PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447087
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1447087
According to Stratistics MRC, the Global Cholesterol Test Market is accounted for $6.84 billion in 2023 and is expected to reach $13.5 billion by 2030 growing at a CAGR of 10.3% during the forecast period. A cholesterol test is a diagnostic procedure aimed at measuring the levels of cholesterol in the blood. It assesses various types of cholesterol, including low-density lipoprotein (LDL), high-density lipoprotein (HDL), and triglycerides, which are essential for evaluating cardiovascular health. Typically conducted through a blood sample, cholesterol testing helps identify individuals at risk of developing heart disease or experiencing cardiovascular events.
According to the World Health Organization (WHO), in 2022, over 650 million adults were obese.
Rising prevalence of cardiovascular diseases
Cardiovascular diseases, including heart attacks and strokes, are leading causes of morbidity and mortality globally. High cholesterol levels are a major risk factor for these diseases. As the prevalence of cardiovascular diseases continues to rise, there is a growing need for cholesterol testing. Cholesterol testing helps in assessing the levels of different cholesterol components, such as low-density lipoprotein (LDL) cholesterol, high-density lipoprotein (HDL) cholesterol, and triglycerides. Overall, the rising prevalence of cardiovascular diseases is a factor driving market demand.
High cost
The high costs associated with cholesterol testing procedures, including laboratory tests, diagnostic equipment, and professional fees, can create financial barriers for individuals, particularly those without adequate insurance coverage or access to healthcare services. Moreover, healthcare providers face challenges in balancing the need to provide affordable testing options with maintaining profitability and covering operational expenses. As a result, high costs present a significant threat to the cholesterol test market.
Technological advancements
The integration of novel biomarkers and multiplex testing platforms enables comprehensive lipid profiling, providing a more holistic assessment of cardiovascular risk factors beyond traditional cholesterol measurements. Furthermore, advancements in laboratory-based cholesterol testing technologies have led to the introduction of automated analyzers and high-throughput systems, enhancing testing efficiency and scalability while reducing human error and operational costs.
Limited awareness
Many individuals remain unaware of the importance of cholesterol testing in assessing their risk of heart disease and stroke, leading to low testing rates, especially among asymptomatic individuals. Additionally, misconceptions or misinformation about cholesterol testing procedures, perceived invasiveness, or discomfort associated with blood draws may further deter individuals from seeking testing. Therefore, limited awareness is a significant factor limiting market expansion.
Covid-19 Impact
The COVID-19 pandemic had a negative impact on the cholesterol test market. Initially, the focus of healthcare systems shifted towards managing the crisis, leading to disruptions in routine medical services, including cholesterol testing and preventive care. Many non-urgent medical appointments were postponed or cancelled, resulting in a decline in cholesterol screenings. Additionally, concerns about virus transmission prompted individuals to avoid healthcare facilities unless absolutely necessary, further reducing the number of people seeking cholesterol tests.
The test kits segment is expected to be the largest during the forecast period
The test kits segment is estimated to hold the largest share. These kits typically contain all the necessary components for conducting cholesterol tests outside of traditional laboratory settings. They often include test strips, lancets for blood sampling, and solutions or reagents required for analysis. Healthcare providers also rely on cholesterol test kits for rapid assessments during patient consultations or health screenings. Additionally, these kits offer quick results, allowing for timely interventions and treatment decisions.
The total cholesterol test segment is expected to have the highest CAGR during the forecast period
The total cholesterol test segment is anticipated to have lucrative growth during the forecast period. This test measures the total amount of cholesterol present in the blood, including both high-density lipoprotein (HDL) cholesterol and low-density lipoprotein (LDL) cholesterol, along with triglycerides. The total cholesterol test plays a critical role in preventive healthcare, providing valuable insights into an individual's lipid profile and overall cardiovascular health status.
North America commanded the largest market share during the extrapolated period owing to the robust healthcare infrastructure, advanced diagnostic technologies, and a high prevalence of cardiovascular disease risk factors. The region is home to numerous pharmaceutical and biotechnology companies engaged in developing innovative cholesterol-lowering medications and diagnostic technologies, driving market growth and innovation. Additionally, public health campaigns and educational efforts raise awareness about the importance of cholesterol management and healthy lifestyle choices, further driving demand for cholesterol testing services and products.
Asia Pacific is expected to witness profitable growth over the projection period. Countries in the Asia Pacific region are experiencing demographic shifts, including aging populations and the emergence of a middle-class segment with greater disposable income, driving demand for healthcare services, including cholesterol testing. Additionally, government initiatives aimed at addressing non-communicable diseases, including cardiovascular health promotion and disease prevention programs, further propel market growth in this region.
Key players in the market
Some of the key players in the Cholesterol Test Market include Thermo Fisher Scientific, Cell Biolabs, Inc., Randox Laboratories Ltd., Clinical Reference Laboratory, Inc., Quest Diagnostics Incorporated, Laboratory Corporation of America Holdings, Alere Inc., PTS Diagnostics, Eurofins Scientific, F. Hoffmann-La Roche AG, Horiba Ltd, Danaher Corp, Abbott Laboratories and Nova Biomedical.
In December 2023, Randox Laboratories Ltd and Transgene entered into a scientific collaboration, with the aim of joining their competences to deliver a novel therapeutic approach to oncology therapies.
In May 2023, Thermo Fisher, the world leader in serving science, has signed a Memorandum of Understanding ("MOU") with the National Research and Innovation Agency of Indonesia (BRIN, Badan Riset dan Inovasi Nasional) to enable and enhance the country's national research and innovation infrastructure and capability.
In February 2023, Roche announced that it has expanded its collaboration with Janssen Biotech Inc. (Janssen) to create companion diagnostics for targeted therapies, further strengthening research and innovation activities.
In November 2022, Danaher Corporation, a global science and technology innovator, announced that it has entered a strategic partnership with Duke University to form its first Danaher Beacon for Gene Therapy Innovation.