Currently valued at US$ 2536.7 Million, the global endocrine testing market demand is forecasted to expand at a CAGR of 8.5%. By 2032, it is expected to attain a market value of US$ 5735 Million due to the rising prevalence of diabetes cases.
Over the past five years, the incidence of endocrine disorders has surged in tandem with advances in diagnostic techniques. Sedentary lifestyles, unhealthy diets, and alcohol consumption are some of the key drivers expected to propel market growth in the years ahead.
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As the world’s population ages, effective disease management solutions are needed to address the increasing prevalence of health disorders. This will result in a surge in demand for endocrine testing methodologies and solutions, leading to a sharp increase in demand for endocrine testing. Meanwhile, the global directed energy weapons market is benefiting from the increasing demand for precise and non-lethal weapons.
North America, Europe, and East Asia are anticipated to remain at the forefront of the endocrine testing market over the next five years and will sustain their dominance throughout the assessment period, as per the report.
Key Takeaways from the Market Study
- According to the report, the endocrine testing market is expected to reach US$ 2536.7 million by 2023
- The endocrine testing industry is expected to grow at a CAGR of 8.5% between 2023 and 2033.
- By 2033, endocrine testing is expected to reach a valuation of US$ 5735 million
- By Technology, the follicle-stimulating hormone (FSH) segment dominates the market with a 25% share and is projected to remain this way over the forecast period.
- The endocrine testing market in North America is expected to grow 47.2% by 2033
“High prevalence of diabetes, increased spending on research and development, and technological advancements in endocrine testing equipment are likely to transform the endocrine testing market in the coming years,” comments an analyst at FMI.
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Competitive Landscape
Abbott Laboratories, AB Sciex, Agilent Technologies Inc., bioMerieux SA, Bio-Rad Laboratories Inc., DiaSorin S.p.A., F. Hoffmann-La Roche Ltd., Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated and Ortho Clinical Diagnostics
A number of strategies are being adopted by these firms in an attempt to increase their market share and gain a competitive advantage, including new product launches, facility expansions, mergers, collaborations, partnerships, and acquisitions. For instance,
- In August 2022, Mira Fertility will launch its Mira Fertility Ovum Wand which is intended to monitor the levels of the follicle-stimulating hormone (FSH) in urine. Ovulation is triggered by FSH by stimulating the growth of follicles. This product is listed as an over-the-counter tool by the US Food and Drug Administration (FDA), and it is scheduled to launch in October. It can detect lab-accurate FSH levels, helping identify and predict menopause, assess fertility, and predict ovulation.
- In May 2022, Berlin-based Inne.io startup announced an additional €9.3 million funding round led by DSM Venturing. Calm Storm Ventures and Borski Fund also participated, along with prominent angel investors Taavet Hinrikus (Wise), Fiona Pathiraja, and Rolf Schromgens (Trivago). With over 100,000 points of hormone data collected, Inne has assisted thousands of women in Switzerland, Germany, Austria, and the UK to track their progesterone levels through its mini lab and medical device registration in 2019.
More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the endocrine testing market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
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Key Segments Covered in the endocrine testing Market Industry Survey
Endocrine Testing Market by Test Type:
- Estradiol (E2) Test in Endocrine Testing
- Human Chorionic Gonadotropin (hCG) Hormone Test in Endocrine Testing
- Follicle Stimulating Hormone (FSH) Test in Endocrine Testing
- Luteinizing Hormone (LH) Test in Endocrine Testing
- Progesterone Test in Endocrine Testing
- Testosterone Test in Endocrine Testing
- Thyroid Stimulating Hormone (TSH) Test in Endocrine Testing
- Dehydroepiandrosterone Sulfate (DHEAS) Test in Endocrine Testing
- Prolactin Test in Endocrine Testing
- Insulin Test in Endocrine Testing
- Cortisol Test in Endocrine Testing
- Others Endocrine Testing
Endocrine Testing Market by Technology:
- Mass Spectroscopy Endocrine Testing
- Chromatography Endocrine Testing
- Immunoassay Endocrine Testing
- Nucleic Acid Based Endocrine Testing
Endocrine Testing Market by End-user:
- Endocrine Testing at Hospitals
- Endocrine Testing at Ambulatory Care Centers
- Endocrine Testing at Commercial Laboratories
- Other Endocrine Testing
FMIs Domain Knowledge in Industrial Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the endocrine testing sector. Our expertise in recognizing the challenges and trends impacting the global endocrine testing industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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