Ferritin Testing Market Forecast and Analysis 2031

Ferritin Testing Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Indication (Anemia, Hemochromatosis, Pregnancy, and Lead Poisoning) and End User (Hospitals, Diagnostic Laboratories, and Specialty Clinics), and Geography

  • Report Code : TIPRE00008620
  • Category : Pharmaceuticals
  • No. of Pages : 150

Ferritin Testing Market Forecast (2024-2031), Size, Share

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The Ferritin testing market size in 2021 stood at US$ 405.24 million and is projected to reach US$ 670.74 million by 2031 from US$ XX billion in 2023. The market is expected to register a CAGR of 5.3% in 2023–2031. Availability of advanced technologies such as the integration of AI and ML are likely to remain key ferritin testing market trends.

Ferritin Testing Market Analysis

The growing iron deficiency disorders and the increasing burden of anemia in youngsters is one of the major driving factors for the ferritin testing market growth. Moreover, the high prevalence of blood disorders in the geriatric population, combined with an expanding geriatric population, is likely to raise the global burden of blood disorders, boosting demand for ferritin test equipment and driving market growth.

Ferritin Testing Market Overview

Ferritin test determine the level of iron in the blood, which is further used in the diagnosis of iron deficiency. The rising prevalence of anemia, malnutrition, and aging population is driving the demand of ferritin testing. In anemia patient lacks the adequate quantity of red blood cells, to supply sufficient amount of oxygen to the body's tissue. The ferritin test detect total iron-binding capacity test, or blood cell counts and the iron level.

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Ferritin Testing Market: Strategic Insights

Ferritin Testing Market
  • CAGR
    CAGR (2023 - 2031)
    5.3%
  • Market Size 2021
    US$ 405.24 Million
  • Market Size 2031
    US$ 670.74 Million

Market Dynamics

GROWTH DRIVERS
  • Growing Burden of Iron Deficiency Disorders
  • Increasing Prevalence of Iron Deficiency in Aging Population
FUTURE TRENDS
  • Availability of Advanced Technologies
OPPORTUNITIES
  • Government Initiatives to Reduce Anemia Burden Worldwide

Key Players

  • Eurolyser Diagnostica GmbH
  • Cortez Diagnostics Inc
  • bioM rieux SA
  • Doctorcall
  • Aviva Systems Biology Corporation
  • Biopanda Reagents Ltd
  • Monobind Inc
  • Orgentec Diagnostika
  • Thermo Fisher Scientific Inc
  • Sekisui Diagnostic

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentIndication
  • Anemia
  • Hemochromatosis
  • Pregnancy
  • Lead Poisoning
Market SegmentEnd User
  • Hospitals
  • Diagnostic Laboratories
  • Specialty Clinics
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Ferritin Testing Market Drivers and Opportunities

Increasing Prevalence of Iron Deficiency in Aging Population to Favor Market Growth

The older population is likely to suffer more from iron deficiencies, such as anemia. The common causes of anemia in the old population are chronic disease and iron deficiency. Apart from this, Vitamin B12 deficiency, folate deficiency, and gastrointestinal bleeding also cause anemia in the old population. The chances of anemia prevalence increase with advancing age. As per the NCBI, anemia occurs in more than 10% of people over 65 age, and in more than 50% of individuals who are older than the age of 80. The geriatric population is increasing worldwide. For instance, according to OCHA, the global population aged 65 years or over is projected to rise by 6% in 2050. Thus, increasing prevalence of iron deficiency in the aged population is expected to boost the demand for ferritin testing..

Government Initiatives to Reduce Anemia Burden Worldwide

Anemia is one of the most serious global public health problems. As per the WHO, it affects over half of the pre-school children and pregnant women in developing countries and at least 30–40% in industrialized countries. In low-income countries, anemia is one of the major causes of deaths in children under five years and pregnant women. Reducing the burden of anemia would make a major contribution to reducing malnutrition globally. Many countries are running several programs to reduce the burden of anemia. For instance, Indian government is running several programs, including Integrated Child Development Scheme, National Nutritional Anemia Control Program, Weekly Iron and Folic Acid Supplementation, and National Iron Plus Initiative, to combat anemia. The Anemia Mukt Bharat is focusing on reducing anemia from 50% in 2016 to 32% by 2022 amongst pregnant women. Such initiatives increase awareness regarding iron deficiency and increase adoption of testing practices.

Ferritin Testing Market Report Segmentation Analysis

Key segments that contributed to the derivation of the ferritin testing market analysis are indication and end user.

  • Based on indication, the ferritin testing market is divided into anemia, hemochromatosis, pregnancy, and lead poisoning. Anemia segment held a largest market share in 2023.
  • In terms of end user, the market is segmented into hospitals, diagnostic laboratories, and specialty clinics. The hospitals segment dominated the market in 2023.

Ferritin Testing Market Share Analysis by Geography

The geographic scope of the ferritin testing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the ferritin testing market. The increasing aging population and its associated iron deficiency disorders and rapidly developing healthcare facilities across the region are factors contributing to the dominance of the North America ferritin testing market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Ferritin Testing Market Report Scope

Report Attribute Details
Market size in 2021 US$ 405.24 Million
Market Size by 2031 US$ 670.74 Million
Global CAGR (2023 - 2031) 5.3%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Indication
  • Anemia
  • Hemochromatosis
  • Pregnancy
  • Lead Poisoning
By End User
  • Hospitals
  • Diagnostic Laboratories
  • Specialty Clinics
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Eurolyser Diagnostica GmbH
  • Cortez Diagnostics Inc
  • bioM rieux SA
  • Doctorcall
  • Aviva Systems Biology Corporation
  • Biopanda Reagents Ltd
  • Monobind Inc
  • Orgentec Diagnostika
  • Thermo Fisher Scientific Inc
  • Sekisui Diagnostic
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Ferritin Testing Market News and Recent Developments

The ferritin testing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for ferritin testing:

  • WCBS will be implementing ferritin testing in all blood donors during the course of 2022. Iron deficiency is known to be a relatively common complication of regular blood donation, so this initiative hopes to identify these donors, advise them to seek medical attention and defer them from donating for a specified period of time. (Source: Western Cape Blood Service, Press Release, 2022)

Ferritin Testing Market Report Coverage and Deliverables

The “Ferritin Testing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Market dynamics such as drivers, restraints, and key opportunities
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
  • Detailed company profiles
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Indication and End User and Geography

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

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