In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Cellular health plays an important role in knowing the health conditions of an individual. A body is composed of trillions of cells. It becomes mandatory to maintain an optimal health condition. Body cells require essential nutrients for proper growth and functioning in order to execute specific roles. The health of cells in the body determines the health condition.
The cellular health screening/health testing is an advanced technology which is capable of giving quick overview of a person’s health. It gives an indication about how well the body is working and can be used to determine muscle mass, fat mass, cellular health, toxicity of cells, extracellular and intracellular fluid levels, quality or quantity of muscle mass. It can also be used to determine autoimmune conditions, arthritis, asthma, different types of allergies or any kind of digestive problems related to inflammatory conditions. Certain areas can be detected and identified that need specific support.
The global cellular health screening/health testing market is observing robust growth on account of increasing number of geriatric population and growing rate of research activities which is further anticipated to drive the growth of the market over the forecast period i.e. 2019-2027. Furthermore, increasing preference and adoption of telomere performance programs to live a healthy life may boost the market growth in upcoming years. Additionally, rise in initiatives taken by the government followed by the development in the field of cellular health and rising number of chronic disorders and advancement in research methodology are expected to fuel the market growth.
The cellular health screening/health testing market is anticipated to record a CAGR of 8.1% over the forecast period. The market is segmented by test type into telomere test, oxidative stress test, inflammation test, heavy metal test, single test panel, multi test panel, out of which, multi test panel segment is anticipated to grow significantly as they have the potential to deliver results for multiple biomarkers in one specific test.
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Cellular health conditions represent the overall health of the body. For maintaining good cellular health, nutrition and proper diet are very important. If a person is suffering from a chronic disease, cells get affected in the body. Cellular heath screening is done in order to know the health of cells which are the structural and functional building units of the body. According to the World Health Organization, the number of chronic diseases are increasing globally. In the year 2001, the number of chronic diseases contributed to 60 percent of the 56.5 million total deaths globally and about 46% of the total worldwide burden of diseases. This increase in the number of chronic diseases worldwide is anticipated to drive the growth of the market.
The geriatric population is susceptible to degradation in the health which is directly related to the decline in the cellular health. Optimum nutrition and a balanced diet is very essential for maintaining proper health of cells. Cellular health screening tells the health of the cells along with any kind of disease a person is suffering from. According to World Bank, the geriatric population was 8.482 percent of the total world population in the year 2016 which increased to 8.696 percent of the total population in the year 2017. This increase in the global geriatric population is expected to boost the market growth over the forecast period.
The transport of samples to different places is a cumbersome task as the transport of biological samples including cells require proper attention. If any type of contamination is present, it could decrease or destroy the quality of cells. Such concerns related to the transport of samples might limit the growth of the market of the overcast period.
On the basis of regional analysis, the global cellular health screening/health testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to dominate the global market of health screening/health testing owing to the rise in the healthcare sector. The increase in the healthcare expenditure is further expected to boost the market growth in this region.
Europe is anticipated to showcase high growth rate over the forecast period on account of rising focus on healthcare sector. Developing economies in Asia Pacific region having large patient base are anticipated to boost the market growth in the region.
The global cellular health screening/health testing market is further classified on the basis of region as follows: