The global creatinine meter market is estimated to project growth at a robust CAGR of around 8% to 9% from 2022 to 2032. Among the end-use verticals, point-of-care use is expected to emerge as a highly remunerative segment, accounting for sales of a total of USD 1,250 Mn by the end of 2032. The demand for creatinine meters across the point-of-care segment is anticipated to reach USD 650 Mn by 2022, accelerating at a CAGR of 7% to 8% between 2022 and 2032.
| Report Attribute | Details |
|---|---|
| Creatinine Meter Market Projected Growth Rate (2022 to 2032) | 8% to 9% CAGR |
| Expected Value Creatinine Meter in Point of Care Segment (2022) | USD 650 Million |
| Anticipated Value Creatinine Meter in Point of Care Segment (2032) | USD 1,250 Million |
| Projected Growth Rate of Point of Care Segment (2022 to 2032) | 7% to 8% CAGR |
Creatinine meters are medical devices primarily used to diagnose and treat chronic kidney diseases such as glomerulonephritis, kidney stones, polycystic kidney disease, and chronic intrinsic kidney failures, among others. They measure the blood creatinine levels of patients suffering from kidney and renal disorders.
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Commonly, it takes several hours to test creatinine at clinical labs. In addition, the risk of patients with specific conditions is high in clinical testing due to imaging agents like iodine and barium, which are generally used in radiological procedures.
On the other hand, creatinine meters allow healthcare professionals to get precise quantitative results for creatinine tests within minutes with ease of use. On account of this, a swift inclination towards adopting creatinine meters, particularly handheld devices, is being witnessed across the healthcare sector worldwide for the testing of kidney and renal disorders, bolstering the demand in the global market.
Although there are several advantages associated with using creatinine meters, the high cost of this equipment, specifically handheld creatinine meters, and the need for skilled professionals to assess the ratings are hindering sales in the global market. In addition to this, the availability of low-cost creatinine testing solutions and equipment is further hampering the demand for creatinine meters in the market.
As per FMI, North America is forecast to emerge as the most lucrative market for creatinine meters between 2022 and 2032.
Demand for creatinine meters is increasing rapidly across the medical sector due to the increasing usage in renal dialysis monitoring and measurement of blood and urine analytes. Thus, leading players in the market are focusing on launching novel products to cater to this growing demand.
For instance, in 2022, Nova Biomedical, a U.S.-based manufacturer of medical diagnostics equipment, announced launching a new easy-to-use meter creatinine, Nova Max Pro Creatinine/eGFR Meter System, capable of early detection of kidney disease and kidney function screening in point-of-care settings. A slew of such new product launches is estimated to augment the sales in the North American market.
Future Market Insights predicts that Europe will exhibit rapid growth in the global creatinine meter market from 2022 to 2032.
The burden of chronic kidney diseases and renal disorders is rapidly increasing across Europe, owing to changing eating habits, rising obesity, and smoking. According to a study by the Kidney Care Organization, nearly 10% of the UK population, or more than 6.5 Million people in the country, are estimated to be suffering from chronic kidney diseases.
Creatinine meters are extensively used in the diagnosis and treatment of these diseases. The growing prevalence of chronic kidney diseases is projected to propel the demand for them in the European market.
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Some of the leading players in the creatinine meter market are Thermo Fisher Scientific, Hitachi, Siemens Healthcare GmbH, Randox Laboratories, Abbott, Nova Biomedical, Pointe Scientific, Diasys Diagnostic Systems GmbH, Sentinel Ch. Spa., and others.
Prominent players in the global creatinine meter market are aiming to introduce novel potable and easy-to-use products for point-of-care use to gain an edge in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8% to 9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Modularity, End Use, Region |
| Countries Covered | North America; Latin America; Europe; CIS & Russia; APEJ; Japan; Middle East and Africa |
| Key Companies Profiled | Thermo Fisher Scientific; Hitachi; Siemens Healthcare GmbH; Randox Laboratories; Abbott; Nova Biomedical; Pointe Scientific; Diasys Diagnostic Systems GmbH; Sentinel Ch. Spa.; Others |
| Customization | Available Upon Request |
FMI projects the sales of creatinine meter in the market is expected to rise at 8% to 9% value CAGR by 2032
The global creatinine meter market is expected to be dominated by North America over the forecast period 2022-2032.
Thermo Fisher Scientific, Hitachi, Siemens Healthcare GmbH, Randox Laboratories, Abbott, Nova Biomedical, Pointe Scientific, Diasys Diagnostic Systems GmbH, Sentinel Ch. Spa., and others are some of the leading players in the prominent creatinine meter market.
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Creatinine Meter Market
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