According to the latest research by Future Market Insights, serum lactate testing market is expected to witness robust growth with 4-5% CAGR during the forecast period from 2021 to 2031. The serum lactate testing will show growth due to the rising prevalence of chronic disease like anaemia, diabetes, heart failure. And also globally and an increase in investment to healthcare system. Therefore, growth at a significantly high CAGR will be expected soon.
What is driving the Demand for Serum Lactate Testing?
Lactic acid in the blood is a fairly sensitive and reliable indicator of tissue hypo perfusion and hypoxia that is tested by serum lactate test. Diabetes, anaemia, heart failure due to shorting of oxygen and increasing lactic acid level in blood cause life threating condition. Increasing prevalence of this disease drive the demand of this market.
For Instances, As per 2020 reported by world health organization globally 1.6 Bn people is affected by anaemia, About 422 Mn people worldwide have diabetes and 1.6 Mn deaths are directly attributed to diabetes, Cardiac disorder is the leading cause of death worldwide.
Also, with increasing demand in the field of diagnosis, the major players and different countries made advances in their research and technology for making the process easy, painless and rapid. All these factors drive the serum lactate testing market significantly during the forecast period from 2021 to 2031.
COVID-19 Likely to Propel the Growth of Serum Lactate Testing Market
With the outbreak of COVID-19, the disease spread at a fast rate. Covid-19 cause respiratory disorder and other chronic disease occur. Covid -19 cause Oxygen deficiency lead to more lactic acid consumption in body that ultimately give birth to chronic diseases. The confirmed cases of COVID-19 reached 167,252,150 on 25th May 2021 in less than two years according to WHO. Therefore, it has been concluded that COVID-19 propels the serum lactate testing market during the forecast period.
The U.S. and Canada Serum Lactate Testing Market Outlook
U.S. and Canada will retain the top position in the market of serum lactate testing due to the rising technological adoption in the region and increasing awareness of chronic disease.
According to the Centres for Disease Control and Prevention (CDC), In the U.S. due to shortness of breath and oxygen more than 200,000 hospitalizations and 36,000 deaths every year. As per 2017 reported data by American heart association 2,353 deaths from cardiovascular each day. Rising awareness about cardia disorders and the great acceptance of newer technology by the American population is the major factor of dominance in this area.
Europe Demand Outlook for Serum Lactate Testing
Europe was hit badly by the corvid-19 pandemic in 2020. This makes them focus primarily on their healthcare sector and developing new technologies and adopting new devices for minimizing the discomfort of the population.
According to WHO, 54,147,639 confirmed cases of covid-19 was recorded till 25th May 2021in Europe. Covid-19 is causing serious respiratory problems and oxygen starving in body. Therefore, it is important to adopt such methods as serum lactate testing for early detection of chronic disease can act as lifesaving step. This will result in developing the serum lactate testing demand in Europe during the forecast period.
Who are the Key Manufacturers and Suppliers of Serum Lactate Testing?
Some of the leading manufacturers and suppliers of serum lactate testing include
- EKF Diagnostics
- Nova Biomedical
- Arkray, Inc.
- F. Hoffmann-La Roche Ltd
- Beckman Coulter, Inc.
- LifeSpan BioSciences, Inc
- Aviva Systems Biology Corporation
- Accurex Biomedical Pvt. Ltd.
- Thermo Fisher Scientific Inc
- PerkinElmer, Inc
- Quest Diagnostics Incorporated
- Abcam plc
- Anamol Laboratories Private Limited
- Randox Laboratories Ltd
- Sigma-Aldrich Co
- Merck KGaA
These companies followed certain strategies like a partnership, new product lunch and approval, merger and acquisitions to gain a good position in the market. For instance, In 2021, Merck did partnership with the Universities Indonesia (FMIPA-UI) to establish the first Collaboration Laboratory between the company and the university to develop new serum testing kits.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Serum Lactate Testing Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Note: Although care has been taken to maintain the highest levels of accuracy in FMI’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
By Test Type:
- Lactate Dehydrogenase (LDH)
- LDH isoenzyme blood test
- Lactic acid test
- Lactose tolerance tests
- Heart attack
- Congestive heart failure
- Respiratory failure
- Severe Anaemia Liver disease
- Kidney disease
By Sample Type:
- Cerebrospinal fluid
By End User:
- Home Care
- North America
- Latin America
- South Asia
- East Asia
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