Cholesterol Test Global Market Report 2024

A cholesterol test involves analyzing blood to measure the levels of cholesterol and other lipids present. Cholesterol, a waxy, fat-such as substance, is essential in small amounts for maintaining overall health.

The primary cholesterol test products include test kits, test strips, and other related items. Test kits are devices designed to monitor or detect specific chemical residues or attributes in an individual's blood. Cholesterol test kits are particularly convenient for home use, enabling individuals to monitor their cholesterol levels without the need for a visit to a healthcare facility. The various types of cholesterol tests include total cholesterol, high-density lipoprotein (HDL) cholesterol, low-density lipoprotein (LDL) cholesterol, and triglycerides or very low-density lipoprotein (VLDL) cholesterol tests. These cholesterol test products are distributed through over-the-counter and prescription-based channels, reaching various end-users such as hospitals, diagnostic centers, and other healthcare facilities.

The cholesterol test market research report is one of a series of new reports from The Business Research Company that provides cholesterol test market statistics, including cholesterol test industry global market size, regional shares, competitors with a cholesterol test market share, detailed cholesterol test market segments, market trends and opportunities, and any further data you may need to thrive in the cholesterol test industry. This cholesterol test market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed in the historical period can be attributed to increased awareness of cardiovascular diseases, ongoing research on heart health, the effectiveness of public health campaigns, recommendations from physicians, and efforts in 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 anticipated growth in the forecast period can be attributed to the integration of cholesterol testing in corporate wellness programs, the influence of precision nutrition, a rise in health-conscious consumerism, the integration of genetic testing, and a shift towards personalized medicine. Key trends in the forecast period include the development of cholesterol-targeted therapies, increased integration with health apps, the emergence of cholesterol education platforms, the expansion of comprehensive lipid panels, and the growth of point-of-care testing.

The escalation in the prevalence of cardiovascular diseases is anticipated to significantly drive the expansion of the cholesterol test market. Cardiovascular diseases encompass a spectrum of heart and blood vessel conditions, including coronary heart disease, stroke, peripheral arterial disease, and aortic disease. The use of cholesterol tests plays a pivotal role by providing crucial insights into an individual's risk of developing heart disease. For instance, as reported in April 2023 by the World Heart Federation, the global prevalence of cardiovascular diseases is expected to affect over 500 million individuals worldwide. This health burden resulted in approximately 20.5 million fatalities in 2021, constituting nearly one-third of total global mortality. This marked increase from previous estimates underscores the urgency in addressing cardiovascular diseases, thereby propelling the demand for cholesterol tests.

The burgeoning aging population is poised to be a significant catalyst for the growth of the cholesterol test market in the foreseeable future. An aging population denotes a demographic shift characterized by a rising proportion of elderly individuals within a society. As part of proactive healthcare strategies, the aging population extensively utilizes cholesterol tests to effectively manage cardiovascular health and mitigate the risks associated with age-related ailments. This trend aligns with a preventative healthcare approach aimed at promoting overall well-being. As highlighted by the World Health Organization (WHO) in October 2022, the global population aged 60 years and older is experiencing rapid growth, projected to double by 2050, reaching a staggering 2.1 billion individuals. Consequently, the expanding aging demographic emerges as a significant driver in fueling the growth trajectory of the cholesterol test market.

Technological advancements are significantly shaping the landscape of the cholesterol test market, with prominent companies and research institutions actively driving innovation for more cost-effective, efficient, and advanced testing solutions. For instance, in November 2022, Ural Federal University (UrFU), a Russian-based institution, unveiled a cutting-edge microfluidic chip. This sensor device, fabricated via 3D printing, integrates all system elements required for measuring blood cholesterol levels. The novel sensor technology employed in this chip remarkably reduces the necessary blood volume for cholesterol level identification. The analysis involves placing blood in an analyzing chip containing an acetonitrile-based copper chloride solution. Equipped with an electrode connected to a voltametric analyzer, this innovation utilizes magnetic nanoparticles integrated with polymers featuring molecular imprints. These imprints selectively absorb cholesterol, effectively filtering out other essential blood elements, thereby expediting analysis results.

Major entities within the cholesterol test market are actively pioneering innovative solutions, including MOT diagnostic tests, to advance cholesterol testing methodologies. For instance, Goodbody Health Ltd., a UK-based healthcare company, introduced its Health 'MOT' diagnostic test in May 2022. This comprehensive diagnostic evaluation offers an inclusive summary of an individual's health status and includes pioneering in-clinic tests for diabetes and cholesterol. Providing rapid results within minutes, these tests assess an individual's risk of developing cardiac health issues or diabetes over the subsequent decade. This innovative approach significantly enhances the efficiency and scope of cholesterol testing, contributing to more holistic health assessments.

In January 2023, South Korea-based diagnostics reagents company SD Biosensor, Inc., and Korean private equity investment firm SJL Partners successfully acquired Meridian Bioscience, Inc. for $1.53 billion. This strategic acquisition is geared towards enhancing Meridian Bioscience, Inc's ability to meet the growing demand for diagnostic testing services and to innovate new solutions. By leveraging SD Biosensor's industry experience and complementary capabilities, Meridian Bioscience, Inc aims to strengthen its position in the market. As a U.S.-based life science company, Meridian Bioscience, Inc specializes in manufacturing, marketing, and selling novel diagnostic devices, particularly in the areas of cholesterol and cardiac testing.

Major companies operating in the cholesterol test market report are 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.

North America was the largest region in the cholesterol test market in 2023. The regions covered in the cholesterol test market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cholesterol test market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cholesterol test market includes revenues earned by entities by providing various services such as clinical laboratory testing, online lab tests, medical advice, and diagnosis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The cholesterol test market also consists of sales of handheld point-of-care testing (POCT) devices, automated analyzers, lancets, and capillaries. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Cholesterol Test Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cholesterol test market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for cholesterol test ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cholesterol test market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Test Kits; Test Strips; Other Product Types
• 2) By Test Type: Total Cholesterol Test; High-Density Lipoprotein (HDL) Cholesterol; Low-Density Lipoprotein (LDL) Cholesterol; Triglycerides or Very Low-Density Lipoprotein (VLDL) Cholesterol Test
• 3) By Distribution Channel: Over the Counter; Prescription Based
• 4) By End User: Hospitals; Diagnostic Centers; Other End-Users
• Companies Mentioned: CVS Health Corporation; F. Hoffmann-La Roche AG; Thermo Fisher Scientific Inc.; Abbott Laboratories; Siemens Healthineers GmbH
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.