Endocrine Testing Market Research 2020-2025 Report by Future Scope, Size Estimation, Revenue, Pricing Trends, Regional Outlook

Endocrine Testing Market is expected to reach USD 13.02 billion by 2024. The endocrine system is a combined system that contains numerous glands situated throughout the body. Together with the nervous system, the endocrine system regulates and controls several internal physical functions. Although the nervous system uses nerve impulses as a means of control, the endocrine system uses chemical messenger molecules called hormones. With the help of network of glands, hormones are produced, stored, and secreted.

 

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The key driving factors responsible for the growth of Endocrine Testing market :

 

Thymus, adrenal glands, testes, hypothalamus, pituitary gland, ovaries, pineal gland, islet cells in the pancreas, thyroid, and parathyroid are glands of endocrine system. The endocrine testing market is estimated to grow at a significant CAGR of 8.0% over the future period as the scope and its applications are rising enormously across the globe.

 

Endocrine testing industry is segmented based on test type, technology, end use, and region. Insulin, estradiol (E2), cortisol, Follicle Stimulating (FSH), prolactin, Human Chorionic Gonadotropin (hCG), Thyroid Stimulating Hormone (TSH), Luteinizing Hormone (LH), testosterone, Dehydroepiandrosterone sulfate (DHEAS), progesterone, and other test type could be explored in endocrine testing market in the forecast period.

 

Thyroid Stimulating Hormone (TSH) sector accounted for the largest market share of endocrine testing industry and is estimated to lead the overall market in the coming years. This may be because of rising awareness regarding cardiovascular disorders and thyroid hormones levels. Moreover, insulin test is estimated to grow at fastest pace in the coming years, as growing diabetic population.

 

Highly used enhanced technology includes clinical chemistry, tandem mass spectrometry, sensor technology, immunoassay, monoclonal & polyclonal antibody technologies, and others that could be explored in the future period. During foremost period, the tandem mass spectrometry is estimated to lead the overall market. This may be because of rising use in combination with liquid chromatography. However, sensor technology segment is estimated to grow at fastest pace in the years to come, as rising use of biosensors in glucose monitoring for diabetes.

 

The market may be categorized based on end users like ambulatory care centers, hospital, commercial laboratory, and others could be explored in the foremost period. The hospital sector accounted for the largest market share and is estimated to continue its dominance in the forecast period. However, the commercial laboratory sector is estimated to grow at fastest pace in the coming years, as presence of skilled workers and accessibility of enhanced infrastructure.

 

Globally, North America accounted for the largest market share of endocrine testing and is estimated to continue its dominance in the upcoming years. The reason behind the overall market growth could be presence of advanced tertiary, secondary, and primary care hospitals, government initiative, enhanced compensation network, satisfactory government funding policy, and rising health awareness. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.

 

Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of 9.1% in the foremost period. The aspects that may be ascribed to the growth comprise rising R&D expenditure by private agencies and government to improve therapeutic and diagnostic areas in the region. The developing countries like India and China are the major consumers of endocrine testing industry in this region, as developing healthcare infrastructure and government compensation policies.

 

The key players of endocrine testing market are Quest Diagnostics, Abbott Laboratories, LabCorp., AB Sciex, Hoffmann-La Roche Ltd., Agilent Technologies, DiaSorin, Biomedical Technologies, Bio-Rad Laboratories, and bioMerieux SA. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

 

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