Cholesterol Test Market Forecast
Cholesterol Test Market is expected to hold a value of USD 2,465 Million by 2025 at a CAGR of 7.4%.
Cholesterol Test Market Synopsis
A cholesterol test is a blood test that is used to measure the amount of each type of cholesterol and certain fats in the blood. As too much low-density lipoprotein cholesterol in the blood may put the patient at risk for heart disease, obesity and other serious conditions. The increasing incidence of cardiovascular diseases and obesity, physician’s preference for lab testing over self-testing, growing awareness and adoption of preventive healthcare, government initiatives to improve quality of testing and growth in the geriatric population are the primary factors contributing to the growth of this market during the assessment period. However, the emergence of noninvasive cholesterol testing methods may hamper market growth during the forecast period.
Cholesterol Test Market Influencer
Growing awareness and adoption of preventive healthcare, coupled with withgovernment initiatives to provide advanced healthcare facilities, are influencing the market growth.
Cholesterol Test Market Drivers
- Growing awareness and adoption of preventive healthcare
- Increasing incidence of cardiovascular diseases and obesity
- Government Initiatives to Improve Quality of Testing
- The aging population is increasing worldwide, with the most rapid growth in low- and middle-income countries. About 185 million people were above 60 years of age in 2015 (15.7% of the population), and this number is expected to touch 487 million by 2053 (36.5% of the population). Moreover, around 857,040 of the older population is likely to reside in Asia by 2050. In 2016, approximately 18% and 2.4% of the total population in the UK were aged over 65 years and 85 years, respectively.
Cholesterol Test Market Restraints
- The emergence of noninvasive cholesterol testing methods
Cholesterol Test Market Segmentation
Cholesterol Test Market By Product Type
- Test Kits: It is expected to hold the largest share during the forecast period. The cholesterol test kit is a convenient and effective way to test cholesterol levels. It allows the monitoring of cholesterol without visiting the doctor. And, rather than waiting days or weeks for cholesterol, these test kits give results in minutes.
- Test Strips: Cholesterol test strips are used to measure the cholesterol level in the blood to provide cholesterol monitoring at home and which is fast with accurate results.
Cholesterol Test Market By Test Type
- Total cholesterol Test: It is the sum of blood cholesterol content; it is expected to hold the largest share as it is the most preferred test.
- High-density lipoprotein (HDL) cholesterol: It is also called as good cholesterol as it helps carry away LDL cholesterol, thus keeping arteries open and blood flowing more freely.
- Low-density lipoprotein (LDL) cholesterol: It is termed as bad cholesterol. Too much of it in the blood causes the buildup of fatty deposits (plaques) in arteries, which reduces blood flow. These plaques sometimes rupture and can lead to a heart attack or stroke.
- Triglycerides/VLDL cholesterol test: Triglycerides are a type of fat in the blood. High triglyceride levels are associated with several factors, including being overweight, eating sweets, or drinking too much alcohol, smoking, or having diabetes with elevated blood sugar levels.
Cholesterol Test Market By Distribution Channel
- Over the Counter: It is expected to hold the largest share due to the growing trend of OTC for cholesterol test will drive the market growth. It has been observed that retailer plays a vital role in cholesterol test kits business as they became one of the key influencers for market growth.
- Prescription Based: The physician prescribes cholesterol tests in some cases. Most of the hospitals also have a strict policy for patients to buy medications from their premises only with a prescription.
Cholesterol Test Market By End-User
- Hospitals & Clinics: The largest segment, hospitals & clinics, are usually the primary points for the diagnosis and treatment of patients. A gradual rise in the number of government & private hospitals in emerging countries, namely, China & India coupled with the increasing number of patients performed in hospitals, is supporting the dominance of the hospitals & clinics segment. In terms of value, the US is holding a larger market share. According to an independent source, currently, there are around 1,05,000 hospitals worldwide with advanced laboratory infrastructure is contributing to the larger market chunk.
- Homecare: The cholesterol test can also be used by the patients at their home settings for performing cholesterol levels in blood with home monitoring devices. The rising demand for home test kits boosts market growth during the forecast period.
- Diagnostic Centers: Diagnostic center is a facility that aids in evaluating the health condition diagnosis of patients with the help of blood tests and other associated tests. The diagnostic center's segment is expected to follow the hospitals & clinics segment over the forecast period due to rising demand for diagnostic.
- Others: This segment is expected to poise comparatively least market growth during the forecast period owing to relatively lower adoption of diagnosis & treatments in these institutes. Increasing collaborations between several academic institutions and rising studies focusing on various diagnostics methods across the globe are envisaged to entitle considerable market growth soon.
Cholesterol Test Market By Region
- Americas: The largest regional market. Countries such as the US have a well-established healthcare industry. Moreover, the increasing prevalence of stroke in the US is one of the major factors for market growth during the forecast period. For instance, it is one of the major causes of death and a leading cause of disability in the United States. A stroke occurs when a blood vessel that carries oxygen and nutrients to the brain is either blocked by a clot or bursts.
- Europe: Europe is expected to hold the second-largest position in the increasing patient population for cardiovascular diseases and obesity in this region.
- Asia-Pacific: Asia-Pacific region is projected to be the fastest-growing region in the global cholesterol test market. Stroke is an especially serious problem in the Asia-Pacific region, which has more than 60% of the world's population, and many of its countries are developing economies.
- Middle East & Africa: The smallest market due to limited healthcare infrastructure and limited exposure to advanced services.
Cholesterol Test Market Key Players
- Quest Diagnostics Incorporated
- Cell Biolabs, Inc.
- Clinical Reference Laboratory, Inc.
- Laboratory Corporation of America Holdings
- Randox Laboratories Ltd.
- Thermo Fisher Scientific
- PTS DIAGNOSTICS
- Alere Inc.
- Hoffmann-La Roche AG
- Eurofins Scientific
USD 2,465 Million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
by Product Type, Test Type, Distribution Channel and End-User
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Quest Diagnostics Incorporated, Cell Biolabs, Inc., Clinical Reference Laboratory, Laboratory Corporation of America Holdings, Randox Laboratories Ltd., Thermo Fisher Scientific, PTS DIAGNOSTICS
Alere Inc., Hoffmann-La Roche AG, Eurofins Scientific
Key Market Opportunities
Advanced healthcare facilities
Key Market Drivers
Growing awareness and adoption of preventive healthcareIncreasing incidence of cardiovascular diseases and obesityGovernment Initiatives to Improve Quality of Testing
Frequently Asked Questions (FAQ) :
The market will generate revenue of USD 2,465 Million by 2025 (future).
A CAGR of 7.4% is calculated for the growth of the market.
The rising awareness and adoption of preventive healthcare, coupled with government initiatives to offer advanced healthcare facilities. These are influencing the market growth.
The market restraints are covered as the emergence of noninvasive cholesterol testing methods.
Asia-Pacific is the projected region to be the fastest-growing in the global cholesterol test market.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.