Global Cholesterol Testing Services Market: Overview
Cholesterol is a waxy, fat-like substance that's found in all the cells in our body. If you have too much cholesterol in your blood, it can combine with other substances in the blood to form plaque, which sticks to the walls of your arteries. A complete cholesterol test is also called a lipid panel or lipid profile. Your doctor can use it to measure the amount of “good” and “bad” cholesterol and triglycerides, a type of fat, in your blood.
The report by Transparency Market Research aims to enlighten on the rapid growth and prospects of the market in detail. The study also focuses on competitive dynamics in the market by factoring in weaknesses and strengths of prominent participants. This report also enlighten unique and salient factors that may make a huge impact on the development of the global cholesterol testing services market during the aforementioned forecast period.
Global Cholesterol Testing Services Market: Drivers & Restraints
The global cholesterol testing services market is expected to register significant growth in the coming years with the increasing incidence of cardiovascular diseases and obesity. Another factor which will drive the market is physician preference for lab testing over self-testing, besides growing awareness and adoption of preventive healthcare. The government initiatives will also improve the quality of testing. Further, the rise in geriatric population cross the world will also increase the incidence of cardiovascular diseases.
Furthermore, increase in healthcare expenditure and rise in public awareness about the cardiovascular disease, its causes, treatment, and prevention also boost the growth of the market.
The elevated levels of cholesterol create health threats such as sharp risk of stroke & heart diseases and account for a large number of deaths. Cholesterol screening services allow early detection of the problems related to high cholesterol levels, avoiding complications and increasing the survival chances of patients.
On the other hand, the rapidly growing home/self-testing market and emergence of noninvasive cholesterol testing methods are expected to restrain the growth of this cholesterol testing services market to a certain extent.
Global Cholesterol Testing Services Market: Geographical Outlook
Geographically, North America is expected to account for the largest share of the market followed by Europe, Asia, and RoW. One of the major factors contributing to this large share in North America is the rising geriatric population, which has expanded the addressable patient population base. This change is expected to put the spotlight on preventive measures such as clinical diagnostics, especially cholesterol tests, to reduce adverse events caused by diseases such as stroke, diabetes, and cardiovascular disease. In North America, the U.S. is a major market for cholesterol testing service providers.
Global Cholesterol Testing Services Market: Competitive Landscape
Companies such as Quest Diagnostics Incorporated, Spectra Laboratories Inc., Bio-Reference Laboratories Inc., Eurofins Scientific (Luxembourg), and Clinical Reference Laboratory, Inc. (CRL) enjoy a strong hold in the global cholesterol testing services market. Currently, the global cholesterol testing services market is experiencing extreme competition as leading companies are focusing on development of new and advanced monitoring devices to overcome the challenges of existing devices. Some of the market players are responding to these new opportunities by expanding their global presence and service offerings/product lines.