A lipid panel is a standard blood test healthcare providers use to monitor and screen the risk of cardiovascular disease and other chronic diseases. The panel includes three measurements of cholesterol and a measurement of triglycerides. While providers & healthcare professionals mostly use lipid panels for screening or monitoring cholesterol levels. Providers sometimes use them as part of the diagnostic process for specific health conditions affecting your lipid levels, including pancreatitis, chronic kidney disease, and hypothyroidism.
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Thus, in conclusion, the rise in the number of chronic diseases such as cardiovascular diseases, chronic kidney disorders, liver diseases, and various other chronic diseases has led to an increase in the demand for lipid profiling with increasing market demand for lipid panel testing kits will drive the growth of the global lipid panel testing market in coming years.
Data Bridge Market Research analyses that the Global Lipid Panel Testing Market is expected to grow at a CAGR of 7.2% from 2023 to 2030 and reach USD 15,958.03 million by 2030. The rise in the prevalence of dyslipidemia is expected to propel the market’s growth.
Key Findings of the Study
GROWING NUMBER OF CASES OF DYSLIPIDEMIA
Dyslipidemia is an imbalance of lipids such as cholesterol, low-density lipoprotein cholesterol (LDL-C), triglycerides, and HDL. This condition can be caused by diet and exposure to tobacco, which can lead to cardiovascular disease with serious complications.
Dyslipidemia is a group of diseases of lipoprotein metabolism involving either overproduction or deficiency of lipoproteins, or both. It is an important risk factor for atherosclerotic disease, especially coronary artery disease. Components of dyslipidemia may include high LDL cholesterol, elevated triglycerides or both, and low HDL cholesterol (protective). Lipid levels are disturbed in pathological conditions. It is a significant cause of cardiovascular disease and mortality in developed countries.
Unani scholars called it a significant public health problem, causing severe complications such as angina, heart palpitations, obesity, diabetes, cancer, and sudden death.
the growing number of cases of dyslipidemia has led to increased demand for lipid panel testing kits, driving the growth of the global lipid panel testing market as dyslipidemia is diagnosed by measuring serum lipids and routine measurements of dyslipidemia including total cholesterol (TC), TGs, HDL cholesterol, and LDL cholesterol. Hence, the increasing cases of dyslipidemia are leading to the increasing demand for lipid panel testing, driving the growth of the global lipid panel testing market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in Million, Volumes in Units, Pricing in USD
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Segments Covered
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Products & Services (Devices, Kits, and Services), Prescription Mode (Prescription-Based Testing and OTC-Based Testing), Application (Hyperlipidemia, Hypertriglyceridemia, Familial Hypercholesterolemia, Hypo lipoproteinemia, Tangier Disease, Atherosclerosis. and Others), End User (Hospitals, Specialty Clinics & Physician Offices, Pathology Laboratories, Diagnostic Clinics, Ambulatory Surgical Centers, Reference Laboratories, Academic and Research Institutes, and Others), Distribution Channel (Direct Tender, Retail Pharmacy, Online Sales, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Nova Biomedical (U.S.), Quest Diagnostics Incorporated. (U.S.) Spark Diagnostics Pvt. Ltd. (U.S.), Everlywell, Inc. (U.S.), HORIBA Medical (Japan), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), SD Biosensor (Republic of Korea), INC., Elitech Group (France), Randox Laboratories Ltd. (U.K.), Diatron (Hungary), Siemens Healthcare GmbH (Germany), Sinocare (China), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Inc., myLAB Box (U.S.), Awareness Technology, Inc. (U.S.), Croda International Plc. (U.S.), Eurofins Scientific (Luxembourg), Boston Heart Diagnostics Corporation (U.S.), cpc diagnostics (India), PTS Diagnostics (U.S.), ARUP Laboratories (U.S.), Laboratory Corporation of America Holdings (U.S.), EKF Diagnostics (Wales), Beckman Coulter, Inc (U.S.). (Subsidiary of Danaher), and Sekisui Diagnostics (A Part of SEKISUI Chemical Co. Ltd.) (U.S.), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The lipid panel testing market is segmented on product & services, prescription mode, application, end user and distribution channel.
- On the basis of products & services, the global lipid panel testing market is segmented into devices, kits, and services.
In 2023, the services segment is anticipated to dominate the lipid panel testing market.
In 2023, the services segment of this market will dominate the lipid panel testing market owing to the increasing utilization advanced clinical laboratory services for disease diagnosis and screening. The services segment is expected reach the highest CAGR of 8.1% in the forecast period of 2023-2030.
- On the basis of prescription mode, the global lipid panel testing market is segmented into prescription-based testing and OTC-based testing. In 2023, the prescription based testing segment is expected to dominate the market due to rise in awareness regarding the importance of physician care.
- On the basis of application, the global lipid panel testing market is segmented into hyperlipidemia, hypertriglyceridemia, atherosclerosis, familial hypercholesterolemia, hypo lipoproteinamia, tangier disease, other. In 2023, the hyperlipidemia segment is expected to dominate the market with 28.92% due to the rise in the incidence of hyperlipidemia.
- On the basis of end user, the global lipid panel testing market is segmented into hospitals, specialty clinics and physician offices, pathology laboratories, diagnostic clinics, ambulatory surgical centers, reference laboratories, academic and research institutes, and others. In 2023, the hospital segment is expected to dominate the market with 25.63% due to the presence of advanced instrumentation, expert surgeons, and facilities for diagnosis through lipid panel testing in the hospital.
- On the basis of distribution channel, the global lipid panel testing market is segmented into direct tender, retail pharmacy, online sales, and others.
In 2023, the hospital segment is projected to hold the largest share of end user segment in the lipid panel testing market.
In 2023, the hospital segment holds maximum market share due to presence of advanced instrumentation, expert surgeons, and facilities for diagnosis through lipid panel testing in the hospital. The hospital segment is growing with a CAGR of 9.2% from 2023 to 2030.
Major Players
Data Bridge Market Research recognizes the following companies as the significant lipid panel testing market players in lipid panel testing market are Nova Biomedical (U.S.), Quest Diagnostics Incorporated. (U.S.) Spark Diagnostics Pvt. Ltd. (U.S.), Everlywell, Inc. (U.S.), HORIBA Medical (Japan), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), SD Biosensor (Republic of Korea), INC., Elitech Group (France), Randox Laboratories Ltd. (U.K.), Diatron (Hungary), Siemens Healthcare GmbH (Germany), Sinocare (China), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Inc., myLAB Box (U.S.), Awareness Technology, Inc. (U.S.), Croda International Plc. (U.S.), Eurofins Scientific (Luxembourg), Boston Heart Diagnostics Corporation (U.S.), cpc diagnostics (India), PTS Diagnostics (U.S.), ARUP Laboratories (U.S.), Laboratory Corporation of America Holdings (U.S.), EKF Diagnostics (Wales), Beckman Coulter, Inc (U.S.). (Subsidiary of Danaher), and Sekisui Diagnostics (A Part of SEKISUI Chemical Co. Ltd.) (U.S.) among others.
Market Developments
- In February 2023, Abbott announced that it will acquire the Cardiovascular Systems, Inc., a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease.
- In February 2023, Randox Laboratories announced that it has collaborated with the Roquefort Therapeutics, an LSE listed Biotech Company dedicated to developing first-in-class medicines in the high-value, high-growth oncology market.
- In February 2023, F.Hoffmann la-Roche Ltd. Announced the launch of IDH1R132H (MRQ-67) Rabbit Monoclonal Primary Antibody and the ATRX Rabbit Polyclonal Antibody to identify the mutation status in patients diagnosed with brain cancer.
- In December 2022, Laboratory Corporation of America Holdings, announced that it had begun the operations at a new, larger anatomic pathology and histology laboratory in Los Angeles.
- In September 2022, Beckman Coulter Inc., announced that it has acquired ValitaCell Ltd. A biotechnology company that creates the analytical products and technologies for the biopharmaceutical industry.
Regional Analysis
Geographically, the countries covered in the lipid panel testing market report are U.S., Canada, Mexico, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in lipid panel testing market during the forecast period 2023 -2030
Inn 2023, North America segment is expected to dominate the global lipid panel testing market with a 32.28% market share. This is due to the high increasing prevalence of chronic diseases such as stroke, ischemia, diabetes, and rising awareness of preventative healthcare is expected to enhance the market growth in the forecast period. Apart from these, technological advancements, and increasing healthcare expenditure are also contributing to the growth of lipid panel testing market.
Asia-Pacific is estimated to be the fastest growing region in lipid panel testing market the forecast period 2023-2030
Asia-Pacific is expected to grow during the forecast period due to increased healthcare facilities with advanced technology and increased e in government funding for research and development to increase test speed and reduce human error.
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