The global cholesterol testing services market size is expected to reach USD 19.68 billion by 2025, compared to an estimated USD 13.42 billion in 2020. 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.
Further, it is also 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, 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. Moreover, increases in healthcare spending and public awareness of cardiovascular disease, its causes, treatment, and prevention also drive market growth.
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 this market's growth for cholesterol testing services.
Market Size Available
2019 to 2025
2020 to 2025
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 2019, 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, and 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. Asia is expected to be the fastest-growing region in terms of 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).
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
184.108.40.206 By Geographical Area
220.127.116.11 By Type of Customer
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type of Customer
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 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