CHOLESTEROL TESTING SERVICES MARKET ANALYSIS

The global cholesterol testing services market was valued US$ 21.60 Bn in 2023 and is expected to reach US$ 39.66 Bn by 2031 growing at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

Global Cholesterol Testing Services Market Regional Insights

• North America is expected to be the largest market for cholesterol testing services during the forecast period, which accounted for over 35.5% of the market share in 2023. The growth of the market in North America is attributed to the high prevalence of chronic diseases, established healthcare infrastructure, and high adoption of advanced screening tests.
• Europe market is expected to be the second-largest market for cholesterol testing services, which accounted for over 26.1% of the market share in 2023. The growth of the market is attributed to the rising awareness about preventive healthcare and medical guideline recommendations for regular screening.
• Asia Pacific is expected to be the fastest-growing market for cholesterol testing services, accounting for over 20.3% of the marker share during the forecast period. This is attributed to increasing lifestyle impacted diseases and the growing geriatric population.

Figure 1. Global Cholesterol Testing Services Market Share (%), by Region, 2023

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Analyst’s Views on the Global Cholesterol Testing Services Market

The cholesterol testing services market is projected to grow steadily driven by rising obesity and cardiac issues. Growing health awareness among consumers and focus on preventive healthcare will drive more people to opt for regular cholesterol checks. Moreover, advancement in testing technologies allowing quick and accurate results at home with finger prick samples will boost the access and demand for such services.

However, economic slowdown due to the pandemic can potentially restrain spending on non-essential healthcare services to some extent in the short-run. Additionally, free cholesterol screening camps conducted by governments and Non-Government Organizations (NGOs) occasionally may impact the revenue of paid testing services.

North America dominates the current market aided by the presence of major laboratories and favorable reimbursement policies for prescribed tests. Growing geriatric population susceptible to heart ailments also supports the market in the region. Asia Pacific is expected to emerge as the fastest growing regional market in the longer run supported by rising lifestyle diseases, growing medical tourism, and increasing health expenditure in emerging economies.

Overall, with COVID-19 gradually receding, the growth momentum of this market is anticipated to pick up further as more people prioritize healthcare and focus on preventive screenings. Furthermore, innovations to make testing more affordable and accessible will expand the reach of such services. While economic slowdown remains a near-term challenge, and the long-term prospects for this industry seem positive.

Global Cholesterol Testing Services Market Drivers:

• Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular disease, such as coronary artery diseases, High blood pressure, heart attack, arrhythmia, and congenital heart disease, are the major factors driving the market growth over the forecasted period. For instance, according to American Heart Association ‘2022 Heart Disease & Stroke Statistical Update Fact Sheet Global Burden of Disease’ published in December 2022, globally, it was estimated that in 2020, 244.1 million people were living with ischemic heart disease (IHD), and it was more prevalent in males than in females. The global prevalence of getting recurrent stroke in 2020 was 89.1 million people, whereas that of ischemic stroke was 68.2 million. In 2020, high low-density lipoprotein cholesterol accounted for 4.5 million deaths.
• Growing geriatric population: The growing geriatric population across the world is leading to the increased demand for cholesterol testing services. As people grow older, their risk of developing cardiovascular diseases and conditions like heart attacks increases. These factors are driving the market growth over the forecasted period. For instance, according to the World Health Organization (WHO) publication in ‘Ageing and Health’ by 2030, around one in six people in the world will be aged 60 years or above. Meanwhile the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By the year 2050, the world’s population of people aged 60 years and older will double (2.10 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.

Global Cholesterol Testing Services Market Opportunities:

• Increased adoption of point-of-care testing devices: The increased adoption of point-of-care (POC) testing devices presents a great opportunity for cholesterol testing services to expand. POC tests allow for on-the-spot cholesterol screening without needing to visit a hospital or diagnostic lab. Point-of-care testing is beneficial not just for patients, but also healthcare providers. It offers vital health information quickly and helps clinicians devise appropriate treatment plans without delay. This can improve clinical outcomes. For example, according to the 2021 Global Health Observatory data by the World Health Organization, people with undiagnosed and untreated high total cholesterol have over a 50% increased risk of heart attacks and strokes compared to the general population. With immediate point-of-care cholesterol results, physicians can identify at-risk patients and initiate needed lifestyle or medication therapy in a timely manner. This can significantly reduce complications arising from uncontrolled high cholesterol levels.
• Growing popularity of home testing kits: The growing popularity of home testing kits present a valuable opportunity for cholesterol testing services to expand their market reach. With people becoming increasingly health conscious and preferring the comfort of their own homes for medical tests, more individuals are now opting for home cholesterol testing kits. This trend was further strengthened during the COVID-19 pandemic as people tried to minimize trips to hospitals and clinics. For instance, a 2022 report from the American Heart Association estimates that by 2035, over 130 million American adults will have high LDL or bad cholesterol putting them at an increased risk of heart diseases and strokes.

Global Cholesterol Testing Services Market Trends:

• Market consolidation through mergers and acquisitions: The cholesterol testing services market has seen significant consolidation over the past few years through various mergers and acquisitions. Large diagnostic companies have been acquiring smaller laboratories to expand their reach and testing capabilities. For instance, in November 2022, Quest Diagnostics, a global provider of diagnostic information services, announced the acquisition of select assets of LabCare Plus,cthe outreach laboratory services business of Summa Health, a large integrated health system. This acquisition will broaden Quest Diagnostic’s access to diagnostic innovation and insights, empowering better health outcomes for more communities.

Global Cholesterol Testing Services Market Restraints:

• High cost of advanced testing services: The high cost of advanced cholesterol testing services is limiting widespread adoption and acting as a hurdle in the further growth of the global cholesterol testing services market. Conventional cholesterol tests that measure total cholesterol, HDL, and LDL levels are becoming insufficient on their own to determine the risk of heart diseases. More advanced tests that measure additional lipid profiles and ratios are useful to get a comprehensive picture. However, these specialized tests, such as advanced lipid panel, apolipoprotein B, lipoprotein (a), etc., are quite expensive for general public use. For instance, as per data from Centers for Disease Control and Prevention (CDC), the average cost of a basic lipid panel test in the U.S. ranges from U.S. $50 to U.S. $100 while an advanced lipid panel can cost over U.S. $200.

Recent Developments

Acquisitions and partnerships

• In March 2023, Quest Diagnostics, a leading provider of diagnostic information services, announced the acquisition of selected assets of Northern Light Laboratory, the outreach laboratory services business of Northern Light Health, a large integrated healthcare system in Maine, U.S.
• In April 2021, SYNLAB International GmbH, a Germany-based pan-European clinical laboratory and medical diagnostic services, announced a partnership with Guy’s and St Thomas’, and King’s College Hospital NHS Foundation Trusts. This partnership emphasizes SYNLAB International GmbH’s commitment to medical and operational excellence across the entire field of medical diagnostics.
• In December 2020, Clinical Reference Laboratory, a U.S.-based privately-held clinical testing laboratory in the U.S., announced the acquisition of Confirm BioSciences, a provider of comprehensive screening tools and solutions. This acquisition will expand Confirm Biosciences's access to lab testing services and R&D capabilities.

Figure 2. Global Cholesterol Testing Services Market Share (%), by Service Type, 2023

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Top Companies in the Global Cholesterol Testing Services Market

• Quest Diagnostics Incorporated
• Spectra Laboratories Inc.
• Bio-Reference Laboratories Inc.
• Eurofins Scientific 
• Clinical Reference Laboratory, Inc.
• ACM Medical Laboratory
• Adicon Clinical Laboratory
• Unilabs
• SYNLAB International GmbH
• Laboratory Corporation of America Holdings (LabCorp)
• Bioscientia
• CML Healthcare
• LloydsPharmacy

Definition: Cholesterol is a waxy, fat-like substance found in blood and every cell of the body. Some cholesterol are necessary to keep cells and organs healthy. A cholesterol test is a blood test that measures the amount of cholesterol and certain fats present in blood. High LDL levels can cause the buildup of a sticky substance called plaque in the arteries causing increased risk of coronary artery disease and other heart diseases.

Cholesterol is the precursor to vitamin D and certain hormones hence, if there is increase in cholesterol levels in the blood could lead to the formation of plaque (atherosclerosis). High cholesterol has no symptoms. A blood test is the only way to detect high cholesterol. Cholesterol testing aids in measuring cholesterol and triglyceride levels in the blood and it is called as lipoprotein profiling or lipoprotein analysis. Blood cholesterol testing aids in reducing the risk of strokes, heart attack, and peripheral artery diseases. The key drivers of the global cholesterol testing services market include the increasing prevalence of cardiovascular diseases, growing geriatric population, and the development of advanced cholesterol screening tests.

The global cholesterol testing services market is segmented based on service type, age group, service provider, and region. By service type, the market is segmented into total cholesterol test, LDL cholesterol test, HDL cholesterol test, triglyceride test, and others. The total cholesterol test segment accounted for the largest market share in 2023. The high share of this segment is due to the fact that it provides data for good and bad cholesterol in one test.