Market Size of Global Comprehensive Metabolic Panel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
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Comprehensive Metabolic Panel Market Analysis
The comprehensive metabolic panel market is expected to register a CAGR of 7.2% during the forecast period, 2021-2026. The market is majorly driven by the growing awareness among the population regarding early diagnosis and treatment of diseases and the increasing prevalence of chronic diseases. Also, advancements in point-of-care technologies and diagnostics are expected to boost the market growth over the coming years.
With the increase in COVID-19 patients, the testing has expanded across the globe, which has stimulated the rise in blood tests being performed, and health officials expect a significant increase in the number of COVID-19 patients. Therefore, as the prevalence of COVID-19 increases, the demand for blood testing also increases, which further boosts the overall market.
According to the International Diabetes Federation, in 2019, there were about 463 million adults found living with diabetes, which is expected to reach 700 million by 2045. The rising burden of diabetes and efforts of governments and other organizations to increase awareness among the population are anticipated to boost the market over the forecast period.
According to the Regents of the University of California in 2018, there are nearly 750,000 patients per year in the United States alone, and the disease disproportionately affects the nation's minority and low-income patients. The estimates have also reported that there are around 2 million people worldwide suffering from end-stage renal disease (ESRD), and the number of patients diagnosed with the disease continues to increase at a rate of 5-7% per year. Countries such as Taiwan, Japan, Mexico, the United States, and Belgium currently have the highest prevalence of ESRD. Therefore, the increase in the prevalence of chronic diseases such as kidney diseases, diabetes, and liver diseases and emphasis of people on early diagnosis of these diseases are the factors responsible for the growth of the comprehensive metabolic panel (CMP) market.
The rise in demand for point-of-care testing for early detection and faster results by these tests are some other factors responsible for the growth of the market.
