Serum Lactate Testing Market is Growing owing to Increasing prevalence of Diabetes, Anaemia, Heart Failure

Serum Lactate Testing Market Overview

According to the latest research by Future Market Insights, serum lactate testing market is expected to witness robust growth with 4-5% CAGR during the forecast period from 2021 to 2031. The serum lactate testing will show growth due to the rising prevalence of chronic disease like anaemia, diabetes, heart failure. And also globally and an increase in investment to healthcare system. Therefore, growth at a significantly high CAGR will be expected soon.

What is driving the Demand for Serum Lactate Testing?

Lactic acid in the blood is a fairly sensitive and reliable indicator of tissue hypo perfusion and hypoxia that is tested by serum lactate test. Diabetes, anaemia, heart failure due to shorting of oxygen and increasing lactic acid level in blood cause life threating condition. Increasing prevalence of this disease drive the demand of this market.

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For Instances, As per 2020 reported by world health organization globally 1.6 Bn people is affected by anaemia, About 422 Mn people worldwide have diabetes and 1.6 Mn deaths are directly attributed to diabetes, Cardiac disorder is the leading cause of death worldwide.

Also, with increasing demand in the field of diagnosis, the major players and different countries made advances in their research and technology for making the process easy, painless and rapid. All these factors drive the serum lactate testing market significantly during the forecast period from 2021 to 2031.

COVID-19 Likely to Propel the Growth of Serum Lactate Testing Market

With the outbreak of COVID-19, the disease spread at a fast rate. Covid-19 cause respiratory disorder and other chronic disease occur. Covid -19 cause Oxygen deficiency lead to more lactic acid consumption in body that ultimately give birth to chronic diseases. The confirmed cases of COVID-19 reached 167,252,150 on 25th May 2021 in less than two years according to WHO. Therefore, it has been concluded that COVID-19 propels the serum lactate testing market during the forecast period.

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U.S. and Canada Serum Lactate Testing Market Outlook

U.S. and Canada will retain the top position in the market of serum lactate testing due to the rising technological adoption in the region and increasing awareness of chronic disease.

According to the Centres for Disease Control and Prevention (CDC), In the U.S. due to shortness of breath and oxygen more than 200,000 hospitalizations and 36,000 deaths every year. As per 2017 reported data by American heart association 2,353 deaths from cardiovascular each day. Rising awareness about cardia disorders and the great acceptance of newer technology by the American population is the major factor of dominance in this area.

Some of the leading manufacturers and suppliers of serum lactate testing include

• ApexBio
• EKF Diagnostics
• Nova Biomedical
• Arkray, Inc.
• F. Hoffmann-La Roche Ltd
• Beckman Coulter, Inc.
• LifeSpan BioSciences, Inc
• Aviva Systems Biology Corporation
• Accurex Biomedical Pvt. Ltd.
• Thermo Fisher Scientific Inc
• PerkinElmer, Inc
• Quest Diagnostics Incorporated
• Abcam plc
• Anamol Laboratories Private Limited
• Randox Laboratories Ltd
• Sigma-Aldrich Co
• Merck KGaA
• Others

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