Cholesterol Monitors Market Worth USD 2,514.6 million in 2022 | CAGR 7.4% – By FMI

Cholesterol Monitors Market (2022-2032)

In 2022, it is anticipated that the cholesterol monitors market is valued US$ 2,514.6 million. The cholesterol monitors market is expected to expand at a 7.4% CAGR from 2022 to 2032 and is likely generate US$ 4,502.4 million.

Rising rates of obesity and an aging population in developed nations like the U.S., Germany, and France have increased the cases of patients with high levels of bad cholesterol, necessitating a daily rise in the need for cholesterol monitoring kits worldwide.
The global market for cholesterol monitors is likely to expand due to the rising popularity of non-invasive technologies for cholesterol monitoring.

Statistical Estimation in the Global Cholesterol Monitors Market

• A significant factor driving the increase in demand for cholesterol monitor kits is the aging population. The population division of the Department of Economic and Social Affairs projects that by 2050, there is likely to be 21.1% more people in the world who are 60 years of age or older than there were in 1990 (9.2% to 11.7%).
• According to data from the United Health Foundation from 2017, 12.5% of adults 60 and older had elevated total cholesterol. Such a high prevalence is anticipated to fuel cholesterol monitors market expansion in the near future.
• Since high cholesterol has no symptoms, comprehensive cholesterol testing is required. These tests evaluate the levels of triglycerides, high-density lipoprotein (HDL), low-density lipoprotein (LDL), and total cholesterol in the blood. Measurements of blood cholesterol help to reduce the risk of peripheral artery disease, heart attack, and stroke.
• Cholesterol levels should be tested if a person has been diagnosed with a stroke, PAD, coronary heart disease, family history of early CVD, overweight, diabetes, cholesterol-related condition, or high blood pressure. As per the Centers for Disease Control and Prevention, 1 in 6 adults (16.3%) of the population has high cholesterol (which is defined as 240 mg/dL or higher).

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What are the Factors Propelling the Global Cholesterol Monitors Market?

The increasing prevalence of cardiovascular disorders, coupled with a growing emphasis on early diagnosis and miniaturization of cholesterol monitors, is expected to drive the growth of the global cholesterol monitor market. The preference for self-monitoring to enhance quality of life and lead a healthy lifestyle is another factor driving the expansion of the global market for cholesterol monitors.

Additionally, the market is likely to expand due to the increased focus on reducing the burden of cardiovascular diseases (CVDs) around the world, as well as initiatives for preventive healthcare practices like screening and health check-up programs.

The development of the global cholesterol monitor market is also aided by governmental changes that provide state-of-the-art healthcare facilities and awareness campaigns that are likely to raise the standard of testing.

What are the Factors Hampering the Global Cholesterol Monitors Market?

The dearth of awareness regarding health benefits linked with lipid testing for food and beverages in emerging economies such as Bangladesh, Africa, and Afghanistan is likely to restrict the market growth throughout the forecast period.

Additionally, major factors preventing the market growth of cholesterol monitors are the lack of healthcare resources, an under trained workforce, strict safety regulations, and a lack of food safety infrastructure in the northern regions of Asia Pacific and the north and middle of Africa.

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Why is North America Emerging as an Opportunistic Cholesterol Monitors Market?

North America dominates the global cholesterol monitors market, accounting for nearly 35% in 2022. This market growth is primarily due to the rise in the incidence of CVDs, coupled with the rapidly aging population, high preference for self-monitoring devices, and increased awareness related to prevention and early diagnosis of the diseases in the region.

According to the Centers for Disease Control and Prevention, nearly 1 in 2 Americans have high cholesterol i.e., nearly 38% of American adults have high cholesterol (total blood cholesterol ≥ 200 mg/dL).1 Too much cholesterol puts you at risk for heart disease and stroke, two leading causes of death in the United States.

Owing to the increased risk of high cholesterol and its asymptomatic nature, the need for cholesterol monitors is burgeoning incessantly in the region. Additionally, the prevalence of heart diseases and obesity in the region is a major concern.

The United Health Foundation’s annual report revealed that the obesity rate increased from 31.5% in 2021 to 30.4% in 2020 in the United States. This, in turn, the mounting preference for preventive healthcare is also anticipated to drive regional growth. Rising awareness and initiatives from the government and several healthcare organizations are expected to propel market growth.

Why is the Demand for Cholesterol Monitors Burgeoning in Europe?

Europe is the second-largest region, with the accountability for nearly 26% cholesterol monitors market share in 2022. The region is likely to maintain its projected growth over the forecast period, reveals Future Market Insights.

Moreover, weight problems and obesity are snowballing at a rapid rate across the EU, with estimates of nearly 53% of the adult EU populace overweight in 2020. Obesity significantly increases the risk of chronic diseases, such as cardiovascular disease, type-2 diabetes, and hypertension. Along with this, it is a major cause of rising cases of bad cholesterol in the Europe region.

According to the World Health Organization, nearly 54% of men and women in Europe, the highest percentage for any region of the world, are affected by ‘bad’ cholesterol. Besides, approximately 133.3 million people in the five largest states (Germany, France, Italy, Spain, and the UK) are suffering from high levels of bad cholesterol.

Thereby, the government in several countries is making efforts to increase the testing and make certain guidelines to direct the people towards awareness of bad cholesterol. Prominent manufacturers of cholesterol monitors are developing novel technologies and innovative testing kits to make cholesterol level testing easier and cheaper. Owing to the aforementioned factors, the region is offering a pool of growth prospects to the key players.

How Start-ups are Adding Value to the Global Cholesterol Monitors Market?

The swelling dispersion of start-ups in the cholesterol monitors market has improved the product quality and increased global sales. Besides, to gain a competitive edge, new start-ups are working on novel developments and launching new products, such as

• In March 2021, Ro scored a hefty US$ 500 Million Series D round led by existing investors General Catalyst, FirstMark Capital, and TQ Ventures. The company has raised $876 million since its founding in 2017.

Kit diagnostic tests for patients directly through Ro’s platform, providing the objective health data necessary to inform high-quality care for a range of health conditions, such as:

• Sexual health
• Cholesterol
• Hypertension
• Diabetes.

• NuGenomics-a start-up launched in July 2021, uses patented technology to prognosis, prevent, diagnose, and cure lifestyle disorders by providing health-oriented data, insights, and actionable suggestions made by its AI/ML system as opposed to a nutritionist.

The startup’s product offerings include Genetic Test Report, which is priced at Rs 8,999, and it helps people understand their predispositions towards cholesterol, HDL, LDL, Triglyceride, and Blood Sugar levels, along with several other conditions, to help their existing trainers and nutritionists.

Who are the Key Players in the Global Cholesterol Monitors Market?

Key players have entered into merger agreements to expand their portfolios and provide effective services which can assist in managing infectious diseases and uncontrollable levels of cholesterol.

• In May 2021, Roche and GenMark Diagnostics entered into a merger agreement in which Roche fully acquired GenMark for $1.8 billion. Through the acquisition, Roche aims to expand its portfolio of molecular diagnostics with GenMark’s expertise in syndromic testing. The companies believe that GenMark’sePlex systems enhance Roche’s work in managing infectious diseases and antibiotic resistance.
• In May 2022, Zydus Lifesciences launched a Bempedoic Acid drug under the Bemdac brand for the treatment of uncontrolled levels of bad cholesterol.
• In February 2020, Esperion received approval from the FDA for its cholesterol-lowering combo-Nexlizet (bempedoic acid-ezetimibe) to lower LDL cholesterol in patients with high cholesterol or established atherosclerotic cardiovascular disease who has reached maximum-tolerated statin therapy.

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Key Players

• Roche Diagnostics
• PTS Diagnostics
• Omron Healthcare, Inc.
• ACON Laboratories, Inc.
• AccuTech
• LLC
• Alere Inc.
• Siemens
• Medline Industries, Inc.
• Abaxis, Inc.
• ManthaMed
• Fisher Scientific

Scope of reports
Growth Rate

CAGR of 7.4% from 2022 to 2032

Market Value in 2022

US$ 2,514.6 Million

Market Value in 2032

US$ 5,502.4 Million

Base Year for Estimation

2021

Forecast Period

2022-2032

Quantitative Units

Revenue in US$ Million, and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis

Segments Covered

• Product Type
• End User
• Region
  Regions Covered
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Key Countries Profiled

• U.S
• Canada
• Brazil
• Mexico
• Germany
• U.K
• France
• Spain
• Italy
• China
• Japan
• South Korea
• Malaysia
• Singapore
• Australia
• New Zealand
• GCC
• South Africa
• Turkey

Key Companies Profiled

• Roche Diagnostics
• PTS Diagnostics
• Omron Healthcare, Inc
• ACON Laboratories, Inc.,
• AccuTech, LLC
• Alere Inc.
• Siemens
• Medline Industries, Inc.
• Abaxis, Inc.
• ManthaMed
• Fisher Scientific

Key Segments Covered in the Cholesterol Monitors Industry Survey

By Product Type:

• Single-sided COD Chip-On-Flex
• Other Chip-On-Flex Types

By End Users:

• Military
• Medical
• Aerospace
• Electronics
• Other Verticals

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Japan
• Middle East and Africa

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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