According to the latest report by IMARC Group, titled “Endocrine Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global endocrine testing market reached a value of US$ 9.7 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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. Looking forward, the market is projected to expand at a CAGR of 8.08% during the forecast period (2022-2027).
- On the basis of the test type, the market has been segmented into the thyroid, insulin, human chorionic gonadotropin, prolactin, luteinizing hormone, progesterone, and other tests.
- Based on the technology, the market has been segregated into immunoassay, tandem mass spectroscopy, sensor technology, LC-MS, and others.
- The market has been analyzed on the basis of the end use into hospitals, ambulatory care centers, clinical laboratories, and others.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., bioMérieux SA, DiaSorin S.p.A., F. Hoffmann-La Roche AG (Roche Holding AG), Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Siemens Healthineers AG (Siemens Aktiengesellschaft), and Thermo Fisher Scientific Inc.
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