The global endocrine testing market size was valued at USD 6.5 billion in 2015 and is expected to grow at a CAGR of 8.0% over the forecast period. Rising incidences of endocrine disorders, which lead to a hormonal imbalance in individuals, such as in cases of hyperthyroidism and adrenal insufficiency; these disease conditions boosted the demand for endocrine testing. The growing base of the geriatric, diabetic, and obese population worldwide is expected to promote the market growth. Additionally, the rising health awareness with the aid of government initiatives facilitated early diagnosis of endocrine disorders, which contributed substantially towards the growth of the endocrine diagnostics market.
North America endocrine testing market share, by technology, 2013 - 2024 (USD Million)
The changing lifestyles, growing stress levels, and unhealthy food habits result in increased incidences of obesity and disturbed hormonal levels, which account for an increase in the demand for diagnostic kits.Additionally, the rampant rise in the disorders of the endocrine system, such as hypothyroidism or hyperthyroidism cases has contributed significantly to creating a demand for advanced diagnostic technology.
The technological advancements in endocrine testing aided the overall industry growth. For instance, the introduction of easy-to-operate test kits facilitated the penetration of home-based diagnosis, which is user-friendly and cost-effective. Moreover, the target of this market is the geriatric population owing to its increased susceptibility to chronic diseases and the high risk ofdeveloping complications at an older age, which makes continuous monitoring essential in these elderly patients.
The market is segmented on the basis of test types in Estradiol (E2), Human Chorionic Gonadotropin (hCG), Follicle Stimulating (FSH), Dehydroepiandrosterone sulfate (DHEAS), Progesterone, Luteinizing Hormone (LH), testosterone, thyroid prolactin, Thyroid Stimulating Hormone (TSH), cortisol, insulin, and other tests such as gastrin, thymosin,and secretin tests.
Thyroid stimulating hormone test accounted for a lucrative share in 2015, which can be attributed to the increasing incidences of TSH-related disorders and the growing awareness about the correlation between variations in the thyroid hormones levels and cardiovascular disorders.
On the other hand, insulin test is anticipated to witness a lucrative growth over the forecast period. The substantial rise in the diabetic population and the growing awareness about diagnosis are anticipated to contribute towards the growth.
Key technology segments are tandem mass spectrometry, immunoassay, monoclonal & polyclonal antibody technologies, sensors, clinical chemistry technologies, and others such as Liquid Chromatography with Mass Spectrometry (LC-MS).
The tandem mass spectrometry is the fastest growing segment as tandem mass spectrometry in combination with liquid chromatography is getting an edge over the traditional techniques used for endocrine testing, as results provided by LC-MS are very specific with high throughput capabilities.
The market based on end-use is segmented into hospitals, commercial laboratories, ambulatory care centers, and other healthcare settings. The commercial laboratories accounted for a significant share in 2015. The availability of advanced infrastructure coupled with skilled personnel contributed towards the lucrative growth of this segment.
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.
Geographically, the endocrine testing market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. The presenceof well-developed primary, secondary, tertiary care hospitals supported the growth in the North American region. Moreover, a well-developed reimbursement network, favorable government funding, and increasing health awareness facilitated the usage of advanced techniques for endocrine testing.
Asia Pacific is expected to witness substantial growth over the forecast period. Unmet needs and the developing healthcare network in this region attributed towards market growth in this region.As per the WHO statistics, the prevalence rates of overweight and obesity problems in India and Australia are5.0% and 60.0% respectively. The prevalence in China is almost 200% as compared to Australia in the past 20 years, which is further anticipated to drive the demand substantially over the forecast period.
The major share of the endocrine testing market share is held by companies such as Abbott Laboratories, AB Sciex, Agilent Technologies, Biomedical Technologies, bioMerieux SA, Bio Rad Laboratories, DiaSorin, Hoffmann-La Roche Ltd., LabCorp, and Quest Diagnostics.
The players are actively involved in launching technologically advanced products and initiate collaborative developments to sustain themselves in the competition.For instance, LabCorp offers all-embracing solutions on clinical trials pertaining to diabetes and all other hormonal diseases. The company also provides liquid chromatography in combination with mass spectrometry to yield specific results even with minimal amounts of the hormonal sample.
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