A new Transparency Market Research report states that the global endocrine testing market, pegged at US$6.1 bn in 2014, is predicted to reach US$12.8 bn by 2023, by rising at a CAGR of 8.50% from 2015 to 2023. The title of the report is “Endocrine Testing Market – Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2015 – 2023.”
Endocrine hormones and glands constitute the endocrine system and secrete hormones that are significant for the regulation of numerous body mechanisms such as development, growth, and homeostasis. The endocrine system also helps in the management of responses to injuries and stress, maintenance of water, balance of electrolytes, and nutrient absorption, among others. A number of tests are performed for monitoring endocrine hormone levels. These tests help in detecting deviations in the hormone production process that may result in certain kinds of endocrine disorders including menopause, thyroid dysfunction, infertility, and others.
According to the report, the rising aging population and increasing obese and diabetic population globally are amongst the chief factors stimulating the growth of the endocrine testing market. In addition, a number of technological advancements have also created new growth opportunities in the market. On the other hand, factors such as the absence of healthcare awareness in developing nations and the soaring cost of technology may inhibit the growth of the market in the coming years.
On the basis of test, the report segments the market into 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 others (gastrin, thymosin, secretin, etc). Amongst these, the segment of TSH led the market in 2014 and is predicted to maintain its dominance throughout the forecast horizon. This is owing to the increasing occurrence of thyroid disorders amongst the aging population in this region. On the other hand, the segment of insulin testing is predicted to be the most swiftly developing segment in the forecast horizon.
By technology, the market is segmented into tandem mass spectrometry, immunoassay (enzyme immunoassays, radioimmunoassays (RIA)) technologies, monoclonal and polyclonal antibody technologies, sensor (electrochemical, biosensors, etc.) technologies, clinical chemistry technologies, and others (liquid chromatography + mass spectrometry (LC-MS)). Amongst these, the segment of immunoassay led the market in 2014 and is predicted to expand at a 9.10% CAGR from 2015 to 2023.
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By end use, the report segments the market into commercial laboratories, hospitals, ambulatory care centers, physician offices, and home-based tests. Commercial laboratories led the market in 2014 and are poised to rise at a 9.30% CAGR between 2015 and 2023. On the other hand, home-based tests are predicted to experience the highest growth rate in the forecast horizon owing to the rising preference of customers for instant test results globally.
Geographically, the report segments the market for endocrine testing into Asia Pacific, North America, Europe, and Rest of the World (RoW). In 2014, North America constituted the largest share in the market for endocrine testing owing to the rising healthcare awareness amongst patients and the increasing occurrence of obesity and diabetes here. However, Asia Pacific is the most promising market for endocrine testing and is predicted to rise at the highest CAGR of 10.30% between 2015 and 2023.
F-Hoffman La Roche Ltd., Abbott Laboratories, DiaSorin, Agilent Technologies, and Siemens Healthcare, among others, are the major players operating in the market, as per this study.