PUBLISHER: The Business Research Company | PRODUCT CODE: 1428150
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428150
A comprehensive metabolic panel (CMP) test is a blood analysis consisting of 14 distinct parameters that provide crucial insights into the body's chemical balance and metabolic processes. This test serves as a vital tool for evaluating nutritional levels, liver and kidney functionality, and aids in diagnosing, screening, and monitoring various health conditions.
The primary diseases and health conditions assessed through comprehensive metabolic panel (CMP) testing include kidney disease, liver disease, diabetes, and other metabolic disorders. Kidney disease is characterized by impaired kidney function, affecting its ability to effectively filter blood and perform essential functions. The test encompasses evaluations of proteins, electrolytes, kidney function, liver function, and glucose levels, conducted in both laboratory settings and point-of-care (PoC) environments.
The comprehensive metabolic panel (CMP) testing market research report is one of a series of new reports from The Business Research Company that provides comprehensive metabolic panel (CMP) testing market statistics, including comprehensive metabolic panel (CMP) testing industry global market size, regional shares, competitors with a comprehensive metabolic panel (CMP) testing market share, detailed comprehensive metabolic panel (CMP) testing market segments, market trends and opportunities, and any further data you may need to thrive in the comprehensive metabolic panel (CMP) testing industry. This comprehensive metabolic panel (CMP) testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The comprehensive metabolic panel (cmp) testing market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.94 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historic period can be attributed to several factors, including an increase in chronic diseases, a growing demand for comprehensive health assessments, a shift within healthcare systems towards preventive care, a rise in conditions related to lifestyle factors, and an emphasis on patient-centric healthcare approaches. These factors collectively contributed to the expansion and evolution of healthcare services and practices during that period.
The comprehensive metabolic panel (cmp) testing market size is expected to see strong growth in the next few years. It will grow to $23.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing emphasis on personalized medicine and precision healthcare, the integration of Comprehensive Metabolic Panel (CMP) testing within telehealth services, a growing demand for comprehensive health screenings, an upsurge in wellness and preventive health initiatives, and ongoing evolution in healthcare policies and regulations. Major trends expected in this period encompass continuous monitoring and longitudinal tracking of health parameters, reporting formats tailored for telemedicine compatibility, standardization of reference ranges for better comparability, integration of wearable health technology for data collection, and a heightened focus on patient education and engagement within the healthcare ecosystem.
The anticipated rise in the prevalence of cardiovascular diseases and diabetes is expected to be a driving force behind the growth of the comprehensive metabolic panel (CMP) testing market. Cardiovascular diseases, which affect the heart and blood vessels, are often associated with atherosclerosis-the accumulation of fatty deposits within arteries. Concurrently, diabetes, characterized by elevated blood glucose levels, can be identified through comprehensive metabolic panel (CMP) blood tests. As cases of diabetes and cardiovascular diseases increase, the demand for diagnostic blood tests, including the CMP blood test, is likely to surge. For instance, data from December 2023 provided by the Australian Institute of Health and Welfare indicated a rising trend in doctor-certified fatalities attributed to coronary heart disease (CHD), reaching 14,900 in 2022. Additionally, in June 2022, the International Diabetes Federation reported a global diabetes prevalence of 10.5%, with a significant portion (44.7%) of individuals remaining undiagnosed. Consequently, the growing incidence of cardiovascular diseases and diabetes is a key driver propelling the comprehensive metabolic panel (CMP) testing market.
The increasing geriatric population is anticipated to contribute significantly to the expansion of the comprehensive metabolic panel (CMP) testing market in the foreseeable future. The term 'geriatric population' refers to individuals who are elderly, typically aged 65 or older, requiring more frequent health tests to monitor their well-being and address age-related health issues. Metabolic panel testing becomes crucial in this demographic, serving as a tool to detect underlying conditions such as kidney diseases, hormonal imbalances, and diabetes in older adults. In November 2022, America's Health Rankings reported that the United States is projected to have more than 55.8 million individuals aged 65 and above in 2021, accounting for approximately 16.8% of the total population. As this demographic continues to grow, the demand for comprehensive metabolic panel (CMP) testing is expected to rise, making the geriatric population a key driver in the comprehensive metabolic panel (CMP) testing market.
The comprehensive metabolic panel (CMP) testing market is witnessing a significant trend of technological advancements, with major companies investing in innovative solutions to fortify their market positions. In April 2022, HealthifyMe, an Indian wellness and fitness services company, introduced HealthifyPro, a flagship fitness plan incorporating a metabolic panel based on a comprehensive blood test measuring over 80 different factors. HealthifyPro utilizes a biosensor system, a smart scale, health coaches, an AI assistant, and a metabolic panel to track users' health. The integration of glucose patterns, dietary habits, and exercise behaviors enables the creation of personalized health approaches for each user, showcasing the role of technology in advancing metabolic panel testing.
Strategic partnerships are a prominent approach adopted by major companies in the comprehensive metabolic panel (CMP) testing market. These partnerships aim to enhance production capabilities, streamline testing processes, and meet the increasing demand for CMP testing across various industries. In August 2022, Abbott Laboratories, a US-based healthcare company, collaborated with WW International Inc., a provider of weight loss and fitness services. The partnership focuses on assisting individuals with diabetes in better understanding and managing their health. By integrating WeightWatchers' diabetes-specific weight management program with Abbott's FreeStyle Libre offerings, the collaboration aims to provide a seamless mobile experience, offering valuable insights for individuals with diabetes to make informed dietary adjustments and improve blood sugar levels, ultimately empowering them to take control of their health.
In March 2023, Fluxery, a medical diagnostic company headquartered in the United States, completed the acquisition of particular personnel, assets, and licensed electrochemical biosensing technologies from InnaMed Inc. The financial details of the transaction remain undisclosed. This strategic acquisition by Fluxery significantly expands its detection capabilities, allowing for the analysis of clinical chemistry and small molecules in various domains, including human healthcare, equine care, and veterinary services for small animals. InnaMed Inc., a decentralized blood testing company in the US, specializes in electrochemical biosensor technology.
Major companies operating in the comprehensive metabolic panel (cmp) testing market report are F Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Siemens Healthineers AG, Mayo Clinic, Laboratory Corporation of America Holdings, Mercy, Mount Sinai Health System, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Hologic Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Werfen SA, DiaSorin S.p.A., Randox Laboratories Ltd., ARUP Laboratories Inc., Invitae Corporation, Abaxis Inc., Metropolis Healthcare Limited, Clinical Reference Laboratory (CRL), Centogene AG, Spectra Laboratories, Unipath Systems Ltd., Scion Lab Services LLC, Weldon Biotech Pvt Ltd., Corona Pathology,Ulta Lab Tests LLC, Any Lab Test Now, Applied InGENuity Diagnostics LLC, Walk-In Lab LLC.
North America was the largest region in the comprehensive metabolic panel (CMP) testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the comprehensive metabolic panel (cmp) testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the comprehensive metabolic panel (cmp) testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The comprehensive metabolic panel (CMP) testing market includes revenues earned by entities by providing glucose tests, sodium tests, and albumin tests. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Comprehensive Metabolic Panel (CMP) Testing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on comprehensive metabolic panel (cmp) testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for comprehensive metabolic panel (cmp) testing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The comprehensive metabolic panel (cmp) testing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.