LONDON--(BUSINESS WIRE)--The global cholesterol testing devices market 2018-2022 is expected to post a CAGR of close to 7% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is a high incidence of CVDs. The disease burden of CVD in the European region is more than acquired immune deficiency syndrome (AIDS), tuberculosis, and malaria combined. Factors such as globalization, urbanization, diabetes, alcohol consumption, and tobacco consumption contribute to the rising number of CVD cases.
This market research report on the global cholesterol testing devices market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the launch of innovative products as one of the key emerging trends in the global cholesterol testing devices market.
Global cholesterol testing devices market: Launch of innovative products
Vendors in the market are offering products with improved features and manufacturing standards to create their mark in the market. Improved product features allow the retention of existing customers and also attracts prospective consumers. For instance, Piccolo Xpress by Abaxis is an analyzer, which provides real-time blood chemistry diagnostic information for patients and care providers. It is equipped with the universal bus ports (USB) located on the back of the analyzers. These ports are bi-directional and can be connected to the peripherals such as barcode scanner, computer printer, keyboard or electronic medical record (EMR) system/laboratory information system (LIS).
“The Piccolo Xpress analyzers can be used in a wide range of applications including home care, hospitals, and diagnostic applications. Such features contribute to the higher sales of the product, leading to an increased market growth,” says a senior analyst at Technavio for research on life science research tools.
Global cholesterol testing devices market: Segmentation analysis
This market research report segments the global cholesterol testing devices market by end-user (hospitals and home health care) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of around 40%, followed by APAC, and EMEA respectively. The region was led by the US, followed by Canada, and Brazil. Factors such as the high demand for cholesterol testing devices, significant investments in healthcare research in North America, and the incidence of CVDs drive the market growth in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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