As Per the Report, the Size of the Latin America Renal Biomarkers Market is valued at USD 84.53 million in 2022 and estimated to grow at a CAGR of 8.21%, to reach USD 125.41 million by 2027 during the forecast period 2022 to 2027.
Renal biomarkers are used to diagnose a renal disorder. They indicate the causative factor and various parameters that suggest an Acute Kidney Failure (AKD) or a chronic Kidney Failure (CKD). This information is helpful to help prevent complications in the patient. With a growing number of people suffering from kidney disorders, the market has been driven by this ever-increasing number of cases in recent years.
According to research published in Renal International Reports in 2019, approximately 40% of children showed chronic kidney disease progressed within two years of follow-up. The overall prevalence of CKD in the general population is around 15.6 percent, and roughly 6,80,000 Americans have kidney failure, according to the National Institute of Diabetes, Digestive, and Kidney Diseases. These are estimated to increase due to sedentary lifestyle, stress, hypertension, inflammatory disease of the kidney, chronic disease complications such as Diabetes, Cushing syndrome, Cardiovascular disorders, etc., side effects of drugs and alcohol abuse, etc.
If not treated, chronic kidney disease leads to one major complication: end-stage renal disease (ESRD). ESRD is hard to manage as the patient is critical and has a bad prognosis. The National Kidney Foundation expected in 2018 that about 500,000 ESRD affected patients were on dialysis. People suffering from ESRD are treated with either a renal transplant or routine dialysis; both options are difficult to manage and often result in other complications and death. As per the data published by the Global Burden of Disease Study, kidney disorders were one of the most common causes of death across the world, estimated for 1.5 million deaths globally in 2018. Furthermore, CKD mortality increased by 33% over the past decade, making it one of the fastest rising significant causes of death after dementia and diabetes. These numbers are expected to drive the Latin America Renal biomarkers market in the projected period.
Advancements in technologies have improved renal biomarkers with better efficiency and quicker results. Early detection of renal disorders such as renal cancer, AKF or CKF, has given better outcomes to patients and physicians in the region. Moreover, R&D in renal biomarkers is also expected to help the market growth. All the factors mentioned above have driven the market to greater heights in the past few years.
Although these renal biomarkers are breakthrough technological advancements, they have low sensitivity and specificity, and these factors hamper the renal biomarker market in Latin America. Additionally, the market is also affected by the availability of other conventional renal tests; these are preferred as they are cheaper and considered gold standard in developing nations.
This research report on the Latin America Renal Biomarkers Market has been segmented and sub-segmented into the following categories
By Diagnostic Technique:
Geographically, Brazil renal biomarkers market held a dominant position in the Latin American renal biomarkers market, accounting for a massive market share of 33% overall revenues, followed by Mexico. These two countries are expected to dominate the market due to their sizeable growing population and increasing disease prevalence in these regions.
On the other hand, Mexico renal biomarkers market will have many increasing opportunities due to the availability of good healthcare facilities, favorable government initiatives to limit renal disorders, growing healthcare awareness among the population.
Other Latin American nations such as Peru, Puerto Rico, Ecuador, etc., are also estimated to expand throughout the projected period due to the increasing prevalence of advanced kidney disorders and their complications. In addition, increased alcohol and tobacco consumption and obesity will drive the regional market in many parts of Western and Southern Latin American regions in the years to come.
KEY MARKET PLAYERS
Noteworthy Companies leading the Latin America Renal Biomarkers Market Profiled in the Report are Abbott Diagnostics, F. Hoffmann-La Roche AG, Beckman Coulter Inc., Astute Medical Inc., Siemens Healthcare Diagnostics Inc., Thermo Fisher Scientific Inc., Alere Inc., bioMérieux SA, and Randox Laboratories Ltd.,
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: firstname.lastname@example.org