Endocrine Testing Market Analysis

Endocrine Testing Market Analysis

Based on test type, the endocrine testing market is segmented as human chorionic gonadotropin (hCG) hormone test, luteinizing hormone (LH) test, progesterone test, thyroid stimulating hormone (TSH) test, prolactin test, insulin test, and others. Human chorionic gonadotropin (hCG) hormone test segment is projected to exceed USD 1.6 billion by 2032. This is primarily owing several advantages offered by hCG test. Preference for numerous easy-to-use diagnostic kits and demand for quantitative estimation related to hCG at healthcare facilities. Additionally, the determination of hCG levels to identify the abnormalities during multiple phases of pregnancy coupled with the rising number of fertile female population is also bolstering the business revenue.
 

Based on technology, the endocrine testing market is segmented as mass spectroscopy, immunoassay, chromatography, nucleic acid based, and others. The immunoassay segment is projected to grow at a 7.8% CAGR from 2023-2032. Clinical endocrinology is associated with laboratory medication as the hormone quantification is crucial for diagnosis, therapeutics, and prognosis of endocrine conditions. Novel interferences are emerging in immunoassays with the advancements in therapies.
 

Analytical mechanisms have also been researched to be quicker and effective with advantages of the automation address the demands of an augmented workload and the need for rapid analysis. Also, these advancements have been simultaneously improving and eliminating certain drawbacks associated with the interferences, in the previous systems.
 

Based on end-use, the endocrine testing market is segmented as hospitals, clinical laboratories, diagnostic centers, and others. The clinical laboratories segment was valued at over USD 1.3 billion in 2022. This is owing to the availability of specialized and efficient diagnoses with rising awareness related to endocrine diseases. The expansion of clinical laboratory chains with advancing infrastructure offering a wide spectrum of clinical testing services for several conditions range of diseases is set to proliferate the segment revenue. Additionally, the use of advanced screening mechanisms at clinical laboratories drives patient preference.
 

The U.S. endocrine testing market is anticipated to reach more than USD 2.1 billion by 2032. The increasing prevalence of endocrine disorders such as diabetes, thyroid disorders, and obesity coupled with supportive reimbursing bodies, & availability of multiple diagnostic firms are driving the demand for endocrine testing. Also, the U.S. market is witnessing a shift towards personalized medicine, wherein the patients receive individualized treatment based on their genetic makeup, lifestyle, and other factors.
 

There is also a growing trend towards digitalization in the market, with the availability of online platforms and apps that allow patients to access their test results and communicate with healthcare providers remotely. Moreover, the increased research grants & fundings would prove beneficial for the market demand. For instance, the American Thyroid Association, an association aimed at supporting the research for treatment of thyroid conditions have funded more than USD 2.8 million across 105 grants. Additionally, the presence of major players in the country and novel product offerings further propels the business statistics.