Endocrine Testing Market Poised for Strong Growth, Expected to Reach $2.55 Billion by 2024

The Business Research Company’s Endocrine Testing Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 19, 2024 /EINPresswire.com/ -- The endocrine testing market has experienced robust growth, expanding from $2.33 billion in 2023 to an estimated $2.55 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.4%. This growth in the historic period can be attributed to advancements in understanding hormones and endocrine pathways, standardization of diagnostic tests, public health initiatives, and increased patient advocacy and empowerment.

Impact Of Diabetes Prevalence On Endocrine Testing Market Growth
The rising prevalence of diabetes is expected to drive significant growth in the endocrine testing market. Diabetes, characterized by elevated blood sugar levels, continues to increase due to factors like sedentary lifestyles and genetic predisposition. Endocrine tests such as hemoglobin A1c, fasting plasma glucose, and C-peptide tests play a crucial role in diagnosing diabetes, monitoring glucose levels, and evaluating insulin production and sensitivity. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes worldwide in 2021, a number projected to escalate further. This prevalence underscores the critical need for enhanced diagnostic capabilities and proactive healthcare management strategies.

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Major Players and Market Trends
Leading companies driving innovation in the endocrine testing market include Thermo Fisher Scientific Inc., Abbott Laboratories, Roche Holding, and Siemens Healthineers. These companies are at the forefront of integrating omics technologies, artificial intelligence (AI), and machine learning into endocrine diagnostics. For instance, Roche Holding AG launched a point-of-care NT-proBNP test in April 2024, specifically tailored for screening diabetes patients at risk of cardiovascular diseases like heart failure, thereby enabling timely intervention and improved patient outcomes.

Trends in the Forecast Period
Future trends in the endocrine testing market include advancements in biomarker detection, quality assurance initiatives, and collaborative research efforts aimed at enhancing diagnostic accuracy and treatment efficacy. These trends are expected to accelerate market growth and foster innovation across the healthcare sector.

Segments:
• Test Type: Estradiol (E2) Test, Follicle Stimulating Hormone (FSH) Test, Human Chorionic Gonadotropin (hCG) Hormone Test, Luteinizing Hormone (LH) Test, Dehydroepiandrosterone Sulfate (DHEAS) Test, Progesterone Test, Testosterone Test, Thyroid Stimulating Hormone (TSH) Test, Prolactin Test, Other Types
• Technology: Tandem Mass Spectrometry, Immunoassay, Monoclonal & Polyclonal Antibody Technologies, Sensor Technology, Clinical Chemistry, Other Technologies
• End-User: Hospitals, Clinical Laboratories, Diagnostic Centers, Other End-Users

Region Insights: North America Leads, Asia-Pacific Shows Rapid Growth
North America emerged as the largest region in the endocrine testing market in 2023, driven by advanced healthcare infrastructure and significant investments in healthcare research and development. Meanwhile, Asia-Pacific is poised to witness the fastest growth during the forecast period, fueled by increasing healthcare expenditure and rising awareness about early disease detection and management.

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The endocrine testing market is evolving rapidly, driven by technological advancements, demographic changes, and increasing disease prevalence worldwide. With a strong emphasis on innovation and collaboration, stakeholders in the healthcare sector are well-positioned to capitalize on emerging opportunities and address evolving healthcare needs effectively.

Endocrine Testing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Endocrine Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on endocrine testing market size, endocrine testing market drivers and trends, endocrine testing market major players, competitors' revenues, market positioning, and market growth across geographies. The endocrine testing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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