Cholesterol Management Devices Market Share, Growth and Trends Analysis By Types (Monitors, Wrist Monitors, Small Portable Instruments, Meters, Wireless Systems), By Application (Hypercholesterolemia, Hypocholesterolemia, Cholesterol Testing), By End Users (Home Healthcare, Hospitals, And Clinics) - Global Forecast Till 2023
Test Strip Market Highlights
The Global cholesterol management devices market research analysis by mrfr and projected to grow at a CAGR of 8.5% during the forecasted period 2017-2023. Cholesterol management devices are the monitoring devices for the determination of the cholesterol levels in the body. Cholesterol is one of the vital constituents of the cells. However, increase in the cholesterol level may lead to atherosclerosis, cardiovascular diseases, heart attack, and other diseases.
The global cholesterol management devices market is driven by rapid development in the cholesterol monitoring devices, and increasing people suffering from obesity. Moreover, affordability of the devices, poor diet and less physical activity, desk-bound nature of work, changing modes of transportation, and increasing urbanization have also contributed to the growth of the market. However, lack of awareness among the people may obstruct the growth of the market.
Cholesterol Management Devices Market Regional Analysis
Geographically, the global cholesterol management devices market is categorized into America, Europe, Asia Pacific and the Middle East & Africa.
America accounts for the largest share of the global market followed by Europe. The presence of a huge population suffering from obesity and hypercholesterolemia has driven the growth of the market in America. While, the government support for research and development, well-developed technology, and higher healthcare expenditure have uplifted the growth of the market in Europe and expected to continue over the forecast period. Asia Pacific experiencing the fastest growth in the market owing to the presence of rapidly growing economies, and a large population base. The Middle East & Africa has the least share in the global market due to the presence of poor infrastructure and less developments in the healthcare sector especially, in the African region.
Currently, the global cholesterol management devices market is experiencing extreme competition due to leading companies are focusing on the development of new and advanced monitoring devices to overcome the disadvantages of other available devices. Some of the market players are responding to these new opportunities by expanding their global presence and service offerings/product lines.
Abbott, headquartered in the US, is one of the leading healthcare company. The company manufactures, ARCHITECT, which is a clinical chemistry analyzer provides the excellent first-time results. The company performs several tests for high-density lipoprotein (HOL), low-density lipoprotein (LDL), and triglycerides.
Medtronic, headquartered in the UK, is the world's largest medical devices manufacturer. Till now, the company has launched several portable monitoring devices used in the hospitals. In 2015, the company acquired Covidien.
Test Strip Market Key Players
Some of the key player in the cholesterol management devices industry are Boston Scientific Corporation (US), Medtronic (US), St. Jude Medical, LLC. (Canada), Koninklijke Philips N.V. (US), Roche Diagnostics (US), Abbott (US), Alere (US), Sorin Group (Italy), BIOTRONIK SE & Co. KG (Germany), Bio-AMD (UK) and others.
Cholesterol Management Devices Market Segmentation:
The global cholesterol management devices market is segmented based on types, applications, and end users. Based on types, the market is classified into monitors, wrist monitors, small portable instruments, meters, wireless systems, and others. On the basis of applications, the market is categorized into hypercholesterolemia, hypocholesterolemia, cholesterol testing, and others. Based on end users, the market is segmented into home healthcare, hospitals, clinics, and others.
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