Endocrine testing market is estimated to be valued at US$ 25.34 Billion in 2031; 9.2% CAGR Projected- Coherent Market Insights

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the endocrine testing market.

Coherent Market Insights’ analyst projected the endocrine testing market to be valued at US$ 25.34 Bn in 2031. It is expected to exhibit a CAGR of 9.2% over the forecast period from 2024 to 2031.

Market Dynamics:

Increasing incidence of endocrine disorders drives market growth. According to WHO estimates, more than 200 million people worldwide suffer from endocrine disorders. This is due to factors such as obesity, lack of physical activity, stressful lifestyle, and unhealthy diet.

Technological advancements in endocrine testing devices and assays also fuels market growth. Various companies are developing highly specific diagnostic tools that can accurately detect changes in hormone levels. Such factors are expected to propel the demand for endocrine testing over the forecast period.

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Market Trends:

Two major trends are contributing to the growth of the endocrine testing market. This is due to advanced assays and testing technologies like thyroid function tests, liquid chromatography–mass spectrometry. These advanced techniques provide accurate results and improve diagnosis.

Demand for point-of-care endocrine testing among healthcare providers as well as patients’ fuels market growth. It delivers results quickly and allows for immediate clinical decisions and treatment plans.

Endocrine Testing Market Opportunities

Instruments/Analyzers segment is expected to hold the largest share during the forecast period. Next generation analyzers offer better precision and accuracy of results with minimal error. They also enable high-throughput testing which improves workflow efficiency. Introduction of compact and portable instruments further supports decentralized testing.

Liquid chromatography-mass spectrometry technology accounts for the largest share of the endocrine testing. It is considered the gold standard technology for analysis of steroids, peptides and amines. This is owing to its high selectivity and sensitivity. The wide application scope across research and clinical laboratories will continue to drive the growth of LC-MS segment during the forecast period.

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Key Market Takeaways

The global endocrine testing market is anticipated to witness a CAGR of 9.2% during the forecast period 2024-2031. This is due to increasing incidence of endocrine disorders worldwide.

On the basis of product type, instruments/analyzers segment is expected to hold a dominant position. This is due to continuous technological advancements enabling high-throughput testing with better accuracy.

On the basis of technology, liquid chromatography-mass spectrometry segment is expected to hold a dominant position over the forecast period. This is due to its wide application scope across research and clinical settings.

On the basis of disease indication, adrenal insufficiency and Addison disease segment is expected to hold the largest share. This is due to their high disease burden.

North America is expected to hold a dominant position over the forecast period. This is mainly due to growing diabetic population and rising healthcare expenditure in the region.

Competitor Insights

Key players operating in the endocrine testing market include

Abbott
AB Sciex
Agilent Technologies Inc.
bioMerieux SA
Bio-Rad Laboratories Inc.
DiaSorin S.p.A.
Hoffmann-La Roche Ltd.
Quest Diagnostics Inc
Danaher
Immunodiagnostic Systems
Fujirebio, Inc.

Recent Developments: 

In August 2023, the World Anti-Doping Agency (WADA) introduced additional elements to the Athlete Biological Passport (ABP), including the Endocrine Module. The development considerably improves the identification of hGH usage in sports. The ABP aids anti-doping operations by monitoring an athlete’s biological indicators over time.

In March 2021, F. Hoffmann-La Roche Ltd., agreed to buy GenMark Diagnostics for US$ 24.05 per share in an all-cash deal. This acquisition will allow Roche to expand its molecular diagnostics business by combining GenMark’s syndromic panel testing capabilities.

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.