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.
Endocrine systems consist of various glands, which release specific hormones into the bloodstream in human body. These hormones are carried with blood throughout the body and control various functions of the body such as metabolism, growth and development, reproduction, stimuli response, and homeostasis. Endocrine system consists of various glands such as hypothalamus, pancreas, adrenal glands, thyroid, and pituitary gland. The hormones secreted by these glands are used to maintain various biological functions in human system. Therefore, imbalance in the concentrations of hormones in human system may lead to certain conditions. Endocrine testing consists of diagnosis of concentration of endocrine hormones in human system such as Estradiol, Testosteron, Progesterone, Insulin, Thyroid, Luteinizing, Cortisol DHEA-S, Prolactin, Follicle stimulating hormone, Human chorionic gonadotropin, and Hormone. The testing helps to understand the concentration of specific hormones in blood.
Figure 1. Global Endocrine Testing Market Value (US$ Mn), 2016-2027
The global endocrine testing market size is estimated to be valued at US$ 3,403.0 million in 2020 and is expected to exhibit a CAGR of 5.3 % over the forecast period (2020-2027).
Significant growth of endocrine testing market is mainly due to factors such as increasing prevalence of endocrine related disorders such as thyroid related conditions (hyperthyroidism and hypothyroidism), diabetes, hypogonadism, hypergonadism, and adrenal gland related conditions (hypoadrenocorticism and hypercorticism). According to American Thyroid Association in 2017, 20 million American population is suffering from thyroid related conditions and 60% of the population are unaware about the thyroid related conditions they are suffering from. Moreover, according to diabetes.co.uk, a global diabetes community in 2019, 30 million Indian population is diagnosed with diabetic conditions and 9% of the population belongs to rural areas in India. Imbalance of follicle stimulating hormone can lead to conditions such as infertility and sexual disorders. According to the report of Maternal Health Task Force, in 2017 around 50 million couples suffer from problems such as infertility and sexual disorders.
Endocrine Testing Market Report Coverage
||Market Size in 2019:
||US$ 3,403.0 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 4,878.1 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of the Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Test: Thyroid, Insulin, Follicle Stimulating Hormone, Luteinizing, Hormone, Estradiol, Testosterone, Human Chorionic Gonadotropin, Prolactin, Cortisol DHEA-S, Others.
- By Diagnostic Technology: Immunoassay, Tandem Mass Spectroscopy, Monoclonal and Polyclonal antibodies, Sensors Technologies, Clinical Chemistry, Others.
- By End User: Hospitals, Diagnostic Laboratories, Others.
Abbott Laboratories, Thermo Fisher Scientific, Bio-Rad Laboratories, Inc, Beckmann Coulter, Inc, Agilent Technologies, Inc, Siemens Healthineers AG, BioMérieux SA, Quest Diagnostics, and F. Hoffmann-La Roche AG
- Commercial tie-ups and acquisitions by key players
- Increasing incidence of endocrine related conditions globally
|Restraints & Challenges:
- Lack of skilled professionals for carrying out testing procedures
- Liquid chromatography-tandem mass spectrometry requires high cost instrument and highly specialized skilled individuals
Global Endocrine Testing Market- Impact of Coronavirus (Covid-19) Pandemic
There is a bidirectional relationship between COVID-19 and endocrine system disorders. According to report of Journal of Cytology in April 2020, various guidelines such as social distancing, use of personal protection equipment, management of spills of blood while collecting blood during the testing procedures such as fine needle aspiration (FNA) are necessary to avoid COVID-19 infections. Moreover, according to report by Touch Endocrinology, a health professional service in the U.K., in March 2020, the patients should take two abnormal glycemic tests in case of asymptomatic individuals while diagnosis of diabetes and must be aware of hyperglycaemia in case of symptomatic individual with COVID-19 infections.
Figure 2. Global Endocrine Testing Market Share (%), by Region, 2020
Among regions, in North America endocrine testing market, key companies are focusing on strategic mergers and acquisitions to expand the number of testing facilities and advancements in testing procedures, which is expected to drive the market growth in this region. For instance, in September 2020, Empower Clinics announced the acquisition of Kai Medical Laboratory, LLC. Under this agreement, Kai Medical Laboratory offers Empower Clinics with diversified testing facilities in endocrinology, hormone testing, toxicology, and immunology testing.
Moreover, in Europe endocrine testing market, key companies are focusing on strategic partnerships for the development in endocrinology diagnosis procedures, which is expected to drive the global endocrine testing market growth in this region. For instance, in 2019, the European Federation of Ethical and Alternative Banks (FEBEA) and the Fondation de la Maison de la Chimie, a non-profit association, entered into partnership with French Ministry of Ecological and Solidarity Transition and announced launch of PEPPER, a public-private research platform on identification of endocrine disruptors and their associated conditions.
Major players operating in the global endocrine testing market include Abbott Laboratories, Thermo Fisher Scientific, Bio-Rad Laboratories, Inc, Beckmann Coulter, Inc, Agilent Technologies, Inc, Siemens Healthineers AG, BioMérieux SA, Quest Diagnostics, and F. Hoffmann-La Roche AG.