The Cholesterol Monitors Market is expected to be worth US$ 2,514.6 million in 2022. From 2022 to 2032, the cholesterol monitors market is expected to grow at a 7.4% CAGR and generate $4,502.4 million USD.
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Rising obesity rates and an ageing population in developed countries such as the United States, Germany, and France have increased the number of patients with high levels of bad cholesterol, necessitating a daily increase in the global demand for cholesterol monitoring kits.
Because of the growing popularity of non-invasive cholesterol monitoring technologies, the global market for cholesterol monitors is expected to grow.
Statistical Estimation in the Global Cholesterol Monitors Market
- The ageing population is a significant factor driving the increase in demand for cholesterol monitor kits. According to the Department of Economic and Social Affairs’ population division, by 2050, there will be 21.1% more people in the world who are 60 or older than there were in 1990 (9.2% to 11.7%).
- According to United Health Foundation data from 2017, 12.5% of adults 60 and older had high total cholesterol. This high prevalence is expected to fuel the growth of the cholesterol monitors market in the near future.
- • Because high cholesterol causes no symptoms, extensive cholesterol testing is required. Triglycerides, high-density lipoprotein (HDL), low-density lipoprotein (LDL), and total cholesterol levels in the blood are all measured in these tests. Blood cholesterol levels can help reduce the risk of peripheral artery disease, heart attack, and stroke.
- • Cholesterol levels should be checked if a person has had a stroke, PAD, coronary heart disease, a family history of early CVD, being overweight, diabetes, having a cholesterol-related condition, or having high blood pressure. According to the Centers for Disease Control and Prevention, one in every six adults (16.3%) has high cholesterol (defined as 240 mg/dL or higher).
What are the Factors Propelling the Global Cholesterol Monitors Market?
The rising prevalence of cardiovascular diseases, combined with a growing emphasis on early diagnosis and miniaturisation of cholesterol monitors, is expected to propel the global cholesterol monitor market forward. Another factor driving the growth of the global market for cholesterol monitors is the preference for self-monitoring to improve quality of life and lead a healthy lifestyle.
Furthermore, the market is expected to grow as a result of increased emphasis on reducing the global burden of cardiovascular diseases, as well as initiatives for preventive healthcare practises such as screening and health check-up programmes.
Governmental changes that provide cutting-edge healthcare facilities and awareness campaigns that are likely to raise the standard of testing also contribute to the growth of the global cholesterol monitor market.
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What are the Factors Hampering the Global Cholesterol Monitors Market?
The lack of awareness about the health benefits of lipid testing for food and beverages in emerging economies such as Bangladesh, Africa, and Afghanistan is expected to limit market growth over the forecast period.
Furthermore, major factors impeding the growth of the cholesterol monitor market include a lack of healthcare resources, a poorly trained workforce, strict safety regulations, and a lack of food safety infrastructure in Asia Pacific’s northern regions as well as the north and middle of Africa.
Why is North America Emerging as an Opportunistic Cholesterol Monitors Market?
North America will account for nearly 35% of the global cholesterol monitors market in 2022. This market growth is primarily due to an increase in the incidence of CVDs, combined with a rapidly ageing population, a strong preference for self-monitoring devices, and increased awareness of disease prevention and early detection in the region.
According to the Centers for Disease Control and Prevention, nearly one in every two Americans has high cholesterol, or nearly 38% of American adults (total blood cholesterol 200 mg/dL).
1 Too much cholesterol increases your risk of heart disease and stroke, which are the two leading causes of death in the United States.
Because of the increased risk of high cholesterol and its asymptomatic nature, the region’s demand for cholesterol monitors is constantly increasing. Furthermore, the region’s high prevalence of heart disease and obesity is a major source of concern.
According to the United Health Foundation’s annual report, the obesity rate in the United States increased from 31.5% in 2021 to 30.4% in 2020. This, in turn, is expected to drive regional growth, as is the growing preference for preventive healthcare. Rising government and healthcare organisation awareness and initiatives are expected to drive market growth.
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Who are the Key Players in the Global Cholesterol Monitors Market?
Key players have entered into merger agreements to expand their portfolios and provide effective services which can assist in managing infectious diseases and uncontrollable levels of cholesterol.
- Roche and GenMark Diagnostics agreed to merge in May 2021, with Roche fully acquiring GenMark for $1.8 billion. With GenMark’s expertise in syndromic testing, Roche hopes to expand its portfolio of molecular diagnostics. The companies believe GenMark’sePlex systems will help Roche manage infectious diseases and antibiotic resistance.
- Zydus Lifesciences launched a Bempedoic Acid drug under the Bemdac brand in May 2022 for the treatment of high levels of bad cholesterol.
- Esperion received FDA approval in February 2020 for Nexlizet (bempedoic acid-ezetimibe), a cholesterol-lowering combination, to lower LDL cholesterol in patients with high cholesterol or established atherosclerotic cardiovascular disease who have reached maximum-tolerated statin therapy.
Key Companies Profiled
- Roche Diagnostics
- PTS Diagnostics
- Omron Healthcare, Inc
- ACON Laboratories, Inc.,
- AccuTech, LLC
- Alere Inc.
- Siemens
- Medline Industries, Inc.
- Abaxis, Inc.
- ManthaMed
- Fisher Scientific
Key Segments Covered in the Cholesterol Monitors Industry Survey
By Product Type:
- Single-sided COD Chip-On-Flex
- Other Chip-On-Flex Types
By End Users:
- Military
- Medical
- Aerospace
- Electronics
- Other Verticals
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