The ferritin testing market was valued at US$ 372.05 million in 2019 and is projected to reach US$ 556.19 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020 to 2027.

Growing burden of iron deficiency disorders and increasing prevalence of iron deficiency in aging population are among the major factors fueling the growth of this market. Moreover, government initiatives to reduce anemia worldwide is expected to foster the market growth during the forecast period. However, the availability of advanced technologies hinders the growth of the ferritin testing market. Additionally, the APAC countries are facing challenges due to the rising prevalence of COVID-19. The supply chain disruption, along with the enormous demand for effective therapies for the treatment of COVID-19, has put healthcare research industry in critical situation in APAC. The COVID-19 crisis is expected to increase micronutrient malnutrition, including anemia due to the disruption of health services with rising economic crisis affecting ongoing malnutrition programs, which is expected to negatively impact demand for ferritin testing during the forecast period.

The global ferritin testing market is segmented by indication and end user. Based on indication, the market is segmented into anemia, hemochromatosis, pregnancy, and lead poisoning. The anemia segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period. Based on end user, the ferritin testing market is segmented into hospitals, diagnostic laboratories, and specialty clinics. The hospitals segment held the largest share of the market in 2019; however, the diagnostic laboratories segment is anticipated to register the highest CAGR during the forecast period.

The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and the United Nations Children's Fund (UNICEF) are among the primary and secondary sources referred while formulating this report.