Cystatin C Assay Market worth $540 million by 2028

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Cystatin C Assay Market in terms of revenue was estimated to be worth $377 million in 2023 and is poised to reach $540 million by 2028, growing at a CAGR of 7.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by growing number of old age population and rising number of kidney diseases. However, high development costs of cystatin C assay may challenge the growth of this market.

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Cystatin C Assay Market Scope:

UK in European cystatin C assay market to witness the highest shares during the forecast period.

The European cystatin C assay market is segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. UK is projected to occupy the highest share during the forecast period. Market growth is attributed to the rising geriatric population & chronic diseases, increasing number of accredited clinical & hospital laboratories, growing government healthcare expenditure.

Clinical laboratories in End user’ cystatin C assay market to witness the second highest growth rate during the forecast period.

Based on the end user, cystatin C assay market is segmented into hospitals, clinical laboratories, and pharmaceutical & biotechnology companies & CROs & academic research institutes The clinical laboratories registered the second highest CAGR, due to the growing number of clinical tests performed in laboratories and the increasing number of accredited laboratories, and serving as centralized hubs for diagnostic testing, where a wide array of tests, including cystatin C assays which support market growth.

China dominates the Asia Pacific cystatin C assay market.

The APAC cystatin C assay market is segmented into Japan, China, India, and Rest of Apac. In 2022, China accounted for the largest share of the Asian cystatin C assay market. The large share of China can be attributed to the government efforts to increase awareness about the early detection of diseases and regular health check-ups; rising healthcare expenditure; the increasing number of hospitals and clinical diagnostic laboratories in India and China; and strengthening research base for diagnostic procedures across India, China, and Japan, rising cases of CKD.

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Cystatin C Assay Market Dynamics:

Drivers:

1. Rising prevalence of kidney diseases
2. Growing geriatric population
3. Recent advancements in chemiluminescence immunoassay technologies
4. Growth in biotechnology and biopharmaceutical industries
5. Increasing adoption of POC testing
6. Supportive government policies

Restraints:

1. Stringent requirements for approval of cystatin C assay instruments and consumables
2. High development costs of cystatin C assays

Opportunities:

1. Growth opportunities in emerging economies
2. Importance of companion diagnostics
3. Development of condition-specific biomarkers and tests

Challenge:

1. Dearth of skilled professionals

Key Market Players of Antibody Drug Conjugates Industry:

The significant players in the cystatin C assay are Siemens Healthcare GmbH (Germany), Thermo Fisher Scientific Inc. (US), Abbott (US), Roche Diagnostics Limited. (Switzerland), and Bio-Techne (US), Randox Laboratories Ltd. (UK), DiaSys Diagnostic Systems GmbH (Germany), and Eurolyser Diagnostica GmbH (Austria)

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About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.