Cholesterol Testing Products Market Worth US$ 49.4 Billion by 2034 | Exclusive Report by Transparency Market Research Inc
The growing investments in the healthcare sector will likely create several opportunities for key players in the industry. The prospective advancement of the industry is vastly dependent on the growth of leading players, and hence, this will be the decisive factor in determining the upliftment of the sector.
WILMINGTON, Del., July 17, 2024 /PRNewswire/ -- The projected size of the global cholesterol testing product market will reach USD 49.4 billion by 2034, which will be lifted from USD 21.8 billion, measured in 2023. This development will occur at a moderate to impressive CAGR of 7.8% through the forecasted period.
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With the growing proportion of obese population across the world, the rate of heart issues is growing. People have been struggling to ensure the well-being of the heart, which drives the demand for suitable measures to arrest such issues.
The demand from medical professionals will likely increase due to the increased number of patients visiting clinics or hospitals for check-ups. This is a key driver for the industry, elevating the growth rate of the sector.
The growing prevalence of cardiovascular diseases will likely spur the demand for accurate diagnosis and medical examination of individuals to reduce as well as control the threat of heart failure. As a result, the cholesterol testing products will likely gain traction in the industry, upscaling the market.
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With the increasing obese population in the world, the proportion of cholesterol accumulation along blood vessels will spur. This threatens people with several heart-related issues, affecting the quality of life of individuals. The demand for cholesterol testing products, therefore, will likely elevate, driving the growth rate of the industry.
The initiatives of governments have helped the healthcare industries in different countries to become robust. This creates various opportunities for key players in the industry to explore different market openings. The scope of innovation also spurs, inducing a chance for reduced costs of devices, pushing the growth of the industry.
Key Findings from the Market Report
-- With the cholesterol testing product market being divided into many key
segments, the product type segment will likely gain the highest
traction. Test kits are an integral part of the segment, which is
gaining popularity in a wide age group range. The easy usability and
better reliability of such test kits uplift the demand.
-- To calculate the total cholesterol accumulated in the blood vessels,
many patients prefer total cholesterol tests. This segment, hence, is
expected to gain traction during the forecasted period.
-- With the growing investments in the healthcare infrastructure, the total
number of hospitals worldwide is expected to spur. This will likely
surge the demand in the segment, helping the end-user contribute
significantly to the growth of the industry.
-- Similar to hospitals, private diagnostics centers are also increasing,
which drives the demand for test kits in such centers.
Cholesterol Testing Product Market Report Scope:
Report Coverage
Details
Forecast Period
2024-2034
Base Year
2020-2022
Size in 2023
US$ 21.8 Bn
Forecast (Value) in 2034
US$ 49.4 Bn
Growth Rate (CAGR) 7.8 %
No. of Pages
167 Pages
Segments covered By Product Type, By Test, By End-user By
Region
Regional Profile
-- The healthcare infrastructure in North America is better. Countries like
Canada and the United States have robust healthcare support, creating
lucrative growth prospects for key players.
-- In the case of Europe, government investments in the healthcare sector
and the nationalized healthcare services in countries like the United
Kingdom (NHS) will help the region contribute substantially to the
development of the market.
-- With the growing population in Asia-Pacific, the demand for check-ups
will likely spur. This will elevate the contribution of the region
during the forecasted era.
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Key Developments in the Cholesterol Testing Product Market
-- In November 2023, Ngaio Diagnostics collaborated with Randox. The said
initiative helped the latter business to bring products to the New
Zealand market.
-- In January 2024, Abbott Laboratories launched PROTALITY. The brand
promises to provide nutritional support for adults who are in the
pursuit of weight loss.
Competitive Landscape
The global cholesterol testing product market is highly cluttered. Different key players occupy a substantial market space, governing the competitive landscape. Athenese-Dx Private Limited is a key competitor in producing Alta semi-auto chemistry analyzers, Alta rapid test readers, Alta ELISA plate readers, and many more.
-- Ngaio Diagnostics is another key player that manufactures mini digital
incubators, AxCCS-5 rapid calf scour test kits, campylobacter latex, and
so on.
-- Abbott Laboratories operates in different verticals and produces
cardiovascular devices, neuromodulator kits, and various diagnostics
units.
Key Players
-- Athenese-Dx Private Limited
-- Ngaio Diagnostics
-- Abbott Laboratories
-- Thermo Fisher Scientific
-- Biogenix Inc. Pvt. Ltd.
-- CLIAwaived Inc
-- F. Hoffmann-La Roche Ltd.
-- PerkinElmer Inc.
-- Randox
-- Abcam Limited
-- Diazyme Laboratories Inc.
-- Others
Market Segmentation
Product Type
-- Test Kits
-- Test Strips
-- Chemical Analyzers
Test Type
-- Total Cholesterol Test
-- High-density lipoprotein (HDL) Cholesterol Test
-- Low-density lipoprotein (LDL) Cholesterol Test
-- Triglycerides/Very-Low-Density Lipoprotein (VLDL) Cholesterol Test
End User
-- Hospitals & Clinics
-- Diagnostic Centers
-- Others (Research Institutes, etc.)
Region
-- North America
-- Europe
-- Asia Pacific
-- Latin America
-- Middle East & Africa
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