T he global cholesterol testing services market is expected to reach USD 17.57 Billion by 2021 from an estimated value of USD 11.96 Billion in 2016, growing at a CAGR of 8% during the forecast period.
The cholesterol testing market is driven by factors such as increasing incidence of cardiovascular diseases and obesity, physician preference of laboratory testing rather self-testing, government initiatives to improve quality of testing, and rapid growth in the geriatric population are propelling the growth of this market.
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However, rapidly growing home/self-testing and advent of noninvasive cholesterol testing methods are the major factors that may hinder growth of the market.
Based on region, the cholesterol testing services market is segmented into North America, Europe, Asia, and RoW. North America is expected to dominate the global cholesterol testing market in 2016, with the U.S. accounting for a major share. Asia is projected to be the fastest-growing region in terms of CAGR during the forecast period. This is due to the large population base, increased prevalence of cardiovascular diseases, and growing number of testing facilities in the Asian region.
Major players in the cholesterol testing market include Laboratory Corporation of America Holdings (LabCorp) (U.S.), Quest Diagnostics Incorporated (U.S.), Eurofins Scientific (Luxembourg), Spectra Laboratories Inc. (U.S.), Unilabs (Switzerland), SYNLAB International GmbH (Germany), Bio-Reference Laboratories Inc. (U.S.), Clinical Reference Laboratory, Inc. (CRL) (U.S.), ACM Medical Laboratory (U.S.), and Adicon Clinical Laboratory (China).
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