Cholesterol Test Market Research, 2031
The global cholesterol test market size was valued at $8,537.52 million in 2021 and is projected to reach $18,441.91 million by 2031, growing at a CAGR of 8% from 2022 to 2031.
Cholesterol Test is also known as lipid profile test. This blood test calculates the blood's triglyceride and cholesterol levels. High cholesterol level goes undetected, yet it can have serious health repercussions. When blood cholesterol levels are excessively high, plaque (deposits of fat and other substances) are formed in the arteries. The buildup of plaque causes the arteries to become more constricted, which lowers and delays the blood flow to the heart.
A heart attack can happen if the blood flow to any region of the heart is cut off. A tool for determining the risk of cardiovascular disease, such as heart attacks and strokes, is a cholesterol test. A doctor can use the test to measure and analyze the blood's fat content. The doctor might suggest medication to lower cholesterol levels and lower the risk of heart disease if there is too much cholesterol in the blood. Even though the ideal frequency depends on age and other health risk factors, everyone should have their cholesterol checked on a frequent basis. The American Heart Association (AHA) recommends cholesterol testing for most adults every 4-6 years starting at the age of 20 years. This testing will continue as long as they have a low risk of stroke or heart attack. After the age of 40 years, a doctor will calculate a person’s risk and may suggest more frequent testing.
“The cholesterol test market was slightly increased during the lockdown period owning to majority of the blood test centers experienced a broad spectrum of difficulties, and most were affected more in the second wave of the pandemic.”
Historical overview
The market was analyzed qualitatively and quantitatively from 2018-2020. The cholesterol test market grew at a CAGR of around 4-6% during 2018-2021. Most of the growth during this period was derived from the Asia-Pacific owing to the improving health awareness, rising disposable incomes, as well as well-established presence of domestic companies in the region.
Market dynamics
Growth & innovations in the pharmaceutical industry for the manufacturing of cholesterol kit owing to massive pool of health-conscious consumers, creates an opportunity for the cholesterol test market. The growth of the cholesterol test market size is expected to be driven by high potential in untapped, emerging markets, due to availability of improved healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of cardiovascular disease, and surge in demand for cholesterol test kits. Furthermore, the healthcare industry in emerging economies is developing at a significant rate, owing to rise in demand for enhanced healthcare services, significant investments by government to improve healthcare infrastructure, and development of the medical tourism industry in emerging countries. E-commerce (electronic commerce) has become a vital tool for small and large businesses globally, due to rise in preference of consumers for online shopping over traditional purchasing methods.
This is attributed to further supports market growth. The demand for cholesterol test products is not only limited to developed countries but is also being witnessed in the developing countries, such as China, Brazil, and India, which fuel the growth of the market. Factors such as rise in consumption of carbohydrate-based foods, packaged foods, poor eating habits, and unhealthy lifestyle among young generation as well adults thus leading to increase in cholesterol level which further drive the growth of the cholesterol test market share. Furthermore, rise in consumer awareness related to preventive healthcare and ease of accessibility boost the adoption of cholesterol test market. Moreover, increase in geriatric population and growth in awareness for healthy lifestyle among the general population are expected to fuel their adoption in the near future.
High cholesterol is frequently referred to as a silent killer because it may not show any symptoms but is thought to be responsible for 2.6 million deaths annually in the world. Therefore, cholesterol testing is helpful in establishing whether a person is at risk for heart disease and what preventative actions can be taken. However, some medications, including beta-blockers and diuretics that are used to treat high blood pressure, steroids, hormone replacement therapy, and birth control pills, can elevate cholesterol levels and influence the results of cholesterol tests. Additionally, incorrect fasting, drugs, human error, and a number of other factors can result in falsely negative or positive cholesterol test results, which hamper the cholesterol test market growth.
The COVID-19 pandemic had a negative impact on the cholesterol test market, as majority of the blood test centers experienced a broad spectrum of difficulties, and most were affected more in the second wave of the pandemic. Samples arriving at test centers and the availability of laboratory equipment and reagents were delayed due to postal delays & unreliability as well as flight cancellation. Owing to infection, quarantine, or relocation within the healthcare facility, laboratory staff availability was occasionally limited. Home sample collection, second-tier tests, and follow-up were all impacted. These issues were exacerbated by social restrictions and public transportation disruptions. Only a few centers were able to keep their cholesterol test programs fully operational. However, the market is anticipated to witness recovery in 2021, and show stable growth for cholesterol test market in the coming future.
Segmental Overview
The cholesterol test market is segmented into product type, test type, end user and region. By product type, the market is categorized into test kit, test strip and others. On the basis of test type, the market is segregated into total cholesterol test, high-density lipoprotein (HDL) cholesterol, low-density lipoprotein (LDL) cholesterol and triglycerides/VLDL cholesterol test. By end user, the market is classified into hospitals, diagnostic centers, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product type: based on product type, the market is segmented into test kit, test strip and others. The test kit segment dominated the global market in 2021, and is expected to remain dominant throughout the forecast period, owing to increase in adoption of cholesterol test kit by health-conscious customers to check cholesterol level and availability of cholesterol test kits in the market by various key players. In addition, Moreover, excessive alcohol consumption, smoking, eating full-fat dairy products, and eating fatty meat cuts can all increase one's total cholesterol level, which encourages the use of cholesterol kits.
By test type: cholesterol test market is segregated into total cholesterol test, high-density lipoprotein (HDL) cholesterol, low-density lipoprotein (LDL) cholesterol and triglycerides/VLDL cholesterol test. The total cholesterol test segment dominated the global market in 2021, and is anticipated to continue this trend during the forecast period. This is attributed to increase in awareness of routine cholesterol testing and treatment, as well as the sedentary lifestyle that contributes to the development of many diseases, including diabetes drives the growth of the market.
By end user the market is classified into hospitals, diagnostic centers, and others. The diagnostic center held the largest market share in 2021, and is expected to remain dominant throughout the forecast period, owing to diagnostic center performs various tests to determine the cause of the condition. There are different types of labs within this category, including radiology & MRI centers, imaging centers and pathology labs. A diagnostic center has a qualified medical staff to handle health issues and the center also have experienced and skilled radiologists, pathologists, surgeons, and other medical professionals which further propel the segment growth.
By region: The cholesterol test market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the cholesterol test market in 2021, and is expected to maintain its dominance during the forecast period.
Key factors drive the growth of the market are substantial presence of major pharmaceutical and biopharmaceutical companies in the North American region. Additionally, it is anticipated that rising demand for preventative healthcare further boost the market growth. Moreover, increasing government and private sector efforts to promote healthy lifestyles are anticipated to fuel market expansion in the region during the forecast period. In addition, presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption rate of cholesterol test products are expected to drive the market growth. Moreover, increase in prevalence of cardiovascular disease in the region as well as rise in awareness about the disease prevention among people lead to rise in demand for the cholesterol test, and further boost the growth of the market.
Asia-Pacific expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to presence of pharmaceutical companies in the region as well as growth in the purchasing power of populated countries, such as China and India. Moreover, rise in geriatric population and increase in prevalence of cardiovascular disease such as diabetics drive the growth of the market. Furthermore, the Asia-Pacific region exhibits the high population base, presence of unmet medical needs, and increase in disposable incomes of people in the region. Moreover, rise in medical tourism and developing healthcare infrastructure make Asia-Pacific a lucrative market for cholesterol test.
Asia-Pacific offers profitable opportunities for key players operating in the cholesterol test industry, thereby registering the fastest growth rate during the cholesterol test market forecast period, owing to the growing infrastructure of industries, rising disposable incomes, as well as well-established presence of domestic companies in the region. In addition, rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major players in the cholesterol test, such as
Diazyme Laboratories, Inc., Randox Laboratories Limited, Fujifilm Holding Corporation, Thermo Fisher Scientific, Abcam plc., Merck KGaA, Abbott Laboratories, Danaher Corporation, PerkinElmer, Inc. and F.Hoffmann-La Roche Ltd are provided in this report. There are some important players in the market such as F.Hoffmann-La Roche Ltd, Thermo Fisher Scientific and other Major players have adopted product launch, product expansion and acquisition as key developmental strategies to improve the product portfolio of the cholesterol test market.
Some examples of product launches in the market
In May 2021 Merck KGaA announced the launch of a new, high-purity synthetic cholesterol product, nine months ahead of schedule, to meet the high demand for lipids, a key component of mRNA-based vaccines and therapeutics.
Acquisitions in the market
In October 2021, Abcam, Inc. a global innovator in life sciences reagents and tools, was announced the successful completion of its acquisition of BioVision which further growing kits and assays portfolio and supporting the growing demand of the sector and accelerating execution of strategic plan.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cholesterol test market analysis from 2021 to 2031 to identify the prevailing cholesterol test market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cholesterol test market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cholesterol test market trends, key players, market segments, application areas, and market growth strategies.
Cholesterol Test Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 18.4 billion |
 Growth Rate | CAGR of 8% |
 Forecast period | 2021 - 2031 |
 Report Pages | 204 |
 By Product Type |
|
 By Test Type |
|
 By End User |
|
 By Region |
|
 Key Market Players | Randox Laboratories Limited, PerkinElmer, Inc., F. Hoffmann-La Roche Ltd., Abcam plc., Fujifilm Holding Corporation, Merck & Co., Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Abbott Laboratories, Diazyme Laboratories, Inc. |
Analyst Review
This section provides various opinions of the top-level CXOs in the cholesterol test industry. In accordance with several interviews conducted, the utilization of cholesterol test is expected to witness a significant rise owing to increase in prevalence of cardiovascular disease and obesity in both developed and developing economies. Furthermore, the global cholesterol test market growth is propelled by surge in geriatric population, increasing adoption of an unhealthy diet, and lack of physical activities as life gets more hectic will result in higher prevalence of cholesterol which further propel the market growth.
North America accounted for the highest market share in 2021, due to availability of cholesterol test product, and heavy expenditure by the government on healthcare, followed by Europe and Asia-Pacific. Asia-Pacific is expected to exhibit fastest market growth due to increase in diabetics and heart attack. Pharmaceutical companies have focused on expanding their presence in emerging economies, which is anticipated to drive the market growth.
The upcoming trends of cholesterol test market are decrease in physical activities, growing preference for preventive healthcare and demand for better cholesterol management.
Heart disease is the leading application of Cholesterol Test Market.
North America is the largest regional market for Cholesterol Test Market.
Cholesterol Test market is expected to reach $18,441.91 million by 2031, registering a CAGR of 8.0% from 2022 to 2031.
The key players that operate in the global cholesterol test market. The key companies profiled in the report include Diazyme Laboratories, Inc., Randox Laboratories Limited, Fujifilm Holding Corporation, Thermo Fisher Scientific, Abcam plc., Merck KGaA, Abbott Laboratories, Danaher Corporation, PerkinElmer, Inc. and F.Hoffmann-La Roche Ltd.
The base year is 2021 in Cholesterol Test market
Yes, the Cholesterol Test market report provides PORTER Analysis
Loading Table Of Content...
