Global Metabolic Testing Market, by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 596.3 Million in 2022, and is expected to exhibit a CAGR of 7.6% over the forecast period (2022 – 2030).
Increasing launch of advanced metabolic testing devices and high prevalence of lifestyle diseases is expected to drive the global metabolic testing market growth. Major players in market are also focused on investing in research and development of novel metabolic testing devices. For instance, in March 2018, Cosmed srl, diagnostic devices company, launched Q-NRG, a metabolic monitor for measuring energy expenditure in spontaneous breathing and mechanically ventilated patients admitted in ICU(intensive care unit).
For instance, on January 7, 2022, Diagnostic Solutions Laboratory, launched a metabolomics test, The OMX test (examines urine and plasma metabolites which include amino acids, organic acids) provides practitioners with deeper insights regarding the metabolic function of the patients. The single report is provided with combination of both organic and amino acid metabolites.
Global Metabolic Testing Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus or COVID-19 outbreak started in Wuhan, China in 2019 and has spread across all the continents of the world, affecting various industries globally. The economy in countries all over the world such as India, Italy, Bangladesh, Sri Lanka, the U.S., Morocco, and others has been disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020.
Increasing use of electrocardiogram for the diagnosis of acute Covid-19 has driven growth of the global metabolic testing market. For instance on July 13, 2022, GE Healthcare, a medical technology and digital solutions company, published an article on ECG’s (electrocardiogram) Role in COVID-19 Patient Management, which reported that COVID-19 has been shown to have a significant impact on the cardiovascular system and cardiac disease management which remains a key focus. ECG (electrocardiogram) is a critical part of the process during the diagnosis of COVID-19, based on the timing of ECG with QT prongation (a measure of delayed ventricular repolarisation).
Thus, impact of the Coronavirus (COVID-19) pandemic has driven growth of the global metabolic testing market during the forecast period.
Global Metabolic Testing Market: Key Developments
Increasing new launches of metabolic tests among the key players to develop new metabolic testing devices is expected to drive growth of the global metabolic testing market. For instance, in March 2021, NIPD Genetics, a biotechnology company, had announced the launch of Evartia, a new genetic test for people suspected of having inherited metabolic diseases. Evartia covers the major classes of inherited metabolic diseases and is offered as a single, detailed panel of 223 genes involved in metabolic pathways.
In April 2019, CENTOGENE, a rare disease company, announced the launch of CentoMetabolic, a first-line test for the widest range of rare genetic metabolic diseases. By combining genetic and biochemical testing, CentoMetabolic allows for immediate confirmation, and for several diagnoses a better understanding of the course of the disease, enhanced treatment monitoring, and tailored treatment guidance. CentoMetabolic includes in detection of as many as 166 genes.
Browse 35 Market Data Tables and 34 Figures spread through 179 Pages and in-depth TOC on Global Metabolic Testing Market by Product Type (Metabolic Carts (Portable and Bench-top), Body Composition Analyzers (Portable and Bench-top), and ECGs/EKGs (Portable and Bench-top)), by Test Type (VO2 Max Analysis, RMR Analysis, and Body Composition Analysis), by End User (Hospitals & Clinics, Sports Performance Lab, and Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2030
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/metabolic-testing-market-1652
Key players in market are focused on adopting merger, acquisition and collaboration strategies in order to expand their product portfolio and enhance their market share. For instance, In May 2018, GE Healthcare, a manufacturer and distributor of diagnostic imaging agents and radiopharmaceuticals, announced a marketing collaboration agreement with FitTrace, a company that offers cloud-based software for analysis and reporting of body composition. This collaboration integrates the reliability and versatility of GE Healthcare’s DXA technology (dual-energy x-ray absorptiometry) with cloud-based reporting, sharing and advanced analytics capabilities from FitTrace.
Key Takeaways of the Global Metabolic Testing Market:
- Global metabolic testing market is expected to exhibit a CAGR of 7.6% over the forecast period (2022–2030), owing to increasing product launches and approvals of metabolic devices and robust pipeline of novel metabolic testing devices
- North America metabolic testing market is expected to hold dominant position in the global metabolic testing market over the forecast period. This is due to presence of large customer base and key players in the region that are increasingly focused on new product launches. For instance, in January 2019, KORR Medical Technologies, metabolic rate and VO2 max testing Equipment Company, launched Metabolic Meal Plan application, which can help clinicians to implement, manage, and track clients’ weight-loss regimens.
- Europe metabolic testing market is expected to account for the second largest market share in the global metabolic testing market due to presence of key manufacturers of metabolic testing market and their active focus on launch of new products. For instance, in November 2021, COSMED srl, a metabolic company, launched the 2° generation of OMNIA Software, a comprehensive data management platform for metabolic, lung function and body composition assessment. The launch provides improved usability and the wide range of new functionalities such as Additional TGV computation techniques are available, and Automatic Interpretation can be customised using strings and chosen variables/parameters.
- Major players operating in the global metabolic testing market include, COSMED srl, Vyaire Medical, Inc., Geratherm Medical AG, MGC Diagnostics Corporation, CORTEX Biophysik GmbH, General Electric Company, Microlife Medical Home Solutions, Inc., OSI Systems, Inc., AEI Technologies, Inc., KORR Medical Technologies, Inc., Iworx Systems, GE Healthcare, Hologic, Inc, Geratherm Medical AG, and Parvo Medics