Elevated Cholesterol Level among Population Propelled Cholesterol Meter Market
- A cholesterol meter offers point-of-care testing for rapid results and immediate treatment options. These devices are small, portable hand-held analyzers which measure total cholesterol, HDL cholesterol, and triglycerides. Also, these devices are a convenient and effective way to measure cholesterol level at home.
- Rise in level of cholesterol in blood among population, especially aged above 60, is a major factor for risk of stroke and heart diseases and accounts for a large number of deaths. Cholesterol testing allows early detection of problems related to high cholesterol levels, avoiding complications and increasing the survival chances of patients. As per the Centers for Disease Control and Prevention (CDC), in 2017, in the U.S., 95 million adults aged 20 or older had total cholesterol levels higher than 200 mg/dL and 7% of children and adolescents aged between 6 and 19 had high total cholesterol.
Get a Glimpse of the In-Depth Analysis through our Cholesterol Meter Market Report Brochure
Key Drivers and Restraints of Global Cholesterol Meter Market
- Rise in prevalence of cardiovascular diseases, obesity due to rise in cholesterol level is fueling the cholesterol meter market growth. Based on data published in CDC, in 2015, more than 71 million of population (33.5%) was suffering from high level of LDL (bad cholesterol) in the U.S. Moreover, cardiovascular disease (CVD), listed as the underlying cause of death, accounted for nearly 836,546 deaths in the U.S. in 2018. In Europe, cardiovascular disease is responsible for 38% of male and 37% of female deaths before the age of 75 as per data published in HEART UK. As high cholesterol level is directly linked with various cardiac diseases, rise in number of CVD cases fuels the cholesterol meter market growth.
- Increase in geriatric population is another cause of rise in demand for cholesterol testing products. The majority of cardiovascular disease cases and deaths occur in people aged 65 years and above. Based on data collected by the World health Organization, between 2015 and 2050, the proportion of the world's population over 60 years is estimated to nearly double from 12% to 22%. Increase in geriatric population and predominant western lifestyle which is also being adopted in developing countries, combine to produce higher levels of cholesterol in population and thus propelling the cholesterol meter market growth.
- However, inaccuracy of results delivered by these point-of-care cholesterol monitor meters still persists and making them less reliable and riskier. This factor acts as a major concern and may hamper the cholesterol meter market growth.
Total Cholesterol to Witness High Demand
- Based on test type, the global cholesterol meter market can be segmented into Total Cholesterol, High-density Lipoprotein (HDL) Cholesterol, Low-density Lipoprotein (LDL) Cholesterol, Triglycerides, and Others
- Majorly, total cholesterol level is measured rather than performing HDL and LDL tests separately, as it measures LDL cholesterol, HDL cholesterol, and other lipid components as well. Based on the level of total cholesterol, doctors can also determine risk of heart diseases and patients can take precautions.
Homecare Settings Segment to Witness Highest Growth
- Based on end-user, the global cholesterol meter market can be divided into: Hospitals, Ambulatory Surgical Centers, Home Care Settings, Diagnostic Centers, and Others
- Diagnostic centers dominated the total market in 2018 in terms of revenue due to rise in number of people being diagnosed with high total cholesterol. Moreover, routine health checkup without the doctors’ intervention is also a high impact-rendering driver for the segmental growth.
- The home care settings segment is anticipated to grow with the highest CAGR during the forecast period. This can be attributed to increase in focus on preventive care and early diagnosis to avoid serious disease conditions.
Expanding Operations in Future? To Get the Perfect Launch Ask for a Custom Cholesterol Meter Market Report
North America to Dominate Global Cholesterol Meter Market
- In terms of region, the global cholesterol meter market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global cholesterol meter market in 2018 and is expected to maintain the position during the forecast period. This is due to rise in prevalence of obesity and change in lifestyle. According to the United Health Foundation's annual report, a 5% increase in obesity rate has been reported among adults in the U.S. in 2018 (31.3%) from 2017 (29.9%). Along with this, rise in preference for preventive health care is also projected to drive the market in the region. Rise in awareness and investment from government and various organizations are expected to drive the cholesterol meter market in North America.
- However, increase in cardiovascular diseases along with rise in geriatric population is anticipated to drive the cholesterol meter market in Asia Pacific in the near future. Emerging markets such as China and India offer high growth potentials for companies involved in the manufacturing and distribution of cholesterol meter products.
Key Manufacturers Operating in Cholesterol Meter Market
The global cholesterol meter market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Jant Pharmacal Corporation
- Prima Lab SA
- Quest Diagnostics Inc.
- F. Hoffmann-La Roche Ltd
- OSANG Healthcare
- ACON Laboratories, Inc.
- SD Biosensor, INC.
- CIGA Healthcare Ltd
Cholesterol Meter Market: Research Scope
Cholesterol Meter Market, by Test Type
- Total Cholesterol
- High-density Lipoprotein (HDL) Cholesterol
- Low-density Lipoprotein (LDL) Cholesterol
Cholesterol Meter Market, by End-user
- Ambulatory Surgical Centers
- Home Care Settings
- Diagnostic Centers
Cholesterol Meter Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Cholesterol Meter Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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.