Research Nester published a report titled “Metabolic Panel Testing Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global metabolic panel testing market in terms of market segmentation by disease, test type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global metabolic panel testing market is estimated to occupy a sizeable revenue by growing at a CAGR of ~7% during the forecast period, i.e., 2022 – 2031, ascribing to the growing awareness among people regarding early diagnosis and treatment of diseases, and rising occurrence of chronic diseases across the globe.
Along with these, escalating number of incidences lifestyle-associated diseases, including obesity, coupled with adoption of unhealthy habits such as smoking, excessive drinking and lack of physical activities are also expected to drive the growth of the market in the forthcoming years.
The market is segmented by disease, test type and end user. Based on disease, the kidney diseases segment is anticipated to occupy the largest share during the forecast period in view of the rising prevalence of kidney diseases, and rapidly shifting lifestyle of people around the world.
Additionally, by end user, the laboratories segment is projected to acquire the largest share over the forecast period attributing to the growing preference of patients to get test results from laboratories, and their affiliation with hospitals, blood banks and specialty diagnostic centers.
Geographically, the global metabolic panel testing market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to gather the largest share in the market during the forecast period attributing to the high health expenditure, and favorable policies for reimbursement provided by the government in the region.
Moreover, the market in Asia Pacific is assessed to observe noteworthy growth over the forecast period on the back of the developments in healthcare infrastructure in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Awareness Among People About Early Diagnosis and Treatment of Diseases to Drive Market Growth
Over the last two decades, the total number of incidences of chronic diseases has witnessed a notable upsurge as a result of adoption of unhealthy habits and sedentary lifestyles. This has raised the awareness for early diagnosis and treatment of these diseases among people all over the world, which in turn is anticipated to drive significant growth to the market in the near future.
However, expensiveness of metabolic panel testing is expected to operate as key restraint to the growth of the global metabolic panel testing market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global metabolic panel testing market which includes company profiling of SYNLAB International GmbH, Abbott Laboratories, Quest Diagnostics, Inc., Laboratory Corporation of America Holdings, Sonic Healthcare Limited, Associated Regional and University Pathologists, Inc., Nova Biomedical, WerfenLife, S.A., Scion Lab Services, LLC, and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global metabolic panel testing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.