Cholesterol Testing Products Market Worth US$ 49.4 Billion by 2034 | Exclusive Report by Transparency Market Research Inc

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Jul 17, 2024, 05:30 ET

The growing investments in the healthcare sector will likely create several opportunities for key players in the industry. The prospective advancement of the industry is vastly dependent on the growth of leading players, and hence, this will be the decisive factor in determining the upliftment of the sector.

WILMINGTON, Del., July 17, 2024 /PRNewswire/ -- The projected size of the global cholesterol testing product market will reach USD 49.4 billion by 2034, which will be lifted from USD 21.8 billion, measured in 2023. This development will occur at a moderate to impressive CAGR of 7.8% through the forecasted period.

With the growing proportion of obese population across the world, the rate of heart issues is growing. People have been struggling to ensure the well-being of the heart, which drives the demand for suitable measures to arrest such issues.

The demand from medical professionals will likely increase due to the increased number of patients visiting clinics or hospitals for check-ups. This is a key driver for the industry, elevating the growth rate of the sector.

The growing prevalence of cardiovascular diseases will likely spur the demand for accurate diagnosis and medical examination of individuals to reduce as well as control the threat of heart failure. As a result, the cholesterol testing products will likely gain traction in the industry, upscaling the market.

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With the increasing obese population in the world, the proportion of cholesterol accumulation along blood vessels will spur. This threatens people with several heart-related issues, affecting the quality of life of individuals. The demand for cholesterol testing products, therefore, will likely elevate, driving the growth rate of the industry.

The initiatives of governments have helped the healthcare industries in different countries to become robust. This creates various opportunities for key players in the industry to explore different market openings. The scope of innovation also spurs, inducing a chance for reduced costs of devices, pushing the growth of the industry.

Key Findings from the Market Report

With the cholesterol testing product market being divided into many key segments, the product type segment will likely gain the highest traction. Test kits are an integral part of the segment, which is gaining popularity in a wide age group range. The easy usability and better reliability of such test kits uplift the demand.
To calculate the total cholesterol accumulated in the blood vessels, many patients prefer total cholesterol tests. This segment, hence, is expected to gain traction during the forecasted period.
With the growing investments in the healthcare infrastructure, the total number of hospitals worldwide is expected to spur. This will likely surge the demand in the segment, helping the end-user contribute significantly to the growth of the industry.
Similar to hospitals, private diagnostics centers are also increasing, which drives the demand for test kits in such centers.

Cholesterol Testing Product Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 21.8 Bn
Forecast (Value) in 2034	US$ 49.4 Bn
Growth Rate (CAGR)	7.8 %
No. of Pages	167 Pages
Segments covered	By Product Type, By Test, By End-user By Region

Regional Profile

The healthcare infrastructure in North America is better. Countries like Canada and the United States have robust healthcare support, creating lucrative growth prospects for key players.
In the case of Europe, government investments in the healthcare sector and the nationalized healthcare services in countries like the United Kingdom (NHS) will help the region contribute substantially to the development of the market.
With the growing population in Asia-Pacific, the demand for check-ups will likely spur. This will elevate the contribution of the region during the forecasted era.

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Key Developments in the Cholesterol Testing Product Market

In November 2023, Ngaio Diagnostics collaborated with Randox. The said initiative helped the latter business to bring products to the New Zealand market.
In January 2024, Abbott Laboratories launched PROTALITY. The brand promises to provide nutritional support for adults who are in the pursuit of weight loss.

Competitive Landscape

The global cholesterol testing product market is highly cluttered. Different key players occupy a substantial market space, governing the competitive landscape. Athenese-Dx Private Limited is a key competitor in producing Alta semi-auto chemistry analyzers, Alta rapid test readers, Alta ELISA plate readers, and many more.

Ngaio Diagnostics is another key player that manufactures mini digital incubators, AxCCS-5 rapid calf scour test kits, campylobacter latex, and so on.
Abbott Laboratories operates in different verticals and produces cardiovascular devices, neuromodulator kits, and various diagnostics units.

Key Players

Athenese-Dx Private Limited
Ngaio Diagnostics
Abbott Laboratories
Thermo Fisher Scientific
Biogenix Inc. Pvt. Ltd.
CLIAwaived Inc
F. Hoffmann-La Roche Ltd.
PerkinElmer Inc.
Randox
Abcam Limited
Diazyme Laboratories Inc.
Others

Market Segmentation

Product Type

Test Kits
Test Strips
Chemical Analyzers

Test Type

Total Cholesterol Test
High-density lipoprotein (HDL) Cholesterol Test
Low-density lipoprotein (LDL) Cholesterol Test
Triglycerides/Very-Low-Density Lipoprotein (VLDL) Cholesterol Test

End User

Hospitals & Clinics
Diagnostic Centers
Others (Research Institutes, etc.)

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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