Albumin & Creatinine Tests Market Trends

Growth Drivers

• Rising Rates of Hypoalbuminemia and Hypovolemia – Hypoalbuminemia is one of the major factors associated with acute pancreatitis, and it is estimated that hypoalbuminemia affects 30% of patients with acute pancreatitis. In addition, low albumin levels are directly linked to an increased risk of severity and mortality associated with the condition. Thus, the level of serum albumin in the blood must be continually monitored. A continuous and frequent albumin test is required to monitor serum albumin levels. Hence, these factors are anticipated to lead to positive growth in the market.

• Increasing Prevalence of Chronic Disease Conditions – The prevalence of chronic diseases leads to various kidney disorders, whose severity is assessed by two laboratory tests including creatinine levels and albumin levels in the urine. According to the World Health Organization, approximately 41 million people die every year from chronic diseases across the world, which accounts for 74% of all global deaths.

• Rising Expenditure on Life Science and Medical Research – The United States Government spent more than USD 3 billion in 2019 on health research and development, with the global export value of medical technology products from the UK being nearly USD 5 billion in 2020. Rising expenditure on life science and medical research is creating opportunities for companies that provide integrated systems for albumin and creatinine tests. Increased funding for medical research is expected to drive the market’s growth.

• Fast Growth in the Field of Diagnostics and Increasing Demand for Easy-to-use Kits – In India, the National Accreditation Board of Laboratories increased from 500 in 2015 to 1200 in 2020, which accounts for approximately 1% of total labs in India, as per the estimations. The number of accredited laboratories in various regions has increased rapidly in recent years, owing to the increasing demand for easy-to-use diagnostic kits.

• Growing Geriatric Population and Increasing Practice of Sedentary Lifestyle – As per the World Health Organization, the worldwide old age population is estimated to double and reach 2.1 billion by 2050, from a base of 1 billion in 2020. The geriatric population is more susceptible to chronic diseases such as kidney disease. The sedentary lifestyle of this population group leads to further complications and health risks.

Challenges

• Increased Price of an Automated Analyzer - Automatic analyzers analyze blood samples automatically and provide results within minutes. However, these machines are very expensive and require a great deal of maintenance. Therefore, many hospitals and clinics are unable to afford such devices and prefer to use semi-automated devices. The consequent impact on the adoption rate in developing countries with a large number of small hospitals is expected to hinder the market's growth.
• Lack of Accuracy of the Test
• Diagnostic and Analytical Difficulties with Urine Samples in Chronically Ill Individuals