CHOLESTEROL TESTING SERVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Cholesterol Testing Services Market Drivers:

• Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular disease, such as coronary artery diseases, High blood pressure, heart attack, arrhythmia, and congenital heart disease, are the major factors driving the market growth over the forecasted period. For instance, according to American Heart Association ‘2022 Heart Disease & Stroke Statistical Update Fact Sheet Global Burden of Disease’ published in December 2022, globally, it was estimated that in 2020, 244.1 million people were living with ischemic heart disease (IHD), and it was more prevalent in males than in females. The global prevalence of getting recurrent stroke in 2020 was 89.1 million people, whereas that of ischemic stroke was 68.2 million. In 2020, high low-density lipoprotein cholesterol accounted for 4.5 million deaths.
• Growing geriatric population: The growing geriatric population across the world is leading to the increased demand for cholesterol testing services. As people grow older, their risk of developing cardiovascular diseases and conditions like heart attacks increases. These factors are driving the market growth over the forecasted period. For instance, according to the World Health Organization (WHO) publication in ‘Ageing and Health’ by 2030, around one in six people in the world will be aged 60 years or above. Meanwhile the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By the year 2050, the world’s population of people aged 60 years and older will double (2.10 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.

Global Cholesterol Testing Services Market Opportunities:

• Increased adoption of point-of-care testing devices: The increased adoption of point-of-care (POC) testing devices presents a great opportunity for cholesterol testing services to expand. POC tests allow for on-the-spot cholesterol screening without needing to visit a hospital or diagnostic lab. Point-of-care testing is beneficial not just for patients, but also healthcare providers. It offers vital health information quickly and helps clinicians devise appropriate treatment plans without delay. This can improve clinical outcomes. For example, according to the 2021 Global Health Observatory data by the World Health Organization, people with undiagnosed and untreated high total cholesterol have over a 50% increased risk of heart attacks and strokes compared to the general population. With immediate point-of-care cholesterol results, physicians can identify at-risk patients and initiate needed lifestyle or medication therapy in a timely manner. This can significantly reduce complications arising from uncontrolled high cholesterol levels.
• Growing popularity of home testing kits: The growing popularity of home testing kits present a valuable opportunity for cholesterol testing services to expand their market reach. With people becoming increasingly health conscious and preferring the comfort of their own homes for medical tests, more individuals are now opting for home cholesterol testing kits. This trend was further strengthened during the COVID-19 pandemic as people tried to minimize trips to hospitals and clinics. For instance, a 2022 report from the American Heart Association estimates that by 2035, over 130 million American adults will have high LDL or bad cholesterol putting them at an increased risk of heart diseases and strokes.

Global Cholesterol Testing Services Market Restraints:

• High cost of advanced testing services: The high cost of advanced cholesterol testing services is limiting widespread adoption and acting as a hurdle in the further growth of the global cholesterol testing services market. Conventional cholesterol tests that measure total cholesterol, HDL, and LDL levels are becoming insufficient on their own to determine the risk of heart diseases. More advanced tests that measure additional lipid profiles and ratios are useful to get a comprehensive picture. However, these specialized tests, such as advanced lipid panel, apolipoprotein B, lipoprotein (a), etc., are quite expensive for general public use. For instance, as per data from Centers for Disease Control and Prevention (CDC), the average cost of a basic lipid panel test in the U.S. ranges from U.S. $50 to U.S. $100 while an advanced lipid panel can cost over U.S. $200.