Visiongain has published a new report on Addison Disease Testing Market Report to 2031: Forecasts by Testing Type (Laboratory Testing, Comprehensive metabolic panel, Thyroid-stimulating hormone (TSH) levels, ACTH stimulation test, Insulin-induced hypoglycemia test, Autoantibody testing, Prolactin testing, Imaging Studies, Chest radiograph, and Computed tomography (CT) scan) By End-User (Hospitals, Clinics, and Diagnostics Laboratories) PLUS COVID-19 Recovery Scenarios.
COVID-19 Impact on Addison Disease Testing Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the Addison Diseasetesting market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
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Market Drivers
Increasing Rate of Adrenal Insufficiency
The rising prevalence rate of adrenal insufficiency is causing the growth of the cases of Addison diseases and resulting in an upsurge in the demand for testing service. The National Organization for Rare Disorders (NORD) study stated that Addison disease affects men and women equally. Nearly 1 in 100,000 people have this disease in the U.S. The total prevalence rate is assessed to be between 40 to 60 people per million population.
The reported incidence in nations where data are accessible is 60 cases per 1,000,000 people in Denmark and 39 cases per 1,000,000 people in Great Britain annually. According to the research by Olafsson and Sigurjonsdottir, the occurrence of primary adrenal insufficiency is estimated to be 22.1 per 100,000 people in Iceland. On the other hand, in a survey by Hong et al, the occurrence of primary adrenal insufficiency is estimated to be 4.17 per 1,000,000 people in Korea. Hence, the demand for an accurate Addison disease testing tool is expected to increase on the account of the rising prevalence rate of adrenal insufficiency.
Increasing Government Initiatives in Improving the Healthcare Sector
Healthcare spending has increased drastically in the U.S. in the past few decades. As per the Journal of the American Medical Association (JAMA), healthcare expenditure in the U.S. upsurge near a trillion dollars between 1996 and 2015. The association told that healthcare expenditure in the U.S. during 2017 was around $3.5 trillion, i. e, $11,000 per person. These expenditures are projected to be $6 trillion—approximately $17,000 per person by 2027.
Market Opportunities
Public-Private Partnership (PPP) in Diagnostics Centers
The target market growth is predominantly attributed to the growing acceptance of point-of-care and quick diagnostic tests, the rising number of private diagnostic centers, and the growing awareness regarding Addison disease and initiatives taken by health organizations and government. Besides, improving healthcare infrastructure in developing countries and the increasing number of regulatory endorsements for immunoassay techniques further offer lucrative growth opportunities for the global key players operating in the Addison disease testing market. However, the shortage of skilled laboratory technicians and the high price of diagnostic imaging systems & procedures may hinder the target industry growth at a certain point.
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How the Addison Disease Testing Market report helps you
In summary, our 500+ page report provides you with the following knowledge:
- Revenue forecasts to 2031 for Addison Disease Testing Market, with forecasts for Testing Type, and End User, each forecasted at a global and regional level– discover the industry’s prospects, finding the most lucrative places for investments and revenues
- Revenue forecasts to 2031 for 5 regional and 16 key national markets – See forecasts for the Addison Disease Testing market in North America, Europe, Asia-Pacific and Rest of the World. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market– including company profiles for 10 of the major companies involved in the Addison Disease Testing Market.
Competitive Landscape
Key players operating in the global Addison Disease Testing market are Core Diagnostics Private Limited, Any Lab Test Now, Laboratory Corporation of America Holdings, Diagnostic Laboratory Services, Inc., Sonora Quest Laboratories, Dr. Lal PathLabs, Ayumetrix, and others.
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