Microcatheters Market Assessment, By Product [Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, Steerable Microcatheter], By Application [Cardiovascular, Neurovascular, Peripheral Vascular, Urology, Oncology, Others], By Design [

Microcatheters Market Assessment, By Product [Delivery Microcatheter, Aspiration Microcatheter, Diagnostic Microcatheter, Steerable Microcatheter], By Application [Cardiovascular, Neurovascular, Peripheral Vascular, Urology, Oncology, Others], By Design [Single Lumen Microcatheter, Dual Lumen Microcatheter], By End-user [Hospitals, Clinics, Ambulatory Surgical Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Global endocrine testing market is projected to witness a CAGR of 8.17% during the forecast period 2024-2031, growing from USD 13.03 billion in 2023 to USD 24.42 billion in 2031. The market’s growth is supported by the rising incidences of endocrine disorders, increasing awareness about preventive healthcare, and growing product launches by market players with enhanced features and patient convenience. In August 2023, the US Food and Drug Administration (FDA) listed the Mira Fertility Ovum Wand as an over-the-counter tool for tracking follicle-stimulating hormone (FSH) levels in urine. The wand can provide lab-accurate FSH levels for assessing fertility, predicting menopause, and supporting ovulation predictions.

Endocrine testing is essential for identifying abnormalities and imbalances in the endocrine system and assessing hormone levels for management and early detection of health conditions such as reproductive issues, diabetes, and thyroid disorders. Increasing investments by the healthcare sector to bolster the accessibility and affordability of these tests are expected to influence the market’s expansion positively.

Furthermore, the rising awareness among the general population about endocrine disorders and the increasing efforts by various healthcare organizations to boost the accessibility of endocrine testing are providing lucrative growth opportunities to the market. Several healthcare organizations and government institutions are increasingly focusing on regular checkups for population groups that are at a higher risk of developing diabetes and thyroid disorders. Meanwhile, the general population is seeking regular health checkups to identify potential health issues on time due to increasing health consciousness. Additionally, the shift towards preventive healthcare is also propelling the demand for endocrine testing in various regions across the globe.

Increasing Prevalence of Endocrine Disorders Boosts Market Demand

Factors such as environmental influence, lifestyle changes, and genetic predisposition contribute significantly to endocrine disorders. These disorders also occur if the body cannot respond to hormones as it is supposed to. According to a National Center for Biotechnology Information (NCBI) study, the prevalence of endocrine disorders in adults in the United States is at least 5%. The rising cases of endocrine disorders are thus bolstering the reliance on endocrine testing to detect hormonal abnormalities and identify diseases.

The increasing incidences of hypothyroidism and diabetes, coupled with the increasing awareness about such conditions, is another major factor boosting the global endocrine testing market size.

Additionally, environmental factors and evolving lifestyles are also propelling the prevalence of endocrine disorders. Rising exposure to endocrine-disrupting chemicals, poor diet, stress, and sedentary habits have also been linked with the growing incidences of endocrine diseases. Endocrine-disrupting chemicals are usually found in a wide range of products, from pesticides to plastics, and have been shown to interfere with optimal hormone functioning, resulting in conditions such as reproductive health issues and thyroid imbalance.

Development of Novel Technologies Supports Market Expansion

The development of novel products and technologies plays a vital role in expanding the global endocrine testing market. Advancements in monitoring and diagnostics allow the development of endocrine testing solutions that deliver more reliable and faster results, allowing healthcare professionals to diagnose complex hormonal issues effectively. The growing demand for efficient, accessible, and patient-friendly testing solutions is thus propelling the growth of the endocrine testing market. Healthcare companies and startups across the globe are actively working on launching newer endocrine testing devices.

In July 2023, Mylab Discovery Solutions Pvt. Ltd., a Pune-based biotech startup, launched the Mybox+ diagnostic device with a broad range of tests, including biomarker (CRP, D-Dimer), cardiac marker (Troponin), and thyroid panel (T-3, T-4, TSH). Introducing this solution and the Dry Luminescence technology shows a transformative step in diagnostics and empowers clinics and labs by allowing them to provide a wide range of tests, thus aiding them in improving patient care. This technology offers a game-changing solution for clinics and small laboratories that have previously faced limitations in performing various tests and had to rely on larger facilities, often resulting in increased costs and delayed results. Thus, developing novel technologies improves patient convenience and positively influences the expansion of the endocrine testing market.

Thyroid Stimulating Hormone (TSH) Test Accounts for Significant Market Share

The growth of the segment is supported by increasing awareness about the importance of early detection of thyroid disorders and the rising prevalence of such conditions. According to the estimates of the American Thyroid Association, approximately 20 million Americans have some type of thyroid disease. Thyroid testing focuses on checking T3, T4, and TSH levels. It is one of the most performed endocrine tests across the globe as the incidences of hyperthyroidism and hypothyroidism increase. The growing efforts by the leading market players to ensure the availability of accurate and user-friendly testing devices and home-use testing kits are also expected to bolster the segment’s expansion and provide lucrative growth opportunities to the global endocrine testing market.

Additionally, the increasing integration of TSH tests in preventive healthcare practices, particularly in population groups that are at high risk or have a history of thyroid disorders, is also propelling the segment's growth. Early detection can aid healthcare providers in preventing the occurrence of serious complications, including fertility issues, metabolic problems, and cardiovascular diseases. Furthermore, a rising number of healthcare professionals are advocating regular TSH testing for patients showing non-specific symptoms such as weight changes, fatigue, and depression, further bolstering the test’s demand.

North America Holds Major Market Share

The rapid expansion of the market in the region can be attributed to the expansion of the population, growth of the healthcare sector, introduction of proactive government measures and policies, increasing the burden of different diseases, and rising awareness among the patient population. The strong presence of leading market players and the easy availability of healthcare services are also positively influencing the market’s expansion.

The rising cases of endocrine-related diseases such as thyroid cancer are also bolstering the market demand in North America. According to the estimates of the American Cancer Society, approximately 44,020 new cases of thyroid cancer are expected to be reported in the United States in 2024. Additionally, the presence of various organizations that monitor and screen thyroid dysfunction and are devoted to thyroid biology and prevention and treatment of various thyroid diseases also provides lucrative growth opportunities to the market.

Furthermore, the rising cases of diabetes and the increasing requirement for insulin testing are also expected to bolster the market’s demand. As per the estimates of the Centers for Disease Control and Prevention, approximately 38 million individuals in the United States have diabetes.

Future Market Scenario (2024-2031F)

As per the global endocrine testing market analysis, the demand is expected to be driven by increasing emphasis on preventive healthcare, rapid advancements in diagnostic technologies, and increasing incidences of endocrine disorders. Additionally, the rising requirement for point-of-care testing and increasing integration of machine learning and artificial intelligence in diagnostics is expected to drive innovation and propel the global endocrine testing market growth. The increasing prevalence of various endocrine disorders, including thyroid disorders and diabetes, in combination with supportive reimbursement policies, is expected to drive the global endocrine testing market demand. As per the estimates by the International Diabetes Federation (IDF), approximately 783 million individuals across the globe will be living with diabetes by 2045.

Additionally, the rapid expansion of the population and increasing burden on the healthcare sector are also expected to provide lucrative growth opportunities for the market. Endocrine testing is usually deployed in cases where doctors suspect that the patient might have an endocrine disorder or receive abnormal results for other function studies. The blood tests aid in confirming or eliminating suspicions and allow the identification of the root cause of the problem.

Key Players Landscape and Outlook

Various healthcare companies across the globe are actively working on delivering testing solutions that provide rapid and precise results. These companies are also actively working to raise funding to advance endocrine testing technologies. In April 2023, Eli Health raised USD 3.6 million to advance women’s health with the help of saliva-based hormone monitoring technology. Hormone fluctuations affect a wide range of conditions, and women experience symptoms through puberty and post-menopause. Despite the accessibility of at-home hormone urine tests, the only options available outside of fertility are not appropriate for long-term and high-frequency testing due to high waiting time and costs. Thus, Eli Health is working on providing real-time insights into hormone levels with the help of saliva testing that can be tracked over time, unlike the traditional tests or methods that can only provide an isolated snapshot of hormone levels.

Similarly, in May 2022, a Berlin-based startup raised approximately USD 10.13 million (€9.3 million) in funding to expand their hormone tracking technology. Their biosensor mini lab allows women to discover their progesterone levels regularly by performing a saliva test. Such funding is expected to aid healthcare companies in bridging the gaps in women’s health.