Portland, OR, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Cholesterol Test Market garnered $8.5 billion in 2021, and is estimated to generate $18.4 billion by 2031, manifesting a CAGR of 8.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8.5 billion |
| Market Size in 2031 | $18.4 billion |
| CAGR | 8.0% |
| No. of Pages in Report | 204 |
| Segments covered | product type, test type, end user, and region |
| Drivers | Rise in consumption of carbohydrate-based foods, packaged foods, poor eating habits, and unhealthy lifestyle among young generation as well adults |
| Increase in the geriatric population | |
| Opportunities | Growth & innovations in the pharmaceutical industry for the manufacturing of cholesterol kit |
| Restraints | Some medications, including beta-blockers and diuretics that are used to treat high blood pressure, steroids, hormone replacement therapy, and birth control pills, can elevate cholesterol levels and influence the results of cholesterol tests |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global cholesterol test market, as the majority of blood test centers experienced a broad spectrum of difficulties, and most were affected especially the second wave of the pandemic.
- Samples arriving at test centers and the availability of laboratory equipment and reagents were disrupted due to postal delays & flight cancellation. Owing to infection, quarantine, or relocation within the healthcare facility, availability of laboratory staff was occasionally limited. Home sample collection, second-tier tests, and follow-ups were all impacted. Only a few centers were able to keep their cholesterol test programs fully operational.
- However, the market witnessed a recovery in 2021, and is expected to show stable growth in the coming future.
The research provides detailed segmentation of the global cholesterol test market based on product type, test type, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the test kits segment held the highest share in 2021, accounting for more than two-fifths of the global cholesterol test market, and is expected to continue its leadership status during the forecast period. However, the test strips segment is expected to register the highest CAGR of 9.0% from 2022 to 2031.
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Based on test type, the total cholesterol test segment accounted for the highest share in 2021, contributing to more than two-fifths of the global cholesterol test market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 8.9% from 2022 to 2031.
Based on end user, the diagnostic centers segment accounted for the highest share in 2021, holding more than half of the global cholesterol test market, and is expected to continue its leadership status during the forecast period. However, the others segment is estimated to grow at the highest CAGR of 9.4% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than two-fifths of the global cholesterol test market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.9% during the forecast period.
Leading market players of the global cholesterol test market analyzed in the research include Danaher Corporation, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Abbott Laboratories, Randox Laboratories Limited, thermo fisher scientific, Abcam plc., PerkinElmer, Inc., Diazyme Laboratories, Inc., Fujifilm Holding Corporation.
The report provides a detailed analysis of these key players of the global cholesterol test market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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