Endocrine Testing Market is Forecast to Reach US$12.8 bn by the End of 2023

The global endocrine testing market has an oligopolistic market structure, as five leading companies held 90.0% share in the market in 2014. DiaSorin, Siemens Healthineers, Abbott Laboratories, Agilent Technologies, and F. Hoffmann-La Roche AG are five leading players, in which Roche was a dominant player in 2014. These companies are developing next-generation sequencing platforms, advanced lab automation systems, analyzers, and endocrine test kits. Currently, stiff competition exists in the market that is further expected to intensify in the near future. In addition to that, players are also focusing on developing innovative technologies and improving their product portfolio to achieve a sustainable share in the global market.

As per the TMR, the global endocrine testing market is estimated to attain a valuation of US$12.8 bn by the end of 2023. The market is predicted to rise at a healthy 8.50% CAGR during the forecast period 2015 to 2023.

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The global endocrine testing market is classified on the basis of end-user, types of test, and diagnostic technology. Based on end-user, the commercial laboratories segment is anticipated to lead the market due to high demand for endocrine testing in commercial laboratories with growing number of outsourcing various testing procedures. This segment is protected to maintain its dominance throughout the forecast tenure. Geographically, in terms of revenue North America is expected to lead the market. In addition to that, during the forecast tenure, this region is projected to hold 38.3% of shares. On the other hand, Asia Pacific is anticipated to rise at a progressive CAGR and can open numerous growth opportunities for the companies through the forecast tenure.

Sedentary Lifestyle and Increasing Prevalence to Diabetes to Fuel the Endocrine Testing Market

Globally, the demand for endocrine testing has increased due to rising prevalence of obesity in developed and developing regions. As obesity is caused by hormonal imbalance and its treatment requires endocrine testing that has increased the demand for this market. Moreover, obesity also leads to cardiovascular diseases, various types of cancer, strokes, and several diseases of the reproductive system. Sedentary lifestyle and high consumption of sugar leads to diabetes. Number of people suffering from diabetes has grown substantially across the globe. Thus, to keep the diabetes in control, insulin plays a significant role and helps in development and post diagnostic management of diabetes. Therefore is considered as a key segment on the glob al endocrine testing market. On the other hand, technological advancements have also helped in enhancing ways of endocrine testing.

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Unaffordability of Endocrine Testing In Developing Economies to Hamper Market Growth

On the contrary, certain factors hampering the growth of this market, such as high costs of various advanced endocrine testing technologies. Meanwhile, in developing and underdeveloped economies unaffordability of endocrine testing remains high, despite its uses in diagnosing various types of diseases. In addition to this, lack of awareness about healthcare in regions with low income has also impeded the growth of endocrine testing. However, increasing efforts by government to spread knowledge about the healthcare through various programs and projects in developing regions may minimize these restraints in coming years. Moreover, technological advancements such as improvements in diagnostic technology such as in liquid chromatography-mass spectrometry (LC-MS) is likely to open up lucrative opportunities for market players in the near future.

The information presented in this review is based on a TMR report, titled "Endocrine Testing Market (Test – Estradiol (E2) Test, Follicle Stimulating Hormone (FSH) Test, Human Chorionic Gonadotropin (hCG) Test, Luteinizing Hormone (LH) Test, Dehydroepiandrosterone sulfate (DHEAS) Test, Progesterone Test, Testosterone Test, Thyroid Stimulating Hormone (TSH) Test, Prolactin Test, Cortisol Test, Insulin Test, and Other Endocrine Tests; Diagnostic Technology – Tandem Mass spectrometry, Immunoassay Technologies, Monoclonal and Polyclonal Antibody Technologies, Sensor Technologies, Clinical Chemistry Technologies, and Liquid Chromatography-Mass Spectrometry (LC-MS); End User – Hospitals, Commercial Laboratories, Ambulatory Care Centers, Home Based Tests, and Physician Offices) – Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2015 – 2023."

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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.