Cholesterol Testing Products Market
The global cholesterol testing products market size was valued at US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
A cholesterol test is an essential tool that determines the risk of building plaques in arteries that can steer to narrowed or blocked arteries throughout the body.
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Advancement in nanotechnology-based approaches for diagnosing hypercholesterolemia is expected to drive the market growth
According to the International Journal, published in 2019, With the advancement in research, there have been substantial developments in imaging and diagnostic techniques for detecting and identifying diseased states in vivo. Nanotechnology has tremendous potential to increase the sensitivity, selectivity of the conventional diagnostic methods owing to its nanoscale size and large surface area. Nowadays, nanomaterials have been designed to provide multiple functions, i.e., different components can be used for both diagnostic and therapeutic approaches. Several works have demonstrated that the nanoparticles assist in the improved quantitative estimation of lipid levels. For instance, a study analyzed the lipoprotein profile using gold nanoparticles conjugated with small, dense and low-density lipoprotein (sdLDL). It has been evident from the results that improved peak efficiency was obtained when gold nanoparticles (AuNPs) were added to the sample. Therefore, the advancement in the nanotechnology-based approaches for diagnosing hypercholesterolemia is expected to drive the market's growth.
Approaches to noninvasive cholesterol testing methods are expected to hamper the market growth
Hypercholesterolemia causes cardiovascular disease, a disorder of the heart and blood vessels, one of the most significant causes of death globally. It needs to be anticipated by monitoring blood cholesterol levels regularly. The current method of monitoring blood cholesterol levels is using an invasive technique by collecting blood samples. But noninvasive technique for monitoring blood cholesterol levels is an alternate approach that uses sensors utilizing infrared light absorption in body tissues to simplify measuring blood cholesterol levels regularly for patients with hypercholesterolemia. Therefore, from the above statements, the market is expected to get hampered in the forecast period.
The COVID-19 pandemic has affected the healthcare systems and has moderately impacted the market. During the pandemic, significant advances have been made in identifying specific patient characteristics associated with different disease severity and clinical outcomes. For instance, pre-existing comorbidities such as hypertension, obesity and diabetes, clinical parameters such as hypoxia and CT-chest imaging findings, and circulating markers of inflammation, nutrition, hemostasis, and single organ function, have been examined in observational studies in COVID-19 patients to develop and approve scoring tools for risk scaliness and monitoring. Moreover, there is increasing evidence of significant modifications in lipid profile, especially total cholesterol, LDL-cholesterol, and HDL-cholesterol concentrations in hospitalized patients with COVID-19. While rising concentrations of cholesterol in the cell membrane have been related to increasing the binding activity of SARS-CoV-2, promoting membrane fusion and the successful entry of the virus to the host, clinical studies have shown acute declines in plasma/serum concentrations of total cholesterol, LDL-cholesterol, and HDL-cholesterol in patients with COVID-19.
Additionally, the COVID-19 pandemic continues to unfold, and companies are finding it difficult to make informed decisions about their products, supply chains, and regulatory obligations amid uncertainty. The pandemic is not likely to have long-term effects on end-users’ primary growth in cholesterol testing products.
The devices segment is expected to hold the largest market share in this market segment
The lipid panel segment is estimated for the largest market share in 2020. The segment growth benefits because it evaluates cardiovascular health by analyzing cholesterol in the blood, increasing prevalence of obesity, and technological advancements in lipid profile devices are factors that are expected to boost the market in the forecast period. For instance, according to the Centers for Disease Control and Prevention, approximately 18.2 million U.S. adults have coronary artery disease, 805,000 Americans have a heart attack each year, and 1 out of every four deaths in the United States is a result of cardiovascular disease. That’s a death every 37 seconds. Moreover, by 2035, the American Heart Association projects that more than 130 million U.S. adults will have heart disease. So it increases the demand for the lipid panel because it checks the cholesterol build-up in the blood vessels and arteries, damaging them and heightening the risk of problems like heart disease, stroke, and heart attack.
Moreover, the lipid panel is also used for other purposes, including screening, monitoring, measuring response to treatment and diagnosis. It also measures total cholesterol, low-density lipoprotein (LDL cholesterol, high-density lipoprotein (HDL cholesterol), triglycerides, very-low-density lipoprotein (VLDL cholesterol). Thus, the segment is expected to hold the largest market share in the forecast period from the above statements.
North America region holds the largest market share in the global cholesterol testing products market.
North America accounted for the largest revenue share in 2020. The region’s growth is attributed to the increasing prevalence of heart disease and obesity, rising product launches by the market players, and rising number of diagnostic centers; these are some factors expected to boost the region in the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), the proportion of US children, who are overweight or obese, which has climbed steadily for years, surged to unprecedented levels during the pandemic. Among a cohort of 432 302 people aged 2-19 years, the rate of body mass index (BMI) increase roughly doubled during the pandemic compared with the period preceding it. The greatest increases were seen in children aged 6-11 and those already overweight before the pandemic. Moreover, the Centers for Disease Control and Prevention reported that the number of states in which at least 35% of residents self-report obesity increased in 2020 from 12 to 16 and therefore, the US is the world’s most overweight large country, with an average BMI of 26.6 in men and 26.5 in women.
Additionally, Verichem Laboratories, a U.S.-based laboratory, has announced the availability of its liquid stable and ready-to-use HDL Cholesterol Verifier Kit intended for the calibration verification of both High-Density Lipoprotein (HDL) and Low-Density Lipoprotein (LDL) cholesterol assays on February 22, 2021. Therefore, it has increased the demand for cholesterol testing products. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.
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The cholesterol testing products market is vast with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Randox Laboratories, Biogenix Inc Pvt Ltd, Atlas Medical GmbH, Merck KGaA, Recombigen Laboratories Private Limited, ACON Laboratories, Inc., empowerDX Inc., Lepu Medical Technology, SD BIOSENSOR. INC, Ciga Healthcare and SpectraCell Laboratories, Inc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the cholesterol testing products market globally. For instance, Boditech Med, 10th September 2021, launched diagnostic kits essential for lifestyle diseases prevention, which includes ichroma™ LDL Cholesterol Direct and ichroma AST.
Randox Health, also known as Randox Laboratories, is a private limited company established in 1982, is an international health and toxicology company in the in vitro diagnostics industry headquartered in the UK. The company is the world's first biochip array technology developer, diagnostic solutions for hospitals, clinical, research and molecular labs, food testing, forensic toxicology, veterinary labs and life sciences. Moreover, it develops, manufactures and markets reagents and equipment for laboratory medicine, with a distribution network of 145 countries. Randox is the biggest polymerase chain reaction testing provider in the UK and Ireland.
Randox Laboratories is into continuous manufacturing of cholesterol testing products, including CH series, cholesterol.
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