Metabolic Panel Testing Market Share

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.

Frequently Asked Questions (FAQ)

The major factors driving market growth owing to the increasing awareness among people regarding early diagnosis and treatment of diseases, and growing prevalence of chronic diseases around the world.

The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022-2031.

The major players in the market are SYNLAB International GmbH, Abbott Laboratories, Quest Diagnostics, Inc., Laboratory Corporation of America Holdings, and others.

Metabolic Panel Testing Market Share