103 million by 2025, at a CAGR of 16.3% during the forecast period.
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The albumin & creatinine tests market is highly fragmented and is dominated by various players offering albumin & creatinine tests products. The major players in this market are Thermo Fisher Scientific, Inc. (US), Roche Diagnostics (Switzerland), PromoCell GmbH (Germany), Abbott Laboratories (US), Siemens Healthineers (Germany), Danaher Corporation (US), Sysmex Corporation (Japan), Ortho Clinical Diagnostics (US), Randox Laboratories (UK), FUJIFILM Wako Pure Chemical Corporation (Japan), Abbexa Ltd. (UK), ACON Laboratories, Inc. (US), Arbor Assays Inc. (US), ARKRAY Global Business Inc. (Japan), Aviva Systems Biology (US), Axxora, LLC (UK), BioAssay Systems (US), Nova Biomedical (US), Quantimetrix Corporation (US), RayBiotech Inc. (US), Sekisui Diagnostics PEI Inc. (US), Teco Diagnostics (US), Tulip Diagnostics (India), ulti med Products GmbH (Germany), and URIT Medical Electronic Co., Ltd. (China).
Abbott Laboratories (US) is a leading player across all the regions in albumin and creatinine tests market. The company is present in over 160 countries across South America, Europe, Africa, and Asia. The company adopted acquisitions as a key strategy to strengthen its position and expand its product portfolio. For instance, in 2017, the company acquired Alere Inc. to enter the overall urine analysis market. The company provides a range of testing kits and measurement kits. With this acquisition, Abbott is set to become an important player in the overall urine analysis market and thereby in the albumin and creatinine tests market.
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Danaher Corporation (US) is one of the leading players operating in the albumin and creatinine tests maket. The company has a strong product portfolio and a global presence in the diagnostics market. Danaher has adopted organic and inorganic growth strategies, such as product launches and partnerships, to strengthen its position in this market. For instance, in 2018, Danaher launched iQ Urinanalysis Workcell and has entered in to a partnership with ARKRAY Inc. to deliver scalable integrated solutions for urinalysis in the US.