Published By : 17 Mar 2016 | Published By : QYRESEARCH
The global endocrine testing market is gaining impetus steadily in the global arena, thanks to the increasing base of the obese population as well as the rising prevalence of diabetes across the world. The advancements in the technologies utilized in endocrine testing are also fueling the worldwide endocrine testing market significantly.
Asia Pacific to Emerge as Most Attractive Regional Endocrine Testing Market
North America acquired the top position in the global endocrine testing market in 2014, accounting for a share of 40.6%. The continuous upgrade in endocrine testing technology and the increased awareness pertaining to healthcare among people in this region has boosted the North America endocrine testing market in the recent years.
In addition to this, the increasing prevalence of diabetes and the rise in the obese population in North America is likely to stimulate the demand for efficient endocrine testing technologies, fueling this regional market. However, Asia Pacific is expected to emerge as the most attractive regional market for endocrine testing. Analysts expect this regional market to report the highest growth in the coming years.
The increased investments by various healthcare products manufacturers in several Asian economies such as Japan, India, and China, together with the augmenting disposable income of people in this region, is anticipated to propel the Asia Pacific endocrine testing market in the near future.
Wide-ranging Product Portfolio Strengthens Roche’s Presence in Global Market
The global market for endocrine testing is highly consolidated with to 5 participants accounting for almost 90% of the overall market. In 2014, F. Hoffmann-La Roche Ltd. dominated the global market with a share of 23.1%. The strong presence of the company, supported by its wide-ranging product portfolio, has contributed significantly to its growth in the recent past.
Abbott Laboratories occupied the second market position with a total share of 19.3% in the same year. This impressive performance can be attributed to the broad array of technological platforms it offered over the last few years.
DiaSorin held the third position with a share of 16.8% in 2014 and was followed by Agilent Technologies and Siemens Healthcare, accounting for a share of 15.4% and 13.8%, respectively. Other prominent players in this market are bioMerieux SA, Ortho-Clinical Diagnostics, and Thermo Fisher Scientific Inc.