Endocrine Testing Market to reach USD 5.8 billion by 2032, Says Graphical Research Powered by GMI

Endocrine testing industry is anticipated to observe 8.4% CAGR between 2023 and 2032 attributed to rising prevalence of endocrine disorders and supportive government funding initiatives.

Selbyville, Delaware, June 05, 2023 (GLOBE NEWSWIRE) --

Endocrine Testing Market size will be worth USD 5.8 billion by 2032. Growing advancements in endocrine testing are a prominent factor shaping the industry outlook. Liquid chromatography-mass spectrometry, molecular diagnostics, and wearable and implantable devices have gained widespread traction in the field of endocrine testing. In fact, advancements in molecular diagnostics have made the detection of genetic mutations associated with endocrine disorders possible and facilitated personalized medicine approaches in managing these conditions.

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Recent advancements in TSH tests to boost market growth

The endocrine testing market from thyroid stimulating hormone (TSH) test segment will garner commendable gains by 2032. Continuous technological upgrades in TSH tests are contributing to segment expansion. Moreover, industry players are focusing on automated immunoassay systems, which help streamline the TSH testing process, improving efficiency and reducing the turnaround time for results. These systems offer standardized and accurate measurements, minimizing the potential for human error. Additionally, the development of point-of-care testing devices to enable rapid TSH measurements at the bedside or in outpatient settings will enhance market performance.

Superior sensitivity of chromatography technology to favor its adoption

The endocrine testing market share from the chromatography segment will exhibit considerable CAGR by 2032. Chromatographic methods offer high sensitivity and specificity, thus, helping detect and quantify endocrine analytes even at significantly low concentrations. This is particularly important for measuring hormones that exist in trace amounts in biological fluids. Additionally, it enables the determination of the exact concentration of hormones or metabolites present in a sample, aiding in the diagnosis and monitoring of endocrine disorders.

Browse key industry insights spread across 200 pages with 377 market data tables & 18 figures & charts from the report, " Endocrine Testing Market Size By Test Type (Human Chorionic Gonadotropin (hCG) Hormone Test, Insulin Test), By Technology (Mass Spectroscopy, Immunoassay), By End-use (Hospitals, Clinical Laboratories) & Forecast, 2023 – 2032" In detail along with the table of contents:

https://www.gminsights.com/industry-analysis/endocrine-testing-market

Hospitals to emerge as a prominent end use segment

The endocrine testing industry size from the hospitals segment will witness huge gains through 2032. The high availability of advanced imaging equipment in hospitals helps perform ultrasound, CT scans, or MRI easily to evaluate the structure and function of endocrine organs. Additionally, these facilities offer immediate access to emergency care services, ensuring prompt diagnosis, stabilization, and treatment in critical situations. This ensures patients receive appropriate follow-up, medication adjustments, and essential interventions to optimize their endocrine health.

Asia Pacific to dominate the endocrine testing market

Asia Pacific endocrine testing industry size will grow substantially through 2032. Rising prevalence of thyroid disorders, attributed to lifestyle changes, and other environmental and genetic factors has increased the need for endocrine testing in the region. Moreover, rapidly expanding healthcare infrastructure is further creating a strong impetus for regional expansion. As per IBEF, the medical device market in India will hit USD 50 billion by 2025.

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Endocrine Testing Industry Players

Abbott Laboratories, Inc., Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Siemens Healthineers AG, Ortho Clinical Diagnostics, and Laboratory Corporation of America Holdings, among others

Endocrine Testing Market News:

In June 2022, Abbott Laboratories, Inc., an American multinational medical device manufacturer, announced the development of a biowearable that will help track ketone and glucose levels in one sensor. This system has also received a device designation from the U.S. FDA.

Partial Table of Contents (ToC) of the report:

Chapter 2 Executive Summary

2.1 Endocrine testing industry 360º synopsis, 2018 – 2032

2.2 Business trends

2.3 Regional trends

2.4 Test type trends

2.5 Technology trends

2.6 End-use trends

Chapter 3 Endocrine Testing Industry Insights

3.1 Industry ecosystem analysis

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing prevalence of diabetes, thyroid, and obesity

3.2.1.2 Rising prevalence of endocrine disorders

3.2.1.3 Supportive government funding initiatives

3.2.1.4 Technological developments

3.2.1.5 Growing awareness of routine health monitoring

3.2.2 Industry pitfalls & challenges

3.2.2.1 High cost for the development of testing technologies

3.2.2.2 Lack of awareness in underdeveloped & developing countries

3.3 Growth potential analysis

3.3.1 By test type

3.3.2 By technology

3.3.3 By end-use

3.4 COVID- 19 impact analysis

3.5 Regulatory landscape

3.5.1 U.S.

3.5.2 Europe

3.6 Reimbursement scenario

3.7 Key market trends

3.8 Technological advancements

3.9 Application potential

3.10 Initiatives landscape

3.11 GAP analysis

3.12 Porter's analysis

3.13 PESTEL analysis

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