Artificial Intelligence
Kidney Function Test Market to Earn Massive Revenue by 2029 | Brandessence Market Research
According to a comprehensive research report by Brandessence Market Research (BMRC), “Kidney Function Test Market Size, Share Outlook Growth By Top Company, Development, Application, Segmentation, Trends And Forecast 2022-2029.”
Renal or kidney related diseases have become highly prevalent across the globe. It is very crucial for individuals to opt for kidney function tests so as to determine the onset of any renal disease at an early stage. Different types of urine and blood tests are conducted to check on whether the kidney is healthy and functioning well. Through early diagnosis of any underlying disorder, individuals can opt for efficient treatments and preventive measures before it gets too late.
The business intelligence report on this market offers a deep dive assessment of the top factors influencing the expansion trajectory of this industry. Growth drivers, restraints, challenges, and opportunities pertaining to this industry are well elaborated in this marketspace. It also offers a 360-degree outlook of the top market segments and geographical landscape with accurate growth projections of each region, country, and niche segments. Apart from that, it highlights each player operating in this industry with prime focus on their product portfolio, revenue, brand strategies, expansion, and other crucial aspects.
Key Takeaways:
- Growing prevalence of renal diseases, surge in the geriatric population base, and unhealthy lifestyle trends of the masses are aiding market expansion.
- By type, the urine tests segment is poised to amass notable gains due to the high accuracy and efficacy associated with these tests.
- MEA is projected to account for a substantial revenue share owing to the increased occurrence of kidney diseases and rapidly evolving healthcare infrastructure.
Kidney Function Test Market is reckoned to grow with a substantial CAGR over the assessment timeline of 2022-2029.
Kidney Function Test Market Report Scope:
|
Report Metric |
Details |
|
Base Year |
2021 |
|
Study Period |
2022-2029 |
|
Key Players/Companies |
Metabolic Solutions Development Company LLC, F. Hoffmann-La Roche Ltd., Baxter International Inc., Galectin Therapeutics, Inc., Otsuka Holdings Co., Ltd., Discovery Biomed, Inc., Ipsen S.A., Kadmon Corporation, LLC, Plexxikon Inc., Eli Lilly and Company, Endocyte, Inc., IC-Meditech, Inc., Pfizer Inc., ManRos Therapeutics, and others are the prominent players defining the competitive terrain of this business vertical. |
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Elaborating the key trends and dynamics of Kidney Function Test Market:
Growing prevalence of renal diseases, surge in the geriatric population base, and unhealthy lifestyle trends of the masses are aiding the expansion of this business sphere. Also, escalating demand for early disease diagnosis and treatment is another crucial growth propellant of this market space. The rapid increase in healthcare expenditure, growing medical research activities, and rising awareness about renal diseases are creating lucrative opportunities for this industry sphere to prosper.
Major growth drivers
Rising prevalence of renal diseases- Kidney related disorders are occurring at high rates across the globe. Unhealthy dietary habits, rising trends of alcohol consumption and smoking along with growing food adulteration are some of the primary factors leading to the onset of renal disorders. This has escalated the demand for kidney function tests worldwide.
Surge in the geriatric population base- There is a steep rise in the elderly populace worldwide. The aging individuals are highly susceptible to kidney disorders and require proper medical care. With age, kidney and other internal organs of our body weakens and become prone to various disorders. This in turn is creating an upward trend in this marketplace.
Challenges
Lack of awareness- A large part of the population is still unaware of various renal conditions. They are reluctant to opt for kidney function tests as they are ignorant of the outcomes of kidney-based diseases. This in turn is hindering the remuneration scope of this industry.
Competitive landscape of Kidney Function Test Market.
- Metabolic Solutions Development Company LLC
- F. Hoffmann-La Roche Ltd
- Baxter International Inc.
- Galectin Therapeutics, Inc.
- Otsuka Holdings Co., Ltd.
- Discovery Biomed, Inc.
- Ipsen S.A.
- Kadmon Corporation, LLC
- Plexxikon Inc.
- Eli Lilly and Company
- Endocyte, Inc.
- IC-Meditech, Inc.
- Pfizer Inc.
- ManRos Therapeutics
- others.
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Segmental Assessment:
By type, the urine tests segment is poised to amass notable gains over 2022-2029 due to the high accuracy and efficacy associated with these tests.
Based on end user, the hospitals segment is likely to generate significant returns over the stipulated timeline. This is ascribed to the establishment of well-equipped diagnostic set ups across hospitals.
Geographical analysis and landscape:
Middle East & Africa Kidney Function Test Market:
MEA is projected to account for a substantial revenue share over the estimated timeframe. This is credited to the increased occurrence of kidney diseases, rapidly evolving healthcare infrastructure, along with growing R&D activities in the field. Alongside, rising awareness about the target diseases coupled with the escalating demand for early diagnosis and treatment are fuelling the growth of this regional market.
Europe:
Europe is anticipated to register the fastest CAGR over 2022-2029. This is ascribed to the surge in the geriatric population base, presence of prominent players, and influx of advanced technologies in the healthcare sector. Moreover, growing health cognizance among the masses and existence of ideal medical reimbursement scenario are adding traction to the development of this industry.
Opportunities in this industry:
Increased prominent of point of testing-
POC testing is quite convenient for both patients and healthcare providers since they can be conducted outside laboratory settings, i.e. at the place of patients care. It reduces infrastructural costs for healthcare facilities and ensure real time results. This is positively swaying the dynamics of this business vertical.
Major developments in Kidney Function Test Market
Launches
In March 2022, Nova Max Pro Creatinine/eGFR Meter System, a kidney health screening tool was launched by Nova Biomedical.
Porter’s Five Forces Analysis:
Threat of New Entrants:
The threat of new entrants in the Kidney Function Test Market is relatively low. The industry requires significant investments in research and development, regulatory approvals, and manufacturing capabilities to produce accurate and reliable kidney function tests. Established companies already have strong brand recognition and distribution channels, creating barriers for new players. Additionally, the industry may have specific regulatory requirements and quality standards that further deter new entrants.
Bargaining Power of Suppliers:
The bargaining power of suppliers in the Kidney Function Test Market can vary depending on the availability of key inputs and technology. Suppliers of raw materials, reagents, and advanced technologies used in kidney function tests may have some bargaining power, especially if they offer unique or specialized components. However, the market likely has multiple suppliers, reducing their overall influence. Companies in the industry may also invest in backward integration or maintain multiple supplier relationships to mitigate supplier power.
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Bargaining Power of Buyers:
The bargaining power of buyers in the Kidney Function Test Market can be moderate to high, especially for large buyers such as hospitals and healthcare facilities. Buyers can compare offerings from various diagnostic companies and negotiate prices based on volume purchasing. Moreover, healthcare providers may switch between different kidney function test providers if they offer better pricing or improved product performance. However, the critical nature of kidney function tests and the need for reliable and accurate results may limit buyers’ willingness to compromise on quality for lower prices.
Threat of Substitutes:
The threat of substitutes in the Kidney Function Test Market is relatively low. Kidney function tests are essential for diagnosing and monitoring kidney diseases accurately. Although there are alternative tests and imaging methods to assess kidney health, kidney function tests remain the standard and most reliable option. As a result, the threat of substitution is limited, particularly in a clinical setting where precise measurements are crucial for patient management.
Competitive Rivalry:
The Kidney Function Test Market is likely to experience moderate to high competitive rivalry. Several established diagnostic companies and healthcare organizations are actively involved in the development and distribution of kidney function tests. Intense competition exists in terms of product performance, technology, pricing, and market share. The industry’s relatively slow growth rate and the importance of differentiating products can lead to aggressive marketing and product innovation to gain a competitive advantage.
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Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
TAIPEI, May 23, 2024 /PRNewswire/ — NEXCOM, a leading supplier of network solutions, published AI and storage performance test results of its NSA 7160R: high-performance Edge server. NSA 7160R is powered by dual Intel® Xeon® Scalable processors for high computing, and enhanced with DDR5 memory, high-bandwidth PCIe Gen5 LAN modules, and high-capacity NVMe storage modules. The test results show the efficiency of the NSA 7160R in processing edge video server workloads and were explained in the accompanying paper.
Edge AI Is the Future
With the rise of smart cities, processing data from cloud to the edge is becoming increasingly critical. Imagine the surge of visual data from ubiquitous security cameras – that information needs real-time analysis right where it’s collected. This is just the tip of the iceberg. As artificial intelligence permeates our lives, certain AI tasks will also need edge computing for efficient, lightning-fast performance. The key is to avoid bottlenecks in the data center by keeping things localized and streamlined.
Your Turnkey Solution Awaits
When it comes to Edge video servers, you need top-notch hardware and software that can handle all the “heavy lifting”. To speed up the total solution bringing up Intel comes in with their Intel® Edge Video Infrastructure (Intel® EVI) reference design. NEXCOM ran a bunch of tests using this design to evaluate its NSA 7160R for essential tasks including storage, image retrieval, and AI features such as inference and feature matching.
After conducting all tests, the results have shown that NSA 7160R meets all performance expectations with outstanding results. For a detailed breakdown of the solution description, test configuration, and results, please refer to the accompanying paper.
Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
About NEXCOM
Founded in 1992 and headquartered in Taipei, Taiwan, NEXCOM integrates its diverse capabilities and operates six global businesses, including the Network and Communication Solutions (NCS) unit. NCS focuses on the latest network technology and helps to build reliable network infrastructure, by delivering professional design and manufacturing services for customers all over the world. NCS’s network application platform is widely adopted in Cyber Security, Load Balancing, 5G uCPE, SD-WAN, SASE, Edge Computing, OT Security, Storage, NVR, and other network applications for businesses of all sizes.
Video – https://www.youtube.com/watch?v=4WlO8fyWnu4
View original content:https://www.prnewswire.co.uk/news-releases/nexcom-delivers-exceptional-performance-in-edge-ai-video-analytics-302153555.html
SHANGHAI, May 23, 2024 /PRNewswire/ — Qiming Venture Partners, a global-leading venture capital firm, is pleased to announce the promotion of Alex Zhou to Managing Partner.
As a Qiming home-grown Managing Partner, Alex first joined the firm in 2014 as a Vice President and has since emerged as one of the most active investors in frontier technologies, especially in the field of artificial intelligence. Alex will join fellow Managing Partners Duane Kuang, Nisa Leung and William Hu in managing Qiming’s operations.
In the past few years, Alex has actively participated in or led investments in many outstanding technology companies across the artificial intelligence, robotics, semiconductors, new energy vehicles, and software sectors. Notable among these include Roborock, UBTech, Unisound, Biren Technology, ROX Motor, VIEWTRIX Technology, Zhipu AI, Mech-Mind Robotics, Axera, HyperStrong, DeepWay, etc.
“I am deeply grateful for the guidance and trust I received from Qiming over the past 10 years.” Alex said. “We are at the forefront of a new wave of technological revolution. This era will undoubtedly bring about many bold innovators who will shape the future. Together with all the Managing Partners and colleagues at Qiming, I am excited and fully committed to seize the opportunities, embrace any potential challenges, explore new possibilities and build a better Qiming.”
Since its inception 18 years ago, Qiming has always committed to upgrading its institutional capabilities and team development in order to stay ahead in an ever-evolving technological and market landscape. The success achieved in the fields of healthcare, mobile internet and frontier technology is a testament to this strategic approach. Alex’s promotion to the most senior position in the firm demonstrates Qiming’s continued confidence in the future of technology innovation.
About Qiming Venture Partners
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.5 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 530 fast-growing and innovative companies. Over 200 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or through M&A or other means. There are also over 70 portfolio companies that have achieved unicorn or super unicorn status.
Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, UBTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, among many others.
View original content:https://www.prnewswire.co.uk/news-releases/qiming-venture-partners-promotes-alex-zhou-to-managing-partner-302153306.html
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