Technavio analysts forecast the global metabolic testing market to grow at a CAGR close to 8% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global metabolic testing market to grow at a CAGR close to 8% by 2022. (Graphic: Business Wire)
The increasing advances in technology is one of the major trends being witnessed in the global metabolic testing market 2018-2022. Technological advances in metabolic testing have led to the availability of equipment such as CPET systems, metabolic carts, ECG/EKG attachable to CPET systems, and metabolic testing software for accurate and reliable results
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According to Technavio analysts, one of the key factors contributing to the growth of the global metabolic testing market is the increasing number of fitness centers:
Global metabolic testing market: Rising incidence of lifestyle diseases
In recent years, there has been a rise in diseases related to a sedentary lifestyle. These include obesity, diabetes, and cardiac problems. For instance, according to the CDC, in the US, there is a high prevalence of diabetes. The harmful complications associated with diabetes are neuropathy, nephropathy, retinal damage, damage to vital organs, and risk of foot amputation.
According to a senior analyst at Technavio, "The metabolism in people with diabetes is different from that of others. In people with type 2 diabetes, the effectiveness of insulin is low, and people with type 1 diabetes, the secretion of insulin is very low or negligible. As a result, those with type 1 diabetes need to take insulin from an external source."
Global metabolic testing market: Segmentation analysis
The global metabolic testing market research report provides market segmentation by end-user (Hospitals, laboratories, and others), by end-user and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the hospitals held the largest market share in 2017, contributing close to 40% of the market. This end-user segment will dominate the global market throughout the forecast period owing to the increasing incidence of heart problems leading to the increased demand for ECG/EKG devices to monitor heart health.
The Americas held the largest share of the market in 2017, accounting for more than 43% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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