by The global Renal Biomarkers Market is estimated to be valued at US$ 1,476.2 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The renal biomarkers market consists of various products such as serum creatinine, serum cystatin C, neutrophil gelatinase-associated lipocalin (NGAL), kidney injury molecule 1 (KIM-1), interleukin 18 (IL-18), liver-type fatty acid binding protein (L-FABP) and others. These biomarkers are helpful in providing valuable information about the various stages of chronic kidney diseases.They help in early detection of acute kidney injury, monitoring disease progression, predict patient outcomes and drug response. This helps healthcare professionals to manage and treat kidney disease effectively.
Market key trends:
One of the major trends in the renal biomarkers market is the increasing focus on developing novel biomarkers. With advancements in technologies such as proteomics and metabolomics, researchers are exploring new biomarkers that can provide information about mechanisms of kidney injury. Some of the novel renal biomarkers that are under research include uteroferrin, insulin-like growth factor-binding protein 7, netrin-1, osteopontin etc. Apart from this, integration of artificial intelligence for analyzing multi-omics data from renal biomarkers is also a key trend witnessed in the market. This helps in non-invasive assessment of kidney function as well as detection of kidney diseases at an early stage.
Porter’s Analysis
Threat of new entrants: The renal biomarkers market requires significant investment in R&D for the development of novel biomarkers. This acts as a barrier to entry for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of a large number of established players offering renal biomarkers. However, the specialized nature of these products limits switching between alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are numerous component suppliers for OEMs and key materials can be easily substituted.
Threat of new substitutes: There exists a low threat of new substitutes as renal biomarkers have applications that are difficult to replace.
Competitive rivalry: High due to the large number of major players focusing on new product launches and geographical expansion.
Key Takeaways
The global Renal Biomarkers Market Size is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing prevalence of kidney diseases.
Regionally, North America is expected to dominate the global renal biomarkers market owing to growing incidence of chronic kidney diseases in the region. However, Asia Pacific is anticipated to exhibit the fastest growth during the forecast period.
Key players operating in the renal biomarkers market are Beckman Coulter, Inc., Thermo Fisher Scientific Inc., Abbott Laboratories, Bioporto Diagnostics A/S, Astute Medical, Inc., Randox Laboratories, Sphingo Tec GmbH, Siemens Healthineers AG, Eli Lilly and Company, and Novartis AG.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
