Osmometers are medical devices that are used to measure the osmolarity or concentration of particles such as solutes, electrolytes, or proteins in body fluids like blood, saliva, urine and tears. They provide an accurate assessment of solute concentration in various bodily fluids which helps doctors determine the severity of various diseases and disorders that cause changes in fluid osmolarity levels. Rising prevalence of kidney disorders around the world is fueling the demand for osmometers as osmolarity testing is essential for diagnosing and monitoring kidney diseases. It is estimated that over 850 million people suffer from kidney diseases globally.
The global Osmometers market is estimated to be valued at US$ 150.2 million in 2024 and is expected to exhibit a CAGR of 15% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the global osmometers market is the increasing adoption of digital devices. Earlier, manual osmometers were used broadly which required multiple steps for testing. However, the introduction of digital osmometers have simplified the process and provided accurate and fast results. These digital osmometers operate on the principle of freezing point depression method and do not require complicated procedures. Furthermore, technological advancements have enabled incorporation of features like data storage, connectivity with external devices and automatic calibration in digital osmometers. This has augmented their demand across healthcare settings.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to availability of basic technology. However, established brands have strong customer loyalty and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, quality certifications provide brand assurance.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components. However, components require technical knowledge for production.
Threat of new substitutes: Threat of substitution is moderate as other methods like freezing point depression provide similar analytic results but require different sample preparation.
Competitive rivalry: Intense competition due to established global players. Companies compete on technology, reliability, price and brand reputation.
Key Takeaways
Global Osmometers Market Demand is expected to witness high growth.
Regional analysis : Asia Pacific is likely to emerge as the fastest growing market owing to rising healthcare expenditure, increasing disease incidence and growing biopharmaceutical industry. China, India and Japan are major markets in the region.
Key players: Key players operating in the global osmometers market are Nova Biomedical, ASTORI TECNICA, KNAUER Wissenschaftliche Gerete GmbH, ratiolab, Labtek Services Ltd., Advanced Instruments, ELITechGroup Inc., Precision Systems Inc., and ARKRAY Inc. These players are focusing on new product launches and expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it