Growing elderly population and rising prevalence of chronic diseases along with focus on early detection of diseases and increasing investments in research and development activities are fueling market growth
Market size: USD 12.59 Billion in 2020, Market Growth: CAGR of 7.8%, Market Trends: Technological advancements and growing adoption of point-of-care CMP testing
The global Comprehensive Metabolic Panel (CMP) Testing market size is expected to reach USD 22.97 billion by 2028 and register a CAGR of 7.8% according to the latest report by Reports and Data. Rising prevalence of chronic diseases, such as kidney diseases, diabetes, liver dysfunctions, and growing research on developing innovative products are key factors driving global market revenue growth.
Comprehensive metabolic panel testing is a blood test that measures 14 different types of substances for analyzing body mechanisms and various parameters, such as kidney and liver health, blood protein and sugar levels, body fluid balance, and electrolyte levels. Increasing cases of chronic conditions and rising prevalence of lifestyle-associated diseases such as obesity or hypertension due to smoking, lack of exercise, and sedentary lifestyle are primarily boosting demand for comprehensive metabolic panel testing systems. In addition, growing adoption of point-of-care CMP testing and rising number of biopsy processes are expected to further enhance revenue growth. Moreover, increasing initiatives taken by government to create awareness about diseases and treatment for chronic diseases are fueling market growth.
However, factors, such as implementation of strict regulations and high possibility of fast results due to dearth of skilled professionals, are expected to hamper growth of the global comprehensive metabolic panel testing market during the forecast period.
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The Comprehensive Metabolic Panel (CMP) Testing market report offers key insights into market scope along with emerging growth opportunities over the forecast period. The report also provides information about the competitive landscape of the global Comprehensive Metabolic Panel (CMP) Testing market. The global Comprehensive Metabolic Panel (CMP) Testing market is fragmented due to presence of numerous key players on a global and regional scale. Key players are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, and research and development activities to expand their product portfolio and gain a robust footing in the market.
Key companies operating in the Comprehensive Metabolic Panel (CMP) Testing Market and profiled in the report are:
Abbott Laboratories, Quest Diagnostics Incorporated, Sonic Healthcare, Laboratory Corporation of America Holdings, ARUP Laboratories, CENTOGENE AG, SYNLAB International GmbH, TCG Corp, Scion Lab Services, LLC, UNIPATH
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The report provides a significant assessment of the recent market trends, revenues, segments, and key regions across the globe. The regional analysis covers major geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report analyzes key regions for production and consumption patterns, import/export, market share, revenue contribution, growth rate, and supply and demand ratio for the forecast period 2021-2027. It also discusses the impact of government regulations, macro- and micro-economic factors, and economic growth of the region on overall market growth.
Disease Outlook (Revenue, USD Billion, 2018 – 2028)
- Kidney Disease
- Liver Disease
Test Type Outlook (Revenue, USD Billion, 2018 – 2028)
- Kidney Tests
- Liver Functional Tests
End User Outlook (Revenue, USD Billion, 2018 – 2028)
- PoC (Point of Care)
Regional analysis covers:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Answered by the Report:
- What are the key growth driving and restraining factors of the Comprehensive Metabolic Panel (CMP) Testing market?
- What are key opportunities and growth prospects of the Comprehensive Metabolic Panel (CMP) Testing industry is expected to witness over the forecast period?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- Which region is expected to dominate the market growth over the forecast period?
- Which segments are expected to register lucrative growth over the forecast period?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
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