Ferritin Testing Market Regional Analysis:
North American Market Insights
North America industry is poised to hold largest revenue share of 35% by 2035, impelled by rising healthcare expenditure in the region. 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 Insights
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.
