New York, June 01, 2021 (GLOBE NEWSWIRE) -- Market size: USD 12.59 Billion in 2020, Market Growth: CAGR of 7.8%, Market Trends: Rising demand for immediate diagnosis and growing adoption of CMP testing
The global comprehensive metabolic panel testing market size is expected to reach USD 22.97 billion in 2028 and register a CAGR of 7.8% according to the latest report by Reports and Data. Government initiatives to create awareness about various diseases and growing number of biopsy processes are some key factors driving global market revenue growth.
A comprehensive metabolic panel is a group of 14 tests that help in evaluating body fluid balance, kidney and liver functioning, electrolytes, sugar levels, and blood protein levels. It is used to detect various chronic diseases. Demand for comprehensive metabolic panel testing systems is growing due to rising prevalence of chronic and target disorders, such as kidney disease, liver disorders, and diabetes, along with increasing geriatric population. Moreover, rising investments in research and development activities to develop novel and innovative products are further boosting market growth. In addition, increasing adoption of data-driven solutions for analyzing health conditions is expected to boost market growth in the coming years.
However, increasing chances of false results due to unavailability of well-trained professionals for performing CMP testing and stringent regulatory framework are some key restraints affecting global market growth.
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Some key highlights in the report:
- Among the disease segment, the diabetes segment is expected to account for fastest revenue growth during the forecast period. Rising prevalence of diabetes and growing requirement of early diagnosis are significant factors fueling segment revenue growth.
- Based on test types, the kidney segment is expected to maintain its dominating position throughout the forecast period. High revenue growth is attributable to rising prevalence of kidney disorders, diabetes, and hypertension and increasing need for kidney tests in geriatric population.
- Among end users, the laboratories segment is projected to account for robust revenue growth between 2021 and 2028. Increasing usage of diagnostic tests in laboratories and growing investments for advancements of laboratories are some key factors boosting growth of this segment in the comprehensive metabolic panel testing market.
- North America is expected to account for robust revenue growth throughout the forecast period due to access to advanced healthcare facilities, presence of leading market players, rising prevalence of chronic disorders, and growing adoption of CMP testing.
- Asia Pacific market is expected to account for fastest revenue growth between 2021 and 2028 owing to growing elderly population, and rising emphasis on early diagnosis of disease.
- The market in Middle East and Africa is expected to account for steady revenue growth throughout the forecast period owing to improving healthcare system in the region.
List of Top Key Players of Comprehensive Metabolic Panel Testing Market
- Abbott Laboratories
- Quest Diagnostics Incorporated
- Sonic Healthcare
- Laboratory Corporation of America Holdings
- Laboratories
- CENTOGENE AG
- SYNLAB International GmbH
- TCG Corp
- Scion Lab Services, LLC
- UNIPATH
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/comprehensive-metabolic-panel-cmp-testing-market
For this study, Reports and Data has segmented the global comprehensive metabolic panel testing market based on Disease, Test Type, End User, And Region:
Disease Outlook (Revenue, USD Billion, 2018 - 2028)
- Kidney Disease
- Liver Disease
- Diabetes
- Others
Test Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Electrolytes
- Proteins
- Kidney Tests
- Glucose
- Liver Functional Tests
- Others
End User Outlook (Revenue, USD Billion, 2018 - 2028)
- Laboratories
- PoC (Point of Care)
Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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