Endocrine Testing Market to Find Better Growth with US$ 4.5 Billion By 2026 | CAGR: 4.9%: Coherent Market Insights
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Global Endocrine Testing Market, by Test (Thyroid, Insulin, Follicle Stimulating Hormone, Luteinizing, Hormone, Estradiol, Testosterone, Progesterone, Human Chorionic Gonadotropin, Prolactin, Cortisol DHEA-S, and Others), by Diagnostic Technology (Immunoassay, Tandem Mass Spectroscopy, Monoclonal and Polyclonal Antibody, Sensor Technologies, Clinical Chemistry, and Others), by End User (Hospitals, Diagnostic Laboratories, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2.95 billion in 2017 and is estimated to exhibit a CAGR of 4.9% over the forecast period (2018-2026).
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Endocrine testing aids in profiling of blood concentration of different endocrine hormones. Moreover, over secretion and under secretion of endocrinal hormones results in development of endocrinal diseases such as hypothyroidism, hyperthyroidism, infertility, polycystic ovarian syndrome, hypo/hyperadrenocorticism, hypogonadism, diabetes, multiple endocrine neoplasia I and II, Cushing’s disease, Gigantism (acromegaly), and other growth hormone problem and precocious puberty( Early Puberty).
Furthermore, endocrine diseases are caused due to various factors, which include problem in endocrine feedback system, disease condition, failure of stimulation of glands to release hormones, tumor of an endocrine gland, genetic disorders, infection, and physical trauma to an endocrine gland. The increasing prevalence of these diseases especially hypothyroidism, infertility, and diabetes are expected to drive growth of the global endocrinal testing market over the forecast period. For instance, according to a study published by Centre for Disease Control and Prevention (CDC), around 100 million (30.3 million diabetes and 84.1 million prediabetes) U.S. adults suffered from diabetes or prediabetes condition, in 2017. Similarly, according to the American Thyroid Association, 2017, around 12% of U.S. adults are estimated to develop thyroid disease in their lifetime.
Additionally, postmenopausal osteoporosis are caused due to reduced estrogen production after menopause leading to low bone mineral density and increased risk for fracture risks. For instance, according to a study published by BMC Endocrine Disorder in February 2018, osteoporosis affects around 10 million American adults annually, and 34 million people are at high risk of it due to low bone mass,
Browse 45 Market Data Tables and 35 Figures spread through 200 Pages and in-depth TOC on “Endocrine Testing Market – by Test (Thyroid, Insulin, Follicle Stimulating Hormone, Luteinizing, Hormone, Estradiol, Testosterone, Progesterone, Human chorionic gonadotropin, Prolactin, Cortisol DHEA-S, and Others), by Diagnostic Technology (Immunoassay, Tandem Mass Spectroscopy, Monoclonal, and Polyclonal Antibody, Sensor Technologies, Clinical Chemistry, and Others), by End User (Hospitals, Diagnostic Laboratories, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Global forecast to 2026”
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Key players are focusing on mergers, product launches and approvals, acquisitions, and collaborations, in order to strengthen their position in market and to tap into the new market. For instance, in August 2017, North West London Pathology under National Health Service Trust and Abbott Laboratories signed contract worth US$ 252 million, under which Abbott Laboratories will supply all analytical equipment and consumables, this contract would manage 26 million tests annually. Similarly, in 2017, Abbott Laboratories received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its Alinity ci-series instruments for clinical chemistry and immunoassay diagnostics. Furthermore, in April 2018, Beckman Coulter launched its Access Sensitive Estradiol assay in the U.S. market, also made available its assay in the most of global markets. This test accurately detects estradiol levels in women, children, and men using low sample. The company also launched Anti-Müllerian Hormone (AMH) assay in 2017, which helps in clinical management of women suffering from infertility. Moreover, the company received FDA clearance and commercially launched new Access TSH (3rd IS) assay, in 2016.
Key Takeaways of the Endocrine Testing Market:
- The global endocrine testing market is expected to exhibit a CAGR of 4.9% over the forecast period, attributed to increasing prevalence of endocrine disease and need for their early diagnosis
- Among test type, thyroid test segment is expected to hold a dominant position in market over the forecast period owing to its increasing prevalence and increasing number of thyroid disorders. Thyroid test would be followed by fertility related hormone testing (FSH, Progesterone etc.) due to high incidence of infertility throughout globe. Moreover, among diagnostic technology, tandem mass spectroscopy segment is expected to account for highest market share, owing to high accuracy and short time to detect the analyte in sample Furthermore, amongst end user, hospital segment is expected to hold a dominant position in the market.
- Among regions, North America is expected to hold dominant position in the global endocrine testing market, followed by Europe and Asia Pacific respectively. This is attributed to high prevalence of endocrine disease such as hypo/hyperthyroidism, in the U.S. For instance, according to the American Thyroid Association, in 2017, around 60% of people suffering from thyroid disease are unaware of their disease. Moreover, Europe is expected to witness significant growth in endocrine testing market, owing to increasing number of population age 65 and above. According to European statistics 2017, around 19% of European population was 65 and above in 2016. Emerging economies from Asia Pacific region are expected to offer growth opportunities, as this region is facing increasing number in endocrine disorder.
- Major players operating in the endocrine testing market include Abbott Laboratories, Thermo Fisher Scientific, Beckman Coulter, Inc., Siemens Healthineers, bioMérieux SA, Agilent Technologies, Bi-Rad Laboratories, AB Sciex, F-Hoffmann La Roche AG, Quest Diagnostics, and Others
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