Asia-Pacific Lipid Panel Testing Market, By Products & Services (Devices, Kits, and Services), Prescription Mode (Prescription-Based Testing and OTC-Based Testing), Application (Hyperlipidemia, Hypertriglyceridemia, Familial Hypercholesterolemia, Hypo lipoproteinemia, Tangier Disease, Atherosclerosis. and Others), End User (Hospitals, Specialty Clinics & Physician Offices, Pathology Laboratories, Diagnostic Clinics, Ambulatory Surgical Centers, Reference Laboratories, Academic and Research Institutes, and Others), Distribution Channel (Direct Tender, Retail Pharmacy, Online Sales, and Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Lipid Panel Testing Market Analysis and Insights
The increasing awareness about lipid panel testing Asia-Pacific has enhanced the demand for the market. The rising healthcare expenditure for better health services also contributes to the market's growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in improved advancement of processes and techniques also contributes to the rising demand for lipid panel testing.
The Asia-Pacific lipid panel testing market is expected to grow in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in the developmental activity for launching novel services and efficient and accurate lipid panel tests in the market. The increasing development in advanced healthcare techniques is further boosting market growth. However, difficulties such as the stringent regulations for the production and commercialization of lipid panel testing products might hamper the growth of the Asia-Pacific lipid panel testing market in the forecast period.
Data Bridge Market Research analyzes that the Asia-Pacific lipid panel testing market is expected to reach the value of USD 4,278.59 million by 2030, at a CAGR of 8.3% during the forecast period.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in Million, Volumes in Units, Pricing in USD
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Segments Covered
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Products & Services (Devices, Kits, and Services), Prescription Mode (Prescription-Based Testing and OTC-Based Testing), Application (Hyperlipidemia, Hypertriglyceridemia, Familial Hypercholesterolemia, Hypo lipoproteinemia, Tangier Disease, Atherosclerosis. and Others), End User (Hospitals, Specialty Clinics & Physician Offices, Pathology Laboratories, Diagnostic Clinics, Ambulatory Surgical Centers, Reference Laboratories, Academic and Research Institutes, and Others), Distribution Channel (Direct Tender, Retail Pharmacy, Online Sales, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K, Italy, Spain, Netherlands, Russia, Switzerland, rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, and rest of Middle East and Africa
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Market Players Covered
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Some major companies dealing in the Asia-Pacific lipid panel testing market are Nova Biomedical, Spark Diagnostics Pvt. Ltd., Everlywell, Inc., HORIBA Medical, Abbott, F. Hoffmann-La Roche Ltd., SD Biosensor, INC., Elitech Group, Randox Laboratories Ltd., Diatron, Siemens Healthcare GmbH, Sinocare, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., myLAB Box, Awareness Technology, Inc., Croda International Plc., Eurofins Scientific, Boston Heart Diagnostics Corporation, cpc diagnostics, PTS Diagnostics, ARUP Laboratories, Laboratory Corporation of America Holdings, EKF Diagnostics, Beckman Coulter, Inc. (Subsidiary of Danaher), and Sekisui Diagnostics (A Part of SEKISUI Chemical Co. Ltd.) among others
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Asia-Pacific Lipid Panel Testing Market Definition
A lipid panel is a common blood test healthcare providers use to monitor and screen for cardiovascular disease risk. The panel includes three cholesterol measurements as well as a triglyceride measurement.
Healthcare providers use lipid panels to assess someone's cardiovascular health by analyzing cholesterol in their blood and to help diagnose other health conditions. The lipid panel assesses the presence of specific fat molecules known as lipids in the blood. It measures multiple substances as a panel test, including several cholesterol-containing molecules. The lipid panel assesses the risk of cardiovascular diseases such as heart disease, heart attack, and stroke in children and adults.
Asia-Pacific Lipid Panel Testing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- INCREASING PREVALENCE OF CHRONIC DISEASES
A lipid panel is a common blood test used by healthcare providers to monitor and screen the risk of cardiovascular disease and other chronic diseases. The panel includes three measurements of cholesterol and a measurement of triglycerides. While providers & healthcare professionals mostly use lipid panels for screening or monitoring cholesterol levels. Providers sometimes use them as part of the diagnostic process for certain health conditions that can affect your lipid levels, including pancreatitis, chronic kidney disease, and hypothyroidism.
Thus, in conclusion, the rise in the number of chronic diseases such as cardiovascular diseases, chronic kidney disorders, liver diseases, and various other chronic diseases has led to an increase in the demand for lipid profiling with increasing market demand for lipid panel testing kits will drive the growth of the Asia-Pacific lipid panel testing market in coming years.
Restraint
- HIGH COST ASSOCIATED WITH TESTING PANELS
A lipid profile test is a lipid panel, cholesterol profile, or heart risk profile. This is a combination of blood tests that help measure levels of blood fats such as cholesterol and triglycerides. These cholesterol and triglycerides are good and bad types of fat.
The testing panels require a huge cost for the development process. As the concept needs to be locked down, the materials must be sourced, and it is important to consider lead times. Additionally, the process is time-consuming as the device design needs sufficient time to fully mature before entering the market.
Furthermore, any changes that must be re-verified will impact time. The growing advancements in biosensor assay formats and other complementary technologies demanded an effective investment for successful operations and a project risk management plan. Establishing R&D for conducting research entails high costs, leading to expensive devices. Thus, this factor is a major restrain for the Asia-Pacific lipid panel testing market.
Opportunity
GROWTH IN TECHNOLOGICAL ADVANCEMENTS
A lipid panel is a common blood test healthcare providers use to monitor and screen for cardiovascular disease risk. The panel includes three cholesterol measurements as well as a triglyceride measurement.
Technological developments in lipid panel testing result in additional accuracy, high sensitivity, higher success rate, and newer materials, depending on their use in different lipid panel testing. The commercializing of advanced technology-based lipid panel testing devices and products used for diagnostics and testing procedures has increased consumer demand, which propels the market's demand.
Thus, the technological advancements and development of the lipid panel testing method are expected to drive growth in the Asia-Pacific lipid panel testing market.
Challenge
LACK OF SKILLED & CERTIFIED PROFESSIONALS
The requirement for skilled and certified professionals is a big challenge for lipid panel testing. The demand for lipid panel testing for the diagnosis is increased due to increasing cases of obesity, cardiovascular diseases, and cholesterol Asia-Pacific. However, the fewer skilled professionals in the diagnostic center are hampering the market's growth.
The instruments, methods, and procedures of lipid panel testing diagnosis have been advanced, but there are certain gaps in standardization, equalization, and knowledge. Technicians face technical training gaps related to problems and adapt advanced methods safely to perform procedures efficiently. In lipid panel testing, skilled professionals are highly needed for method development, validation, operation, and troubleshooting.
Post COVID-19 Impact Analysis on Asia-Pacific Lipid Panel Testing Market
Covid-19 made a massive dent in the diagnostics sector with a steep fall in patient volumes since the beginning of 2020. The pandemic developed an eerie sense of fear among people, which eventually impacted hospital/clinic and lab visits. Regular checkups became cumbersome, stressful and time consuming. While the overall diagnostics sector seemed to have suffered a decline, the area of home diagnostics was the silver lining in the new scheme of things.
Recent Developments
- In October 2022, Eurofins Scientific, announced the commencement of the largest European biomonitoring projects for PFAS (polyfluoroalkyl) in blood Antwrep which is commissioned by the Agency for Care and Health of the Flemish Government. This product launch has helped the company in its product portfolio expansion.
- In December 2022, Laboratory Corporation of America Holdings, announced that it had begun the operations at a new, larger anatomic pathology and histology laboratory in Los Angeles. This new operations helped the company in expanding the company’s Asia-Pacific central laboratory capabilities.
Asia-Pacific Lipid Panel Testing Market Scope
Asia-Pacific lipid panel testing market is segmented into five notable segments such as product & services, prescription mode, application, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
PRODUCT & SERVICES
- DEVICES
- KITS
- SERVICES
On the basis of products & services, the Asia-Pacific lipid panel testing market is segmented into devices, kits and services.
PRESCRIPTION MODE
- PRESCRIPTION-BASED TESTING
- OTC-BASED TESTING
On the basis of prescription mode, the Asia-Pacific lipid panel testing market is segmented into prescription-based testing and OTC-based testing.
APPLICATION
- HYPERLIPIDEMIA
- HYPERTRIGLYCERIDEMIA
- FAMILIAL HYPERCHOLESTEROLEMIA
- HYPO LIPOPROTEINAMIA
- TANGIER DISEASE
- ATHEROSCLEROSIS
- OTHERS
On the basis of application, the Asia-Pacific lipid panel testing market is segmented into hyperlipidemia, hypertriglyceridemia, familial hypercholesterolemia, hypo lipoproteinemia, tangier disease, atherosclerosis, and others.
END USER
- HOSPITAL
- SPECIALTY CLINICS AND PHYSICIAN OFFICES
- PATHOLOGY LABORATORIES
- DIAGNOSTIC CLINICS
- AMBULATORY SURGICAL CENTERS
- REFERENCE LABORATORIES
- ACADEMIC AND RESEARCH INSTITUTES
- OTHERS
On the basis of end user, the Asia-Pacific lipid panel testing market is segmented into hospitals, specialty clinics & physician offices, pathology laboratories, diagnostic clinics, ambulatory surgical centers, reference laboratories, academic and research institutes, and others.
DISTRIBUTION CHANNEL
- DIRECT TENDER
- RETAIL PHARMACY
- ONLINE SALES
- OTHERS
On the basis of distribution channel, the Asia-Pacific lipid panel testing market is segmented into direct tender, retail pharmacy, online sales, and others.
Asia-Pacific Lipid Panel Testing Market Regional Analysis/Insights
The Asia-Pacific lipid panel testing market is categorized into five notable segments: products and services, prescription mode, application, end user, and distribution channel.
The countries covered in this market report are China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, and Rest of Asia-Pacific.
In 2023, China dominates Asia-Pacific region due to increasing customer inclinations towards advanced technological processes.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. In addition, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Lipid Panel Testing Market Share Analysis
Asia-Pacific lipid panel testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breath, application dominance, product type lifeline curve. The above data points provided are only related to the company’s focus on the Asia-Pacific lipid panel testing market.
Some major companies dealing in the Asia-Pacific lipid panel testing market are Nova Biomedical, Spark Diagnostics Pvt. Ltd., Everlywell, Inc., HORIBA Medical, Abbott, F. Hoffmann-La Roche Ltd., SD Biosensor, INC., Elitech Group, Randox Laboratories Ltd., Diatron, Siemens Healthcare GmbH, Sinocare, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., myLAB Box, Awareness Technology, Inc., Croda International Plc., Eurofins Scientific, Boston Heart Diagnostics Corporation, cpc diagnostics, PTS Diagnostics, ARUP Laboratories, Laboratory Corporation of America Holdings, EKF Diagnostics, Beckman Coulter, Inc. (Subsidiary of Danaher), and Sekisui Diagnostics (A Part of SEKISUI Chemical Co. Ltd.) among others.
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