Increasing incidences of cardiovascular diseases and supportive government initiatives to improve quality of testing to drive global cholesterol testing market
According to TechSci Research report, “Global Cholesterol Testing Market By Indication (Atherosclerosis, Diabetes, Obesity, Others), By Product (Test Strips, Test Kits), By End-Product (Total cholesterol, High-density lipoprotein cholesterol, Low-density lipoprotein cholesterol, Triglycerides), By Test (Lipid Panel Test, Apolipoprotein B Test, Others), ByAge (Before Puberty, Puberty, Adulthood),By End-User (Hospitals & Clinics, Homecare, Others), By Region, Forecast & Opportunities, 2025”, the global cholesterol testing market is expected to witness rapid growth during the forecast period. This can be attributed to increasing incidence of cardiovascular diseases, obesity, technological advancements in cholesterol testing, rise in geriatric population and growing awareness towards healthcare. Furthermore, increase in healthcare expenditure and rise in public awareness about various cardiovascular diseases is anticipated to drive the market in the coming years. Moreover, high cholesterol has no symptoms; hence it requires a complete cholesterol testing. Consumers are now aware of the risks associated with elevated levels of cholesterol and the increasing chances of heart diseases due to it. Therefore, they prefer keeping a check on their cholesterol level. Also, physicians now a days are preferring for lab testing over self-testing, besides growing awareness and adoption of preventive healthcare. Additionally, rise in public awareness about cardiovascular disease, health risks associated with it, causes, treatment, and prevention is further anticipated to fuel the growth of cholesterol testing market. Moreover, ever evolving home/self-testing market and emergence of noninvasive cholesterol testing methods are also expected to boost the global cholesterol testing market across the globe. Furthermore, growing cases of thyroid disorders, especially among women and adults is also fueling the cholesterol testing market as hypothyroidism causes disruption of lipid metabolism and requires cholesterol check. However, the global cholesterol testing market might also face some hindrance in its growth. Swift growth in self-testing devices and emergence of noninvasive cholesterol testing approaches might prove as a threat to the overall growth of cholesterol testing market.
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The global cholesterol testing market is segmented based on indication, product, end product, test, age, end-user, and region. Based on product, the market is segmented into test strips, and test kits. The test kits segment is further divided into without meter, with meter and mail-in. Among these, test kits segment is anticipated to hold largest market share in terms of revenue during the forecast years as they are the most convenient and effective way to test cholesterol levels and allow the monitoring of cholesterol without visiting the doctor and give test results in minutes. Based on test, the global cholesterol testing market is segmented into Lipid Panel Test/Complete Lipid Profile, Apolipoprotein B Test, Apolipoprotein A-1 Test, Apoe Genotyping Test, Apolipoprotein CII and others. Lipid panel test or complete lipid profile is expected to dominate the market until 2025 owing to the fact that the results of this test can identify certain genetic diseases and can determine approximate risks for cardiovascular disease, certain forms of pancreatitis, and other diseases.
Major players operating in the global cholesterol testing market include Abaxis, Inc., Abbott Laboratories, Akers Biosciences, Inc., Beckman Coulter, Inc., Bio-Reference Laboratories, Boston Heart Diagnostics Corporation, Cell Biolabs, Inc, Clinical Reference Laboratory, Inc., F. Hoffmann-La Roche Ltd, Prima Lab SA, PTS Diagnostics, Quest Diagnostics, Randox Laboratories, Sekisui Diagnostics, LLC, Siemens Healthineers, Sigma-Aldrich Corporation, Spectra Laboratories, SpectraCell Laboratories, Inc, Thermo Fisher Scientific, Unilabs and others. The companies are focusing on development of new and advanced monitoring devices to overcome the challenges in existing testing devices and hence the global market for cholesterol testing is highly competitive.
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“Emerging economies like China and India are serving as evolving markets for cholesterol testing companies due to the prevalence of poor dietary habits and lifestyle patterns in these two nations. Additionally, the key market players are gaining cooperation from international bodies and local government agencies with an aim to provide quality diagnostic testing services across the world. This is anticipated to further boost the cholesterol testing market in the coming years. Also, medicare and medical benefits provided by organisations to their employees would also help fuel the overall growth of the market.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Cholesterol Testing Market By Indication (Atherosclerosis, Diabetes, Obesity, Others), By Product (Test Strips, Test Kits), By End-Product (Total cholesterol, High-density lipoprotein cholesterol, Low-density lipoprotein cholesterol, Triglycerides), By Test (Lipid Panel Test, Apolipoprotein B Test, Others), ByAge (Before Puberty, Puberty, Adulthood),By End-User (Hospitals & Clinics, Homecare, Others), By Region, Forecast & Opportunities, 2025”,has evaluated the future growth potential of global cholesterol testing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cholesterol testing market.