NEWARK, Del, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The global cholesterol and lipid test market value is anticipated to expand from US$ 3.0 billion in 2024 to US$ 6.2 billion by 2034. Over the assessment period, demand for cholesterol and lipid test products is set to rise at a 7.6% CAGR.
The cholesterol and lipid test industry is expanding rapidly as a result of rapid technological improvements and extensive cholesterol and lipids testing research & development. Similarly, the growing incidence of cardiovascular diseases will likely drive demand for cholesterol and lipid tests.
In recent years, there has been a spike in cases of cardiovascular diseases such as peripheral artery disease and coronary heart disease, which are linked to high cholesterol levels. This necessitates regular cholesterol testing for identifying individuals at risk, thereby driving demand for cholesterol and lipid test products.
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Cholesterol and lipid tests allow for early detection and monitoring of cardiovascular disease risk. The rising preference of people toward opting for these tests is expected to boost the growth of the global cholesterol and lipid test market.
The expansion of the cholesterol and lipids testing sector is also being fuelled by the companies' creative product advancements and development facilities. Since customers are not using cholesterol and lipid tests to their full potential due to consumer ignorance, businesses introducing portable cholesterol and lipid testing equipment can greatly enhance the usability of cholesterol and lipid testing.
Manufacturers are releasing portable and wearable devices with cutting-edge features such as Bluetooth connectivity, built-in ECG monitors, fitness trackers, and several other capabilities. This is expected to fuel demand for cholesterol and lipids testing tools during the assessment period.
Key Takeaways from the Cholesterol and Lipid Test Market Study-
- The global cholesterol and lipid test industry is set to reach US$ 6.2 billion by 2034.
- Based on product, the analyzer kits segment held around 71.4% market share in 2023.
- By test type, the total cholesterol test segment is expected to rise at a 6.0% CAGR.
- By application, the hyperlipidemia category is poised to exhibit a CAGR of 6.9%.
- Based on end-users, the hospitals segment accounted for about 28.1% of the market share in 2023.
- North America dominated the global market with a market share of 31.9% in 2023.
- The United States is projected to register a CAGR of 6.4% CAGR through 2034.
- Demand in China is predicted to increase at a 6.8% CAGR between 2024 and 2034.
“Growing prevalence of cardiovascular diseases, rising initiatives to promote a healthy lifestyle, and increasing awareness about the importance of cholesterol and lipid management are anticipated to foster the growth of the cholesterol and lipid test market during the assessment period,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape from the Cholesterol and Lipid Test Market:
Key cholesterol and lipid test product manufacturers employ different strategies to boost their sales and expand their global footprint. These include new product launches, acquisitions, mergers, partnerships, and collaborations. Several companies are producing new cholesterol testing assay kits and reagents for quick and easy diagnosis.
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Recent Development in the Cholesterol and Lipid Test Market:
- In January 2022, CallonDoc released their latest at-home testing kits for the detection of several ailments, including thyroid issues, STDs, diabetes, liver, kidney, and cholesterol issues.
Top Players from the Cholesterol and Lipid Test Market:
- Abbott Laboratories
- AstraZeneca
- LivaNova
- Boston Scientific Corporation.
Get More Insights into Cholesterol and Lipid Test Market Report
Future Market Insights (FMI) offers a unique perspective and actionable insights on the cholesterol and lipid test market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global cholesterol and lipid test industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on product (test strip kits and analyzer kits), test type (total cholesterol test, HDL cholesterol test, LDL cholesterol test, triglycerides/VLDL cholesterol test, and others), application (hyperlipidemia, hypertriglyceridemia, hyperlipoproteinemia, tangier disease, familial hypercholesterolemia, and others) and end-user (clinics, hospitals, ambulatory surgical centers, homecare settings, and diagnostic centers), across seven regions of the world.
Cholesterol and Lipid Test Market Segments
By Product:
- Test Strip Kits
- Analyzer Kits
By Test Type:
- Total Cholesterol Test
- HDL Cholesterol Test
- LDL Cholesterol Test
- Triglycerides/VLDL Cholesterol Test
- Others
By Application:
- Hyperlipidemia
- Hypertriglyceridemia
- Hyperlipoproteinemia
- Tangier Disease
- Familial Hypercholesterolemia
- Others
By End-user:
- Clinics
- Hospitals
- Ambulatory Surgical Centers
- Homecare Settings
- Diagnostic Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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About the Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
Have a Look at the Related Report from the Cholesterol and Lipid Test Market:
Cholesterol Monitors Market is anticipated to be valued at US$ 2,660.3 million. The cholesterol monitors industry is expected to expand at a 7.3% CAGR from 2023 to 2033 and is likely to generate US$ 5,379.2 million.
Cholesterol API Market size is expected to reach a valuation of US$ 280.6 million in 2023, and further expand at a CAGR of 4.7% during the forecast period from 2023 to 2033.
HDL Cholesterol Kits Market are slated to top US$ 568.1 Million in 2022. Expanding at a healthy 4.8% CAGR, the market size is projected to total US$ 786.2 Million by 2029.
Point-of-care Cholesterol Monitoring Device Market was valued at US$ 428.8 Mn in 2021 and is expected to reach US$ 514.7 Mn by 2028, finds Future Market Insights (FMI) in a recent market survey.
Cryptococcal Antigen Lateral Flow Assay Test Market was valued at around US$ 688.19 Million at the end of 2021. The market is projected to register a 3.73% CAGR and top a valuation of US$ 713.85 Million by 2032.
Authored by:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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