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Endocrine Testing Market to Reach US$12.8 Bn by 2023, Driven by High Incidence of Diabetes and Obesity: Transparency Market Research

Albany, NY, March 09, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Endocrine Testing Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023” the global endocrine testing market was valued at US$6.1 bn in 2014 and is estimated to reach US$12.8 bn by 2023 at a CAGR of 8.5% from 2015 to 2023.

Endocrine system is made of endocrine glands that secrete hormones directly into the blood stream. Tests are performed to monitor levels of endocrine hormones (such as Follicle stimulating hormone (FSH), Luteinizing Hormone (LH), estradiol, insulin and others) from biological samples These tests aid in detection of deviation in the hormone production i.e. either hypersecretion (excess secretion) or hyposecretion (less secretion) that results in certain endocrine disorders such as infertility, menopause, thyroid dysfunction and others. The global endocrine testing market is surging due to the rise in geriatric population that is highly susceptible to endocrine system disorders followed by continuous technological advances along with increasing healthcare awareness.

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The endocrine testing market has been categorized on the basis of test, diagnostic technology and end-user. Tests type includes major hormone tests, namely, estradiol (E2), Follicle Stimulating Hormone (FSH), Human Chorionic Gonadotropin (hCG), Luteinizing hormone (LH), Dehydroepiandrosterone sulfate (DHEAS), progesterone, testosterone, Thyroid Stimulating Hormone (TSH), prolactin, cortisol and insulin tests. The market accounts for a wide range of conventional as well as rapid diagnostic kits used for detecting either deficiency or excess secretions of these hormones. The thyroid stimulating hormone (TSH) held the major share in the global endocrine testing market, while insulin testing segment is anticipated to be the fastest growing segment during the forecast period.

The diagnostic technologies segment further describes the technological platforms used in the analysis of the specimen test samples (blood, urine, etc.) and is further categorized into five major technologies as, tandem mass spectrometry, immunoassay, monoclonal and polyclonal antibody, sensor, and clinical chemistry technologies and others. The others segment consists of the technologies such as liquid chromatography, LC-MS/MS technology, and HPLC. The immunoassay technologies dominated the global endocrine testing market by diagnostic technology in 2014, while tandem mass spectrometry is expected to be the fastest growing segment during the forecast period from 2015 to 2023. This was attributed to rigorous use of immunoassays specially Radioimmunoassays (RIA), and Enzyme Linked Assays (EIA) for determination of the levels of the hormone from the biological samples.

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The end user segmentation elucidates the endocrine testing market by various end users that include hospitals, commercial laboratories, ambulatory health care centers, home based tests and physician’s offices. Commercial laboratories accounted for the largest market of the global endocrine testing market owing to the usage of specialized diagnostics instruments, presence of dedicated and skilled laboratory personnel, and swift diagnostics services resulting in the growth of the commercial laboratories segment. Advent of telehealth services is expected to further propel the commercial laboratories segment in the near future. However, home based tests is expected to record highest growth in terms of CAGR due to instant result and easy operation of the test kits during the forecast period of 2015 to 2023.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research