Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Cholesterol Testing Services Market - Insights
Cholesterol is an organic molecule, which is found in all the cells of body. Cholesterol is the precursor to vitamin D and certain hormones. Increase in cholesterol levels in the blood could lead to 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 to reduce the risk of stroke, heart attack, and peripheral artery diseases.
Increasing prevalence of high cholesterol among population is expected to drive growth of the global cholesterol testing services market in the near future
According to a study published by Center for Disease Control and Prevention in 2012, about 95 million adults in the U.S. aged 20 years or older have total cholesterol levels greater than 200 mg/dL, and nearly 29 million adults have total cholesterol levels higher than 240 mg/dL in the U.S. As per medical standard, total cholesterol level below 200 mg/dl is good, and between 200-239 mg/dl is called as borderline. Increasing prevalence of high cholesterol among the populace is expected to increase demand for its diagnosis and testing, which conversely is expected to create a conducive environment for growth of global cholesterol testing services market.
The global cholesterol testing services market was valued at US$ 11.5 Bn in 2016 and is expected to witness a CAGR of 7.8% over the forecast period (2017–2025).
Figure 1. Global Cholesterol Testing Services Market Share (%), By Region, 2017 & 2025
Source: Coherent Market Insights Analysis (2017)
Increasing number of obese and geriatric population is expected to fuel growth of the market
Obese and geriatric population is at high risk of elevated cholesterol levels, as the concentration of cholesterol in plasma increase with age, which is expected to fuel growth of the cholesterol testing services market. According to a study published by National Center for Biotechnology Information (NCBI) in 2013, the cholesterol level increases in men from puberty to 45-55 years. Moreover. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) 2016, Asia Pacific region constitutes around 60% of the world’s geriatric population. It is estimated that in 2016, around 547 million people were aged above 60 years in Asia Pacific region and this number is expected to double and reach around 1.3 billion by 2050.
According to a study published in Centers for Disease Control and Prevention in 2014, the prevalence of obesity was around 36.5% among adults in the U.S. Prevalence of obesity among middle-aged adults aged 40–59 (40.2%) years and older adults aged 60 and above years (37.0%) was higher than among younger adults aged 20–39 (32.3%), prevalence of obesity among women (38.3%) was higher than among men (34.3%) in U.S. Furthermore, increasing awareness among population regarding regular health checkup in both developed and emerging economies is expected to fuel growth of the global cholesterol testing services market.
Moreover, increasing consumption of alcohol and factors such as physical inactivity, could lead to risk of high cholesterol levels. Furthermore, increasing smoking could lead to high cholesterol level, which is expected to increase demand for its diagnosis and drive cholesterol testing services market growth. For instance, according to a study published by World Health Organization, in 2015, over 1.1 billion people smoked tobacco, globally.
Presence of low diagnostic laboratories and skilled professional in rural areas of emerging economies such as India, China, and Brazil is the major factor restraining growth of the cholesterol testing services market over the forecast period.
Key players operating in the global cholesterol testing services market include Quest Diagnostics Incorporated, Spectra Laboratories Inc., Bio-Reference Laboratories Inc., Eurofins Scientific (Luxembourg), Clinical Reference Laboratory, Inc. (CRL), ACM Medical Laboratory, Adicon Clinical Laboratory, Unilabs, SYNLAB International GmbH, and Laboratory Corporation of America Holdings (LabCorp).