International Endocrine Testing Market 2022 to 2030 Report: Key Gamers Embody Agilent Applied sciences, Bio-Rad Laboratories, Biomerieux and Diasorin – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Endocrine Testing Market Analysis Report, By Test Type (hCG, FSH, TSH, Insulin), By Technology (Mass Spectroscopy, Immunoassay), By End-User, and Segment Forecasts, 2022-2030” report has been added ResearchAndMarkets.com Offer.

The global endocrine testing market is expected to reach $4.79 billion by 2030. The market is expected to register a CAGR of 8.31% from 2022 to 2030.

The increasing prevalence of lifestyle diseases such as obesity associated with diabetes and thyroid disease in adults and the geriatric population is driving the need for endocrine testing. The routine endocrine testing in individuals contributes to overall health maintenance and hence this awareness of better health contributes significantly to the growth of the global endocrine testing market.

According to WHO statistics, more than 39 million children under the age of 5 were overweight or obese in 2020. Sedentary life along with unhealthy eating habits have contributed to obesity as well as diabetes in the general population. This emergence of disease states has also prompted much research into metabolic functions and related hormonal disorders.

Funding from government and private organizations has also propelled the scientific community forward. For example, NIH’s National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) drives many sponsored research programs to improve health through a better understanding of disease.

One of these NIDDK efforts was the September 2022 Mid-Atlantic Symposium on Diabetes and Obesity Research. This will enable scientific knowledge sharing and interactions, and enable collaboration at a regional level. Such initiatives will advance the understanding of the endocrine function in the human body and further fuel the growth of the endocrine testing market.

The lack of awareness in underdeveloped and developing countries is expected to slow down the growth of the endocrine testing market. The developing healthcare facilities and lack of reimbursement models prevent individuals in these regions from undergoing routine endocrine testing. However, with growing awareness of a healthy system during the COVID-19 pandemic, testing frequency is expected to increase for these countries as well.

The outbreak of COVID-19 has created lucrative opportunities for the use of endocrine testing. COVID-19 infections cause a systemic disease that damages many organs. Therefore, these patients have many metabolic and hormonal disorders, which led to an increase in the number of endocrine researches.

For example, in March 2021, members of the Endocrine Society approved $10 billion in support of COVID-19 research to identify and understand the short- and long-term effects of COVID-19 on the endocrine system. Similarly, in September 2020, the American Diabetes Association invested $1 million to fund various research projects to study the link between diabetes and COVID-19. This will increase demand and further boost market growth.

In addition, the restrictions on movement and restrictions due to the lockdown promoted the digital platform for medical consultation and sampling services at home. The availability of point-of-care devices and kits for testing hormone levels at home is also driving the overall growth of the endocrine testing market.

Market players are also expanding their regional footprints owing to various factors that are expected to make the Endocrine Testing Market grow. Collaboration, partnerships, and global expansion are some of the key players’ business strategies to drive revenue generation.

For example, in February 2022, Laboratory Corporation of America Holdings (Labcorp) announced the opening of a new laboratory in Indiana, USA. The new diagnostics business in South Bend, Indiana, will enhance the company’s services and make its offerings accessible to both patients and physicians in the region.

Highlights of the Endocrine Testing market report

  • By test type, human chorionic gonadotropin (hCG) hormone test accounted for the largest share in 2021, due to the presence of self-test kits in pharmacies, as well as tests in laboratories or hospitals for quantitative assessment. In addition, the frequency of testing at different weeks of pregnancy and the high number of fertile female populations are also the contributing factors.

  • Technically, the immunoassay dominated the 2021 market due to the presence of instruments from key players using immunoassay-based detection techniques. The large number of instruments and test panels relying on immunoassay technology is driving the growth of the endocrine testing market.

  • After end users, commercial laboratories were the major contributors to revenue generation in 2021. The feasibility and availability of a variety of endocrinology and reproductive function testing panels, services such as home collection, and the presence of digital platforms resulted in an increased segment share.

  • North America recorded the highest revenue for the endocrine testing market in 2021. This is attributed to the high prevalence of thyroid disease, diabetes and obesity in the US population. In addition, the developed healthcare and increased spending behavior in this region led to higher revenue generation.

market dynamics

driver

  • Growing prevalence of diabetes, obesity and geriatric population

  • Increasing demand for home health care and awareness of routine testing

  • Development of technologies for endocrine testing

  • Increasing investment in research activities to understand diseases

restrictions

  • Lack of trained professionals

opportunities

  • Development and progress in detection technology

companies mentioned

  • Abbott Laboratories

  • Agilent Technologies Inc.

  • Bio-Rad Laboratories, Inc.

  • Biomerieux Sat

  • Diasorin SPA

  • F. Hoffmann-La Roche AG

  • Holdings of Laboratory Corporation of America

  • Orthoclinic diagnostics

  • Quest Diagnostics Incorporated

  • Danaher

  • AB Science

For more information about this report, visit https://www.researchandmarkets.com/r/2a1gjd

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