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Industry Insights, Market Size, CAGR, High-Level Analysis: Comprehensive Metabolic Panel Testing Market The global Comprehensive Metabolic Panel (CMP) Testing market size was estimated at USD 10.8 billion in 2018 and is expected to register a CAGR of 7.3% during the forecast period. Factors such as rising prevalence of chronic diseases and emphasis on early diagnosis and treatment are expected to drive the demand for CMP testing. High prevalence of lifestyle-associated diseases, such as obesity coupled with prevalence of smoking, unhealthy eating habits, and lack of physical activity are among the factors responsible for increasing incidence of chronic diseases. Diabetes is one of the fastest growing diseases in the world, widening the patient pool for point-of-Care (PoC) CMP testing.Increasing prevalence of diabetes and cardiovascular, and other target diseases, is anticipated to boost the demand for CMP testing over the forecast period. Cardiovascular diseases are fatal and are considered the leading cause of deaths worldwide. The healthcare industry is largely dependent on regulatory frameworks established by organizations such as the U.S. Food and Drugs Administration (FDA) and the European Medicines Agency (EMA). Regulatory bodies like Clinical Laboratory Improvement Amendments (CLIA) regulate the approval of these tests and the fee waiver as well as the reimbursement for Medicare and Medicaid is set by government bodies. The FDA has control over the Laboratory-Developed Tests (LDTs) that refer to in-house clinical laboratories developing tests, delivering efficient and rapid results. Reimbursement and regulatory bodies in Europe impose stringent laws. Most European manufacturers set the pricing based on the Return of Investment (RoI) and follow value-based pricing. There is an oversupply of testing products that are redundant and large number of products with similar indications. However, this led to lower pricing and faster processing time as well as wider availability of the products. Introduction of innovative solutions for enhancing efficiency and minimizing errors is expected to boost the CMP testing market growth over the forecast period. Integrated workflow management systems and database management tools are gaining importance with companies processing several thousand samples per year. Development and execution of various bioinformatics and data management solutions, coupled with emergence of automated systems in laboratories, indicate a prosperous future for the market. Disease Insights Kidney diseases held the leading market share in 2018, driven by a high disease prevalence and maximum utilization of analytes. Renal anomalies could arise from other comorbidities, such as diabetes and high blood pressure. Nearly 50% of patients had a history of cardiovascular disease or diabetes. Lack of early symptoms poses a challenge to the early diagnosis of the disease. Diabetes is one of the fastest growing chronic diseases, globally. According to the International Diabetes Federation, nearly 425 million adults were affected by diabetes in 2017-with an estimated 629 million by 2045. Nearly 50% diabetics remain undiagnosed, presenting a lucrative opportunity for growth for the comprehensive metabolic panel testing market. End Use Insights Laboratories held the leading market share in 2018, driven by easy availability, high market penetration, increased usage, and clinically significant results. Some laboratories may be in/and affiliated with hospitals, blood banks, and specialized diagnostic centers. Furthermore, the extensive presence of ancillary support - in terms of manpower and infrastructure - is a key propeller for market growth. The emergence of PoC diagnostics has caused a revolutionary shift in the market for CMP testing. PoC CMP tests are projected to witness rapid growth in near future, driven by their ease of operation, portability, speed of results, and lesser requirement of sample. However, even as the nascent PoC technology evolves further to meet the consumer demand for improved and streamlined diagnosis, laboratory testing of CMP is anticipated to retain the leading position in this market. Regional Insights of Comprehensive Metabolic Panel Testing Market North America led the market in 2018, owing to strong commercial performances of CMP diagnostics in U.S. High disease burden, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure are some of the major contributors of market growth. Furthermore, the presence of key players is projected to bode well for the demand for CMP testing. Asia Pacific is expected to expand at the highest CAGR during the forecast period, driven by improvement in healthcare infrastructure, growth in consumer awareness, rise in disposable income, and overall economic development. The market in emerging countries such as China, India, and South Korea is expected to witness rapid growth in demand for CMP testing during the forecast period. Market Share Insights of Comprehensive Metabolic Panel Testing Market Some key market players include Abbott, Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, UNIPATH, and SYNLAB International GmbH. Major players are increasingly focusing on strategic initiatives, such as product launches and development, mergers and acquisitions, licensing partnerships, and co-development deals, making this market highly competitive. For instance, in November 2018, Quest Diagnostics announced agreement to acquire assets of clinical laboratory services business of Bynum and Boyce Pathology Laboratories. Bynum and Boyce Pathology Laboratories is a leading provider of clinical laboratory and diagnostic services in the Midwest region. Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Comprehensive Metabolic Panel Testing Market Research Report This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, this market research report has segmented the global Comprehensive Metabolic Panel Testing market report on the basis of disease, end use, and region: Disease Outlook (Revenue, USD Million, 2014 - 2026) Kidney Disease Liver Disease Diabetes Others End Use Outlook (Revenue, USD Million, 2014 - 2026) Laboratories PoC
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation and Scope 1.1.1 Segment scope 1.1.2 Regional scope 1.1.3 Estimates and forecast timeline 1.2 Research Methodology 1.3 Information Procurement 1.3.1 Purchased database: 1.3.2 GVR’s internal database 1.3.3 Secondary sources 1.3.4 Primary research 1.3.5 Details of primary research 184.108.40.206 Data fo | read more...