Newark, New Castle, USA, March 06, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global endocrine function diagnostics market is expected to clock US$ 6.08 billion by 2030 and to grow at a CAGR of 7.4% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Endocrine Function Diagnostics Market – Global Outlook & Forecast 2022-2030”
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Market Drivers
The rising frequency of endocrine disorders such diabetes, thyroid, and adrenal disorders primarily drives the market for endocrine function diagnostics. According to the International Diabetes Federation, around 537 million adults live with diabetes globally. Additionally, governments and non-government organizations worldwide are taking steps to generate money and raise awareness about endocrine diagnosis, significantly contributing to the expansion of the market for endocrine function diagnostics.
The expanding use of cutting-edge technologies increases the diagnostic test's accuracy and makes it easier to use. The market for endocrine function diagnostics is growing due to the rise in disorders linked to unhealthy lifestyles and the increased desire for early diagnosis. The market for endocrine function diagnostics is booming since the key industry players consistently spend on R&D to enhance endocrine testing.
The global endocrine function diagnostics market has been analyzed from four perspectives: Test Type, Technology, End User, and Region.
Excerpts from ‘By Test Type Segmentation’
Based on test type, the global endocrine function diagnostics market is classified in:
- Follicle Stimulating Hormone (FSH) Test
- Human Chorionic Gonadotropin (Hcg) Hormone Test
- Luteinizing Hormone (LH) Test
- Estradiol (E2) Test
- Dehydroepiandrosterone Sulfate (DHEAS) Test
- Progesterone Test
- Testosterone Test
- Thyroid Stimulating Hormone (TSH) Test
- Prolactin Test
- Cortisol Test
- Insulin Test
The market for endocrine function diagnostics is led by the human chorionic gonadotropin (hCG) hormone testing segment in 2021. The popularity of easy self-test pregnancy kits and the demand for quantitative hCG estimation at hospitals or laboratories are both contributing causes to the growth of the hCG test. The rise in the number of pregnant women and the measurement of hCG levels to find anomalies at different stages of pregnancy are further factors driving the segment revenue. The endocrine testing sector will grow due to the use of hCG in treating infertility, both in men and women.
Excerpts from ‘By Technology Segmentation’
The global endocrine function diagnostics market is segmented based on technology in:
- Chromatography
- Nucleic Acid Based
- Mass Spectroscopy
- Immunoassay
With the biggest market revenue share in 2021, the immunoassay segment will dominate the endocrine function diagnostics market. The widespread availability of numerous devices and analyzers that use different immunoassay detection technologies accounts for the segment's sizable market share. The availability of tests for the function of endocrine and reproductive hormones that use immunoassays is another aspect that adds to the segment's highest revenue generation. Additionally, the high precision of immunoassay results increases the demand for immunoassay technology.
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Excerpts from ‘By Region Segmentation’
Based on region, the global endocrine function diagnostics market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America dominated the global endocrine function diagnostics market in 2021, followed by Europe. Asia Pacific market is anticipated to grow at the fastest revenue CAGR during the forecast period. A significant portion of North America is largely related to the rising rates of obesity and diabetes. Additionally, the availability of accessible and reasonably priced diagnostic tests in the area promotes regional growth. Similarly, the region's high healthcare spending capacity and favorable reimbursement policies foster regional expansion. Furthermore, the presence of several market incumbents in North America, especially the U.S., is anticipated to accelerate regional development.
Excerpts from ‘Competitive Landscape’
The prominent players operating in the global endocrine function diagnostics market are:
- Abbott Laboratories Inc.
- Agilent Technologies Inc.
- bioMerieux SA
- Bio-Rad Laboratories Inc.
- AB Sciex
- F. Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories, Inc.
- Siemens Healthineers
- Danaher Corporation
- DiaSorin S.p.A.
- Immunodiagnostic Systems
- Laboratory Corporation of America Holdings (LabCorp)
- Quest Diagnostics Incorporated
- Fujirebio Inc.
- Thermo Fisher Scientific Inc.
- Ortho Clinical Diagnostics
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL ENDOCRINE FUNCTION DIAGNOSTICS MARKET - ANALYSIS & FORECAST, BY TEST TYPE
- Follicle Stimulating Hormone (FSH) Test
- Human Chorionic Gonadotropin (hCG) Hormone Test
- Luteinizing Hormone (LH) Test
- Estradiol (E2) Test
- Dehydroepiandrosterone sulfate (DHEAS) Test
- Progesterone Test
- Testosterone Test
- Thyroid Stimulating Hormone (TSH) Test
- Prolactin Test
- Cortisol Test
- Insulin Test
- Others
- GLOBAL ENDOCRINE FUNCTION DIAGNOSTICS MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY
- Chromatography
- Nucleic Acid Based
- Mass Spectroscopy
- Immunoassay
- GLOBAL ENDOCRINE FUNCTION DIAGNOSTICS MARKET - ANALYSIS & FORECAST, BY END-USER
- Hospitals Laboratories
- Commercial Laboratories
- Home Care Settings
- Ambulatory Care Centers
- Others
Toc Continued…
Endocrine Function Diagnostics Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 3.2 billion |
| Revenue forecast in 2030 | US$ 6.08 billion |
| Growth Rate | CAGR of 7.4% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Historical Year | 2020 |
| Segments covered | Test Type, Technology, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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