Cellular Health Screening Market To Generate USD 5,512.8 Million Revenue by 2030
- Published: July 2023
The cellular health screening market size is expected to advance at a CAGR of 9.7% during 2023–2030, to reach USD 5,512.8 million by 2030. This can be ascribed to the increasing focus on healthy life expectancy, the rising healthcare expenditure, the surging prevalence of diseases, and the growing geriatric population.
Healthcare expenditure is increasing across the globe, owing to the surging prevalence of diseases and rising government and non-government initiatives. The increase in healthcare expenditure leads to the rise in affordability and accessibility of treatment and diagnosis for different medical conditions, which, in turn, drives the demand for cell health screening. Also, it is used for the development of novel drugs and in various pre-clinical studies.
Rising Geriatric Population Drives the Market
The increasing life expectancy and fall in birth rates are the major causes of the aging population. Elderly individuals require extensive care, as they are prone to diseases, owing to low immunity levels and high recovery time. Also, elderly people have less regenerative abilities and are more susceptible to chronic diseases and disorders such as cancer, neurological disorders, and cardiovascular diseases, thus leading to an increase in demand for early screening of cell health.
For instance, two-thirds of the world’s older persons live in emerging countries, where their numbers are rising faster than in developed countries. By 2050, it is expected that nearly 8 in 10 of the world’s older persons will be living in developing regions.
Moreover, due to the increasing population, the cases of several disorders related to lifestyle changes, such as excessive alcohol and tobacco consumption, obesity and diabetes, low physical activity, low fruit and vegetable intake, and high body mass index, are rising. This leads to the increasing demand for cell health screening for the early detection of such diseases in elderly people.
APAC Market To Witness the Fastest Growth
Globally, the APAC market is expected to grow at the highest CAGR, of 12%, in the coming years. This can be attributed to the developing healthcare infrastructure, the presence of a large patient pool, the growing focus among individuals on health, the surging adoption of tests to identify problems on time in order to get proper treatment, the increasing research & development activities on telomerase, the surging healthcare spending, the growing aging population, the increasing prevalence of critical conditions, and the rising government initiatives for disease prevention in the region.
In the APAC market, China holds a major share. This is attributed to the growing population, poor dietary habits, the increasing government spending on healthcare, and the launching of innovative cellular tests by various key players in the country.
The most-significant cellular health screening market players are Immundiagnostik AG, Quest Diagnostics, SpectraCell Laboratories Inc., Repeat Diagnostics, Cell Science Systems Corporation, Laboratory Corporation of America Holdings, and ANY LAB TEST NOW.