The Global Market for Cholesterol Screening and Lab Testing Services is Projected to Reach US$17.4 Billion by 2024
Growing Risk of
Cardiovascular Disease Amid Surge in Obesity, Diabetes and Hypertension Cases Drives
the Global Cholesterol Testing Market, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segment, trends, growth drivers,
market share, size and demand forecasts on the global Cholesterol Testing
market. The global market for Cholesterol
Screening and Lab Testing Services is projected to reach US$17.4 billion by 2024, driven by rising
prevalence of Cardiovascular Diseases amid growing incidence of obesity, diabetes,
and hypertension, and ageing population.
Cholesterol
is a naturally occurring white crystalline lipid that is generally present in human
body. Synthesized by the liver, cholesterol plays a crucial role as a vital
constituent of cell membranes and is required for the production of steroid
hormone and bile acids. Although, cholesterol is vital for proper functioning
of the body, excess levels of cholesterol, found mainly as low-density
lipoprotein (LDL), pose a health risk. Also known as ‘bad’ cholesterol, LDL is
a known risk factor for cardiovascular diseases (CVDs) such as coronary heart
disease, rheumatic heart disease, stroke and high blood pressure (hypertension).
Given the fatal impact of CVDs, cholesterol screening tests are a compulsion
for people deemed to be at risk of these diseases. Different types of tests are
carried out to quantify the level of cholesterol such as Complete Lipid Profile
/ Lipid Panel Test, Apolipoprotein B, and Apolipoprotein A1 among others.
Demand
for cholesterol screening and lab testing services continues to increase across
the world, primarily stimulated by growing awareness over the importance of cholesterol
screening as a measure to reduce fatality and improve diagnosis and treatment
of CVD. Pressing need for regular cholesterol testing among people with family history
of heart disease, individuals with diabetes and obesity, and aged people, who are
regarded to be at the risk of cardiovascular disease, is aiding the demand for
cholesterol testing. Further, cholesterol testing market is also benefiting
from prevailing macro trends in the global healthcare sector such as increasing
healthcare expenditure, wider availability of care/diagnostics services,
growing health-consciousness and lenience towards preventive care among urban
population. While the number of patients seeking cholesterol screening based on
doctor’s recommendation continues to grow substantially, volumes of
consumer-initiated tests also saw incremental growth in recent years. Uptrend
in cholesterol testing is immensely benefiting the commercial diagnostics
centers, hospitals with in-house laboratories, and other entities offering diagnostics
services. On the other hand, growing popularity of self-testing home kits,
which can be operated by patient himself to precisely generate cholesterol
levels, is niggling the market prospects of full-service diagnostics services
providers.
As stated by the new market research report on Cholesterol Testing, United States ranks as the largest market, worldwide. On the other
hand, Asia-Pacific represents the fastest growing regional market, trailing at
a CAGR of 13.3% over the analysis period. Rising disposable incomes, coupled
with increasing urbanization, growing health consciousness, aging population,
and awareness of the need for cardiovascular risk assessments are fuelling
demand for cholesterol screening services in the Asia-Pacific region. The
market is also benefiting from focused investments on improving healthcare infrastructure
and growing base of at-risk population in China and India.
Key
players in the market include Abbott Laboratories, AccuTech LLC, Akers
Biosciences Inc., Alere Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc.,
Boston Heart Diagnostics Corporation, Eurofins Scientific, Home Access Health
Corporation, Laboratory Corporation of America® Holdings, PRIMA Lab SA, PTS
Diagnostics, Quest Diagnostics Inc., Randox Laboratories Ltd., Roche
Diagnostics, Sekisui Diagnostics LLC, Siemens Healthineers, and Sigma-Aldrich
Corp. among others.
The
research report titled “Cholesterol Testing: A
Global Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates
and projections in dollars for all major geographic markets such as the US,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America
(Brazil, and Rest of Latin America), and Rest of World.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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