Market Insights
The rise in lifestyle changes has led to a growing prevalence of obesity, cardiovascular diseases, and diabetes, which primarily drive the cholesterol testing kit market. As per statistics presented by Renew Bariatrics, Inc., around 775 million people were reported to suffer from obesity across the globe in 2017. The Organization for Economic Co-operation and Development (OECD) estimated the prevalence of obesity to increase until 2030, when 47% of the United States population, 39% of the Mexican population, and 35% of the UK population are expected to be obese. According to the World Health Organization (WHO), cardiovascular diseases accounted for 31% (17.7 million) of all global deaths in 2017 (data from that year). This factor would increase the demand for cholesterol testing kits during the forecast period from 2018 to 2026, thus contributing to the overall market growth.
The new cholesterol testing kits make it possible to monitor cholesterol levels on a regular basis and take appropriate treatment. These kits are portable, easy to use, and readily available in retail pharmacies and various online stores. Sedentary lifestyles have also increased the number of patients with high cholesterol levels, resulting in an increase in demand for cholesterol testing kits. This increase in prevalence does raise health concerns among a certain share of the population, thereby increasing the demand for preventive diagnosis. Furthermore, rising demand for home testing devices and minimally invasive test procedures, as well as the availability of appropriate reimbursement policies, have fueled the overall market growth.
The global market for cholesterol testing kits has a large market reach. North America accounted for the maximum market share in 2017 and will continue similar trends during the forecast period from 2018 to 2026. Growing obesity and cardiovascular disease prevalence, structured reimbursement policies, developed healthcare infrastructure, and ongoing research activities in developing advanced technologies all contribute to North America’s overall market growth. Additionally, the growing trend of preventive healthcare measures further increases the demand for cholesterol testing kits in North America. Because of the rising population, poor lifestyle habits, and increased awareness about the prevention of obesity and other cardiovascular diseases, Asia Pacific is expected to grow at the fastest CAGR. However, the high pricing of these devices could have a negative impact on the expansion of the market in low-income regions.
The market for cholesterol testing kits is segmented as follows:
By Product Type
- Analyzer Kits
- Test strip kits
By End-users
By Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The growing trend in lifestyle changes has developed a significantly large patient pool for CVDs and therefore led to an increase in investment among major players in developing cholesterol-testing kits. The major industrial players competing in this market comprise AccuTech LLC, Akers Biosciences, Inc., Alere, Inc., Bioptik, Ltd., F. Hoffmann-La Roche, Ltd., General Life Biotechnology Co., Ltd., and PTS Diagnostics, Inc.
This report offers the following:
- An in-depth look at the global market for cholesterol testing kits.
- Market analysis of all the considered segments for the period from 2016 to 2026, considering 2016 to be the historical year and 2017 the base year.
- Compound annual growth rates for the period from 2018 to 2026 of the entire market and each segment have also been included in this report.
- Information about market dynamics with regard to drivers, opportunities, and restraints has also been incorporated within this report.
- A thorough understanding of the competitive landscape and profiles of the key industry leaders
