At a compound annual growth rate (CAGR) of 8.5%, the global endocrinology testing market is presently valued at US$ 2536.7 million. Given the increasing incidence of diabetes and the ageing population, it is anticipated that the market would grow to US$ 5735 million by 2032.
The growing prevalence of endocrine disorders and the advancement of diagnostic techniques have skyrocketed in the last five years. Alcohol consumption, sedentary lifestyles, as well as unhealthy diets, are some of the key factors that are predicted to drive the market over the next few years.
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Several health disorders are affecting the population in the world and it has created a need for effective management of the diseases, which will result in a rise in demand for endocrine testing solutions and methodologies as the global population ages. As a result, there will be a dramatic increase in endocrine testing demand. The increasing demand for precise and non-lethal weapons is boosting the directed energy weapons market across the world.
According to the report, North America, Europe, and East Asia are expected to continue to be the leading markets for endocrine testing over the next five years and will maintain their dominance during the assessment period.
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.
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 (2017 to 2021) 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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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