The Global Endocrine
Testing market was valued at USD 8.03 billion in 2018 and is expected
to reach USD 15.09 billion by year 2026, at a CAGR of 8.1%. Endocrine testing
involves examining urine or blood samples to detect the concentration of
endocrinal hormones such as thyroid, diabetes, Cushing syndrome, etc.
Technological Advancements in terms of accuracy, affordability,
cost-effectiveness, and introduction of easy-to-operate test kits have
facilitated the penetration of home-based diagnostics. Key market players today
are focusing on investing in launching innovative products, thereby increasing
their market footprint in the endocrine testing market.
Increasing incidence of diabetes,
sedentary lifestyle, growing healthcare awareness, increasing government
support & obesity are some of the key factors projected to surge the demand
for Endocrine testing, thereby propelling the market growth. Furthermore, a
high prevalence of hyperthyroidism, hypothyroidism, and rising geriatric
population are some of the key factors responsible for fueling market growth.
In context to regional analysis,
the North American region dominated the market in 2018 and is expected to
maintain its lead during the forecast period while the Asia Pacific region is
projected to witness the fastest growth with a CAGR of 9.1% during the forecast
period.
Further key findings from
the report suggest
- Various market players are engaged in developing new
products. For instance, Helmholtz Zentrum München allied with Eli Lilly
and Company to discover new targets for pancreatic beta cell regeneration
in the treatment of diabetes
- Sensors Segment is expected to witness lucrative
growth with a CAGR of 8.6% during the forecast period
- As of 2018, Tandem Mass Spectrometry segment
dominated the market with a market share of 33.9% and is expected to
maintain its lead due to its increasing use in combination with liquid
chromatography which aids in overcoming challenges associated with
traditional techniques in Endocrine testing
- The Insulin test segment is expected to register
fastest growth with a CAGR of 8.8% during the forecast period
- The thyroid Stimulating hormone (TSH) segment is
prophesied to dominate the global Endocrine testing market with a share of
0%
- In the End-use, hospital users accounted for largest
market share and is expected to be seen leading in the upcoming years
- The North American region dominated the global
endocrine testing market in in terms of revenue generation with a share of
3%
- The Asia Pacific region is projected to be the
fastest growing regional market with a CAGR of 9.1%. The factors fostering
the market growth are increasing investments in Research and development
by key private companies and government to improve diagnostic and
therapeutic areas in the region
- Europe is the second largest region in terms of
capturing the market share.
- Key participants include AB Sciex, Abbott
Laboratories, Beckman Coulter, bioMerieux SA, BioRad Laboratories,
Biomedical Technologies, Agilent Technologies, Quest Diagnostics,
Diasorin, Hoffmann- La Roche Ltd., Thermo Fisher Scientific, Quest
Diagnostics and Siemens Healthineers.
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