Cholesterol Testing Market is fueled by Test Kits Segment During the Forecast Period
Rising prevalence of cardiovascular diseases and
increase in demand of point-of-care testing devices and home cholesterol
testing kits is expected to drive the Global Cholesterol Testing Market growth
in the forecast period, 2024-2028.
According to TechSci Research report, “Cholesterol
Testing Market - Industry Size, Share, Trends, Opportunity, and Forecast,
2018–2028F”, The global cholesterol testing market stood at USD12.36
billion in 2022 and is anticipated to grow at a CAGR of 6.92% through 2028. The
growth and innovation in the pharmaceutical industry, particularly in the
manufacturing of cholesterol kits, presents an opportunity for the cholesterol
test market. The market size for cholesterol tests is expected to be driven by
untapped emerging markets, improved healthcare infrastructure, unmet healthcare
needs, the prevalence of cardiovascular disease, and the demand for cholesterol
test kits. The decline in physical activity stands out as a significant
contributor to the accelerated growth of the cholesterol testing market.
Moreover, the market is propelled by the increasing
demand for regular checkups, screenings, and effective cholesterol management.
The market is also driven by the rising demand for over-the-counter cholesterol
test kits, the ongoing miniaturization of electronics facilitating the
development of self-testing kits, and the positive impact of these
advancements. However, the limited availability of diagnostic laboratories and
the implementation of stringent regulatory policies pose challenges to the
cholesterol testing market. On the other hand, skilled professionals in
developing countries present opportunities for market growth. Furthermore,
substantial investments in healthcare sector infrastructure and the continuous
need for technological advancements create promising prospects for the
cholesterol testing market.
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Moreover, the healthcare industry in emerging
economies is rapidly developing due to increased demand for enhanced healthcare
services, government investments in healthcare infrastructure, and the growth
of medical tourism. E-commerce has become an indispensable tool for businesses
globally, as consumers increasingly prefer online shopping over traditional
methods, further supporting market growth. The demand for cholesterol test
products is not limited to developed countries, but also observed in developing
countries such as China, Brazil, and India, contributing to market growth.
Factors such as increased consumption of carbohydrate-based and packaged foods,
poor eating habits, and unhealthy lifestyles among both young and adult
populations have led to elevated cholesterol levels, driving the growth of the
cholesterol test market. Additionally, rising consumer awareness of preventive
healthcare and improved accessibility further boost the adoption of cholesterol
tests.
Moreover, the increase in the geriatric population and
growing awareness of a healthy lifestyle among the general population are
expected to drive their adoption in the near future. High cholesterol is often
referred to as a silent killer, responsible for approximately 2.6 million
deaths worldwide each year. Cholesterol testing plays a crucial role in
identifying individuals at risk of heart disease and determining appropriate
preventive measures. PocDoc, an innovative healthcare technology company, has
achieved a significant milestone by obtaining the UKCA (UK Conformity Assessed)
mark for its pioneering digital cholesterol test. By securing the UKCA mark,
PocDoc ensures that its product complies with the stringent safety,
performance, and quality requirements established by UK authorities. In a
pioneering move aimed at revolutionizing healthcare management, Thriva, a
leading health-tech company, has announced the expansion of its blood testing
services to include a cutting-edge multichannel collection option. This
innovative approach represents a significant advancement in accessible and
convenient health monitoring.
However, certain medications like beta-blockers,
diuretics, steroids, hormone replacement therapy, and birth control pills can
affect cholesterol levels and influence test results. Moreover, factors such as
incorrect fasting, medication use, human error, and other variables can lead to
false-negative or false-positive results, which can hinder the growth of the
cholesterol test market.
The Global Cholesterol Testing Market is segmented
into product type, test type, prescription mode, end user, regional
distribution, and company.
Based on product type, the market is segmented into
test kits, test strips, and others.The Test Kits Segment has emerged as a
leading contender in the market owing to its convenience, accessibility, and
user-friendly nature. Test kits provide individuals with the capability to
perform cholesterol tests in the comfort of their own homes or at point-of-care
facilities, with minimal need for extensive medical supervision.
Based on region, North America segment is expected to
grow during the forecast period. North America is projected to experience
significant growth, driven by its well-established healthcare infrastructure,
increasing number of individuals with high cholesterol levels, rising
prevalence of heart diseases, and growing burden of obesity in the region. In
September 2020, the Centers for Disease Control and Prevention (CDC) reported
an increase in adult obesity prevalence and persistent racial and ethnic disparities,
attributed to factors such as remote work, reduced physical activity, and
financial and other stressors among the adult population. The CDC highlighted
that obesity rates remain high, with twelve states having an adult obesity
prevalence at or above 35%, including Alabama, Arkansas, Indiana, Kansas,
Kentucky, Louisiana, Michigan, Mississippi, Oklahoma, South Carolina,
Tennessee, and West Virginia. This is a notable increase from the previous nine
states reporting a 35% obese population. The growing burden of obesity in the
region is expected to drive the demand for cholesterol testing, thereby
stimulating market growth. Additionally, the increasing prevalence of diseases
contributes to the demand for cholesterol testing, further propelling market growth.
According to the American College of Cardiology (ACC), individuals with
underlying cardiovascular disease have a higher mortality rate (10.5%) when
affected by COVID-19 compared to those with underlying chronic respiratory
disease (6.3%). Consequently, the rising burden of heart disease fuels the
demand for cholesterol testing and related services, leading to market
expansion. Numerous companies are implementing various strategies, including
collaborations, new product launches, and mergers and acquisitions, to maintain
and increase their market shares. For example, in September 2021, Verv
Technologies and a Sudbury-based company developed an at-home blood test that
enables users to conveniently check their cholesterol levels on their
smartphones in as little as 15 minutes. These factors collectively contribute
to the anticipated growth of the market over the forecast period.
Major companies
operating in Global Cholesterol Testing Market are:
- Abbott Laboratories
- Beckman Coulter Inc.
- Horiba Ltd.
- Nova Biomedical
- Roche Holding Ag (F.Hoffmann-La Roche Ltd.)
- Randox Laboratories Ltd.
- Siemens Healthineers Gmbh
- Sekisui Diagnostics LLC
- Sinocare Inc.
- Thermo Fisher Scientific Inc.
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“In recent years, the cholesterol test market has
observed substantial growth attributed to various factors that drive demand for
cholesterol testing services. Technological advancements have facilitated the
development of more precise, convenient, and efficient cholesterol testing
methods. Point-of-care testing devices and home cholesterol testing kits have
become increasingly accessible, providing individuals with convenient
monitoring of their cholesterol levels. These advancements have expanded the market's
reach and enhanced the user-friendliness of testing. The shift from reactive to
proactive healthcare approaches has resulted in a heightened focus on
preventive measures. Cholesterol tests play a pivotal role in preventive
healthcare strategies, enabling individuals to identify risk factors and make
informed decisions to adopt healthier lifestyles or undergo appropriate medical
interventions when necessary.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Cholesterol Testing Market Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type
(Test Kits, Test Strips, Others), By Test Type (Total Cholesterol Test,
High-Density Lipoprotein (HDL) Cholesterol, Low-Density Lipoprotein (LDL)
Cholesterol, Triglycerides/VLDL Cholesterol Test), By Prescription Mode (Over
the Counter, Prescription Based), By End User (Hospitals & Clinics,
Diagnostic Laboratories, Others), By Region and Competition”, 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.
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