Lipid Panel Testing Global Market Report 2023
Major players in the lipid panel testing market are Abbott, Beckman Coulter Inc., F. Hoffmann-La Roche Ltd., Randox Laboratories Ltd., Thermo Fisher Scientific Inc., PTS Diagnostics, Quest Diagnostics Incorporated.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lipid Panel Testing Global Market Report 2023" - https://www.reportlinker.com/p06479732/?utm_source=GNW
, Alere Inc., EuroMedix, Boston Heart Diagnostics Corporation, Eurofins Scientific, Spark Diagnostics Pvt Ltd., Everlywell Inc., Horiba ABX SAS, and Siemens Healthcare GmbH.
The global lipid panel testing market is expected to grow from $9.43 billion in 2022 to $10.28 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lipid panel testing market is expected to reach $13.93 billion in 2027 at a CAGR of 7.9%.
The lipid panel testing market consists of revenues earned by entities by providing high cholesterol testing and lipoprotein analysis.The market value includes the value of related goods sold by the service provider or included within the service offering.
The lipid panel testing market also includes sales of cholesterol test kit, lipid profile analyzer, and cholesterol self-test kit which are used in providing testing services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Lipid panel testing to a blood test that measuring the levels of various lipids or fats in the blood. It is used to assess a person’s risk of developing cardiovascular disease.
North America was the largest region in the lipid panel testing market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in lipid panel testing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main lipid panel testing product and services are devices, kits, and services.Devices, such as analyzer machines, refer to the equipment used to perform lipid panel testing.
The various prescription modes are prescription-based testing, and otc-based testing applied in hyperlipidemia, hypertriglyceridemia, familial hypercholesterolemia, hypo-lipoproteinamia, tangier disease, atherosclerosis, and others. The various end users are hospital, specialty clinics and physician offices, pathology laboratories, diagnostic clinics, ambulatory surgical centers, reference laboratories, academic and research institutes, and others.
The increasing number of cardiovascular and diabetic diseases is expected to boost the lipid panel testing market going forward.Cardiovascular disease is a group of conditions that affect the heart and blood vessels, whereas Diabetes is a metabolic disorder that affects the body’s ability to produce insulin effectively, leading to high blood sugar levels.
Lipid panel testing is an essential diagnostic tool for identifying individuals at high risk of developing cardiovascular diseases or already developed cardiovascular disease.It is also be used to monitor the effectiveness of treatment in individuals who have already developed cardiovascular or diabetes disease, allowing healthcare providers to adjust treatment plans as needed to achieve target lipid levels and reduce the risk of another ailment.
For Instance, according to The National Heart, Lung, and Blood Institute, a US-based Institute of the National Institutes of Health, U.S. mortality from March to August 2020, 76,767 people perished from cardiovascular disease, which affects the blood arteries that support the brain and related systems, and 339,076 people perished from heart disease. Furthermore, in 2022, according to the Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report, a US-based government agency, diabetes cases in US is increased to reach 37.3 million in 2022. Therefore, improving cardiovascular and diabetic diseases will drive the lipid panel testing market forward.
Product innovations are a key trend gaining popularity in the lipid panel testing market.Major companies operating in the lipid panel testing market are focused on developing innovative products to sustain their position in the market.
For Instance, in October 2022, Boston Heart Diagnostics, a US-based biotechnology company released LipoMap, a panel of 33 lipid, lipoprotein, and apolipoprotein tests, with most comprehensive assessments of lipid metabolism commercially available. It uncovers treatable and reversible lipid abnormalities that cause cardiovascular disease (CVD), allowing for greater personalization of treatment and follow-up testing.
In August 2020, Croda International plc, a UK-based specialty chemicals company, acquired Avanti Polar Lipids for an undisclosed amount.With this acquisition, Avanti will carry on with its current brand and management group and will join Croda’s Life Sciences division for quickly expanding Health Care division.
Avanti Polar Lipids Inc. is a US-based pharmaceutical company that offers a wide range of products, including phospholipids for lipid panel testing.
The countries covered in the lipid panel testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The lipid panel testing market research report is one of a series of new reports that provides lipid panel testing market statistics, including lipid panel testing industry global market size, regional shares, competitors with a lipid panel testing market share, detailed lipid panel testing market segments, market trends and opportunities, and any further data you may need to thrive in the lipid panel testing industry. This lipid panel testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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