Endocrine Testing Market To Record Impressive Growth, Revenue To Surge To US$10.50 Bn By 2021 – ZMR Blog
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Endocrine Testing Market To Record Impressive Growth, Revenue To Surge To US$10.50 Bn By 2021

With the presence of a large pool of participants, the global endocrine testing market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Quest Diagnostics, Bio Rad Laboratories, F. Hoffmann-La Roche AG, Abbott Laboratories, Agilent Technologies, and bioMerieux SA are some of the key vendors of endocrine testing across the world. These players across endocrine testing market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the endocrine testing market study.

Citing an instance, in May 2018, Interpace Diagnostics Group Incorporation, a fully integrated commercial & bioinformatics firm providing molecular diagnostics tests, declared that will launch a new thyroid test referred as ThyGeNEXT®, the next-generation of ThyGenX®, at American Association of Clinical Endocrinologists Annual Meeting in Boston.

As estimated in this report, the global endocrine testing market stood at US$ 7 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this endocrine testing market is expected to reach US$ 10.50 billion by the end of the forecast period. The main test types available in this endocrine testing market are dehydroepiandrosterone sulfate, estradiol, luteinizing hormone, thyroid stimulating hormone, and human chorionic gonadotropin. Among them, the demand for thyroid stimulating hormone is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.

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Ascending Healthcare Awareness & Government Support To Spur Market Growth

“Mounting health awareness, early endocrine disorder diagnosis, and favorable government policies is predicted to inflate the growth of endocrine testing market over the ensuing years,” says the author of this study. Apart from this, exponential increase in diabetes patients and elderly & obese population is forecast to augment the endocrine testing market size over the forthcoming years.

Soaring technology costs, however, is projected to inhibit the progression of endocrine testing market over the next few years. Nevertheless, massive funding of R&D activities and technological innovations are expected to open new growth opportunities for the business, thereby normalizing the impact of hindrances on the endocrine testing market, reports the endocrine testing market study.

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Huge Presence Of Healthcare Hospitals To Support North America’s Dominance

Regionally, North America has been leading the worldwide endocrine testing market and is anticipated to continue on the dominant position in the years to come, states the endocrine testing market study. The well-established presence of primary, secondary, and tertiary healthcare care hospitals is the main factor behind the dominance of the North America endocrine testing market. In addition, favorable compensation policies, massive government investments, and awareness about health among the population of North America will further supplement the growth of the regional market in the next few years span. Application of innovative methods for endocrine testing purpose in North America will further dilate the market demand.

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