Endocrinology is a branch of medical science which studies the disorders and medicines pertaining to the hormonal secretions associated with the human endocrine system. Proactive role adopted by government healthcare agencies in establishing a point of care and diagnostic centers to perform early screening of hormonal imbalance associated with lifestyle disorders has increased the traction for endocrinology hormone reagents worldwide. Lack of nutrition in daily food intake accompanied by stress is associated with endocrine hormonal imbalance in human beings across the globe.
The thyroid-stimulating hormone (TSH) test is spearheading the test type segment for the endocrinology hormone reagents market. The rising prevalence of thyroid disorder worldwide determines its market growth. As per the latest research citings provided by the National Institute of Health (NIH), the prevalence rate of hyperthyroidism is 2.5% in the female population and 0.6% in the male population worldwide. The insulin test will be recording exemplary market performance during the forecast period primarily due to the rising prevalence of type 2 diabetes worldwide. According to the recent statistics provided by the International Diabetes Federation (IDF) in 2019, it is estimated that 463 million people worldwide were reported to be suffering from diabetes.
Diagnostic centers are currently leading the end-user segment for the endocrinology hormone reagents market. Growing incidence of hypothyroidism and cardiovascular complications has resulted in early diagnosis and treatment of chronic lifestyle disorders which occur due to endocrine hormone imbalance in human beings worldwide together drive the market growth. Academic research institutes are expected to register excellent market growth owing to the increasing demand for biomolecules for the treatment of cancer and other chronic lifestyle disorders, thereby increasing the demand for endocrinology hormone reagents market.
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North America is presently dominating the geography segment for the endocrinology hormone reagents market. Increasing public health awareness resulting in early diagnosis and screening for endocrine diseases and nurturing regulatory environment provided by the USFDA for the sale and distribution of endocrinology hormone reagents together determine the market growth in the region. Europe is placed in the second position on account of the existence of major players such as bioMerieux SA., Roche Diagnostics., Agilent Technologies, Inc., etc. propel the market growth in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment for the endocrinology hormone reagents market. Developing healthcare infrastructure and a significant increase in the number of government-funded diagnostic centers will determine the market growth in the region.
Biopharmaceutical reagents manufacturers actively engaged in the production of endocrinology hormone reagents are Abbott Laboratories, Inc., Agilent Technologies, Inc., Quest Diagnostics, bioMerieux SA., Bio Rad Laboratories, Inc., LabCorp., DiaSorin (American Standard Companies), Meridian Life Science, Inc., Thermo Fisher Scientific, and Roche Diagnostics.
Key Market Movements:
Rising prevalence of chronic lifestyle disorders worldwide
Increasing public health awareness resulting in early diagnosis and screening for endocrine diseases worldwide
Nurturing regulatory environment for the sale and distribution of endocrinology hormone reagents further accentuates the market growth