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Cholesterol Test Market Trends, Market Research And Forecast Report To 2033
Cholesterol Test Market Trends
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According to The Business Research Company's, The cholesterol test market size has grown strongly in recent years. It will grow from $8.31 billion in 2023 to $9.1 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to cardiovascular disease awareness, research on heart health, public health campaigns, physician recommendations, patient education.
The cholesterol test market size is expected to see strong growth in the next few years. It will grow to $12.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to integration in corporate wellness, precision nutrition influence, health conscious consumerism, genetic testing integration, personalized medicine shift. Major trends in the forecast period include cholesterol-targeted therapies, integration with health apps, cholesterol education platforms, comprehensive lipid panels, point-of-care testing expansion.
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Market Drivers and Trends:
The rise in the prevalence of cardiovascular diseases is expected to propel the growth of the cholesterol test market. Cardiovascular diseases (CVDs) are a category of heart and blood vessel disorders, including coronary heart disease, stroke, peripheral arterial disease, aortic disease, and other conditions. A cholesterol test provides individuals and doctors with vital information about the chance of developing heart disease. For instance, in April 2023, according to the World Heart Federation, over 500 million individuals worldwide will remain impacted by cardiovascular diseases. These conditions led to 20.5 million fatalities in 2021, representing nearly one-third of the total global mortality and reflecting a notable rise from the previously estimated 121 million deaths attributed to cardiovascular diseases. Therefore, rising death and the prevalence of cardiovascular diseases will drive the cholesterol test market.
Technological advancement is a key trend gaining popularity in the cholesterol test market. Major companies and research institutes focus on developing innovative solutions for cheaper, more efficient, and advanced cholesterol testing. For instance, in November 2022, Ural Federal University (UrFU), a Russia-based education and research institute, introduced a microfluidic chip, a sensor device for measuring blood cholesterol levels, where all system elements are integrated, is printed on a 3D printer. The new technique used in the sensor requires a minimal volume of blood to identify cholesterol levels, where blood is placed in an analyzing chip containing an acetonitrile-based copper chloride solution. This chip includes an electrode connected to a voltametric analyzer, which provides the analysis results quicker using magnetic nanoparticles with polymers with molecular imprints that preferentially absorb cholesterol that filter out other blood elements necessary for blood composition.
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Major Key Players of the Market:
CVS Health Corporation, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers GmbH, Fujifilm Holdings Corporation, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Eurofins Scientific SE, Mindray Medical International Limited, SYNLAB International GmbH, Beckman Coulter Inc., PerkinElmer Inc., Horiba Ltd., Sigma-Aldrich Corp, Randox Laboratories Ltd., Nova Biomedical Corp, Abcam plc, Sinocare Inc., ACM Global Laboratories, Clinical Reference Laboratory Inc., Sekisui Diagnostics LLC, Everlywell Inc., SpectraCell Laboratories Inc., Spectra Laboratories Inc., LetsGetChecked USA, Ulta Lab Tests LLC, Cell Biolabs Inc., BioReference Health LLC, Diazyme Laboratories Inc.
Cholesterol Test Market 2024 Key Insights:
• The cholesterol test market size is expected to see strong growth in the next few years. It will grow to $12.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%.
• Cholesterol Test Market Driven By Increasing Prevalence Of Cardiovascular Diseases
• Cholesterol Test Market Driven By Technological Advancements In Blood Analysis
• North America was the largest region in the cholesterol test market in 2023
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