Elevated Cholesterol Level among Population Propelled Cholesterol Meter Market
· A cholesterol meter offers point-of-care testing for rapid results and immediate treatment options. These devices are small, portable hand-held analyzers which measure total cholesterol, HDL cholesterol, and triglycerides. Also, these devices are a convenient and effective way to measure cholesterol level at home.
· Rise in level of cholesterol in blood among population, especially aged above 60, is a major factor for risk of stroke and heart diseases and accounts for a large number of deaths. Cholesterol testing allows early detection of problems related to high cholesterol levels, avoiding complications and increasing the survival chances of patients. As per the Centers for Disease Control and Prevention (CDC), in 2017, in the U.S., 95 million adults aged 20 or older had total cholesterol levels higher than 200 mg/dL and 7% of children and adolescents aged between 6 and 19 had high total cholesterol.
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Key Drivers and Restraints of Global Cholesterol Meter Market
· Rise in prevalence of cardiovascular diseases, obesity due to rise in cholesterol level is fueling the cholesterol meter market growth. Based on data published in CDC, in 2015, more than 71 million of population (33.5%) was suffering from high level of LDL (bad cholesterol) in the U.S. Moreover, cardiovascular disease (CVD), listed as the underlying cause of death, accounted for nearly 836,546 deaths in the U.S. in 2018. In Europe, cardiovascular disease is responsible for 38% of male and 37% of female deaths before the age of 75 as per data published in HEART UK. As high cholesterol level is directly linked with various cardiac diseases, rise in number of CVD cases fuels the cholesterol meter market growth.
· Increase in geriatric population is another cause of rise in demand for cholesterol testing products. The majority of cardiovascular disease cases and deaths occur in people aged 65 years and above. Based on data collected by the World health Organization, between 2015 and 2050, the proportion of the world's population over 60 years is estimated to nearly double from 12% to 22%. Increase in geriatric population and predominant western lifestyle which is also being adopted in developing countries, combine to produce higher levels of cholesterol in population and thus propelling the cholesterol meter market growth.
· However, inaccuracy of results delivered by these point-of-care cholesterol monitor meters still persists and making them less reliable and riskier. This factor acts as a major concern and may hamper the cholesterol meter market growth.
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Total Cholesterol to Witness High Demand
· Based on test type, the global cholesterol meter market can be segmented into Total Cholesterol, High-density Lipoprotein (HDL) Cholesterol, Low-density Lipoprotein (LDL) Cholesterol, Triglycerides, and Others
· Majorly, total cholesterol level is measured rather than performing HDL and LDL tests separately, as it measures LDL cholesterol, HDL cholesterol, and other lipid components as well. Based on the level of total cholesterol, doctors can also determine risk of heart diseases and patients can take precautions.
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Homecare Settings Segment to Witness Highest Growth
· Based on end-user, the global cholesterol meter market can be divided into: Hospitals, Ambulatory Surgical Centers, Home Care Settings, Diagnostic Centers, and Others
· Diagnostic centers dominated the total market in 2018 in terms of revenue due to rise in number of people being diagnosed with high total cholesterol. Moreover, routine health checkup without the doctors’ intervention is also a high impact-rendering driver for the segmental growth.
· The home care settings segment is anticipated to grow with the highest CAGR during the forecast period. This can be attributed to increase in focus on preventive care and early diagnosis to avoid serious disease conditions.
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North America to Dominate Global Cholesterol Meter Market
· In terms of region, the global cholesterol meter market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· North America dominated the global cholesterol meter market in 2018 and is expected to maintain the position during the forecast period. This is due to rise in prevalence of obesity and change in lifestyle. According to the United Health Foundation's annual report, a 5% increase in obesity rate has been reported among adults in the U.S. in 2018 (31.3%) from 2017 (29.9%). Along with this, rise in preference for preventive health care is also projected to drive the market in the region. Rise in awareness and investment from government and various organizations are expected to drive the cholesterol meter market in North America.
· However, increase in cardiovascular diseases along with rise in geriatric population is anticipated to drive the cholesterol meter market in Asia Pacific in the near future. Emerging markets such as China and India offer high growth potentials for companies involved in the manufacturing and distribution of cholesterol meter products.
Key Manufacturers Operating in Cholesterol Meter Market
The global cholesterol meter market was highly fragmented in 2018.
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