Global Endocrine Testing Products Market to Surpass US$ 23,160.1 Million by 2030 - Coherent Market Insights

SEATTLE, May 25, 2022 /PRNewswire/ -- According to Coherent Market Insights, global endocrine testing products market is estimated to be valued at US$ 11,695.7 million in 2022 and is expected to exhibit a CAGR of 8.9% during the forecast period (2022-2030).

Key Trends and Analysis of the Global Endocrine Testing Products Market:

Key trends in the market include increasing product approvals, increasing prevalence of chronic diseases, increasing research and development activities, and inorganic growth activities such as collaborations, etc.

Market players are indulged in inorganic growth activities, such as partnerships, which is expected to drive growth of the market over the forecast period. For instance, on January 13, 2022, Ascend, a dialysis testing laboratory, entered into a strategic partnership with Siemens Healthineers, a medical technology company. According to the press release, the partnership intends to increase testing capacity at Ascend's new Sunnyvale, California laboratory. The lab, which will house over 40 Atellica Solution analyzers, and is scheduled to open in the second quarter of 2022.

Market players are indulged in launching new products for endocrine testing, which is expected to increase the growth of the global endocrine testing products market, over the forecast period. For instance, in March 2021, F. Hoffmann-La Roche AG launched cobas, pure integrated solutions in countries that accept the Conformitè Europëenne (CE) mark. This new compact analyzer combines three technologies on a single platform, thus making daily operations such as combines' clinical chemistry, immunochemistry and ion selective electrode (ISE) testing, easier in labs with limited space and resources.

Key players are engaged in receiving authorizations for their endocrine testing products, which is expected to drive growth of the global endocrine testing products market over the forecast period. For instance, in July 2021, Ortho Clinical Diagnostics received U.K. Reach authorization for a substance name 4-(1,1,3,3-tetramethylbutyl)phenol, ethoxylated. It is used for infectious disease screening, endocrinology, and oncology testing. U.K. Reach authorization aims to points out the use of hazardous substances of very high concern (SVHCs) and it also ensures that these SVHCs are progressively replaced by safer alternatives. 

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Key Market Takeaways:

Market players are indulged in launching new laboratory facilities, this is expected to drive growth of the global endocrine testing products market, over the forecast period. For instance, on February 07, 2022, Labcorp, is an American S&P, announced the opening of a new diagnostics laboratory in South Bend, Indiana, which will allow the company to improve diagnostics service levels and offerings to patients and physicians in the region. The 25,000-square-foot facility has expanded testing capabilities and new equipment for performing high-quality, efficient testing, resulting in more robust lab offerings for the people of Indiana.

Among regions, North America is expected to hold a dominant position in the global endocrine testing products market over the forecast period, owing to increasing prevalence of chronic diseases such as diabetes in the region. For instance, according to the Center for Disease Control and Prevention (CDC): 2021, in the U.S., 37.3 million people have been diagnosed with diabetes. Moreover, in the U.S., 96 million people aged 18 years or older and 26.4 million people aged 65 years or older have prediabetes.

Key players operating in the global endocrine testing products market include F. Hoffmann-la Roche Ag, Abbott Laboratories, Agilent Technologies, BioMerieux S.A., Bio-Rad Laboratories, Inc., Siemens Healthineers, Danaher Corporation, DiaSorin S.p.A., Immunodiagnostic Systems, Laboratory Corporation of America Holdings (LabCorp), Fujirebio, Inc., Thermo Fisher Scientific Inc., Quest Diagnostics, Sysmex Corporation, MP Biomedicals, Ortho Clinical Diagnostics, and Meridian Life Science, Inc. 

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Detailed Segmentation:

Global Endocrine Testing Products Market, By Product Type:

• Instruments/Analyzers
• Consumables

Global Endocrine Testing Products Market, By Technology:

• Liquid Chromatography-Mass Spectrometry
• Immunoassay
• Monoclonal and Polyclonal Antibody
• Electrochemical/Biosensor (Sensor)
• Clinical Chemistry

Global Endocrine Testing Products Market, By Test Type:

• Adrenocorticotropic Hormone (ACTH)
• Calcitonin
• Calcium
• Cortisol
• Catecholamine
• Dehydroepiandrosterone Sulfate (DHEA-S)
• Estradiol
• Follicle Stimulating Hormone
• Growth Hormone
• Luteinizing Hormone
• Prolactin
• Progesterone
• Testosterone
• Thyroid Stimulating Hormone
• Vitamin D
• Others

Global Endocrine Testing Products Market, By Disease Indication:

• Adrenal Insufficiency and Addison Disease
• Bone Disorders
• Cancer (Tumor)
• Infertility
• Renal Diseases
• Metabolic (Including Diabetes) and Gastrointestinal Disorders
• Pituitary Disorders
• Thyroid Disease
• Others

Global Endocrine Testing Products Market, By End User:

• Hospitals & Clinics
• Diagnostic Laboratories
• Satellite Laboratories
• Commercial Labs
• Home Care Settings
• Ambulatory Care Centers

Global Endocrine Testing Products Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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