(PharmaNewsWire.Com, May 27, 2019 ) The global cholesterol testing services market is expected to reach USD 17.57 Billion by 2021 from an estimated value of USD 11.96 Billion in 2016, growing at a CAGR of 8% during the forecast period.
The cholesterol testing market is driven by factors such as increasing incidence of cardiovascular diseases and obesity, physician preference of laboratory testing rather self-testing, government initiatives to improve quality of testing, and rapid growth in the geriatric population are propelling the growth of this market.
However, rapidly growing home/self-testing and advent of noninvasive cholesterol testing methods are the major factors that may hinder growth of the market.
Major players in the cholesterol testing market include Laboratory Corporation of America Holdings (LabCorp) (U.S.), Quest Diagnostics Incorporated (U.S.), Eurofins Scientific (Luxembourg), Spectra Laboratories Inc. (U.S.), Unilabs (Switzerland), SYNLAB International GmbH (Germany), Bio-Reference Laboratories Inc. (U.S.), Clinical Reference Laboratory, Inc. (CRL) (U.S.), ACM Medical Laboratory (U.S.), and Adicon Clinical Laboratory (China).
Target Audience/Stakeholders: Cholesterol Testing Service Providers Cholesterol Testing Kit Manufacturers Public and Private Physicians Healthcare Institutions (Medical Data Centers) Diagnostic & Clinical Laboratories Distributors and Suppliers of Cholesterol Testing Kits Health Insurance Companies/Payers Pharmaceutical Companies Employers/Organizations
In 2016, Europe is expected to hold the second position in this cholesterol testing services market. Factors such as high incidence of chronic diseases, technological advancements in lab tests, and increasing patient awareness are driving the growth of this regional segment. On the other hand, Asia is expected to register the highest growth rate during the forecast period.
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