The global cholesterol testing services market size is expected to reach USD 21.8 billion by 2026, compared to an estimated USD 14.55 billion in 2021. It is showcasing a growth rate of 8.2% CAGR during the forecast period.
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 elements 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 measure the amount of "good" and "bad" cholesterol and triglycerides, a type of fat in the blood.
High cholesterol levels lead to health hazards such as the acute risk of stroke and heart disease and cause many deaths. Cholesterol screening services enable the early detection of high-cholesterol-related problems to avoid complications and increase patient survival.
increase in the incidence of cardiovascular disease, a sedentary lifestyle, an increase in the geriatric population, which provides many patients, and government initiatives to improve health care delivery are expected to drive the global cholesterol testing services market growth.
The global cholesterol testing services market is further driven by the rising incidence of cardiovascular disease, doctors' preference for laboratory testing over self-testing, government initiatives to improve test quality, strokes, and other heart diseases, the rise in healthcare spending, government initiatives, the rapid growth of the geriatric population. A significant risk of stroke and heart disease, both of which cause a substantial number of deaths, are increased by high cholesterol levels. The expansion of the Cholesterol Testing Services Market is fuelled by discovering issues early to avoid complications, gradual awareness of the dangers of cholesterol and education about the importance of these tests, technological advancements in cholesterol laboratory testing services, and enhance the patient's chances of life. Because high cholesterol has no symptoms, comprehensive cholesterol testing is required. Total cholesterol, high-Density Lipoprotein (HDL), low-Density Lipoprotein (LDL), and triglycerides are the four kinds of lipids measured in the blood. Measurements of blood cholesterol helps to reduce the risk of heart attack, stroke, and peripheral artery disease.
Another disease associated with high cholesterol is obesity. The need for these tests will grow as the incidence of cholesterol-related illnesses rises, boosting the global laboratory cholesterol testing market. Cholesterol lab testing services provide for early diagnosis of issues, avoiding complications, and improving patients' chances of life. The market for cholesterol lab testing services is projected to expand as a result of this. Because of their increased focus on preventive care and early detection to avert major illness problems, the government agencies segment is anticipated to develop significantly in coming years. The major companies in the market collaborate with federal, state, and local government organizations to deliver high-quality diagnostic testing services worldwide. According to the Centers for Disease Control and Prevention (CDC), adults aged 40 to 59 have the highest total cholesterol. This is mostly due to a sedentary lifestyle, which has been linked to the development of several diseases, including obesity, diabetes, and heart disease. As a result, it is expected that there would be a greater awareness of the importance of routine cholesterol testing and treatment.
In addition to the restrictions presented by the development of non-invasive cholesterol testing techniques, the existence of home or self-test kits might limit expansion. Therefore, leading companies are concentrating on developing new and sophisticated monitoring devices to overcome the challenges of existing equipment, resulting in intense competition in the worldwide cholesterol testing services market.
Impact of COVID-19 on the global cholesterol testing services market:
The current pandemic of coronavirus disease-19 (COVID-19), caused by the severe acute respiratory syndrome coronavirus. Patients with cardiovascular disease (CVD), hypertension, and overweight/obesity tend to have a more severe clinical course (COVID-19) when infected with the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that produces coronavirus illness-19. This risk rises when your arteries become blocked with too much bad cholesterol, leading them to constrict. Plaque is a kind of plaque that inhibits blood flow to and from your heart and other organs. High cholesterol has been related to an increased risk of developing various diseases. There's even some indication that elevated cholesterol levels cause higher mortality in some COVID-19 patients. People are becoming fatter, and their chances of developing cardiovascular illnesses are growing after the advent of the pandemic COVID-19. On the other hand, the government is spending billions on improving healthcare infrastructure and promoting a healthier lifestyle, which has been proven to be a market growth driver. By considering all factors, the market has had moderate growth during this pandemic.
Market Size Available
2020 to 2026
2021 to 2026
By Type of Customer and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global cholesterol testing service market has been segmented and sub-segmented based on the type of customer and region.
Cholesterol Testing Service Market – By Type of Customer:
As of 2020, the physicians, providers, and hospitals segments together are estimated to account for most of the market share during the forecast period. Factors such as growing reimbursement scenarios, physicians' assurance on cholesterol test outcomes making the cardiovascular disease risk assessments, and treatment-based decisions are forecasted to accelerate the growth to these segments.
Other than the above, the patient segment is expected to be another lucrative segment and predicted to register a healthy growth rate during the forecast period. The easy availability of diagnostic lab centers for test services and rising healthcare awareness are expected to boost this segment. Moreover, factors such as access to lab test reports, easy accessibility of lab tests without physician intervention, increased government measures in developing the testing quality, rising aging population, and obese population support market growth.
Cholesterol Testing Service Market – By Region
Geographically, North America is expected to dominate the market for cholesterol testing in 2019, and the United States is an essential part of it. However, Asia is expected to be the fastest-growing region in CAGR over the forecast period due to the large population base, the increase in cardiovascular disease, and the increasing number of test facilities in Asia.
KEY MARKET PARTICIPANTS:
Notable companies leading the global cholesterol testing service market profiled in this report 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).
RECENT MARKET DEVELOPMENTS:
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
18.104.22.168 By Geographical Area
22.214.171.124 By Type of Customer
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type of Customer
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 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