The global market size for endocrine testing is estimated to be growing at a CAGR of 7.04% from 2023 to 2028 and will be worth USD 15.58 billion by 2028 from USD 11.08 billion in 2023.
Endocrine glands produce hormones directly into the bloodstream, making up the endocrine system. Endocrine hormone levels are measured in biological samples. These tests assist in detecting deviations in hormone production, such as hypersecretion or hyposecretion, which can lead to endocrine problems such as infertility, menopause, thyroid dysfunction, etc. Endocrine testing has become more common because of various illnesses, including various types of diabetes and PCOS. The pituitary, thyroid, pancreas, adrenals, and other endocrine glands make up the endocrine system. Hormones are secreted by these glands, which control the body's metabolism, growth, sexual development, and function. By examining hormone levels, endocrine tests aid in determining the appropriate functioning of the endocrine gland. The tests determine if there is a hormonal imbalance.
Impact of COVID-19 on the global endocrine testing market:
In the future, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and its variations are expected to have a significant impact on worldwide healthcare systems. Several research studies have shown that patients with thyroid issues are more susceptible to the COVID-19 virus, resulting in a substantial demand for various endocrine tests to evaluate and manage thyroid hormone levels worldwide during the pandemic. In addition, endocrine testing has been increasingly used to diagnose hyperglycemia in infected patients since the coronavirus (COVID-19) epidemic. As a result, during the pandemic, the market has grown positively.
MARKET DRIVERS:
The global endocrine testing market is primarily driven by the rising frequency of endocrine disorders, the growing aging population, and developments in diagnostic technology.
The rising prevalence of diabetes and thyroid problems in several nations worldwide is expected to boost the expansion of the endocrine testing market. Furthermore, drinking alcohol is one of the most significant risk factors for various endocrine illnesses and disabilities. Globally, the developed region's high-income countries consume the most alcohol. Because of the high demand for endocrine testing equipment, market participants concentrate on product development and new product releases. Other key factors likely to fuel the growth of the global endocrine testing market over the forecast period include increased demand for high-sugar foods and technological advancements in endocrine testing equipment in terms of accuracy.
The market has tremendous opportunities since rising rates of endocrine problems and increased healthcare awareness will necessitate speedy, sensitive, and low-cost examinations. The rising frequency of lifestyle illnesses is likely to boost demand for endocrine tests, promoting the market's growth rate. The demand for better endocrine testing technology is predicted to increase as cases of disorders like hypothyroidism and hyperthyroidism rise. Increased government initiatives to improve healthcare awareness through various programs and projects in developing nations in the coming years may assist in reducing these constraints in the global endocrine testing market. Advances in technology, such as the advent of simple-to-use test kits, have aided the spread of user-friendly and cost-effective home-based diagnostics. Considerable investment in product technology is expected to provide new opportunities within the forecast period.
MARKET RESTRAINTS:
The high cost of developing testing technologies is likely to hinder the expansion of the global endocrine testing market over the forecast period. The increased expenditure of R&D for understanding many biological systems activated by hormones and the subsequent commercialization of the tests make endocrine testing manufacturers' jobs difficult. As a result, the expense of monitoring and diagnosing hormone secretion levels in the body is very high.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 to 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 to 2028 |
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Segments Covered |
By Test, Technology, End-User, and Region |
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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 of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
This market research report on the global endocrine testing market has been segmented and sub-segmented based on the test, technology, end-user, and region.
Endocrine Testing Market – By Technology:
Tandem mass spectrometry is expected to dominate the endocrine testing market by technology during the forecast period. This is due to the increasing use of tandem mass spectrometry in conjunction with liquid chromatography, which helps overcome the limitations associated with older endocrine testing procedures.
Endocrine Testing Market – By Test:
Based on the test, thyroid-stimulating hormone testing (TSH) is expected to grow in popularity during the forecast period. The pituitary gland produces thyroid-stimulating hormone (TSH) and stimulates the thyroid gland to generate thyroxine and triiodothyronine, which assists metabolism. TSH testing is used to determine thyroid levels. Thyroid disorders are growing more prevalent all over the world. TSH measurement has gained prominence in thyroid function testing, owing to technological advancements in these tests that make illness screening more cost-effective. TSH also provided biochemical therapeutic objectives and new definitions of subclinical hypothyroidism and hyperthyroidism.
Endocrine Testing Market – By End-User:
In 2021, hospitals held the most significant share of the global endocrine testing market by end-user. For check-ups and tests, most individuals still choose hospitals. This is due to the perception that hospitals are institutions that provide better service and have greater facilities. This segment will likewise dominate during the forecasting period for the same reason.
Endocrine Testing Market – By Region:
Because of factors such as well-established healthcare infrastructure, high prevalence of obesity, developments in diagnostic technologies, and new product launches, North America had a considerable share in 2022. In addition, the market is predicted to grow due to a decrease in physical activity and an increase in the incidence of thyroid issues. Furthermore, several initiatives, such as mandatory newborn screening for congenital hypothyroidism, revolutionary research work on thyroid hormone function, cost-effective methods to detect thyroid cancer, promising research on Graves' disease, which is likely to lead to improved prognosis and new preventive treatments for thyroid diseases, are likely to drive significant growth in North America in the coming years.
Over the forecast period, the Asia-Pacific endocrine testing market is expected to grow at a lucrative rate. Increasing R&D expenditure by the government and private organizations to develop diagnostic and treatment areas in the region are key factors contributing to market growth. In addition, the expansion of this regional market is predicted to be fueled by economic development in countries such as India, China, and Japan and favorable government initiatives regarding the development of healthcare infrastructure and reimbursement policies.
Key firms in the European endocrine testing market are focused on strategic collaborations to create endocrinology diagnosis processes. This is also projected to fuel this region's global endocrine testing market growth.
KEY MARKET PARTICIPANTS:
Agilent Technologies, F-Hoffmann La Roche Ltd, AB SCIEX, Thermo Fisher Scientific, Abbott Laboratories, Bio-Rad Laboratories, DiaSorin S.p.A., Beckman Coulter Inc., Siemens Healthineers, and bioMerieux are a few of the major companies operating in the global endocrine testing market profiled in this report.
RECENT HAPPENINGS IN THIS MARKET:
Frequently Asked Questions
As per our research report, the global endocrine testing market was valued at USD 9.68 billion in 2021 and this value is predicted to grow to USD 14.56 billion by 2027.
Based on technology, the tandem mass spectrometry segment dominated the endocrine testing market in 2021.
Based on test, the thyroid-stimulating hormone testing segment held the majority of the share in the global endocrine testing market in 2021.
Geographically, the APAC region is predicted to showcase the fastest growth rate among all the regions in the global market during the forecast period.
Companies playing a key role in the endocrine testing market are Agilent Technologies, F-Hoffmann La Roche Ltd, AB SCIEX, Thermo Fisher Scientific, Abbott Laboratories, Bio-Rad Laboratories, DiaSorin S.p.A., Beckman Coulter Inc., Siemens Healthineers, and bioMerieux.
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