LOS ANGELES, Oct. 09, 2019 (GLOBE NEWSWIRE) — The global is expected to grow at a CAGR of around 7.0% from 2019 to 2026 and reach the market value of over US$ 18,380 million by 2026.
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North America has driven the market in 2018, due to strong commercial performance of CMP diagnostics in the U.S. Some of the major contributors to market growth are high disease burden, rising consumer awareness, government initiatives, technological advances, and improvements in healthcare infrastructure. In addition, key player presence is projected to bode well for CMP testing demand. Increasing number of skill CMP testing provided in North America will attribute to implementation of professional skill test for rising operational efficiency, striation regulatory compliances for new entrance in the market. North America is also a major hub for industries like pharmaceuticals, food, water & environment, commercial drinks, cosmetics, and cannabis testing. A large number of laboratories are undertaking product testing across these industries in this region.
A comprehensive metabolic panel is a group of fourteen blood tests that doctors usually order during annual physical examinations to monitor for health issues. A CMP provides a rough overview of blood sugar levels, liver and kidney function, and acid/base fluid balance & electrolytes. Patients with high blood pressure or diabetes, as well as kidney and liver damage in patients taking certain medications such as acetaminophen, statins, opioids, and antibiotics, this test are also regularly used to monitor disease progression. Factors such as increased prevalence of chronic diseases and emphasis on early diagnosis and treatment will drive demand for CMP testing. One of the factors responsible for increasing the incidence of chronic diseases is the high prevalence of lifestyle-associated diseases such as obesity coupled with unhealthy eating habits, smoking prevalence, and lack of physical activity.
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In the past few years, kidney diseases held the prominent market share, fueled by a high prevalence of disease and maximum analytical utilization. Diabetes and high blood pressure are the two main causes of chronic kidney disease, responsible for up to two-thirds of cases. Diabetes occurs when your blood sugar is too high, causing damage to many organs, including kidneys, heart, and blood vessels, eyes, and nerves. High blood pressure or hypertension occurs when blood pressure on blood vessel walls increases. High blood pressure may be a leading cause of heart attacks, strokes, and chronic kidney disease if uncontrolled or poorly controlled. Chronic disease of the kidney can also cause high blood pressure.
The global comprehensive metabolic panel (CMP) testing market is highly competitive and consists of key major manufacturers. Some key market players include Sonic Healthcare, Quest Diagnostics, UNIPATH, Laboratory Corporation of America Holdings (LabCorp), Abbott, SYNLAB International GmbH and Others. Major players are focused on strategic initiatives such as product launches, fusions, development and acquisitions, licensing and co-development agreements, thus ensuring the competitiveness of this market.
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