The thyroid function test market is set to reach US$ 2,203.7 Mn by 2027 from US$ 1,317.8 Mn in 2018 projecting impressive growth at a compounded annual growth rate (CAGR) of 5.9% during the forecast period from 2018 to 2026. The major risk factors associated with thyroid disorders are intake of iodine replete diet, hormonal imbalance, sedentary lifestyle and increasing consumption of alcohol and tobacco. Increasing public health awareness and technological advancement in diagnostic kits together drive the thyroid function tests market growth.
The global hematology diagnostics market is Increasing blood donation procedures, rising incidences of blood disorders along with enhanced diagnostics and hematology testing technologies drives the overall hematology diagnostics market growth. New technological evolution in automated hemotology analyzers would also drive the overall market.
The global audiological devices market accounted for US$ 11,574.1 Mn in 2021 and is anticipated to grow to US$ 18,649.0 Mn growing at a CAGR of 5.5% throughout the forecast period from 2025 to 2033. In 2021, in terms of volume market register sales of 18.50 Mn units and is anticipated to reach 30.38 Mn Units expanding at a CAGR of 5.7%.
The microplates market is set to reach US$ 1488 million by 2033 from US$ 993.51 million in 2025 at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2025 to 2033. Microplate technologies has been increasingly applied across variety of applications within the field of biotechnology research over the past couple of decades.
The primary factors driving the growth of the global fertility and pregnancy test kits market are the growing demand for self-contained solutions that the consumers can directly use, growing risk of infertility, and easy availability of time saving and cost-effective pregnancy detection solutions. In addition, increasing use of rapid testing kits in fertility clinics and home care, growing rate of adolescent pregnancies and high promotions of such solutions are some of the other factors supporting the market growth.
The global in-vitro diagnostics quality control market was valued at US$ 987.2 Mn in 2020 and expected to grow at compound annual growth rate (CAGR) of 3.9% during the forecast period from 2021 to 2029. In-vitro diagnostics quality control are tests to validate the efficacy and reliability of the in-vitro diagnostic systems and ensure its accuracy and evaluate the impact of environmental conditions and other things that can affect the test results. Erroneous in-vitro diagnostic testing systems have significant side-effects on the patients.
Cardiac markers are the substances that are released into the blood stream during heart damage. These markers are detected with specialized immunoassays and are used for diagnosis, evaluation and monitoring of patients with suspected acute coronary syndrome. These markers are very useful when patients do not present ischemic chest pain and have non-diagnostic ECG. The common cardiac markers used for evaluation of acute coronary syndrome are troponin I & T, CK-MB and myoglobins. Other biomarkers studied in this report are less specific in nature, but are also used for further evaluation, in terms of damage to the system.
The diagnostic testing for STD’s market is set to reach US$ 53,630.9 Mn by 2029 from US$ 24,981.3 Mn in 2020 performing steadily at a compounded annual growth rate (CAGR) of 8.9% during the forecast period from 2021 to 2029. As per the latest research citing of World Health Organization (WHO) more than I million people get infected with sexually transmitted disease throughout the world every day.
The global electrophoresis equipment and supplies market accounted for a value of US$ 1,957.4 Mn in 2020 and expected to attain US$ 2,891.5 Mn by 2029. Factors characterizing the market growth are worldwide rising prevalence of cancer, genetic disorders, and infectious diseases, increasing research activities coupled with funding in the proteomics and genomics fields, surging number of industry-academic research institutes collaborations, and growing focus on next-generation sequencing (NGS) research activities. Furthermore, changing regulatory requirements in the healthcare sector and mounting need to curb healthcare expenditure across the world are likely to nurture the market growth.
The global HbA1c testing devices market is growing at a significant rate, expected to grow at a CAGR of 10.1%. Worldwide, the increasing incidences of diabetes and other lifestyle diseases will drive the market growth globally. As per the data by International Diabetes Federation, in 2021, more than 430 Mn people were reported to have diabetes, i.e. 9.3% of the world’s population. The rate is going to increase by 10.3% by 2033 and 10.9% by 2045, i.e. around 700 Mn.
The global market for diagnostic testing is expected to surpass US $350 billion by 2030, expanding at a CAGR of 9% from 2023 to 2030.
Diagnostic tests are medical examinations performed to aid in the recognition or diagnosis of any disease. These tests are crucial for the management, surveillance, and prevention of any disease. These tests increase patient care, customer security, and healthcare expenditures. According to the study Non-communicable Illnesses Important Statistics from the World Health Organization (WHO), chronic diseases will be responsible for approximately 41 million deaths annually by April 2021, or 71 percent of all deaths worldwide. Hence, diagnostic tests have proved beneficial in the prevention, identification, and diagnosis of disease, as well as in the management of chronic sickness situations. By detecting individual risk factors and early warning signs, clinical diagnostics create new opportunities for early prevention and intervention. Thus, it is projected that the industry as a whole would continue to expand as the prevalence of chronic diseases rises.
The industry is expected to be driven by the increasing popularity of decentralized healthcare systems. In addition, it is predicted that the market would expand during the forecast period as a result of leading market players' adoption of new innovations and technical advancements in the sector. As a result of these reasons, the market for point-of-care diagnostics is predicted to expand in the future years. The aging of the world's population increases the likelihood of contracting a variety of diseases, including diabetes, cancer, cardiovascular disease, obesity, and neurological disorders. The United Nations projects that by 2020, 727 million people worldwide would be 65 or older. In addition, it is estimated that by 2050, there will be more than 1.5 billion individuals aged 80 and older, which is twice as many as there are today. The predicted growth in the global elderly population during the forecast period is likely to have a substantial impact on the market.
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