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Renal Biomarker Market Report – CAGR Status, Market Growth, Trends, Analysis and Forecasts (2018 – 2023) | 360 Market Updates

Latest Report Titled On:- Global Renal Biomarker Market – Segmented by Biomarker Type, Diagnostic Technique, End User, and Geography – Growth, Trends, and Forecast (2018 – 2023)

Renal

Global “Renal Biomarker Market” report provides a detailed analysis of the market from 2018 to 2023. Renal Biomarker market report focuses on market capacity, share, current market trends and upcoming future predictions. Global Renal Biomarker Market is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023).

360 MARKET UPDATES Report provides a 360-degree overview of the global Renal Biomarker Market with special emphasis on all aspects including CAGR Status, drivers, restraints, and opportunities, market and regional segmentation.

Renal Biomarker Market Report Covers Leading ManufacturersBECKMAN COULTER INC., THERMO FISHER SCIENTIFIC INC., ABBOTT MOLECULAR INC., BIOPORTO A/S, ASTUTE MEDICAL INC., RANDOX LABORATORIES LTD, SIEMENS HEALTHCARE DIAGNOSTICS INC., ALERE INC., F. HOFFMANN-LA ROCHE AG.

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The global renal biomarker market is expected to register a good CAGR during 2018-2023 (the forecast period). Kidney disease is a major cause of deaths worldwide. With the increasing incidences of chronic kidney diseases, especially, among the geriatric population, the need for novel biomarkers for early detection of the disease is increasing. Biomarkers are the signs or indicators of a medical state that is observed from outside the patient’s body, measured accurately and reproducibly. At present, serum creatinine, which is used to measure the glomerular filtration rate (GFR), is the most common marker for renal function.

Rising Prevalence of Various Kidney-related Diseases

Currently, kidney-related issues are increasing across the world. According to the global report on care delivery for kidney diseases, it has been estimated that, globally, one in every 10 people suffer from some kind of kidney disease. For example, according to the information provided by the National Institute of Diabetes and Digestive and Kidney Diseases, the prevalence of CKD (chronic kidney disease) in the general population is at about 14% and over 661,000 Americans are suffering from kidney failure. Of these, 468,000 people are on dialysis, and roughly 193,000 are living with a functioning kidney transplant. In 2013, more than 47,000 US citizens died of kidney diseases. The global prevalence rate is increasing every year. Therefore, the market for renal biomarkers is expected to grow, as they are helpful for the detection of kidney diseases.
Additionally, other factors, such as high prevalence of diabetes and high blood pressure, which lead to renal diseases, along with rapid technological advances in the field of genetics, are driving the market growth.

Issues related to Regulatory and Reimbursement Systems

The lack of proper reimbursement systems around the world is a major restraining factor for the global renal biomarker market. The process of securing reimbursement and funding for a diagnostic test for renal diseases is extremely challenging anywhere in the world. Stakeholders need to recognize what knowledge the payers/purchasers are looking for. This asks for an extensive research and interpretation of a very large amount of data. Moreover, international reimbursement structures vary from country to country, hence, interested parties have to come up now and then with new and effective strategies. Therefore, the strategies need to be altered as per the target market, making it a cumbersome and tedious task. Moreover, the developers and marketers of biomarkers have to go through a time-consuming and resource-intensive regulatory procedure, in order to bring their biomarkers to the market. They not only have to clear the US FDA hurdles, but also have to gain the confidence of the payers to obtain insurance coverage and payment for their devices. As a result, several companies tend to avoid this and altogether drop the idea of entering the market studied. These lengthy reimbursement procedures are expected to hinder the growth of the renal biomarker market over the forecast period.

The US to Lead the Market in North America

In 2017, the US renal biomarker market held the largest market share in North America, due to the presence of high-quality healthcare system, along with the prevalence rate of kidney diseases being high in this region.

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Reasons to Purchase Renal Biomarker Market Report:

  • Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
  • The authentication mode is likely to witness the highest adoption of these systems in the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel). 

“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

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