Global Cholesterol Test Kits Market is estimated to be US$ 513.3 Million by 2029 with a CAGR of 2.3% during the forecasted period.


Posted July 21, 2021 by amaryadav1999

The global cholesterol test kits market accounted for 413.5 Million in 2020 and is estimated to be US$ 513.3 Million by 2029 and is anticipated to register a CAGR of 2.3%.

 
The global cholesterol test kits market accounted for 413.5 Million in 2020 and is estimated to be US$ 513.3 Million by 2029 and is anticipated to register a CAGR of 2.3%.

The report "Global Cholesterol Test Kits Market, By Product Type (Test Strip Kits, and Analyzer Kits), By Test (Total Cholesterol Test, HDL Cholesterol Test, LDL Cholesterol Test, Triglycerides/VLDL Cholesterol Test, and Others), By End-user (Clinics, Hospitals, Ambulatory Surgical Centers, Home Care Settings, and Diagnostic Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In September 2017, Quest Diagnostics introduced a novel, non-fasting cholesterol testing with improved LDL calculation method for improved accuracy and patient comfort.
In December 2018, 3M acquires M*Modal's tech arm the move enhances 3M's portfolio with the addition of cloud-based artificial intelligence and speech recognition technology. The deal, expected to close in early 2019, will add 750 employees of M*Modal's technology business. The Pittsburgh-based company, which spun off from Carnegie Mellon University will maintain its transcription, scribing and coding services business.
Analyst View:

Rise in prevalence of cardiovascular diseases

Rising prevalence of cardiovascular diseases and obesity is expected to significantly fuel the demand for cholesterol testing products and services. Population above 18 years of age is recommended to undergo blood cholesterol testing every five years. Patients with a history of heart attacks require cholesterol screening on a regular basis to monitor the effectiveness of their treatment. As recommended by the National Heart, Lung, and Blood Institute, cholesterol testing should be done at least once between the age of 9 to 11 and 17 to 21. According to the Centers for Disease Control and Prevention (CDC), adults between the ages of 40 to 59 have the highest level of total cholesterol, which is 17.1%. This is mainly attributed to the sedentary lifestyle leading to the development of numerous diseases, such as obesity, diabetes, and heart diseases. Increased awareness regarding routine testing and management of healthy cholesterol levels is anticipated to drive the demand for diagnostic products and services.

Increasing geriatric population

The aging population is increasing worldwide, with the most rapid growth in low- and middle-income countries. About 185 million people were above 60 years of age in 2015 (15.7% of the population), and this number is expected to touch 487 million by 2053 (36.5% of the population). Moreover, around 857,040 of the older population is likely to reside in Asia by 2050. In 2016, approximately 18% and 2.4% of the total population in the UK were aged over 65 years and 85 years, respectively.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Cholesterol Test Kits Market”, By Product Type (Test Strip Kits, and Analyzer Kits), By Test (Total Cholesterol Test, HDL Cholesterol Test, LDL Cholesterol Test, Triglycerides/VLDL Cholesterol Test, and Others), By End-user (Clinics, Hospitals, Ambulatory Surgical Centers, Home Care Settings, and Diagnostic Centers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global cholesterol test kits market accounted for 413.5 Million in 2020 and is estimated to be US$ 513.3 Million by 2029 and is anticipated to register a CAGR of 2.3%. The market report has been segmented on the basis of product type, test, end-user and region.

Depending upon product type, the analyzer kits segment is projected to grow at highest CAGR over the forecast period. The cholesterol test kit is a convenient and effective way to test cholesterol levels. It allows the monitoring of cholesterol without visiting the doctor. And, rather than waiting days or weeks for cholesterol, these test kits give results in minutes.
Depending on the test, the total cholesterol test segment is projected to grow at highest CAGR over the forecast period.
Depending upon the end-user, the diagnostic centers segment is projected to grow at highest CAGR over the forecast period owing to the rising number of people being diagnosed with high total cholesterol. In addition, regular health checkups without the doctors’ intervention are also a high impact-rendering driver for the segmental growth.
By region, North America held the largest revenue share in 2018 due to the rise in prevalence of heart diseases and obesity in the U.S. According to the United Health Foundation's annual report, in the U.S., the obesity rate increased from 29.9% in 2017 to 31.3% in 2018. In addition, the growing preference for preventive healthcare is also projected to drive regional growth.
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Competitive Landscape:

The prominent player operating in the global cholesterol test kits market includes 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., Hoffmann-La Roche AG, and Eurofins Scientific.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered

Introduction
Study Deliverables
Study Assumptions
Scope of the Study
Research Methodology
Executive Summary
Opportunity Map Analysis
Market at Glance
Market Share (%) and BPS Analysis, by Region
Competitive Landscape
Heat Map Analysis
Market Presence and Specificity Analysis
Investment Analysis
Competitive Analysis
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Last Updated July 21, 2021