Cholesterol Test Market
The growth of the global cholesterol test market is driven by various factors such as the increasing prevalence of cardiovascular diseases & obesity, government initiatives to improve the quality of clinical diagnostics. However, the lack of a skilled workforce is projected to hamper the growth of the global cholesterol test market.
The Cholesterol Test Market Size is expected to reach USD 11.6 billion by 2032 at 8.20% CAGR during the forecast period 2023-2032
According to recent studies, cardiovascular disease is the leading global cause of death, accounting for more than 17.6 million deaths per year in 2016, a number that is expected to grow to more than 23.6 million by 2030. The increasing incidences of obesity are driving the growth of the cholesterol test market. For instance, in 2016, 39% of adults aged 18 years and over (39% of men and 40% of women) were overweight. Globally, about 13% of the world's adult population was obese in 2016. The worldwide prevalence of obesity nearly tripled between 1975 and 2016,
Major Key Players:
Some of the Key Players are Quest Diagnostics Incorporated, Cell Biolabs, Inc., Clinical Reference Laboratory, Inc., Laboratory Corporation of America Holdings, Randox Laboratories Ltd., Thermo Fisher Scientific, PTS DIAGNOSTICS, Alere Inc., F. Hoffmann-La Roche AG, and Eurofins Scientific.
Segment Analysis
The Global Cholesterol Test Market Insights by Product Type, Test Type, Distribution Channel, and End User.
The point of care cholesterol testing market, based on product type, has been divided into test kits and test strips. The test kits segment is likely to be the largest segment during the review period due to the growing awareness and adoption of preventive healthcare.
The market, based on test type, has been divided into total cholesterol test, high-density lipoprotein (HDL) cholesterol, low-density lipoprotein (LDL) cholesterol, and triglycerides/VLDL cholesterol test. The total cholesterol test segment is likely to be the largest segment during the review period due to the growing importance of the test. A complete cholesterol test includes the calculation of four types of fats (lipids) in blood.
The market, based on distribution channel, has been divided into over the counter and prescription-based. The prescription-based segment is likely to be the largest segment during the review period.
The global cholesterol test market has been segmented, based on end user, into hospitals & clinics, homecare, diagnostic centers, and others. The hospitals & clinics segment is expected to hold the majority share of the market owing to the rising in visits of patients in the hospitals and clinics.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the rising per capita healthcare expenditure. The cholesterol test market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. As per recent studies, most (55.4%) of the Canadian adult population categorized as overweight (34.2%) or obese (21.2%). Furthermore, the prevalence of obese classes I, II, and III will increase to 14.8%, 4.4% and 2.0%, respectively.
The European cholesterol test market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. According to WHO, the obesity rate in Germany is 23.7% which means that Germany has one of the highest obesity rates in Europe, but is still behind the UK, which has a rate of 26.2 %.
The cholesterol test market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing prevalence of cardiovascular diseases and obesity, the market in Asia-Pacific is expected to be the fastest-growing. According to WHO, Obesity in China is a major health concern with overall rates of obesity between 5% and 6% for the country, but greater than 20% in some cities where fast food is popular. The cholesterol test market in the Middle East & Africa has been divided into the Middle East and Africa.
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