Rise in lifestyle changes has led to growing prevalence of obesity, cardiovascular diseases and diabetes, which primarily drive the cholesterol testing kits market. As per statistics presented by Renew Bariatrics, Inc., around 775 million 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, wherein 47% of United States population, 39% Mexico population and 35% UK population are expected to be obese. According to the World Health Organization (WHO), cardiovascular diseases accounted to 31% (17.7 million) of all the global deaths (2017 data). 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 enable one to monitor cholesterol levels periodically and take suitable treatment. These kits are portable, easy to use and readily available in retail pharmacy and various online stores. The sedentary lifestyle trend has also increased the rates of patients with high cholesterol levels thus gaining demand for cholesterol testing kits. This increase in prevalence does raise health concerns among a certain share of population, thereby increasing the demand for preventive diagnosis. Additionally, growing preference for home testing devices, minimal invasive test procedures and the availability of suitable reimbursement policies have catalysed the overall market growth.
Cholesterol testing kits market comprises an extensive market outreach across the globe. North America accounted for maximum market share in 2017 and will continue similar trends during the forecast period from 2018 to 2026. Growing prevalence of obesity & cardiovascular diseases, structured reimbursement policies, developed healthcare infrastructure and continuous research activities in developing advanced technologies back the overall market growth in North America. Additionally, growing trend of preventive healthcare measures further increases the demand for cholesterol testing kits in North America. Asia Pacific, expected to grow with fastest CAGR owing to the surging population, poor lifestyle patterns and rise in awareness on prevention of obesity and other cardiovascular diseases. However, the high pricing of these devices could have a negative impact on the market expansion in low-income regions.
The cholesterol testing kits market is segmented as follows:
- By Product Type
- Analyser Kits
- Test Strips Kits
- By End Users
- By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Rest of Middle East & Africa
The growing trend in lifestyle changes has developed a significantly large patient pool of 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:
- A complete overview on the global cholesterol testing kits market
- 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 within this report
- Information of market dynamics with regards to drivers, opportunities and restraints have also been incorporated within this report
- A thorough understanding on the competitive landscape and profiles of the key industrial leaders