Metabolic Panel Testing Market size was valued at USD 11.23 billion in 2023 and is expected to exceed USD 34.02 billion by the end of 2036, expanding at over 8.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of metabolic panel testing is evaluated at USD 12.03 billion.
The growth of the market can be attributed to the increasing awareness among people regarding early diagnosis and treatment of diseases, and growing prevalence of chronic diseases around the world. Along with these, rising number of incidences lifestyle-associated diseases, including obesity, coupled with the escalating adoption of unhealthy habits such as smoking, excessive drinking and lack of physical activities are also expected to drive significant market growth in the forthcoming years. According to the World Health Organization (WHO), about 38.2 million children under the age of 5 years were overweight or obese in the year 2019. Worldwide obesity has grown by more than 3 times since 1975. Furthermore, developments in point-of-care technologies and diagnostics globally are projected to offer lucrative opportunities for market growth in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
8.9% |
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Base Year Market Size (2023) |
USD 11.23 billion |
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Forecast Year Market Size (2036) |
USD 34.02 billion |
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Regional Scope |
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The market is segmented by disease into kidney diseases, diabetes, liver diseases, and others, out of which, the kidney diseases segment is anticipated to hold the largest share in the global metabolic panel testing market. This can be accounted to the growing occurrence of kidney diseases, and rapid shift in the lifestyle of people worldwide. Apart from this, the diabetes segment is predicted to observe significant growth over the forecast period owing to the increasing cases of diabetes and cardiovascular diseases, and rising demand for immediate diagnosis of these diseases. Additionally, on the basis of end user, the laboratories segment is assessed to grab the largest share over the forecast period ascribing to the high preference of patients to get test results from reputed laboratories, and their affiliation with blood banks, hospitals and specialty diagnostic centers.
Our in-depth analysis of the global market includes the following segments
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By Disease |
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By Test Type |
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By End-User
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Regionally, the global metabolic panel testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is set to dominate majority revenue share by 2036, impelled by improvements in healthcare infrastructure, and rising disposable income in the region.
North America Market Analysis
Moreover, the market in North America is expected to grab the largest share during the forecast period owing to the high healthcare spending, and strong commercial presence of metabolic panel diagnostics in the region. As per the Centers for Medicare & Medicaid Services (CMS), the healthcare spending in the United States grew by 9.7 percent in 2020, amounting for a value of USD 1.4 trillion. As a share of the nation's GDP, health spending accounted for 19.7 percent. In addition, favorable reimbursement policies provided by the government is also projected to drive market growth in the region in the coming years.
April 2020- Nova Biomedical declared that the U.S. Food and Drug Administration (FDA) approved its Stat Profile Prime Plus critical care blood gas analyzer for point-of-care use. The technology provides 19 essential critical care tests, including blood gases, electrolytes, metabolites, hematology, and co-oximetry.
June 2021- Abbott launched rapid point-of-care HBA1C test to help professionals in the diagnosis of diabetes and the assessment of patient’s risk to develop the condition.
Author Credits: Radhika Pawar
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