Cholesterol Screening/ Cholesterol Testing Services Market Overview
“The Cholesterol Screening/ Cholesterol Testing Services Market is expected to grow at 8.3% CAGR from 2023-2030 & to reach above USD 32.58 Billion by 2030 from USD 21.03 Billion in 2023.”
All the cells in our body contain cholesterol, a waxy, fatty-like substance. If your blood cholesterol level is too high, it may join with other blood constituents to produce plaque, which adheres to the lining of your arteries.
Another name for a comprehensive cholesterol test is a lipid panel or lipid profile. It can be used by your doctor to assess the levels of "good" and "bad" cholesterol as well as a form of fat called triglycerides in your blood.
With the prevalence of cardiovascular diseases and obesity rising, the market for cholesterol testing services globally is anticipated to have considerable growth in the upcoming years. Aside from increasing knowledge and adoption of preventive healthcare, another factor that will boost the market is doctors' preference for lab testing over self-testing.
The government's actions will also raise test quality. Furthermore, the prevalence of cardiovascular illnesses would rise due to the growing senior population worldwide. Furthermore, increase in healthcare expenditure and rise in public awareness about the cardiovascular disease, its causes, treatment, and prevention also boost the growth of the market.
The elevated levels of cholesterol create health threats such as sharp risk of stroke & heart diseases and account for many deaths. Cholesterol screening services allow early detection of the problems related to high cholesterol levels, avoiding complications, and increasing the survival chances of patients.
On the other hand, the rapidly growing home/self-testing market and emergence of non-invasive cholesterol testing methods are expected to restrain the growth of this cholesterol testing services market to a certain extent.
Demand Outlook
Obesity is a condition linked to elevated cholesterol. The need for these tests will increase as the number of ailments linked to high cholesterol increases, which will propel the global market for laboratory cholesterol testing. Services for cholesterol lab testing help to diagnose problems early, prevent complications, and increase the odds of survival for patients.
This is expected to lead to an increase in the demand for lab tests for cholesterol. The government agencies segment is predicted to grow significantly in the next years due to their increased focus on preventive treatment and early detection to avoid serious medical problems.
To provide top-notch diagnostic testing services globally, the key market players team up with organisations affiliated with the federal, state, and local governments. Adults between the ages of 40 and 59 have the highest levels of total cholesterol. A sedentary lifestyle, which has been connected to the emergence of several illnesses, including obesity, diabetes, and heart disease, is mostly to blame for this.
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Market Dynamics
Growth Drivers & Restraints:
The world Cholesterol Screening/ Cholesterol Testing Services Market is predicted to witness significant growth in the next few years due to the rising prevalence of heart diseases and overweight. Another aspect that will propel the market is physicians' preference for laboratory testing over self-testing. This is in addition to increasing awareness and acceptance of preventive health. The initiatives of the government will also increase the accuracy of testing. Additionally, the increase in elderly people across the globe will also raise the risk of cardiovascular disease.
In addition, an growth in the cost of healthcare and an increase in public awareness of heart disease as well as its causes, treatment and prevention, also contribute to the development in the industry.
The high levels of cholesterol pose health risks, including a high chances of heart and stroke illnesses and are responsible for an enormous number death. Cholesterol screening can aid in the early detection of problems caused by high cholesterol, which can help in avoiding complications and enhancing the chances of survival for patients.
However, the fast-growing market for self-testing and home testing and the emergence of non-invasive cholesterol testing techniques are likely to limit the expansion of the market for cholesterol testing to a certain degree.
Covid-19 Impact
The severe acute respiratory syndrome coronavirus is the culprit behind the current coronavirus disease-19 (COVID-19) epidemic. When infected with the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that causes coronavirus illness-19, patients with cardiovascular disease (CVD), hypertension, and overweight/obesity typically have a more severe clinical course (COVID-19).
This risk increases as your arteries narrow due to an accumulation of poor cholesterol. The type of plaque known as plaque prevents blood from reaching and leaving your heart and other organs. High cholesterol has been linked to a higher chance of contracting several ailments. There is even some evidence that some COVID-19 patients experience greater mortality as a result of having raised cholesterol levels. Following the COVID-19 pandemic, people are getting fatter and are more likely to acquire cardiovascular diseases.
Cholesterol Screening/ Cholesterol Testing Services Market Segment Analysis
Cholesterol screening/ cholesterol testing services market is segmented based on type of customer, and region.
Based on type of customer, a significant portion of the market was made up of diagnostic centers. Providing patients with a variety of diagnostic tests, such as cholesterol screening, is a specialty of diagnostic centres. These institutions frequently contain cutting-edge laboratories, knowledgeable staff, and specialised tools to carry out various tests quickly and accurately. A few factors have contributed to the rise in popularity of diagnostic centres in recent years.
In comparison to hospitals, they typically have lower wait periods and convenient access to diagnostic procedures. Additionally, diagnostic centres might offer specialised services that are just focused on diagnostic testing, enabling them to provide patients seeking cholesterol screening with a streamlined and effective experience. Hospitals and clinics, in addition to diagnostic facilities, are essential in the delivery of services for cholesterol screening and testing. To suit the needs of their patients, these healthcare facilities frequently have their own internal laboratories or may work with other diagnostic facilities.
Competitive Landscape of the Cholesterol Screening/ Cholesterol Testing Services Market
The cholesterol screening/ cholesterol testing services market key players include ACM Medical Laboratory, Clinical Reference Laboratory, Inc., Laboratory Corporation of America Holdings, Eurofins Scientific, Quest Diagnostics Incorporated, SYNLAB International GmbH, Fresenius Medical Care Holdings, Inc., Spectra Laboratories Inc., Unilabs, Bio-Reference Laboratories Inc.
Recent Developments in Cholesterol Screening/ Cholesterol Testing Services Market
On June 2021, ACM Global Laboratories, Inc. is pleased to announced the rebranding of ABS Laboratories to ACM Bioanalytical Services. Founded over two decades ago by Drs. Colin Feyerabend and Mira Doig, ABS Laboratories was purchased by ACM Global Laboratories in 2018 as it expanded its central laboratory testing offerings for clinical trials to include bioanalytical services. ABS Laboratories, now ACM Bioanalytical Services, specialised in complex assay development and validation for the quantification of drugs, metabolites and biomarkers in biological samples used in pharmaceutical research and development.
On February 2021, Clinical Reference Laboratory (CRL), one of the largest privately held clinical testing laboratories in the U.S., and Walgreens announced that the FDA-authorized CRL Rapid Response COVID-19 Saliva Test is available through Walgreens Find Care®, a digital health platform available on the Walgreens app and Walgreens.com. Sold under CRL's HealthConfirm® brand, the COVID-19 Saliva Test is non-invasive and highly accurate, offered consumers the convenience of self-collecting the test right in their homes without supervision.
Regional Insights
In terms of revenue, North America holds a significant portion of the worldwide market and is expected to continue to dominate during the forecast period. The growing senior population, which has increased the base of patients who can be served, is one of the main causes of this high percentage in North America.
This modification is anticipated to increase awareness of preventative strategies like clinical diagnostics, particularly cholesterol screenings, to lower the occurrence of unpleasant events brought on by illnesses like stroke, diabetes, and cardiovascular disease. The U.S. is a significant market in North America for companies that offer cholesterol testing services.
Segments Covered in the Cholesterol Screening/ Cholesterol Testing Services Market
Cholesterol Screening/ Cholesterol Testing Services Market by Type of Customer
- Physicians/Providers and Hospitals
- Government Agencies
- Diagnostic centers
- Patients
- Others
Cholesterol Screening/ Cholesterol Testing Services Market by Region
- North America
- Asia Pacific
- Europe
- South America
- Middle East and Africa
Frequently asked questions with answers
What is the worth of cholesterol screening/ cholesterol testing services market?
Cholesterol Screening/ Cholesterol Testing Services Market is expected to grow at 8.3% CAGR from 2023-2030 & to reach above USD 32.58 Billion by 2030 from USD 21.03 Billion in 2023.
What is the size of the North America the cholesterol screening/ cholesterol testing services market?
North America held more than 41% of the cholesterol screening/ cholesterol testing services market revenue share in 2021 and will witness expansion in the forecast period.
What are some of the market's driving forces?
The primary driver accelerating the growth of the market for cholesterol testing is the decline in physical activity. Additionally, the market is being driven by the need for better cholesterol management and routine check-ups and screenings. The market for over-the-counter cholesterol test kits is also anticipated to increase as a result of rising electronics miniaturisation, which is also projected to play a beneficial role in the creation of self-testing kits.
Which are the top companies to hold the market share in cholesterol screening/ cholesterol testing services market?
The cholesterol screening/ cholesterol testing services market key players include ACM Medical Laboratory, Clinical Reference Laboratory, Inc., Laboratory Corporation of America Holdings, Eurofins Scientific, Quest Diagnostics Incorporated, SYNLAB International GmbH, Fresenius Medical Care Holdings, Inc., Spectra Laboratories Inc., Unilabs, Bio-Reference Laboratories Inc.
What is the leading application of cholesterol screening/ cholesterol testing services market?
Cholesterol screening/ cholesterol testing services market has leading application in diagnostic centers industry.
Which is the largest regional market for cholesterol screening/ cholesterol testing services market?
In terms of market share and revenue, North America now rules the cholesterol testing market and will maintain this dominance during the projection period. This is a result of an increase in the number of elderly people, which has led to an increase in the number of cholesterol patients in this area. The focus will likely shift to clinical diagnostics, particularly cholesterol tests, in order to limit the bad events brought on by diseases like stroke, diabetes, and cardiovascular disease.
