Rising prevalence of lifestyle-based diseases coupled with increasing geriatric population with high susceptibility towards developing chronic diseases such as cancer and kidney disorders are some major factors driving the metabolic testing market. Furthermore, technological advancements such as the introduction of digital metabolic rate testing equipment and rapidly increasing healthcare expenditure levels are also expected to fuel the market growth during the forecast period.
The metabolic testing market is segmented on the basis of technologies, products, applications, and end-user segments. On the basis of technology, the market is segmented into RMR analysis, VO2 max analysis, and body composition analysis. The VO2 max analysis segment attributes the largest share of the market. It directly measures the body oxygen consumption, which other tests try to estimate. On the basis of products, the market is divided into metabolic carts, CPET systems, ECGs and EKGs, software and body composition analyzers. The metabolic testing market on the basis of application is segmented into critical care, dysmetabolic syndrome X, human performance testing, lifestyle diseases, and other metabolic disorders. On the basis of end-use, the market is segmented into laboratories, hospitals, gyms, and sports training centers.
Geographically, the metabolic testing market is segmented into North America, Asia Pacific, Europe, and RoW. As of 2013, North America dominated the metabolic testing market. The rising prevalence of lifestyle diseases is a key factor driving the metabolic testing market in this region. Asia Pacific is expected to register the fastest growth in the market due to increasing healthcare spending, growing demand for quality medical care, a rising standard of living, favorable government initiatives, and growing patient awareness levels. The rise in the geriatric population, sedentary modern generation adopted the lifestyle and increasing incidences of metabolic disorders are also expected to drive regional market growth.
Sustainability strategies such as collaboration, acquisitions, and expansions in an attempt to capitalize on the available opportunities are adopted by market participants. Some key players in the metabolic testing market include Microlife Medical Home Solutions, Inc., Parvo Medics, AEI Technologies, Inc., KORR Medical Technologies, Inc., OSI Systems, Inc., General Electric Company, Geratherm Medical AG, CORTEX Biophysik GmbH, COSMED, MGC Diagnostic Corporation, and CareFusion Corporation.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.