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Comprehensive Metabolic Panel Testing Market Size
Comprehensive Metabolic Panel Testing Market size was valued at USD 12.8 billion in 2022 and is estimated to account for USD 29.5 billion by 2032. Comprehensive metabolic panel (CMP) testing is a blood test that provides essential information about the body's chemical balance and metabolism.
The industry is being driven by the growing elderly population base as they are more susceptible to diabetes and cardiovascular ailments. For instance, the WHO estimates that by 2030, there will be 1.4 billion people worldwide that are over 60 years. Thus, surge in geriatric population base coupled with rising chronic diseases is estimated to augment market progress.
Additionally, one of the diseases with the largest global growth rates is diabetes, which increases the patient population for point-of-care (PoC) comprehensive metabolic panel testing. Over the projection period, it is predicted that the prevalence of cardiovascular, diabetes, and other target illnesses would increase, driving up demand for comprehensive metabolic panel testing. Nearly 17.9 million people die each year as a result of cardiovascular illnesses (CVDs).
What is the size of Comprehensive Metabolic Panel Testing Market?
The global comprehensive metabolic panel testing industry was valued at USD 12.8 billion in 2022 and is estimated to account for USD 29.5 billion by 2032.
Why is glucose testing segment gaining traction in comprehensive metabolic panel testing industry?
The glucose segment garnered USD 3.1 billion in 2022 and will continue to grow as it provides essential information about an individual's blood sugar levels and is an indicator of various metabolic disorders, including metabolic syndrome.
How big is the U.S. comprehensive metabolic panel testing industry?
U.S. comprehensive metabolic panel testing market accounted for USD 4.9 billion in 2022 and is predicted to grow through 2032, primarily attributed to the annual increase in the demand for diagnostic tests, advanced healthcare infrastructure, and leadership in innovative medical practices.
Which companies define the competitive landscape of comprehensive metabolic panel testing sector?
Abbott Laboratories, Quest Diagnostics, Laboratory Corporation of America Holdings Limited, Sonic Healthcare, Unipath, SYNLAB International GmbH, ARUP Laboratories, Genoptix Inc., and Nova Medical among others.