Cholesterol is a waxy, fat-like substance found in every cell of our body. If you have too much cholesterol in your blood, it can combine with other substances in your blood to form plaque that sticks to the walls of the arteries. A complete cholesterol test is also referred to as a lipid panel or lipid profile. Your doctor will be able to measure the amount of "good" and "bad" cholesterol and triglycerides, a type of fat in the blood. The market for cholesterol testing services is expected to reach $ 19.68 billion by 2023, compared to an estimated $ 13.42 billion in 2018 and a growth rate of 8.2% over the forecast period.
Key drivers driving the market growth include an increase in the incidence of cardiovascular disease, a sedentary lifestyle, an increase in the geriatric population, which provides a large number of patients, and government initiatives to improve health care delivery. Besides, improvements in healthcare spending and public awareness of cardiovascular disease, their causes, treatment, and prevention are also driving market growth. The market for cholesterol testing services is expected to reach $ 19.68 billion by 2023, compared to an estimated $ 13.42 billion in 2018 and a growth rate of 8.2% over the forecast period. North America is expected to have most of the market, followed by Europe and Asia.
Market Drivers and Restrictions:
It is expected that the world market for cholesterol testing services will see significant growth in the coming years with an increased incidence of cardiovascular disease and obesity. Another factor that will drive the market is the preference of physicians for laboratory testing rather than self-testing, as well as raising awareness and introducing preventive medical treatments. Government initiatives will also improve the quality of the tests. Besides, the rise of the geriatric population around the world will increase the incidence of cardiovascular disease.
Besides, increases in healthcare spending and public awareness of cardiovascular disease, their causes, treatment, and prevention are also driving market growth.
High cholesterol levels lead to health hazards such as the acute risk of stroke and heart disease and cause a large number of deaths. Cholesterol screening services enable the early detection of high-cholesterol-related problems to avoid complications and increase patient survival.
On the other hand, self-test / growth in the domestic market and the emergence of non-invasive test methods for cholesterol are expected to restrict the growth of this market for cholesterol testing services to some extent.
Geographically, the market can be divided into North America, Europe, Asia, Latin America, the Middle East, and Africa. North America is expected to dominate the market for cholesterol testing in 2018, and the United States is an essential part of it. Asia is expected to be the fastest growing region in terms of CAGR over the forecast period. This is due to the large population base, the increase in cardiovascular disease, and the increasing number of test facilities in Asia.
The major players in the market for cholesterol testing are Laboratory Corporation of America Holdings (Lab Corp.) (USA), Quest Diagnostics Incorporated (USA), Eurofins Scientific (Luxembourg) and Spectra Laboratories Inc. (USA), Unilabs (Switzerland), SYNLAB International GmbH (Germany), Bio-Reference Laboratories Inc. (USA), Clinical Reference Laboratory, Inc. (CRL) (USA), ACM Medical Laboratory (USA).) And Adicon Clinical Laboratory (China).
Highlights of the research report:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type of Customer
5.1.6 Health Plan
5.1.5 Y-o-Y Growth Analysis, By Type of Customer
5.1.6 Market Attractiveness Analysis, By Type of Customer
5.1.7 Market Share Analysis, By Type of Customer
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type of Customer
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Type of Customer
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type of Customer
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Laboratory Corporation of America Holdings (Lab Corp.)
8.3 Quest Diagnostics Incorporated
8.4 Eurofins Scientific
8.5 Spectra Laboratories Inc.
8.7 SYNLAB International GmbH
8.8 Bio-Reference Laboratories Inc.
8.9 Clinical Reference Laboratory, Inc.
8.10 ACM Medical Laboratory
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures