Endocrine Testing Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Endocrine Testing market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Endocrine Testing Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Endocrine Testing Market forecast.
The Endocrine Testing Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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Endocrine Testing Market is expected to reach USD 13.02 billion by 2024. The endocrine system is a combined system that contains numerous glands situated throughout the body. Together with the nervous system, the endocrine system regulates and controls several internal physical functions. Although the nervous system uses nerve impulses as a means of control, the endocrine system uses chemical messenger molecules called hormones. With the help of network of glands, hormones are produced, stored, and secreted.
Thymus, adrenal glands, testes, hypothalamus, pituitary gland, ovaries, pineal gland, islet cells in the pancreas, thyroid, and parathyroid are glands of endocrine system. The endocrine testing market is estimated to grow at a significant CAGR of 8.0% over the future period as the scope and its applications are rising enormously across the globe.
Endocrine testing industry is segmented based on test type, technology, end use, and region. Insulin, estradiol (E2), cortisol, Follicle Stimulating (FSH), prolactin, Human Chorionic Gonadotropin (hCG), Thyroid Stimulating Hormone (TSH), Luteinizing Hormone (LH), testosterone, Dehydroepiandrosterone sulfate (DHEAS), progesterone, and other test type could be explored in endocrine testing market in the forecast period.
The market may be categorized based on end users like ambulatory care centers, hospital, commercial laboratory, and others could be explored in the foremost period. The hospital sector accounted for the largest market share and is estimated to continue its dominance in the forecast period. However, the commercial laboratory sector is estimated to grow at fastest pace in the coming years, as presence of skilled workers and accessibility of enhanced infrastructure.
North America accounted for the largest market share of endocrine testing and is estimated to continue its dominance in the upcoming years. The reason behind the overall market growth could be presence of advanced tertiary, secondary, and primary care hospitals, government initiative, enhanced compensation network, satisfactory government funding policy, and rising health awareness. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR of 9.1% in the foremost period. The aspects that may be ascribed to the growth comprise rising R&D expenditure by private agencies and government to improve therapeutic and diagnostic areas in the region. The developing countries like India and China are the major consumers of endocrine testing industry in this region, as developing healthcare infrastructure and government compensation policies.
The key players of endocrine testing market are Quest Diagnostics, Abbott Laboratories, LabCorp., AB Sciex, Hoffmann-La Roche Ltd., Agilent Technologies, DiaSorin, Biomedical Technologies, Bio-Rad Laboratories, and bioMerieux SA. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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