Yahoo Finance Cholesterol test market Is Growing With A Good Pace In Coming Time: Industry Size, Trends & Forecast by Douglas Insights
Growth in demand for cholesterol tests is likely to be driven by the growing ageing population and increasing awareness about the link between high cholesterol and cardiovascular disease.
Isle of Man, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The cholesterol test market is rapidly growing worldwide. The industry is segmented by product type, test type, and region. Product type includes testing strips and test kits, while tests include total cholesterol tests, HDL (high-density lipoprotein), LDL (low-density lipoprotein) and Triglycerides tests. As the market has an upward trajectory, industry players aggressively invest in research and development to capture a more significant market share. Therefore, Douglas Insights added cholesterol tests research reports to its comparison engine to help them make better investment decisions and tap lucrative business growth opportunities.
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Market Overview:
The cholesterol tests market is expected to grow at a compound annual growth rate of 8.37 per cent from 2022 to 2029. Multiple factors are likely to contribute to the market growth. The primary market driver is the decrease in physical activities. The significant drop in physical activity is associated with the sedentary nature of jobs, passive transportation modes, increasing screen time and preference for passive leisure activities rather than playing sports.
Studies reveal that people of all ages are insufficiently physically active. Though World Health Organisation recommends engaging in at least 60 minutes of vigorous or moderate-intensity physical activity, most people fail to do so. Hence, it is becoming increasingly common for people to have high cholesterol levels. Physical activities like exercise, swimming and jogging effectively lower LDL (bad) cholesterol and increase HDL (good) cholesterol levels in the body. These activities can easily protect people from the risk of developing cardiovascular diseases.
Since a drop in physical activity and more people are suffering from cardiovascular diseases, the need for cholesterol level testing strips and kits is rising. Moreover, as high cholesterol usually has no symptoms or signs, it is vital to get it tested. A complete cholesterol test can help determine high cholesterol levels and the risk of heart attacks and other types of cardiovascular diseases and diseases of the blood vessels.
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Market Drivers
On the other hand, increasing health awareness is another key driver of market growth. Health-conscious people seek regular screenings and check-ups to manage their cholesterol levels better. This attitudinal shift has indeed triggered the demand for OTC self-testing kits. These testing devices help patients check their cholesterol levels and accordingly make lifestyle changes and effective healthcare measures to minimize the risk of cardiovascular diseases, which can block arteries and be fatal. With cholesterol test kits and devices, early detection is possible and much needed for quality and healthy living.
Key Players
The growing demand for cholesterol testing products has increased the competition globally. Some of the top industry players striving relentlessly to capture bigger markets and penetrate new ones are AstraZeneca, Boston Scientific Corporation, Medtronic, Abbott, LivaNova PLC, Quest Diagnostics Incorporated and Spectra Lab, Inc. As per the regional analysis, North America has the highest market share and is expected to lead the global industry for the forecasted period, followed by the APAC region, including countries like China and Japan. APAC region has a high ageing population, so the demand for cholesterol testing devices is expected to soar in the coming years.
Key questions answered in this reportCOVID 19 impact analysis on global Cholesterol test industry.
What are the current market trends and dynamics in the Cholesterol test market and valuable opportunities for emerging players?
What is driving Cholesterol test market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low and middle-income economies investing in the Cholesterol test market?
Key growth pockets on the basis of regions, types, applications, and end-users
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
Statistics on Cholesterol test and spending worldwide
Recent trends across different regions in terms of adoption of Cholesterol test across industries
Notable developments going on in the industry
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2031 (forecast)
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