Growing elderly population and rising prevalence of chronic diseases along with focus on early detection of diseases and increasing investments in research and development activities are fueling market growth
New York, January 21,2021- The global Comprehensive Metabolic Panel (CMP) Testing market size is expected to reach USD 22.97 billion by 2028 and register a CAGR of 7.8% according to the latest report by Reports and Data. Rising prevalence of chronic diseases, such as kidney diseases, diabetes, liver dysfunctions, and growing research on developing innovative products are key factors driving global market revenue growth.
Comprehensive metabolic panel testing is a blood test that measures 14 different types of substances for analyzing body mechanisms and various parameters, such as kidney and liver health, blood protein and sugar levels, body fluid balance, and electrolyte levels. Increasing cases of chronic conditions and rising prevalence of lifestyle-associated diseases such as obesity or hypertension due to smoking, lack of exercise, and sedentary lifestyle are primarily boosting demand for comprehensive metabolic panel testing systems. In addition, growing adoption of point-of-care CMP testing and rising number of biopsy processes are expected to further enhance revenue growth. Moreover, increasing initiatives taken by government to create awareness about diseases and treatment for chronic diseases are fueling market growth.
However, factors, such as implementation of strict regulations and high possibility of fast results due to dearth of skilled professionals, are expected to hamper growth of the global comprehensive metabolic panel testing market during the forecast period.
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Some key highlights in the report:
- Among the disease segments, the kidney segment is projected to account for largest market growth during the forecast period. Rising prevalence of kidney diseases, high blood pressure, diabetes, and increasing need for detecting these diseases at an early stage are key factors boosting market growth.
- In context to end user, the point of care segment is expected to register fastest revenue CAGR throughout the forecast period owing to factors such as rapid diagnosis, ease of operation, and less requirement of samples.
- North America is expected to account for largest market share in the global comprehensive metabolic panel testing market during the forecast period. High revenue share is attributable to increasing adoption of CMP testing, rising prevalence of various infectious and chronic diseases, well-established healthcare systems and infrastructure, and presence of significant key players.
- Asia Pacific is expected to account for fastest revenue growth between 2021 and 2028 due to rising prevalence of kidney disorders and diabetes, rising disposable income, and increasing geriatric population.
- Europe is expected to account for high revenue growth over the forecast period due to increasing geriatric population, high prevalence of kidney diseases, and access to latest healthcare facilities.
- Abbott Laboratories, Quest Diagnostics Incorporated, Sonic Healthcare, Laboratory Corporation of America Holdings, ARUP Laboratories, CENTOGENE AG, SYNLAB International GmbH, TCG Corp, Scion Lab Services, LLC, UNIPATH are some key companies operating in the global comprehensive metabolic panel testing market.
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For this study, Reports and Data has segmented the global comprehensive metabolic panel testing market based on Disease, Test Type, End User, And Region:
Disease Outlook (Revenue, USD Billion, 2018 – 2028)
- Kidney Disease
- Liver Disease
Test Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Kidney Tests
- Liver Functional Tests
End User Outlook (Revenue, USD Billion, 2018 – 2028)
- PoC (Point of Care)
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Regional Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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