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Global Cholesterol Testing Services Market

Sept. 18, 2019

Global Cholesterol Testing Services Market, By Product Type (Test Strips and Test Kits), By Test Type (High-Density Lipoprotein, Low-Density Lipoprotein, Total Cholesterol Test, Triglycerides/VLDL Cholesterol Test), By Age Group (Geriatric, Adults, and Pediatric), By End User (Hospitals & Clinics, Homecare, Diagnostic Centers, and Others), By Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa)

Report Code :FMR496      
Pages :199 Pages
Format :   PPT Format   PDF Format

The global cholesterol testing services market was valued at US$ xx million in the year 2019. This market is estimated to be valued at US$ xx million in the year 2020 and is expected to reach US$ xx million by the year 2025, with an estimated CAGR of xx% during the forecast period (2020-2025). The cholesterol testing services are used to estimate the amount of various type of fats and cholesterol in the blood. The demand for testing services of cholesterol has accounted for significant growth in the forecast period owing to the risk for obesity, heart disease, etc. in the patient in various countries. The risk factors of several diseases arise due to the presence of low-density lipoprotein cholesterol in the blood.

Table 1. Global Cholesterol Testing Services Market Synopsis

Parameters

Description

Market Value (US$ Mn) for the Period

2018-2025

Base Year

2019

Forecast Period

2020-2025

Market Segmentation (By Product Type)

Test Strips and Test Kits

Market Segmentation (By Test Type)

High-Density Lipoprotein, Low-Density Lipoprotein, Total Cholesterol Test, Triglycerides/VLDL Cholesterol Test

Market Segmentation (By Age Group)

Geriatric, Adults, and Pediatric

Market Segmentation (By End User)

Hospitals & Clinics, Homecare, Diagnostic Centers, and Others

Regions Covered

North America, Latin America, Europe, Asia-Pacific, Middle East and Africa

Key Players Coverage

Spectra Laboratories, Synlab International GmbH, Adicon Clinical Laboratory, Laboratory Corporation of America Holdings, Eurofins Scientific, Unilabs, ACM Medical Laboratory, Clinical Reference Laboratory, Quest Diagnostics Incorporated, Bio-Reference laboratories, Cell Biolabs, Randox Laboratories Limited, PTS Diagnostics, and Hoffmann-La Roche AG, among others

Key Insights

  • Latest Updates
  • Analyst Views
  • Future Outlook of the Market

Market Dynamics

The rising initiative of the companies and government to provide the test services at home for the patients has pushed the growth in the demand for cholesterol testing services due to an easy and convenient access of the services. For instance, in September 2016, Everly Well provided a platform for consumers to order cholesterol lab tests at home and deliver the services of providing test kits, collecting test samples, and received test reports. The initiative by the Everly Well uplifts the demand for the cholesterol testing services at home globally.

The increase in the rate of obesity and cardiovascular disease is anticipated to thrive the demand for the cholesterol testing services and products. Patients who are suffering from cardiac disease and have a history of heart attacks prescribed to undergo cholesterol screening on a regular basis. It is recommended to go through for blood cholesterol testing in every 5 years for the population above 18 years of age. For instance, in July 2019, the National Heart, Lung, and Blood Institute recommended one cholesterol test between the ages of 9 and 11, and another cholesterol test between the ages of 17 and 21.

However, the high cost of testing services and rising adoption of noninvasive cholesterol testing methods that includes low cost than the conventional testing services are expected to hinder the cholesterol testing services market over the forecast period

 Figure 1. Cholesterol Testing Services Market Scenario Forecast (Likely, Conservative, and Optimistic Scenario), 2019 and 2025 (US$ Mn)

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

North America is anticipated to acquire the significant market share in the cholesterol testing services market. The factors like geriatric population, rising incidence of cardiac diseases, and the demand for development of health infrastructure are expected to pave the lucrative opportunity in the forecast period. For instance, in November 2016, Quest diagnostics launched a new patient-initiated testing service i.e., Quest Direct, that helps the patients to better manage their health as this service provides the facility to order cholesterol lab tests directly without the permission of physician.

Moreover, the rise in the population and rate of obesity and cardiovascular disease influences the cholesterol testing services market of the Asia-Pacific region. For instance, in January 2019, the company Amgen received NMPA approval for Repatha, an LDL-C lowering treatment in China to reduce the risk of cardiovascular disease and therefore increase the demand for cholesterol testing services.

Figure 2. Regional Analysis

 

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

Competitive Landscape

Key players in the global cholesterol testing services market include Spectra Laboratories, Synlab International GmbH, Adicon Clinical Laboratory, Laboratory Corporation of America Holdings, Eurofins Scientific, Unilabs, ACM Medical Laboratory, Clinical Reference Laboratory, Quest Diagnostics Incorporated, Bio-Reference laboratories, Cell Biolabs, Randox Laboratories Limited, PTS Diagnostics, and Hoffmann-La Roche AG, among others

The cholesterol testing services market players are following various organic and non-organic strategies like product development, launch, innovation, to become the leading player of the market. For instance, in September 2017, the company, Quest Diagnostics launched a novel, non-fasting cholesterol testing with authorized LDL calculation method for batter performance and patient comfort.

Further, in October 2019, the company Eurofins Scientific introduced its nutrition testing package for protein, energy, total fat, trans fat, saturated fat, cholesterol, carbohydrate, and others for the comfort of the patients.

Figure 2. Market Share of Key Players, 2019

 

Note: The above figure is shown for illustrative purposes only, the actual data may vary and will be incorporated in the report.

By Product Type

  • Test Strips
  • Test Kits

By Test Type

  • High-Density Lipoprotein
  • Low-Density Lipoprotein
  • Total Cholesterol Test
  • Triglycerides/VLDL Cholesterol Test

By Age Group

  • Geriatric
  • Adults
  • Pediatric

By End User

  • Hospitals & Clinics
  • Homecare
  • Diagnostic Centers
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
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Note: This report provides in-depth analysis of the global cholesterol testing services market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2025), considering 2019, as the base year.

  • What are the trends adopted by key players in the global cholesterol testing services market?
  • What key factors are expected to increase the demand for cholesterol testing services market during the forecast period 2020-2025?
  • What are the major challenges inhibiting the growth of the global cholesterol testing services market?
  • What is the total market value (US$ Mn) generated in global cholesterol testing services market by product type in 2019 and what are the forecasts by 2025?
  • What is the total market value (US$ Mn) generated in global cholesterol testing services market by test type in 2019 and what are the forecasts by 2025?
  • Which age group is expected to propel the cholesterol testing services market in the foreseen future?
  • Which end user contributes highest CAGR (%) in the cholesterol testing services bank market?
  • What was the total revenue generated by the global cholesterol testing services market across different regions (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) in 2019, along with CAGR (%) for the period (2020-2025)?
  • Who are the key players contributing to the growth of the global cholesterol testing services market, and what are the new strategies adopted by them to retain a market share in the industry?
  • What is the competitive strength of the key players in the cholesterol testing services market?
  • What new products are going to be approved or launched in the coming years which may have huge impact on the market?
  • What insights are derived through the analysis of key players on following parameters: company overview, financial performance, product portfolio, geographical presence, key highlights, and strategies?

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