The global adiponectin testing market is estimated to garner substantial revenue by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to factors such as, the rising adoption of adipose-derived products and the growing prevalence of cardio metabolic diseases across the globe. For instance, it is observed that about 1 out of 1,000 people have some sort of metabolic disease worldwide. Adiponectin is a type of protein hormone that is responsible for the modulation of multiple metabolic processes. Common examples of metabolic diseases are diabetes, cystinuria, phenylketonuria (PKU), albinism, and others. A report by The National Library of Medicine (NLM) showed that 1 in 7,000 people have cystinuria globally. Furthermore, the growing number of obese populations is also projected to hike the growth of the market over the forecast period. For instance, various academic researches demonstrated that more than 39% of adults are overweight while around 13% of the adults are obese across the globe. All these factors are projected to influence the growth of the market positively over the forecast period.
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The market is segmented by type into ELISA, enzyme immunoassay, and others, out of which, the ELISA segment is anticipated to hold the largest share in the global adiponectin testing market during the forecast period on account of its higher utilization in the monitoring of therapeutic drug level. Moreover, the significant utilization of ELISA in the examination of the antibodies in the blood is projected to propel the growth of the market over the forecast period.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the adiponectin testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of rising cases of cardio metabolic diseases and a growing population with obesity. Data released by the Centers for Disease Control and Prevention demonstrated the fact that approximately 659,000 people lose their lives due to heart diseases annually solely in the United States. Furthermore, up-surged manufacturing of testing laboratories in the region is anticipated to boost the growth of the market in the region.
Furthermore, the Asia Pacific region is anticipated to represent the lucrative opportunities for the growth of the market over the forecast period. The growth of the market in the region is ascribed to rising investments in healthcare R&D activities and a growing geriatric population with cardio metabolism and chronic diseases. Such factors are estimated to boost the growth of the market in the region over the forecast period.
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The global adiponectin testing market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global adiponectin testing market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing adoption of adipose-derived products and higher prevalence of cardio-metabolic diseases globally are the major factors driving the growth of the adiponectin testing market.
The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022 - 2031.
The major players in the market are STRATEC SE, Laboratory Corporation of America Holdings, Bio-Rad Laboratories, Inc., Boster Biological Technology, Merck KGaA, ERBA Diagnostics, Inc., Zeus Scientific Inc., and Trinity Biotech plc.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, product, end-user, and by region.
The ELISA segment is anticipated to hold the largest market size in value over the forecast period and display significant growth opportunities.
Lack of required technology is estimated to hamper the market growth.
North America region will provide more business opportunities for the growth of the adiponectin testing market in the future on the back of rising manufacturing of the testing laboratories.
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