Endocrine Testing Market: Rise in Geriatric Population Worldwide to Propel Global Market Growth
Transparency Market Research (TMR) () has published a new report titled, ‘Endocrine Testing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global endocrine testing market was valued at US$ 5.5 Bn in 2018 and is projected to expand at a CAGR of 6.4% from 2019 to 2027.
Overview
Endocrine system is made up of endocrine glands that secrete hormones directly into the blood stream. Tests are performed to monitor levels of endocrine hormones (such as follicle stimulating hormone (FSH), Luteinizing Hormone (LH), estradiol, insulin and others) from biological samples. These tests aid in detection of deviation in the hormone production i.e. they help detect either hypersecretion (excess secretion) or hyposecretion (less secretion) that results in certain endocrine disorders such as infertility, menopause, thyroid dysfunction and others.
The Endocrine Testing market is currently booming one, owing to consistent rise in diabetic and obese population resulting in development of several health disorders thereby enhancing the growth and acceptance of endocrine test kits and methodologies. Moreover, endocrine test kit manufacturers are focusing on the development of efficient diagnostic test kits of high accuracy which are the factors anticipated to drive the growth of market.
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North America dominates the global endocrine testing market in 2018 and the trend is anticipated to continue during the forecast period. The growth of market in the region is attributed to increasing obesity and changing lifestyle and less physical inactivity resulting in several endocrine disorders., Also, increasing incidences of diabetes worldwide followed by constant technological upgradation in testing further propel the growth and adoption of endocrine testing platforms.
Asia Pacific is likely to be a highly lucrative market for the Endocrine Testing market and it is expected to expand at a high CAGR during the forecast period. Vast patient pool, increasing healthcare expenditure and demand for newer advanced therapies are key factors likely to boost endocrine testing market in Asia Pacific.
Rise in Prevalence of Endocrine and Metabolic Disorders to Drive Global Endocrine Testing Market
Disorders such as hypothyroidism, hyperthyroidism, diabetes mellitus, polycystic ovary syndrome (PCOS) among others are the most common endocrine & metabolic disorders among the global population. Thus, surge in number of people of above-mentioned conditions is anticipated to drive the growth of market.
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Thyroid Stimulating Hormone (TSH) Test Segment to Dominate Endocrine Testing Market
In terms of type, the global endocrine testing market has been segmented into Estradiol (E2) Test, Follicle Stimulating Hormone (FSH) Test, Human Chorionic Gonadotropin (hCG) Test, Luteinizing Hormone (LH) Test, Dehydroepiandrosterone sulfate (DHEAS) Test, Progesterone Test, Testosterone Test, Thyroid Stimulating Hormone (TSH) Test, Prolactin Test, Cortisol Test, Insulin Test and Others (Gastrin, Thymosin, Secretin, etc.). Demand for Thyroid Stimulating Hormone (TSH) Test is anticipated to rise during the forecast period, as Thyroid disease is the most common in the general population, with its prevalence increasing with age and laboratory measurement of serum TSH is an essential tool for diagnosing and managing various thyroid disorders, This in turn would drive the growth of segment.
Clinical Chemistry Technology segment to dominate the Endocrine Testing Market
In terms of technology, the global endocrine testing market has been segmented into Tandem Mass Spectrometry, Immunoassay technologies, Monoclonal and Polyclonal Antibody Technologies, Sensor Technologies, Clinical Chemistry Technologies and Others. Demand for Tandem Mass Spectrometry is anticipated to rise majorly due to the growing use of tandem mass spectrometry in combination with chromatography technique to overcome the challenges connected with old traditional techniques used for endocrine testing. Sensor technology is expected to be the fastest growing technology during the forecast period due to the rise in use of biosensors for diagnosis at home.
Commercial Laboratories Segment to be the Fastest Growing in the Endocrine Testing Market
In terms of End User, the global endocrine testing market has been segmented into Hospitals, Commercial Laboratories, Ambulatory Care Centers, Home Based tests and Physician Offices. The commercial laboratories is the anticipated to be the fastest growing segment due to the availability of technologically advanced products for the rapid test results contributing to the growth of the segment.
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North America to Dominate Global Endocrine Testing Market
In terms of region, the global Endocrine Testing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Endocrine Testing market in 2018, followed by Europe.
North America accounted for major share of the global Endocrine Testing market in 2018. High disease prevalence, supportive healthcare and payer infrastructure, and hub for key industry players are the major drivers of the endocrine testing market in the region.
The Endocrine Testing market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Unmet medical needs, untapped nature of the market, increase in awareness about diseases such as PCOS, Thyroid disorders and improving health care infrastructure are the key factors for endocrine testing market growth in the region
Competitive Landscape
The global endocrine testing market is fragmented in terms of number of players. Key players in the global Endocrine Testing market include Agilent Technologies, F-Hoffmann La Roche Ltd., AB SCIEX, and Thermo Fisher Scientific, Abbott Laboratories, Bio-Rad Laboratories, DiaSorin S.p.A, Beckman Coulter Inc, Siemens Healthineers and bioMerieux
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