According to the latest report by IMARC Group, titled “Endocrine Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on endocrine testing market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global endocrine testing market size reached US$ 9.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.3 Billion by 2027, exhibiting a growth rate (CAGR) of 8.08% during 2022-2027.
Endocrine testing assists in detecting a hormonal imbalance in the body, which may lead to the development of different chronic conditions. It is advised by doctors to measure hormonal levels and diagnose hormonal-related disorders. These disorders are generally tested via venous sampling, fine-needle aspiration (FNA), radioactive iodine scan (RAI), positron emission test (PET), magnetic resonance imaging (MRI), ultrasound, and computerized tomography (CT). The demand for endocrine testing is escalating around the world on account of the growing prevalence of endocrine-related disorders like gigantism, hypothyroidism, hyperthyroidism, Cushing’s disease, and adrenal insufficiency.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Endocrine Testing Market Trends:
The rising health consciousness among individuals about the benefits of timely testing represents one of the key factors strengthening the growth of the market. It aids in minimizing the risk of developing complications or aggravating the disorder. Apart from this, the growing geriatric population is also driving the market. Moreover, with the outbreak of the coronavirus disease (COVID-19) pandemic, endocrine testing is being widely used to diagnose hyperglycemia in patients. The introduction of innovative test kits equipped with biosensors that provide cost-effective and user-friendly home-based diagnosis is also impelling the market growth. Furthermore, laboratories, diagnostic centers, and healthcare centers are relying on technologically advanced liquid chromatography with mass spectrometry (LC-MS) techniques to offer precise and accurate results. This, in confluence with improvements in the healthcare infrastructure, is propelling the market growth.
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Competitive Landscape with Key players:
The competitive landscape of the industry has also been examined with some of the key players.
- Abbott Laboratories
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- BioMerieux SA
- DiaSorin S.p.A.
- Hoffmann-La Roche AG (Roche Holding AG)
- Laboratory Corporation of America Holdings
- Quest Diagnostics Incorporated
- Thermo Fisher Scientific Inc
Global Endocrine Testing Market Segmentation:
Our report has categorized the market based on region, test type, technology and end-use.
By Test Type:
- Thyroid Test
- Insulin Test
- Human Chorionic Gonadotropin Test
- Prolactin Test
- Luteinizing Hormone Test
- Progesterone Test
- Tandem Mass Spectroscopy
- Sensor Technology
By End Use:
- Ambulatory Care Centers
- Clinical Laboratories
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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