BURNABY, Canada, December 17, 2015 /PRNewswire/ --
Growing consumer awareness coupled with increasing prevalence of cholesterol related diseases to drive United States lipid panel testing market through 2020
According to recently published Pharmaion report, "United States Lipid Panel Testing Market Opportunities, 2010 - 2020", the lipid panel test market in the United States is anticipated to cross the US$ 6 billion mark by 2019. A wide array of factors anticipated to influence the growth of lipid panel testing market in the US during forecast period include high incidence rate of cardiovascular diseases, growing aging population, rising prevalence of chronic diseases and favorable reimbursement policies. Moreover, increasing automation in laboratories leading to higher sensitivity and faster test results is forecast to further fuel the market of lipid panel testing in the United States during 2015 - 2020.
On the basis of services offered, the market has been segmented into two broad categories, namely, Lipid Panel Testing Services and Lipid Panel Testing Devices. Among these categories, lipid panel testing services segment dominated the United States lipid panel testing market in 2014. The segment is anticipated to continue its dominance during forecast period as well on account of the implementation of Affordable Care Act, in 2010. Under this act, cholesterol screenings and treatments were made mandatory for all the citizens of the United States. The largest market share in the United States lipid panel testing market was captured by the country's South region, followed by the West, Midwest and Northeast regions.
"Growing number of initiatives by the government and non-government organizations is resulting in increasing awareness about cardiovascular diseases. In 2011, Centers for Disease Control and Prevention (CDC) launched an initiative named as "The Million Hearts" with an aim to prevent 1 million heart attacks and strokes by 2017. In 2015, an awareness steering committee was set up by The National Forum for Heart Disease & Stroke Prevention, a non-profit organization, which is involved in spreading awareness regarding cholesterol related diseases across the US. All these factors are expected to have a positive impact on the country's lipid panel testing market through 2020." said Mr. Karan Chechi, Research Director, with Pharmaion Consultants, a research based global pharmaceutical and healthcare consulting firm.
"United States Lipid Panel Testing Market Opportunities, 2010 - 2020" has evaluated the future growth potential of the United States lipid panel testing market and provides statistics and information on market structure, industry behavior and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the United States lipid panel testing market.
Pharmaion is a research based management consulting firm focused exclusively on Healthcare & Pharmaceutical industry. Led by a team of dynamic industry experts, Pharmaion provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, Pharmaion's clients lead rather than follow market trends. Pharmaion has developed a proprietary database which focuses on identifying the unexplored opportunities in Healthcare and Pharmaceutical industry.
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