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Comprehensive Metabolic Panel (CMP) Testing Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region
Comprehensive Metabolic Panel (CMP) Testing Global Market Report 2024
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According to The Business Research Company's, The comprehensive metabolic panel (cmp) testing market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.94 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to rise in chronic diseases, demand for holistic health assessments, healthcare system emphasis on preventive care, rise in lifestyle-related conditions, patient-centric healthcare approach.
The comprehensive metabolic panel (cmp) testing market size is expected to see strong growth in the next few years. It will grow to $23.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to personalized medicine and precision healthcare, integration of cmp testing in telehealth services, demand for comprehensive health screenings, rise in wellness and preventive health initiatives, evolving healthcare policies and regulations. Major trends in the forecast period include continuous monitoring and longitudinal tracking, telemedicine-friendly reporting formats, standardization of reference ranges, integration of wearable health technology, emphasis on patient education and engagement.
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Market Drivers and Trends:
The increasing prevalence of cardiovascular diseases and diabetes is expected to propel the growth of the comprehensive metabolic panel (CMP) testing market going forward. Cardiovascular disorders affect the heart or blood vessels and are linked to atherosclerosis, the build-up of fatty deposits inside the arteries. Diabetes is a condition that develops when blood glucose levels are too high. Comprehensive metabolic panel (CMP) blood tests detect glucose levels. Thus, with the increasing cases of diabetes and cardiovascular diseases, the need for their diagnosis through blood tests such as the CMP blood test will support the market's growth. For instance, in December 2023, according to the Australian Institute of Health and Welfare, an Australia-based national agency that oversees public health and wellness, there were 13,700 doctor-certified fatalities attributable to CHD in 2020, increasing to 14,100 in 2021 and 14,900 in 2022. Furthermore, in June 2022, according to the International Diabetes Federation, a Belgium-based diabetes federation, the prevalence of diabetes had increased to 10.5% worldwide, with over half (44.7%) of people still undiagnosed. Therefore, the increasing prevalence of cardiovascular diseases and diabetes is driving the growth of the comprehensive metabolic panel (CMP) testing market.
Technological advancements are a key trend gaining popularity in the comprehensive metabolic panel (CMP) testing market. Major companies operating in the comprehensive metabolic panel (CMP) testing market are developing new technologies to sustain their position in the market. For instance, in April 2022, HealthifyMe, an Indian-based wellness and fitness services company, launched HealthifyPro, a flagship fitness plan. The HealthifyPro plan's metabolic panel is based on a blood test that may measure more than 80 different factors. The main components of HealthifyPro that are included to track users' health are a biosensor system (BIOS), a smart scale, health coaches, HealthifyMe's AI assistant, and a metabolic panel. It integrates data on glucose patterns with the users' food consumption and other exercise behaviors to create a personalized approach for each user.
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Major Key Players of the Market:
F Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Siemens Healthineers AG, Mayo Clinic, Laboratory Corporation of America Holdings, Mercy, Mount Sinai Health System, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Hologic Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Werfen SA, DiaSorin S.p.A., Randox Laboratories Ltd., ARUP Laboratories Inc., Invitae Corporation, Abaxis Inc., Metropolis Healthcare Limited, Clinical Reference Laboratory (CRL), Centogene AG, Spectra Laboratories, Unipath Systems Ltd., Scion Lab Services LLC, Weldon Biotech Pvt Ltd., Corona Pathology,Ulta Lab Tests LLC, Any Lab Test Now, Applied InGENuity Diagnostics LLC, Walk-In Lab LLC.
Comprehensive Metabolic Panel (CMP) Testing Market 2024 Key Insights:
• The comprehensive metabolic panel (cmp) testing market size is expected to see strong growth in the next few years. It will grow to $23.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Driving Forces In The Comprehensive Metabolic Panel (CMP) Testing Market Addressing The Rising Prevalence Of Cardiovascular Diseases And Diabetes
• Advancements In Comprehensive Metabolic Panel (CMP) Testing Healthifyme's Healthifypro Plan Revolutionizes Health Monitoring
• North America was the largest region in the comprehensive metabolic panel (CMP) testing market in 2023
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