Endocrine Testing Market Size – USD 8.03 Billion in 2018, Market Growth - CAGR of 8.1%, Endocrine Testing Industry Trends – Product launches and research for advanced and precise Endocrine Testing
New York, Dec. 02, 2019 (GLOBE NEWSWIRE) -- Increasing incidence of diabetes, thyroid, sedentary lifestyle, increasing government support, growing healthcare awareness and obesity are key factors contributing to high CAGR of Endocrine Testing Market during forecast period.
The Global Endocrine Testing market was valued at USD 8.03 billion in 2018 and is expected to reach USD 15.09 billion by year 2026, at a CAGR of 8.1%. Endocrine testing involves examining urine or blood samples to detect the concentration of endocrinal hormones such as thyroid, diabetes, Cushing syndrome, etc. Technological Advancements in terms of accuracy, affordability, cost-effectiveness, and introduction of easy-to-operate test kits have facilitated the penetration of home-based diagnostics. Key market players today are focusing on investing in launching innovative products, thereby increasing their market footprint in the endocrine testing market.
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Increasing incidence of diabetes, sedentary lifestyle, growing healthcare awareness, increasing government support & obesity are some of the key factors projected to surge the demand for Endocrine testing, thereby propelling the market growth. Furthermore, a high prevalence of hyperthyroidism, hypothyroidism, and rising geriatric population are some of the key factors responsible for fueling market growth.
In context to regional analysis, the North American region dominated the market in 2018 and is expected to maintain its lead during the forecast period while the Asia Pacific region is projected to witness the fastest growth with a CAGR of 9.1% during the forecast period.
Further key findings from the report suggest
- Various market players are engaged in developing new products. For instance, Helmholtz Zentrum München allied with Eli Lilly and Company to discover new targets for pancreatic beta cell regeneration in the treatment of diabetes
- Sensors Segment is expected to witness lucrative growth with a CAGR of 8.6% during the forecast period
- As of 2018, Tandem Mass Spectrometry segment dominated the market with a market share of 33.9% and is expected to maintain its lead due to its increasing use in combination with liquid chromatography which aids in overcoming challenges associated with traditional techniques in Endocrine testing
- The Insulin test segment is expected to register fastest growth with a CAGR of 8.8% during the forecast period
- The thyroid Stimulating hormone (TSH) segment is prophesied to dominate the global Endocrine testing market with a share of 0%
- In the End-use, hospital users accounted for largest market share and is expected to be seen leading in the upcoming years
- The North American region dominated the global endocrine testing market in in terms of revenue generation with a share of 3%
- The Asia Pacific region is projected to be the fastest growing regional market with a CAGR of 9.1%. The factors fostering the market growth are increasing investments in Research and development by key private companies and government to improve diagnostic and therapeutic areas in the region
- Europe is the second largest region in terms of capturing the market share.
- Key participants include AB Sciex, Abbott Laboratories, Beckman Coulter, bioMerieux SA, BioRad Laboratories, Biomedical Technologies, Agilent Technologies, Quest Diagnostics, Diasorin, Hoffmann- La Roche Ltd., Thermo Fisher Scientific, Quest Diagnostics and Siemens Healthineers.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/endocrine-testing-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Endocrine Testing market on the basis of Test type, Technology type, End-use, and region:
Test Type (Revenue, USD Million; 2016–2026)
Technology Type (Revenue, USD Million; 2016–2026)
- Tandem Mass Spectrometry Immunoassay
- Monoclonal & Polyclonal antibody technologies
- Sensor technology
- Clinical chemistry
End Use (Revenue, USD Million; 2016–2026)
- Commercial Laboratory
- Ambulatory Care Centres
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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