Major Players are St. Jude Medical, Inc. (U.S.), Starkey Hearing Technologies (U.S.), PerkinElmer, Inc. (U.S.), Stryker Corporation (U.S.), and Affymetrix, Inc. (U.S.).
(PRWEB) March 26, 2015
The urinalysis systems market is expected to reach $1,286 million by 2019 from $892 million in 2014, at a CAGR of 7.6%. The global urinalysis systems market is categorized on the basis of product, test type, application, end user and region. The disease diagnostics segment is expected to register the highest growth rate in the urinalysis systems market, by application, during the forecast period.
The implementation of the Affordable Care Act (ACA) in the U.S. which make necessity for the hospitals to perform frequent urinalysis tests to keep a check on hospital acquired infections is a major factor driving the urinalysis systems market. Furthermore, government support in the form of funding, increasing incidences of diabetes, colossal pool of the elderly population and technological advancements are other factors driving the growth of this market. The relatively untapped markets of the Asian region and high adoption rate of point-of-care urinalysis devices have opened an array of opportunities for the urinalysis systems market. However, the lower adoption rate of fully automated systems in less developed economies and low awareness regarding kidney diseases, diabetes and urinary tract infections in developing economies are expected to restrain the growth of this market. The Asian region and point-of-care devices are expected to serve as new revenue pockets for the urinalysis systems market in the coming five years.
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