Addison Disease Testing Market is anticipated to grow at a 3.4% CAGR and reach US$ 349.7 Million in valuation by 2033 | FMI

Posted on 2024-06-26 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Addison Disease Testing Market

The fight against Addison’s disease is getting a boost from a crucial tool: Addison Disease Testing Market. According to a recent Future Market Insights report, the global Addison disease testing market is poised for significant growth, reaching an estimated US$349.7 million by 2033. This translates to a Compound Annual Growth Rate (CAGR) of a healthy 3.4% from 2023.

Addison Disease Testing Market: Drivers & Restraints

The increasing rate of adrenal insufficiency is also increasing cases of Addison’s disease and thus increasing the testing service market. Increasing government initiatives in improving the healthcare sector and providing access to a large population with diagnostic service facilities increases the market. Furthermore, an increase in the number of private diagnostic service providers, will in turn increase the overall testing service market. The limitation of accessing healthcare facilities in various parts of the globe curbs the market to grow. The ignorance of symptoms and lack of healthcare facilities for every segment of society also restricts the market.

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Addison’s disease also called chronic adrenocortical insufficiency occurs because of the damage of the adrenal cortex resulting in insufficient production of the hormone cortisol & aldosterone. The disease is characterized by symptoms such as weight loss, decreased appetite, extreme fatigue, hyperpigmentation, low blood pressure, and several others. Not treating the disease for a long time results in an Addisonian crisis which is a life-threatening medical emergency. People suffering from anticoagulants, cancer, chronic infections, and tuberculosis are more likely to be affected by the disease. Doctors look for the medical history and do physical examinations as well as various laboratory tests for diagnosing the disease. Idiopathic autoimmune Addison’s disease is found to be more common in children, females, and in the people age group of 30-50 years. Delaying in diagnosis and treatment of the disease may lead to high chances of morbidity and mortality. Addison’s disease is considered a rare disease in many parts of the world. The testing service includes several laboratory as well as imaging studies.

Addison Disease Testing Market: Overview The average incidence rate of Addison disease is roughly three in 1 million population in the world and is considered as one of the rare diseases, however, variation can be seen in different regions. Recently, The Endocrine Society has also issued its first-ever clinical practice guideline on the diagnosis and treatment of primary adrenal insufficiency. Huge competition in the market is due to the increased number of service providers. High efficiency and lower prices on the testing service are the factors for survival in the market.

Addison Disease Testing Market: Region-wise Outlook

North America owing to high concerns for human health and growing awareness of the benefit of government initiatives in this direction, thus representing the largest market for testing services. This is followed by Europe because of the higher prevalence rate and good diagnostic services available in the region. Asia Pacific is expected to be the fastest-growing market in the world because the of higher risk factors of developing the disease as well as increasing healthcare and diagnostic services in the region. The Middle East and African region also have opportunities for the testing service market but require investments in the sector.

Addison Disease Testing Market: Key Players

Some of the players in the Addison Disease Testing service market include Diagnostic Laboratory Services, Inc., Any Lab Test Now, Dr. Lal PathLabs, Laboratory Corporation of America Holdings, Sonora Quest Laboratories, Core Diagnostics Private Limited, Ayumetrix, and others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types of products, and applications.

The report covers exhaust analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

The regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, UK, Spain)
Eastern Europe (Poland, Russia)
Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and 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.

Addison Disease Testing Market: Segmentation

Segmentation by Testing Type

Laboratory Testing
Comprehensive metabolic panel
Thyroid-stimulating hormone (TSH) levels
ACTH stimulation test
Insulin-induced hypoglycemia test
Autoantibody testing
Prolactin testing
Imaging Studies
Chest radiograph
Computed tomography (CT) scan

Segmentation by End User

Hospitals
Clinics
Diagnostics Laboratories

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Report Highlights:

Detailed overview of the parent market
Changing market dynamics in the industry
In-depth Polishing / Lapping Film 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.

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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