The cholesterol testing services market is witnessing significant growth across the globe owing to factors such as increasing incidence of cardiovascular diseases, inclination of physicians to go for conventional laboratory testing instead of self-testing, growing awareness and adoption of preventive healthcare, government initiatives to improve quality of testing, and increasing geriatric population. Furthermore, patient-initiated cholesterol testing and potential in emerging geographies are expected to offer a wide range of growth opportunities. Key players in the cholesterol testing services market are pursuing strategies such as acquisitions, expansions, investments, agreements, and service launches to strengthen their position in the market.
The cholesterol testing services market is segmented on the basis of type of customer and region. Based on type of customer, the market is segmented into physicians/providers and hospitals; employers, health plans, and Managed Care Organizations (MCOs); government agencies, Accountable Care Organizations (ACOs), and Integrated Delivery Networks (IDNs); and patients. Based on region, the market is segmented into North America, Europe, Asia, and RoW. The patient-driven cholesterol testing services segment is expected to grow at the highest CAGR during the forecast period (2016-2021), due to the growing health awareness and adoption of preventive healthcare, availability of lab test services for patients without any physician intervention, and online access to reports and readings through smartphones.
In 2016, the physicians/providers and hospitals segment is expected to account for the largest share of the market. This growth is majorly due to physician’s preference on laboratory testing over self-testing.
In 2016, North America is expected to dominate the cholesterol testing services market, with Europe as the second-largest regional segment. However, the cholesterol testing services market in the Asian region is expected to witness the highest CAGR during the forecast period. This growth is attributed to the large population in the region, increased prevalence of cardiovascular diseases, increasing awareness in masses for preventive healthcare, and large number of testing facilities available in the Asian region.