Ferritin Testing Market Size & Share, by Product Type (Instrument, Reagent, Kits); Indication (Anemia, Hemochromatosis, Pregnancy, Lead Poisoning); End-user (Hospitals, Diagnostic Laboratories, Specialty Clinics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4137
  • Published Date: May 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Ferritin Testing Market size is expected to cross USD 2 Billion by the end of 2035, witnessing around 9% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of ferritin testing was around USD 550 Million. The growth of the market is driven by the increasing burden of illness caused by iron deficiency among children, women. Around 42% of children under the age of five and 40% of pregnant women are anemic all across the globe, recorded as per a report by World Health Organization. 

Furthermore, Anemia is also caused by hemoglobinopathies and viral disorders including malaria, TB, and parasitic infections. For instance, approximately 3.5 billion individuals globally are infected by intestinal parasite diseases, and more than 200,000 fatalities are recorded every year on the base of parasitic infections.


Ferritin Testing Market
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Ferritin Testing Market: Growth Drivers and Challenges

Growth Drivers

  • Less Awareness of Iron Deficiency Across the Globe - Iron deficiency is one of the most common nutrient deficiencies worldwide, affecting an estimated 1.6 billion people. However, there is still a lack of awareness about the consequences of iron deficiency and the importance of early diagnosis and treatment. Iron deficiency anemia is the most serious form of iron deficiency and can have serious health consequences. As of the report, iron deficiency anemia affects an estimated 1.2 billion people worldwide, with the greatest burden in low- and middle-income countries. 
  • Significant Increase in Rheumatoid Arthritis (RA) Cases – Global Rheumatoid Arthritis (RA) prevalence was 460 per 100,000 population in 2019 and these cases are estimated to continue to increase. Hence, there is an increasing demand for ferritin testing services in the upcoming years for providing rheumatoid arthritis treatment at the right time.
  • Increasing Blood Cancer, and Non-Cancerous Blood Disease Cases- The serum ferritin level is usually high in patients dealing with pancreatic cancer, lung cancer, leukemia, non-cancerous blood disease, and others. These levels of ferritin are checked regularly, to determine the level of iron in the body. Generally, the normal range is between 11 to 200 ng/ml, and the person with cancer has a ferritin level of around 126 ng/ml.
  • Growing Older Population – In 2019, the number of people aged 65 and over worldwide was 703 million, according to a United Nations report. It is estimated that by 2050, 1.5 billion older people worldwide will be affected. Globally, the proportion of people over the age of 65 increased from 6% in 1990 to 9% in 2019. It is expected to increase to 16% by 2050. There is a high chance, that ferritin levels can rise with the age owing to their lower diet, and advanced age.

Challenges

  • Availability of Alternative Methods - The expansion of the ferritin test market is expected to be hampered by the high cost of ferritin tests and the availability of alternative transferrin saturation tests. Furthermore, transferrin saturation tests are more common than ferritin tests in humans. Therefore, it is considered to be a hindrance to market growth. 
  • Lack of Awareness Regarding Tests Takes Place in Low and Middle-Income Countries.
  • Less Awareness About the Test

Ferritin Testing Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~9%

Base Year Market Size (2022)

~USD 550 million

Forecast Year Market Size (2035)

~USD 2 billion

Regional Synopsis

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ferritin Testing Segmentation

Indication (Anemia, Hemochromatosis, Pregnancy, Lead Poisoning)

The anemia segment in the ferritin testing market is anticipated to hold the largest share of 35% by the end of 2035. A person with anemia does not have enough healthy red blood cells to properly oxygenate the body's tissues, which can lead to adverse effects on the body, such as fatigue, weakness, and headaches. Anemia can take many forms and each has its etiology. It can range from moderate to severe, and it can be temporary or permanent. According to the Global Nutrition Report, as of May 2021, 613.2 million adolescent girls and women aged 15 to 49 (32.8% prevalence) are affected by anemia, Prevalence in pregnant women (35.3 million, 40.1%) and non-pregnant women (577.9% prevalence). 1 million, 32.5%) adolescent girls and women. 

End Users (Hospitals, Diagnostic Laboratories, Specialty Clinics)

The hospital's segment is anticipated to account for the largest share of 45% by the end of 2035. The growing number of hospitals and their infrastructure development is expected to drive segment growth. According to the American Hospital Association survey, there are currently approximately 6,146 hospitals in the United States. The US spent about $3.6 trillion on health care in 2018, according to the Centers for Medicare and Medicaid Services.  During the projected time frame, rising hospital admission rates and the prevalence of iron deficiency are anticipated to fuel the expansion of the hospital sector in the worldwide ferritin testing market.

Our in-depth analysis of the global market includes the following segments:

          Product Type

  • Instrument
  • Reagent
  • Kits

          Indication

  • Anime
  • Hemochromatosis
  • Pregnancy
  • Lead Poisoning

           End User

  • Hospitals
  • Diagnostic Laboratories
  •  Specialty Clinics

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Ferritin Testing Industry - Regional Synopsis

North American Market Forecast   

The Ferritin Testing Market in the North America region is estimated to witness noteworthy growth of 35% over the forecast time period. The rising healthcare expenditure in the region is the major factor that is contributing to the advanced level of testing. The healthcare expenditure is predicted to climb to USD 4.1 trillion in 2020, accounting for 9.7 % up from the previous year. Furthermore, there has been a high prevalence of blood disorders among the population in the North American region which will further boost the requirement for ferritin test devices. In addition, the heavy investment in research and development of ferritin testing, and initiatives by the government to control iron deficiencies are predicted to fuel the growth of the market in the region.

APAC Market Statistics

Following North America, the Asia Pacific region is expected to provide lucrative growth opportunities to the market over a projection period. The number of clinics and diagnostic labs is also growing rapidly, especially in emerging markets. Some of the key countries in the APAC region that are driving the growth of the ferritin test market are China, India, Japan, South Korea, and Australia. These countries have well-established healthcare systems, increasing the demand for ferritin testing. In addition, the increasing availability of advanced diagnostic technologies such as point-of-care genetic testing and automated immunoassay platforms also contributes to the market growth in the region.

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Ferritin Testing Market Size
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Companies Dominating the Ferritin Testing Landscape

top-features-companies
    • Sekisui Diagnostics, LLC. 
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • bioMérieux SA
    • Thermo Fisher Scientific Inc.
    • ORGENTEC Diagnostika GmbH
    • Eurolyser Diagnostica GmbH
    • Cortez Diagnostics Inc.
    • HORIBA Ltd.
    • Monobind Inc.
    • Aviva Systems Biology Corporation
    • Abnova Corporation

In the News

  • bioMérieux, a global leader in in-vitro diagnostics, has completed the acquisition of Specific Diagnostics, which has developed a rapid antimicrobial susceptibility test (AST) system that generates phenotypic AST directly from positive blood cultures.
  • HORIBA Ltd. expands its laboratory Chemistry products by acquiring MedTest Dx and Pointe Scientific. With the addition of Pointe Scientific's complementary novel technology and MedTest's high-quality Chemistry solutions, HORIBA Medical is expected to fulfill the diverse needs of the In-vitro diagnostics market.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4137
  • Published Date: May 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rise in geriatric population all across the globe, and less awareness of iron deficiency across the globe are the major factors driving the growth of the ferritin testing market.

The market size of ferritin testing is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023-2035.

The major players in the market are Sekisui Diagnostics, LLC., BioM�rieux, Thermo Fisher Scientific Inc., Eurolyser Diagnostics GmbH, HORIBA Ltd., Monobind, Aviva Systems Biology, and Abnova.

The anemia segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

North America is estimated to create notable growth opportunities for market growth over the forecast period.
Ferritin Testing Market Report Scope
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