According to our latest study on “Ferritin Testing MarketForecast to 2027 – COVID-19 Impact and Analysis – by Indication and End User,”the market was valued at US$ 372.05 million in 2019 and is projected to reachUS$ 556.19 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020to 2027. The report highlights the key factors driving the market growth andprominent players with their developments in the market.

Thermo Fisher Scientific Inc, and bioMérieux SA - NotableMarket Players in Ferritin Testing Market

Ferritin test measure the level of iron in the blood, andused in the diagnosis of iron deficiency. The increasing prevalence of anemia,aging population, and malnutrition is driving the demand of ferritin testingglobally. In anemia patient lacks the sufficient amount of red blood cells, tocarry adequate oxygen to the body's tissue. The ferritin testing help toidentify the iron level and total iron-binding capacity test, or blood cellcounts. The ferritin testing has the importance in an anemia testing and ironrelated the deficiency in the body.

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Based on end user, the ferritin testing market is segmentedinto hospitals, diagnostic laboratories, and specialty clinics. The hospitalssegment held the largest share of the market in 2019; whereas, the diagnosticlaboratories segment is anticipated to register the highest CAGR during theforecast period. Increasing number of hospital admissions coupled withincreasing prevalence of iron deficiency are projected to drive the growth ofthe hospital segment in the global ferritin testing market during the forecastperiod.

The increasing prevalence of anemia, aging population, andmalnutrition is driving the demand for ferritin testing globally to measure thelevel of iron in blood. In Europe, economies are severely affected due to theincrease in the number of COVID-19 cases. Spain, Italy, Germany, France, andthe UK are among the most affected European countries. Countries across Europeare witnessing a resurgence in COVID-19 cases after successfully mitigatingoutbreaks early in the year. Lockdowns are being reintroduced across Europe,and healthcare institutions are focusing in the management of COVID-19 cases.The rising number of cases and imposed restrictions are expected to negativelyimpact the market growth.

Market leaders operating in the market have undertakenvarious organic growth strategies in the ferritin testing market. The ferritintesting market majorly consists of the players Eurolyser Diagnostica GmbH,Cortez Diagnostics Inc., bioMérieux SA, Doctorcall, Aviva Systems BiologyCorporation, Biopanda Reagents Ltd, Monobind Inc., Orgentec Diagnostika, ThermoFisher Scientific, and Sekisui Diagnostic. The companies have been implementingvarious strategies that have helped the growth of the company and in turn havebrought about various changes in the market. The companies have utilizedorganic strategies such as launches, expansion, and product approvals.Moreover, the companies have utilized inorganic strategies including mergers& acquisitions, partnership, and collaborations.

Eurolyser Diagnostica GmbH, Cortez Diagnostics Inc.,bioMérieux SA, Doctorcall, Aviva Systems Biology Corporation, Biopanda ReagentsLtd, Monobind Inc., Orgentec Diagnostika, Thermo Fisher Scientific Inc, andSekisui Diagnostic are among the leading companies operating in the globalferritin testing market.

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