Adenocorticotropic hormone (ACTH) is a hormone produced and secreted by the anterior pituitary gland. It is also called corticotropin or serum ACTH. The function of the ACTH is to regulate the level of steroid hormone cortisol, which is regulated by the adrenal gland. Growth hormone (GH) is a peptide hormone that stimulates growth, cell reproduction, and cell regeneration. Growth hormone is also known as somatotropin or human growth hormone (HGH). Growth hormone is produced by the pituitary gland. It is a stress hormone that increases the levels of glucose and free fatty acids. ACTH is associated with diseases such as pituitary tumor and adrenal malfunction. GH is associated with acromegaly and gigantism. Hence, ACTH and GH testing is an important factor to control and cure diseases.
Rise in unhealthy lifestyle, growing stress levels, and unhealthy food habits that result in obesity that disturbs the levels of hormone are important factors likely to propel the global ACTH and GH function tests market during the forecast period. According to American Association of Neurological Surgeons, 10–15 persons per million people are affected every year with Cushing’s syndrome. Rise in the prevalence of Cushing syndrome and Addison disease is a major factor anticipated to fuel the global ACTH function tests market throughout the forecast period. Increasing prevalence of growth hormone deficiency (GHD) in children and rising prevalence of gigantism and child obesity are key factors likely to augment the global ACTH and GH function tests market during the forecast period. Additionally, rise in the prevalence of chronic diseases such as pituitary disorders, disturbing thyroid levels, high blood pressure, and increase in the prevalence of kidney disorders and hypogonadism are factors that are likely to drive the market from 2017 to 2025. According to the WHO, the number of diabetes patients worldwide would increase to 366 million by 2030, promoting rapid growth of the global ACTH and GH function tests market during the forecast period.
Based on technology, the global ACTH and GH function tests market has been divided into serology & immunoassays, molecular techniques, mass spectrometry, and others. The mass spectrometry segment is expected to register a high growth rate throughout the forecast period, due to advantages of mass spectrometry over traditional serology methods. Based on sample type, the market has been divided into blood, urine, and others. Based on end-user, the global ACTH and GH function tests market has been segregated into hospitals, diagnostic laboratories, ambulatory surgical centers, and other home care settings. The home care setting segment is anticipated to witness high between 2017 and 2025, due to cost-effective and user-friendly ACTH and GH function test kits offered under this segment.
Based on geography, the ACTH and GH function tests market has been segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global ACTH and GH function tests market, both in terms of value and volume, followed by Europe. Developed hospitals, improved technology, increase in awareness about health care, and proper reimbursement are factors attributable to growth of the market in North America. The Asia Pacific market is expected to register a high growth rate during the forecast period, owing to factors such as developing health care network, improved hospital infrastructure, and rising awareness among people in the region.
Some of the key players operating in the global ACTH and GH function tests market are GenWay Biotech, Inc., LifeSpan BioSciences, Inc., Abcam plc, F. Hoffmann-La Roche Ltd, Abbott laboratories, and Laboratory Corporation of America. In order to maintain a significant position in the global market, major players are involved in launching highly efficient products and initiate collaborations and mergers. For example, Laboratory Corporation of America offers solutions for every hormonal disease. The company also offers Liquid Chromatography Mass Spectrometry (LC-MS), which requires a minimal amount of sample.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.