The Business Research Company’s report on the Lipid Panel Testing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the lipid panel testing market in recent years?
The increasing number of cardiovascular and diabetic diseases is expected to boost the lipid panel testing market going forward. Cardiovascular disease is a group of conditions that affect the heart and blood vessels, whereas Diabetes is a metabolic disorder that affects the body’s ability to produce insulin effectively, leading to high blood sugar levels. Lipid panel testing is an essential diagnostic tool for identifying individuals at high risk of developing cardiovascular diseases or already developed cardiovascular disease. It is also be used to monitor the effectiveness of treatment in individuals who have already developed cardiovascular or diabetes disease, allowing healthcare providers to adjust treatment plans as needed to achieve target lipid levels and reduce the risk of another ailment. For instance, in September 2023, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 17.9 million deaths from cardiovascular diseases. Furthermore, in 2022, according to the Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report, a US-based government agency, diabetes cases in US is increased to reach 37.3 million in 2022. Therefore, improving cardiovascular and diabetic diseases will drive the lipid panel testing market forward.
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What is the projected market size of the lipid panel testing industry, and how is it expected to grow?
The lipid panel testing market size has grown strongly in recent years. It will grow from$10.88 billion in 2024 to $11.71 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increased incidence of cardiovascular diseases, growth in awareness of preventive healthcare, government initiatives for cardiovascular health, lifestyle changes and dietary patterns, aging population and chronic diseases
The lipid panel testing market size is expected to see strong growth in the next few years. It will grow to “$16.45 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to genetic testing and personalized medicine, focus on early detection and prevention, expansion of home testing kits, focus on value-based care models, increased screening in high-risk populations. Major trends in the forecast period include point-of-care testing, integration with electronic health records, genetic lipid testing, home-based testing kits, telemedicine integration, educational initiatives for lipid management.
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Who are the key players driving competition in the lipid panel testing market?
Major companies operating in the lipid panel testing market include Abbott Laboratories, Beckman Coulter Inc., F. Hoffmann-La Roche Ltd., Randox Laboratories Ltd., Thermo Fisher Scientific Inc., PTS Diagnostics, Quest Diagnostics Incorporated, Alere Inc., EuroMedix International, Boston Heart Diagnostics Corporation, Eurofins Scientific SE, Spark Diagnostics Pvt Ltd., Everlywell Inc., Horiba ABX SAS, Siemens Healthcare GmbH, Nova Biomedical Corporation, Bio-Rad Laboratories Inc., Danaher Corporation, DiaSorin S.p.A., EKF Diagnostics Holdings plc, Grifols S.A., Hologic Inc., Luminex Corporation, Meridian Bioscience Inc., Ortho Clinical Diagnostics LLC
What key trends are expected to drive the linac devices market during the forecast period?
Product innovations are a key trend gaining popularity in the lipid panel testing market. Major companies operating in the lipid panel testing market are focused on developing innovative products to sustain their position in the market. For Instance, in October 2022, Boston Heart Diagnostics, a US-based biotechnology company released LipoMap, a panel of 33 lipid, lipoprotein, and apolipoprotein tests, with most comprehensive assessments of lipid metabolism commercially available. It uncovers treatable and reversible lipid abnormalities that cause cardiovascular disease (CVD), allowing for greater personalization of treatment and follow-up testing.
Which key geographies are driving the growth of the lipid panel testing market?
North America was the largest region in the lipid panel testing market in 2024. Asia-Pacific is expected to be the fastest growing region in the global lipid panel testing market during the forecast period. The regions covered in the lipid panel testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the lipid panel testing market?
The lipid panel testing market covered in this report is segmented –
1) By Product And Services: Devices, Kits, Services
2) By Prescription Mode: Prescription-Based Testing, OTC-Based Testing
3) By Application: Hyperlipidemia, Hypertriglyceridemia, Familial Hypercholesterolemia, Hypo-Lipoproteinemia, Tangier Disease, Atherosclerosis, Other Applications
4) By End User: Hospital, Specialty Clinics And Physician Offices, Pathology Laboratories, Diagnostic Clinics, Ambulatory Surgical Centers, Reference Laboratories, Academic And Research Institutes, Other End-Users
Subsegments:
1) By Devices: Automated Analyzers, Point-Of-Care Testing Devices, Spectrophotometers
2) By Kits: Test Kits For Cholesterol, HDL And LDL Kits, Triglyceride Test Kits
3) By Services: Laboratory Testing Services, Diagnostic Services, Health Screening Services
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What defines the structure and scope of the lipid panel testing market?
Lipid panel testing to a blood test that measuring the levels of various lipids or fats in the blood. It is used to assess a person’s risk of developing cardiovascular disease.
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