Global Cholesterol Lab Testing Services Market: Overview
The prevalence of sedentary lifestyles of people is expected to boost the demand for cholesterol lab testing services worldwide. Cholesterol is a waxy, fat-like substance present in the bloodstream, nerve fibers, and bodily organs. A person’s level of cholesterol is determined by factors such as heredity, consumption of food with high amounts of saturated fats (for example, animal products), and metabolic conditions such as diabetes, age, gender, and so on. In 2008, about 39% of adults aged 25 and above were diagnosed with high cholesterol levels, according to the World Health Organization (WHO).
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The report incorporates complete information about the factors driving market growth as well as those restricting it. The key trends, opportunities, and leading segments of the present and projected periods have been studied. The major players in the global market for cholesterol lab testing services have been analyzed, wherein their market shares, key market strategies, recent developments, and product portfolios are discussed.
Global Cholesterol Lab Testing Services Market: Drivers and Restraints
Raised cholesterol levels pose health hazards such as heightened risk of stroke and heart diseases, accounting for a large number of deaths. Cholesterol lab testing services enable early detection of problems, preventing complications and raising the survival chances of patients. This is expected to fuel the growth of the cholesterol lab testing services market.
Some other major growth drivers of the market are gradual awareness about the dangers posed by cholesterol and education about the importance of these tests, rising incidence of cardiovascular diseases, stroke, and other heart diseases, growing healthcare expenditure, government initiatives, increasing geriatric population, and technological advancements in the area of cholesterol lab testing services. Low fruit and vegetable intake, unhealthy eating habits such as preference for convenience foods and fast foods, and lack of physical inactivity have also been driving the growth of this market.
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As the deposits of cholesterol layer up the inner lining of arteries, atherosclerosis is developed. Obesity is another condition related to high cholesterol levels. As the number of such cholesterol-induced diseases increases, the need for these tests will also increase, thereby expanding the market for global cholesterol lab testing services.
On the contrary, the presence of home or self-testing kits might hinder growth, apart from the restriction imposed by the introduction of non-invasive cholesterol testing procedures.
Global Cholesterol Screening Market: Regional Outlook
Based on geography, the global market for cholesterol lab testing services can be segmented into Europe, North America, Asia Pacific, and the Rest of the World. North America is slated to emerge as a key market over the forecast period, with the U.S. at the lead. However, Europe also has a great potential for expansion, due to high number of people with high cholesterol.
Asia Pacific is also expected to expand at a significant rate, displaying a promising CAGR during the forecast period. The growth of this region can be attributed to the rising number of cholesterol lab testing services, ever-increasing population, higher incidence of cardiovascular diseases, and increase in healthcare expenditure.
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Companies Mentioned in the Report
Some of the major companies operating in the market for cholesterol lab testing services are Eurofins Scientific, SYNLAB International GmbH, Laboratory Corporation of America Holdings (LabCorp), Spectra Laboratories Inc., and Quest Diagnostics Incorporated. A new service was introduced by Quest Diagnostics in November 2016. Under this service – called QuestDirect, patients can manage their health more efficiently through self-tests, wherein a physician is not required to conduct tests.