by The global Metabolic Testing Market is estimated to be valued at Us$ 641.62 Mn in 2023 and is expected to exhibit a CAGR Of 7.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Metabolic testing, also known as metabolic cart or indirect calorimetry, is a non-invasive medical testing method used to measure respiration and metabolic rate of patients during rest and exercise in both clinical and research settings. Metabolic cart indirectly measures the oxygen consumed (VO2), carbon dioxide produced (VCO2), and respiratory exchange ratio (RER) to calculate calorie expenditure and substrate utilization. It helps clinicians understand patient’s health and determine the intensity of physical activity or treatment. The tests are useful in diagnosing and treating conditions such as obesity, diabetes, cardiovascular and pulmonary diseases.
Market key trends:
Technological advancements are leading to more portable and automated metabolic cart solutions. Wearable metabolic testing devices are gaining popularity as they allow for continuous monitoring outside of clinical settings. Integration of artificial intelligence and machine learning capabilities is enabling predictive and prescriptive analytics. Growing popularity of telehealth and remote patient monitoring during COVID-19 has further boosted demand for home use metabolic testing solutions. Moreover, increasing lifestyle diseases, rising fitness consciousness and growing applications in sports medicine and clinical research are expected to drive the metabolic testing market during the forecast period.
Porter’s Analysis
Threat of new entrants: The metabolic testing market requires high investment for R&D, which poses a medium threat of new entrants.
Bargaining power of buyers: Buyers have medium bargaining power due to availability of substitutes and differentiated products from different brands.
Bargaining power of suppliers: Suppliers have low to medium bargaining power due to availability of substitutes and presence of many manufacturers.
Threat of new substitutes: Threat from new substitutes is medium as there are alternative testing methods available.
Competitive rivalry: The market exhibits high competitive rivalry due to presence of prominent manufacturers.
Key Takeaways
The Global Metabolic Testing Market Demand is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is estimated at US$ 641.62 Mn.
Regional analysis:
North America dominates the global metabolic testing market owing to increasing obese population and rising health awareness. Asia Pacific exhibits the fastest growth in the forecast period due to growing healthcare expenditure and improving access to healthcare facilities in emerging countries.
Key players:
Key players operating in the metabolic testing market are COSMED srl, Vyaire Medical, Inc., Geratherm Medical AG, MGC Diagnostics Corporation, CORTEX Biophysik GmbH, General Electric Company, Microlife Medical Home Solutions, Inc., OSI Systems, Inc., AEI Technologies, Inc., KORR Medical Technologies, Inc., Iworx Systems, GE Healthcare, Hologic, Inc, Geratherm Medical AG, and Parvo Medics.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
