The Global Addison Disease Testing Industry is on track for significant expansion, according to the latest report from Future Market Insights (FMI). The market is projected to reach a revenue of US$249.8 million in 2023 and is expected to grow at a steady Compound Annual Growth Rate (CAGR) of 3.4%, reaching a substantial valuation of US$349.7 million by the year 2033.
The surge in demand for Addison Disease Testing is primarily attributed to the widespread adoption of emergency cards and a concurrent increase in global healthcare expenditure. As healthcare systems worldwide prioritize early detection and intervention, the demand for accurate and efficient testing services for Addison’s Disease is experiencing an unprecedented upswing.
Delaying the diagnosis and treatment of Addison’s Disease poses significant risks, including heightened chances of morbidity and mortality. Recognizing the critical importance of timely testing, the Global Addison Disease Testing Industry is playing a pivotal role in ensuring early identification and management of this rare disease.
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Global Addison Disease Testing Industry: Drivers & Restraints
The increasing rate of adrenal insufficiency is also increasing cases of Addison’s disease and thus increasing the testing service market.
Increasing government initiatives in improving the healthcare sector and providing access to a large population with diagnostic service facilities increases the market.
Furthermore, an increase in the number of private diagnostic service providers, will in turn increase the overall testing service market. The limitation of accessing healthcare facilities in various parts of the globe curbs the market to grow.
The ignorance of symptoms and lack of healthcare facilities for every segment of society also restricts the market.
Global Addison Disease Testing Industry: Overview
The average incidence rate of Addison’s disease is roughly three in 1 million population in the world and is considered one of the rare diseases, however, variation can be seen in different regions.
Recently, The Endocrine Society has also issued its first-ever clinical practice guideline on the diagnosis and treatment of primary adrenal insufficiency.
Huge competition in the market is due to the increased number of service providers. High efficiency and less price on the testing service are the factors for survival in the market.
Addison Disease Testing Industry: Region-wise Outlook
North America is owing to high concerns for human health and growing awareness with the benefit of government initiative in this direction, thus represents a largest market for the testing services.
This is followed by Europe because of higher prevalence rate and good diagnostic services available in the region.
Asia pacific is expected to be the highest growing market in the world because of higher risk factors of developing the disease as well as increasing healthcare and diagnostic services in the region.
Middle East and African region also have the opportunities for the testing service market but require investments in the sector.
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Global Addison Disease Testing Industry Treatment Market: Key Players
Some of the players in the Addison Disease Testing service market include Diagnostic Laboratory Services, Inc., Any Lab Test Now, Dr Lal PathLabs, Laboratory Corporation of America Holdings, Sonora Quest Laboratories, Core Diagnostics Private Limited, Ayumetrix, and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types of product,s and applications.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Addison Disease Testing Industry: Segmentation
Segmentation by Testing Type
- Laboratory Testing
- Comprehensive metabolic panel
- Thyroid-stimulating hormone (TSH) levels
- ACTH stimulation test
- Insulin-induced hypoglycemia test
- Autoantibody testing
- Prolactin testing
- Imaging Studies
- Chest radiograph
- Computed tomography (CT) scan
Segmentation by End User
- Hospitals
- Clinics
- Diagnostics Laboratories
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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