The Future of Endocrine Testing….. COVID-19 & Its Impact….


The global endocrine testing market is expected to reach USD 13.02 billion by 2024, according to a new report by Grand View Research, Inc. Increasing geriatric population and growing rate of diseases such as obesity and diabetes is expected to drive the market growth.
The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.
The presence of a large population over 60 years, having lower immunity levels and are prone to neurological diseases, cardiac problems, cancers, and spinal injuries, is a high impact-rendering driver for the growth of endocrine testing market over the forecast period. Sedentary lifestyles of people with unhealthy food habits and increasing stress levels resulted in an increase in the diabetic and obese population. This demographic is highly susceptible to endocrine diseases and is anticipated to contribute to industry growth substantially.
Technological advancements in terms of accuracy and affordability resulted in an increased usage of these tests. For instance, the influx of test kits, for home-based testing has fostered the demand for these techniques, helping the market to grow. Advancement in technology ensures diagnosis in less time and faster initiation of treatment.
Software have been designed to manage the workflow in the laboratories. Newer mobile apps have been introduced wherein a patient can be reminded about his appointment or test, and he will be able to contact physician whenever he wants. These advancements in technology is anticipated to propel the market growth over the forecast period.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/endocrine-testing-market/request/rs1
Further key findings from the report suggest:
·         The global thyroid stimulating hormone testing market is anticipated to reach 3.6 billion by 2024, at a CAGR of 10.2% from 2016 to 2024
·         In terms of test type, insulin test is expected to show the fastest growth over the forecast period
·         In terms of technology, Tandem Mass Spectrometry (TMS) held the largest share in 2016 and is expected to dominate the market during the forecast period
·         In terms of technology, sensor technology is expected to show the fastest growth during the forecast period
·         North America is expected to dominate the market followed by Europe and Asia Pacific region
·         Asia Pacific is projected to drive the market growth and provide numerous opportunities to industry players. Key factors attributed to market growth include growing R&D expenditure by the government and private agencies in order to improve diagnostic and therapeutic areas in the region
·         Some of the key companies present in the market include Abbott Laboratories, AB Sciex, Agilent Technologies, Biomedical Technologies, bioMerieux SA, Bio Rad Laboratories, DiaSorin, Hoffmann-La Roche Ltd., LabCorp, and Quest Diagnostics.
The global endocrine testing market size was valued at USD 7.04 billion in 2016 and is expected to witness a CAGR of 8.0% over the forecast period. Growing incidences of endocrine disorders such as hyperthyroidism and adrenal insufficiency is predicted to boost the demand for endocrine testing.
The growing diabetic, geriatric and obese population worldwide is expected to promote the market growth. Furthermore, growing healthcare awareness among individuals coupled with increasing government support is expected to increase the diagnosis at an early, thereby contributing to the growth of the endocrine testing market.
The growing prevalence of life style diseases is also expected to contribute to the demand for endocrine test, thereby contributing to the market growth. Rising cases for diseases such as hypothyroidism and hyperthyroidism is also expected to propel the demand for advanced endocrine testing technologies.
Advancement in technologies such as introduction of easy-to-operate test kits facilitated the penetration of home-based diagnosis, which is user-friendly and cost-effective. Moreover, the target of this market is the geriatric population owing to its increased susceptibility to chronic diseases and the high risk of developing complications at an older age, which makes continuous monitoring essential in these elderly patients.
Owing to increasing health awareness around the world, there have been advancement in home health care along with easy operating home diagnostic kits which are cost effective and designed with precision. Many new mass spectrometric technologies have been introduced which deliver accurate results in less time and they are highly sensitive.
Mass Spectrometry is now coupled with liquid chromatography for more precision. Telehealth services have also been introduced by some commercial laboratories and stand-alone clinics. Fully automated systems have been designed for faster diagnosis and increased sample size testing.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-endocrine-testing-market
Grand View Research has segmented the global endocrine testing market report on the basis of test type, technology, end use, and region:
Test Type Outlook (Revenue, USD Million, 2013 - 2024)
·         Estradiol
·         FSH
·         hCG
·         LH
·         DHEAS
·         Progesterone
·         Testosterone
·         TSH
·         Prolactin
·         Cortisol
·         Insulin
·         Others
Technology Outlook (Revenue, USD Million, 2013 - 2024)
·         Tandem Mass Spectrometry
·         Immunoassay
·         Monoclonal & Polyclonal antibody technologies
·         Sensor technology
·         Clinical chemistry
·         Others
End Use Outlook (Revenue, USD Million, 2013 - 2024)
·         Hospital
·         Commercial Laboratory
·         Ambulatory Care Centers
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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