Transparency Market Research is Published new Market Report “Endocrine Testing Market (E2, FSH, hCG, LH, DHEAS, Progesterone, Testosterone, TSH, Prolactin, Cortisol, Insulin Tests and Others)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the global endocrine testing market was valued at USD1.53billion in 2012 and is estimated to reach a market worth USD2.03 billion in 2019 growing at a CAGR of 4.3% from 2013 to 2019.
Browse Endocrine Testing Market Report with Full TOC at http://www.transparencymarketresearch.com/endocrine-testing-market.html
Endocrine system refers to the collection of endocrine glands (ductless glands) and secretory organs that release hormones directly into the blood stream. Endocrine system is instrumental in regulating certain body mechanisms such as metabolism, growth and sexual development and emotions. Also, it enables the body to cope up with different events such as cellular mechanisms and stress by acting in co-ordination with the nervous system. Hormones refer to the body’s chemical messengers and render information and instruction transfer from one set of cells to another. Hormones can act only on those cells that are genetically programmed to receive and respond to the information or instructions released by hormones. There are lot of factors that influence the hormone levels including changes in body fluids and minerals in blood along with stress and infection.
Several endocrine tests are performed to assess varying levels of hormones in the body. This results in the determination of hypersecretion (excess) or hyposecretion (less) that consequently helps in early diagnosis and treatment of several endocrine disorders (such as sexual dysfunction, diabetes and others). Consistent rise in diabetic, obese and infertile patient population across the globe has broadened the scope for growth and acceptance of various endocrine test kits. In addition, introduction of technologically advanced diagnostic platforms coupled with growing healthcare awareness and surge in preference for quick and easy operating test platforms have further augmented the growth prospects for endocrine test kits or methodologies. On the contrary, high development costs and less flexible reimbursement policies are some of the factors that may hamper the growth of global endocrine testing market.
Endocrine tests are instrumental in monitoring the normal and abnormal levels of hormones secreted in the body. The market for insulin tests is estimated to record highest growth rate during the forecast period majorly due to increasing incidence of the diabetes worldwide coupled with technological advances and increasing healthcare awareness across the globe. As per International Diabetes Federation (IDF), in the year 2013, around 382 million people suffered from diabetes and are anticipated to rise to 592 million by 2035. Also, 80% of the diabetic population lives in low and middle income nations. Thyroid stimulating hormone test constituted the largest market segment owing to increasing thyroid dysfunction cases and pose high risk for acquiring cardiovascular disorders. The increased acceptance of endocrine test kits is attributed to increasing incidence of obesity, unhealthy food habits, physical inactivity and consistent technological advances. Follicle stimulating hormone test followed by human chorionic Gonadotropin test occupied third and fourth position in the market by 2019. Hence, all these factors mentioned above influence the growth and acceptance of several test kits.
Among the diagnostic technology market the tandem mass spectrometry segment is estimated to record highest growth rate due to high specificity and accuracy rendered by this platform in determination of hormone levels. Immunoassays and sensor technologies are expected to be the other fastest growing diagnostic technology segments during the forecast period owing to their increased use in several endocrine testing methodologies. However, high cost involved in the research and development along with subsequent commercialization of the same results in the high costs of the tests thereby hampering the growth of the market.
While, the ambulatory care centers of the total market, by end users segment is expected to be the fastest growing segment during the forecast period due to quick service offerings and costs reduction due to less hospital stay and gain competitive edge over the other end users. In addition, home based tests and commercial laboratories are also expected to grow considerably as compared to others (hospitals and physician offices).
At the regional level, Europe was the largest market in 2012for endocrine testing market followed by North America. The growth has been attributed to the presence of sophisticated laboratories along with increased participation of the respective governments in these regions. Asia-Pacific region represents the fastest growing region during the forecast period from 2013 to 2019.This is majorly due to huge untapped patient population, increasing healthcare awareness and healthcare spending and presence of large number of undiagnosed and untreated patients in low and middle income nations. In addition, rise in disposable incomes and increased investments of many key players in these emerging economies will further boost the growth and development in this region. For instance, Abbott Laboratories has been investing heavily in the emerging economies such as India and China to enhance their revenues to 50% by 2015. The company has opened around six manufacturing and R&D facilities in Asia-Pacific region. This substantiates the lucrative business opportunities in these regions and enables the companies to introduce and commercialize quality endocrine tests thereby enhancing the strength of the market players.