According to the Global Endocrine Testing Product Market, by Product Type (Instruments/Analyzers and Consumables), by Technology (Liquid Chromatography-Mass Spectrometry, Immunoassay, Monoclonal and Polyclonal Antibody, Electrochemical/Biosensor (Sensor), and Clinical Chemistry), 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, and Others), 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, and Others), by End User (Hospitals & Clinics, Diagnostic Laboratories, Satellite Laboratories, Commercial Labs, Home Care Settings, and Ambulatory Care Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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).
Market players are indulged in inorganic growth activities, such as acquisitions, in order to expand their product portfolio. This is expected to drive growth of the global endocrine testing products market over the forecast period. For instance, in June 2018, bioMerieux S.A., a multinational biotechnology company, acquired Astute Medical Inc., a medical diagnostics company to strengthen its offering of high medical value immunoassay biomarkers for improved patient care.
Market players are indulged in receiving product approvals from the regulatory authorities, in order to increase the market share in the global market. For instance, in February 2019, HemoCue, a subsidiary of Danaher Company, received the U.S. Food and Drug Administration (USFDA) 510(k) clearance for the HemoCue Hb 801 System, a point-of-care hemoglobin test, and announced the launch of product in the U.S. market. This strategy will enhance the testing process with more number of kits for the hemoglobin test in the U.S. labs.
Global Endocrine Testing Products Market- Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus disease (COVID-19) pandemic is expected to restrain growth of the global endocrine testing products market over the forecast period. COVID-19 is the recent pandemic outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) as a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the number of new cases are decreasing after the April 17, 2022. Therefore, as of April 17, 2022, around 500 million cases and over 6 million deaths have been reported.
Governments across the globe are taking various initiatives to combat COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention started working with the All-of-Government and All-of-America Approach to increase testing capacity, improve case detection, and contact tracing across all states in the U.S.. Moreover, the Centers for Disease Control and Prevention (CDC) is working with all the states in the U.S. and local partners to define the circumstances where testing of asymptomatic people are likely to be helpful in controlling the pandemic, as well as the best application of surveillance serologic testing can lead to better diagnostics rate.
Browse 39 Market Data Tables and 25 Figures spread through 208 Pages and in-depth TOC on Global Endocrine Testing Products Market, by Product Type (Instruments/Analyzers and Consumables), by Technology (Liquid Chromatography-Mass Spectrometry, Immunoassay, Monoclonal and Polyclonal Antibody, Electrochemical/Biosensor (Sensor), and Clinical Chemistry), 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, and Others), 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, and Others), by End User (Hospitals & Clinics, Diagnostic Laboratories, Satellite Laboratories, Commercial Labs, Home Care Settings, and Ambulatory Care Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the endocrine testing products market, click the link below:
https://www.coherentmarketinsights.com/market-insight/endocrine-testing-market-1755
Market players are indulged in expanding its businesses in different areas of endocrinology. This is expected to increase the growth of the global endocrine testing products market, over the forecast period. For instance, in 2019, Sysmex Corporation expanded the company’s core businesses in the fields of hematology, urinalysis, hemostasis, and immunochemistry, by inauguration of Technopark East Site, in Japan. The new site is focusing on the development, production, and distribution of bio-diagnostic reagents. The new site is approximately 29,400m2, and the company invested around 0.16 billion for the new site.
Key Takeaways of the Endocrine Testing Products Market:
- The global endocrine testing products market is expected to exhibit a CAGR of 8.9% over the forecast period (2022-2030), owing to growth in potential markets, especially in Europe. While North America accounted for the major market share.
- Market players are indulged in launching new products and this is expected to increase the growth of the global endocrine testing products market, over the forecast period. For instance, in August 2020, Immunodiagnostic Systems Holdings PLC, a leading in-vitro diagnostic solution announced the launch of the IDS Cortisol assay on the IDS-iSYS Multi-Discipline Automated System. The IDS cortisol assay is a fully automated Chemiluminescent Immunoassay (CLIA) assay for measuring cortisol levels in human serum and plasma. Cortisol concentrations can be measured to aid in the diagnosis and treatment of adrenal gland disorders such as hypo- and hypercortisolism, also known as addison's disease and cushing's syndrome.
- Some of the major 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.
