The global comprehensive metabolic panel testing market size is estimated to expand at a considerable CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the increased prevalence of chronic illnesses as well as the rising preference for early detection and treatment among the health-conscious population.
A comprehensive metabolic panel (CMP) includes a collection of several blood tests that can help examine substances present in the blood. These blood tests are basically performed to examine some key features such as kidney and liver functioning, sugar level, and nutrient balance. The tests can easily detect if there is high sugar level or any disorder in the kidney or liver functioning of a patient.
For instance, CMP glucose test can assess the level of glucose in the blood and can confirm if a patient is suffering from diabetes (high glucose level) or hypoglycemia (low sugar level). The key purpose for the adoption of a CMP is to assess a board analysis regarding the existing physical fitness or well-being of people. Additionally, a CPM is widely used for various medical applications including screening, monitoring, and diagnosis of several health conditions and the aftermath treatment process.
Rising cases of chronic illness such as diabetes and kidney diseases are mainly caused by the high frequency of lifestyle-related disorders, impacted by the prevalence of smoking and bad eating habits. Lack of physical exercise and inactive lifestyle are among the reasons contributing to the rise in chronic disease incidence.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing number of patients suffering from chronic illness especially diabetes and high preference for the prevention from such diseases are expected to boost the market expansion.
- Growing per capita income and rising health fitness concerns from a large number of the global population are key drivers of the market.
- Expanding the healthcare infrastructure and improving point of care facilities along with the rapid development of diagnostic kits for several diseases present key factors that can expand the market growth.
- Introduction of novel methods and techniques for increasing accuracy and efficiency in the results of CMP testing are another key factors fueling the market growth.
- Development and implementation of different bioinformatics and data management solutions along with the rise of automated systems in laboratories are key opportunities for the market expansion.
- Strict reimbursement policy and regulatory organizations applying rigorous regulations are some major challenges that can hamper the market expansion.
Scope of the Report
The report on the global comprehensive metabolic panel testing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Comprehensive Metabolic Panel Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Diseases (Kidney Disease, Liver Disease, Diabetes, and Others), and End-users (Laboratories and PoC)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Abbott, Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, UNIPATH, and SYNLAB International GmbH
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Market Segment Insights
Kidney diseases segment to hold a key market share
Based on diseases, the global comprehensive metabolic panel testing market is divided into kidney disease, liver disease, diabetes, and others. The kidney disease segment is expected to account for a key share of the market in the coming years due to high rate of illness related to kidney disorders worldwide and rising demand for maximum analytical use from kidney patients.
Other comorbidities such as diabetes and excessive blood pressure may be caused due to renal abnormalities. Meanwhile, the diabetes segment is anticipated to grow at a significant rate due to rising numbers of the patients having a history of cardiovascular disease or diabetes. The absence of early symptoms makes early illness diagnosis difficult.
Laboratories segment to constitute a large share
On the basis of end-users, the market is divided into laboratories, and PoC. The laboratories segment is projected to constitute a large market share during the forecast period owing to easy availability, strong market penetration, expanding usage, and clinically noteworthy effects of laboratory centers. Some laboratories are extensively linked up and associated with hospitals, blood banks, and specialist diagnostic institutions to increase their leverage of services. Furthermore, the widespread availability of auxiliary support both in terms of labor and infrastructure is a crucial driver for the market expansion.
On the other hand, the PoC segment is expected to expand rapidly in the coming years owing to its ease of use, portability, speed of results, and lower sample required. Rising customer demand for enhanced and faster diagnostics and wide adoption of advanced technology for laboratory testing of CMP are expected to boost the segment growth.
North America is anticipated to register a robust CAGR
Based on regions, the global comprehensive metabolic panel testing market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to register a robust CAGR during the forecast period due to the excellent commercial success of CMP diagnostics especially in the US. High illness burden, increased consumer awareness, aggressive government actions, technology breakthroughs, and improvements in healthcare infrastructure are some prominent drivers for the regional market expansion. Furthermore, the presence of major global companies in the region is another key factor for the market expansion in North America.
Meanwhile, the market in Asia Pacific is predicted to grow at a fast CAGR during the projected period owing to improvements in healthcare infrastructure, more consumer awareness, rising disposable income, and overall economic development. During the period, the demand for CMP testing is likely to increase rapidly in these emerging markets such as China, India, and South Korea.
Segments
Segments Covered in the Report
The global comprehensive metabolic panel testing market has been segmented on the basis of
Diseases
- Kidney Disease
- Liver Disease
- Diabetes
- Others
End-users
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott
- Quest Diagnostics
- Laboratory Corporation of America Holdings (LabCorp)
- Sonic Healthcare
- UNIPATH
- SYNLAB International GmbH B
Competitive Landscape
Abbott, Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Sonic Healthcare, UNIPATH, and SYNLAB International GmbH are the key players leading the market. Many of these competitors are consistently focusing on strategic efforts such as product launches and development, mergers and acquisitions, licensing alliances, and co-development arrangements to enhance their market positions.
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