Market Revenue Endocrine Testing Industry Capacity, Production | Page 2

Moreover, insulin test is estimated to grow at fastest pace in the coming years, as growing diabetic population.
Highly used enhanced technology includes clinical chemistry, tandem mass spectrometry, sensor technology,
immunoassay, monoclonal & polyclonal antibody technologies, and others that could be explored in the future
period. During foremost period, the tandem mass spectrometry is estimated to lead the overall market. This
may be because of rising use in combination with liquid chromatography. However, sensor technology segment
is estimated to grow at fastest pace in the years to come, as rising use of biosensors in glucose monitoring for
diabetes.
The market may be categorized based on end users like ambulatory care centers, hospital, commercial
laboratory, and others could be explored in the foremost period. The hospital sector accounted for the largest
market share and is estimated to continue its dominance in the forecast period. However, the commercial
laboratory sector is estimated to grow at fastest pace in the coming years, as presence of skilled workers and
accessibility of enhanced infrastructure.
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Globally, North America accounted for the largest market share of endocrine testing and is estimated to
continue its dominance in the upcoming years. The reason behind the overall market growth could be presence
of advanced tertiary, secondary, and primary care hospitals, government initiative, enhanced compensation
network, satisfactory government funding policy, and rising health awareness. Instead, Europe and the Asia
Pacific are also estimated to have a positive influence on the future growth.
Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at
fastest pace with the highest CAGR of 9.1% in the foremost period. The aspects that may be ascribed to the
growth comprise rising R&D expenditure by private agencies and government to improve therapeutic and
diagnostic areas in the region. The developing countries like India and China are the major consumers of
endocrine testing industry in this region, as developing healthcare infrastructure and government compensation
policies.
The key players of endocrine testing market are Quest Diagnostics, Abbott Laboratories, LabCorp., AB Sciex,
Hoffmann-La Roche Ltd., Agilent Technologies, DiaSorin, Biomedical Technologies, Bio-Rad Laboratories, and
bioMerieux SA. These players are concentrating on inorganic growth to sustain themselves amongst fierce
competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
Market Segment: