HDL Cholesterol Kits Market is Expanding at a Healthy 4.8% CAGR, the Market Size is Projected to Total US$ 786.2 Million by 2022-2029
The growth of the HDL cholesterol kits market can be attributed to the increasing prevalence of atherosclerosis due to high cholesterol level, which favours the demand for cholesterol testing. According to the latest research by FMI, the global HDL cholesterol kits market is expected to be valued at US$ 786.2 Mn by the end of 2029. The HDL cholesterol kits market is expected to expand at a CAGR of 4.8% during the forecast period 2022-2029.
The increasing incidence of obesity and hyperlipidaemia among people is boosting the need for cholesterol testing, which is driving the growth of the HDL cholesterol kits market. The prevalence of obesity has increased from 33.7% in 2007-2008 to 39.7% in 2015-2016 among adults in the U.S. The increasing prevalence of obesity also increases the risk of cardiovascular disorders, high blood pressure, and hyperlipidaemia.
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Moreover, the prevalence of hyperlipidaemia is high among the obese population. Nearly 60-70% of patients suffering from obesity have hyperlipidaemia. Other factors, such as growing awareness programs for cholesterol testing and growing cholesterol testing among diabetic patients, are also propelling the growth of the HDL cholesterol kits market.
Rise of ‘Regular Health Check’ Trend Uplifts Prospects in East Asia
Low awareness in middle- and low-income countries about cholesterol testing and other healthcare testing are also among the major factors that are expected to hamper the growth of the HDL cholesterol kits market.
There is low awareness about diseases such as dyslipidaemia and hypercholesterolemia in middle-income countries and rural areas. Moreover, the chances of errors and inaccuracy in HDL cholesterol testing methods, such HDL cholesterol precipitating method, are among factors expected to restrain the growth of the HDL cholesterol kits market.
The North America HDL cholesterol kits market gain a maximum value share in 2021. However, the East Asia HDL cholesterol kits market expected to witness prominent growth owing to the higher demand for cholesterol testing in countries such as China and Japan.
Developing countries, such as China and India, represent a significant growth rate in the HDL cholesterol kits market due to the growing adoption of regular healthcare testing. The Middle East & Africa HDL cholesterol kits market is expected to witness a sluggish growth rate as compared to other regions.
The global HDL cholesterol kits market has been studied based on the product type and end user. Based on the product type, the HDL cholesterol kits market has been segmented into HDL cholesterol precipitating reagent kit, HDL cholesterol direct reagent kit, and HDL and LDL/VLDL assay kit.
The HDL and LDL/VLDL assay kit product type segment is expected to hold a prominent share in the global HDL cholesterol kits market. Based on end user, the HDL cholesterol kits market has been segmented into hospitals, clinics, and diagnostic laboratories. In terms of revenue, the hospitals segment of the HDL cholesterol kits market was a significant market for HDL cholesterol kits in 2021.
Partnerships and Acquisitions Governing the Competition Landscape
Some of the key players operating in the HDL cholesterol kits market are Diazyme Laboratories, Inc., Randox Laboratories Limited, Fujifilm Holding Corporation, Thermo Fisher Scientific, Abcam plc., Merck KGaA, Abbott Laboratories, Danaher Corporation (Beckman Coulter Inc.), PerkinElmer, Inc., and Hoffmann-La Roche Ltd.
Players in the HDL cholesterol kits market are focusing on partnerships and acquisitions with regional and global players to increase their sales worldwide. For instance, through the acquisition of Wako Pure Chemical, Fujifilm Holding Corporation expand its presence in the life science and chemical sectors.
The manufacturers of HDL cholesterol kits are focusing on the expansion of their presence in key markets such as the Asia Pacific, the Middle East, and Europe through distribution agreements and the opening of new manufacturing facilities.
The manufacturers of HDL cholesterol kits are also focusing on the development of point-of-care testing as it is more helpful and convenient for making quicker decisions. Moreover, HDL cholesterol kits industry stakeholders are focusing on the addition of direct reagent kits in their product portfolios.
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