Endocrine Testing Market to Exceed USD 10.50 Billion by 2021
Zion Market Research, the market research group announced the analysis report titled 'Endocrine Testing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2021'
Sarasota, FL -- (SBWire) -- 12/20/2017 --Zion Market Research has published a new report titled "Endocrine Testing Market (Dehydroepiandrosterone Sulfate, Progesterone, Luteinizing Hormone, Estradiol, Human Chorionic Gonadotropin, Follicle Stimulating, Testosterone, Thyroid Prolactin, Thyroid Stimulating Hormone, Cortisol, Insulin, and Other Tests) By Technology (Monoclonal & Polyclonal Antibody Technologies, Tandem Mass Spectrometry, Immunoassay, Clinical Chemistry Technologies, and Others) for End-use Commercial Laboratories, Home-Based Tests, Ambulatory Care Centers, Hospitals and Other End-users: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021". According to the report, the global endocrine testing market was valued at around USD 7.00 billion in 2015 and is expected to reach approximately USD 10.50 billion by 2021, growing at a CAGR of around 8.5% between 2016 and 2021.
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The endocrine system is a family of glands and organs in the human body. The endocrine system consists of various glands in different parts of the body that secrete hormones directly into the blood. An optimally functioning endocrine system is essential to restoring and maintaining good health. Endocrinology blood tests to identify hormone imbalances and abnormal gland function.
The endocrine testing market is expected to exhibit exponential growth in the coming years. The market is mainly driven by increasing geriatric, diabetic, and obese population worldwide. Moreover, increasing health awareness coupled with the government initiatives has facilitated early diagnosis of endocrine disorders, which is expected to drive the market growth in the near future. Additionally, the changing lifestyles, growing stress levels, and unhealthy food habits have resulted in increased incidences of obesity and disturbed hormonal levels, which has contributed substantially towards the growth of the endocrine diagnostics market. On the other hand, the high cost of technology may hamper the market growth during the forecast period. Nonetheless, investment in research and technology is considered as a major opportunity for the growth of the global endocrine testing market.
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On the basis of test, the market can be segmented into Dehydroepiandrosterone sulfate (DHEAS), Progesterone, Luteinizing Hormone (LH), Estradiol (E2), Human Chorionic Gonadotropin (hCG), Follicle Stimulating (FSH), testosterone, thyroid prolactin, Thyroid Stimulating Hormone (TSH), cortisol, insulin, and other tests such as gastrin, thymosin, and secretin tests. In 2015, thyroid stimulating hormone (TSH) accounted for the largest market share in terms of revenue. This growth is mainly due to rise incidences of thyroid disorders and the growing awareness about the correlation between variations in the thyroid hormones levels and cardiovascular disorders. Insulin test was another key outlet of the market and is expected to show witness fastest growth in the near future.
The market is segmented on the basis of technology into monoclonal & polyclonal antibody technologies, tandem mass spectrometry, immunoassay, sensors, clinical chemistry technologies, and others. Tandem mass spectrometry held the largest share of total revenue generated in 2015. Mass spectroscopy analysis is the most recent developed technology. The sensitivity of the tests using mass spectroscopy is very high.
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The market based on end-use is classified into commercial laboratories, home-based tests, ambulatory care centers, hospitals and other healthcare settings. The commercial laboratories held the significant share in terms of revenue. This growth is attributed to advanced infrastructure coupled with skilled personnel. The home-based test segment is growing fast with the introduction of new user-friendly and cost-effective diagnostic kits. This is expected to increase the penetration of home-based tests.
The market is dominated by North America with the largest market share of total revenue generated in 2015. This growth is mainly due to the presence of well developed primary, secondary, tertiary care hospitals supported the growth in the North American region. Moreover, a favorable reimbursement, government funding, and increasing health awareness facilitated the usage of advanced techniques for endocrine testing. Asia Pacific is expected to be the fastest-growing region in the near future.
Some of the key players include Bio Rad Laboratories, DiaSorin, Hoffmann-La Roche Ltd., LabCorp, and Quest Diagnostics, Abbott Laboratories, AB Sciex, Agilent Technologies, Biomedical Technologies, bioMerieux SA.
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