Cholesterol Testing Products & Services Market Segments Analysis & Growth Forecast Report
The global cholesterol testing products and services market size is expected to reach USD 26.8 billion by 2026, expanding at a CAGR of 7.9% during the forecast period, according to a new report by Grand View Research, Inc. Insufficient physical activity leads to high cholesterol levels and other conditions, such as obesity, diabetes, and cardiovascular diseases. This factor is anticipated to drive the demand for cholesterol testing products and services in near future.
There is an increased need to control high blood cholesterol levels, in addition to other risk factors such as smoking, high blood pressure, and obesity. This has led to high adoption of diagnostic tools and services. According to the Journal of the American Medical Association (JAMA), while the cholesterol levels in the U.S. youth have improved from 1999 to 2016, only 50% of adolescents and children have the ideal cholesterol range and 25% of them are in the clinically high range.
According to the Journal of the American College of Cardiology, in 2018, 31 million of the U.S. adults had high total cholesterol and around one-third of them had high levels of Low-Density Lipoprotein (LDL). Growing number of people being overweight in U.S. is another factor driving the demand for cholesterol testing products and services. Increasing geriatric population is one of the significant factors driving the market growth. This group of population is prone to various cardiovascular diseases such as stroke and heart attack. Thus, increasing cholesterol level is a substantial risk factor for the aging population, which is expected to drive the product demand.
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Further key findings from the study suggest:
- On the basis of type of customers, diagnostic center held the largest market share in 2018 owing to growing awareness regarding regular health checkups for maintaining cholesterol levels
- Government agencies help in terms of favorable insurance policies and also focus on preventive healthcare, to encourage cholesterol testing services facilitating market growth
- Physicians/providers and hospitals segment is anticipated to register significant growth over the forecast period owing to a rise in preference due to the prevalence of cardiovascular diseases
- North America held the largest revenue share in 2018 owing to the rise in obesity and heart diseases coupled with favorable insurance policies
- Asia Pacific is anticipated to witness the fastest CAGR over the forecast period due to high population base and rising number of diagnostic centers
- Some of the key manufacturers operating in the cholesterol testing products and services market include Quest Diagnostics Incorporated; Cell Biolabs, Inc.; Randox Laboratories Ltd.; Eurofins Scientific; and Synlab International GmbH
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Grand View Research has segmented the global cholesterol testing products and services market report on the basis of type of customers and region:
Cholesterol Testing Products and Services Type of Customer Outlook (Revenue, USD Million, 2015 – 2026)
- Diagnostic Centers
- Physicians/Providers and Hospitals
- Government Agencies
Cholesterol Testing Products and Services Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.