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.
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.
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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.
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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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