During the forecast period, the Ferritin Testing market is expected to achieve a Compound Annual Growth Rate (CAGR) of 5.1%, increasing from US$ 372 million in 2019 to an estimated valuation of US$ 556 million by 2027.
The significance of measuring the amount of ferritin in the bloodstream is the primary reason behind the high demand for Ferritin Testing services. Ferritin is the chief protein responsible for storing iron in the body’s red blood cells. Therefore, Ferritin Testing plays a critical role in quantifying the iron levels in the blood, which, in turn, contributes to the increased sales of Ferritin Testing services.
The escalating sales of Ferritin Testing services can be attributed to their ability to identify iron deficiency-related issues and abnormalities in iron storage in the body.
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Advent of Telehealth and Virtual Care to Create Tailwind for the Ferritin Testing Market Growth
Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.
During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.
Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Ferritin Testing market.
Key Ferritin Testing Market Takeaways and Projections
- The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
- Germany Ferritin Testing market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
- China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
- India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.
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Report Benefits & Key Questions Answered
- Ferritin Testing Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Ferritin Testing market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
- Ferritin Testing Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Ferritin Testing market. As per the survey, Ferritin Testing sales will project steady growth over the forecast period.
- Ferritin Testing Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Ferritin Testing market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
- Ferritin Testing Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.
Competitive Landscape Analysis
The latest study conducted by FMI provides in-depth insights into the global Ferritin Testing market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Ferritin Testing market.
Some of the prominent market players are profiled by FMI are:
Eurolyser Diagnostica GmbH., Cortez Diagnostics Inc., Pointe Scientific, Inc., bioMérieux SA, Humankind Ventures Ltd., Doctorcall, Aviva Systems Biology Corporation, Abnova Corporation, Biopanda Reagents Ltd, Biocompare. Monobind Inc. and others
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Region
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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