Blood Testing Market Research Report: By Test Type (Complete Blood Count, Blood Chemistry Tests, Enzyme Tests), Disease (Anemia, Infection, Leukemia,), Method (Manual, Automated), End-User (Hospitals, Diagnostic Center)- Forecast till 2027
ID: MRFR/LS/4341-HCR | February 2021 | Region: Global | 100 pages
Blood Testing Market
Blood Testing Market is expected to register a CAGR of 11.25 % and was valued at USD 140.2 Billion.
$140.2 Billion
Market Size
11.25%
CAGR
North America
Dominating Region
2020-2027
Forecast Period
Segmentation
Key Players
- Novartis Diagnostics (U.S.)
- Becton Dickinson & Company (U.S.)
- Biomerica
- Inc. (U.S.)
- Cepheid Corporation (U.S.)
- Meridian Bioscience
- Inc. (U.S.)
- Trinity Biotech (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- Siemens Healthcare (Germany)
- Grifols (Spain)
- Nanosphere Inc. (U.S.)
- bioMérieux (France)
- Roche Diagnostics (Switzerland)
- Alere Inc. (U.S.)
- Bruker Corporation (U.S.)
- Thermo Fisher Scientific Inc. (U.S.) Beckman Coulter (U.S.)
- Cardinal Health (U.S.)
- Danaher Corporation (U.S.)
- Trividia Health (U.S.).
Drivers
- The Demand for Point of Care Testing (POCT) devices for Blood Testing is on the rise.
Blood Testing Market Overview
As per the MRFR reports, the blood testing market is estimated to register a healthy CAGR of over 11.25% during the forecasted era from 2019 to 2027.
Blood testing refers to a laboratory examination technique performed based on the blood sample taken from the patient's body using syringes or finger prick to determine the state of health. The irregular functioning of organs can be defined by blood testing. These tests are reasonably priced and are usually conducted in clinics and hospitals as a crucial checkup for detecting any mild to severe ailments, which affect the growth of the blood testing market. The blood testing market has registered enormous growth in the past few years. The market's growth is mainly being driven by the influence of the aging population across the globe. The global market has recently experienced a massive increase in the number of strategic mergers & acquisitions, causing expansion of the market leader's product portfolio and strengthening their market presence.
Furthermore, factors such as expanding application of blood testing in other diagnostic areas and rise in incidences of various diseases such as bacterial and viral allergic disorders, thyroids, Human Immunodeficiency Virus (HIV) infection, genetic disorders, cancer, and hepatitis are also likely to boost the market performance over the forecasted era. On the other hand, the lack of awareness of the latest advancements, regulatory approval processes, and the high cost of automated blood testing will impede the market's growth over the coming years.
Figure 1: - Blood Testing Global Market Share, by Region
Segmentation
On the basis of disease, the Blood Testing market can be segmented into anemia, infection, leukemia, hypokalemia, kidney disorders, heart attack, coronary heart disease, and other diseases.
On the basis of method, the global Blood Testing market can be segmented into manual blood culture testing and automated blood culture testing.
On the basis of end-user, the global Blood Testing market is segmented into hospitals, clinics, diagnostic centers, research labs, and others.
Sources: Annual reports, Press release, White paper, and Company presentation
Regional Analysis
The Americas region accounted for the largest medical testing market share of the global Blood Testing market owing to the rising incidence of diseases such as kidney disorders, blood stream infections, other infections, high demand for rapid diagnostic tests, and growing aging population.
The European Blood Testing market is the second largest market owing to the increasing awareness of chronic infection diseases due to the initiatives undertaken by private companies, government organizations, and educational institutions.
The Asia Pacific region is expected to grow rapidly during the forecast period owing to the increasing awareness of the importance of diagnostics in personalized medicines and due to government initiatives, that promote the use of personalized medicines. Furthermore, the increase in a number of government schemes to curb the rising healthcare expenditures in emerging economies is expected to drive the regional market growth.
The Middle Eastern region is expected to grow at a steady pace owing to factors such as rising R&D activities in the healthcare sector and extensive development of the healthcare infrastructure.
Key Players
Some of the key players in the global Blood Testing market are Abbott Laboratories Inc. (U.S.), Baxter International (U.S.), Gen-Probe, Inc. (U.S.), Novartis Diagnostics (U.S.), Becton Dickinson & Company (U.S.), Biomerica, Inc. (U.S.), Cepheid Corporation (U.S.), Meridian Bioscience, Inc. (U.S.), Trinity Biotech (U.S.), Bio-Rad Laboratories Inc. (U.S.), Siemens Healthcare (Germany), Grifols (Spain), Nanosphere Inc. (U.S.), bioMérieux (France), Roche Diagnostics (Switzerland), Alere Inc. (U.S.), Bruker Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.) Beckman Coulter (U.S.), Cardinal Health (U.S.), Danaher Corporation (U.S.), Trividia Health (U.S.), and others.
Recent Developments
- February 2022- A developer of a wearable blood collection device, Tasso, has announced a partnership with Vault Health, a telehealth provider, to aid in performing diagnostic tests at home. Vault provides remote services such as COVID-19 testing and alcohol & drug screenings for employers. The company also offers logistics for decentralized clinical trials and sample collection and analysis.
- March 2022- An international healthcare solutions company targeting dry eye disease (DED), AXIM Biotechnologies, Inc, has announced that it has moved its concentration for its rapid COVID-19 Neutralizing Antibody (NAb) Test to be For Research Use Only ("RUO").
Intended Audience
- Blood Testing kit manufacturers and suppliers
- Blood Testing systems manufacturers and suppliers
- Biotechnology companies
- Government institutes
- Research and development companies
- Academic medical centers and universities
- Research and consulting firms
- Venture capital firms
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: Significant Value |
| CAGR | 11.25% (2020-2027) |
| Base Year | 2019 |
| Forecast Period | 2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Test Type, Disease, Method, End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Abbott Laboratories Inc. (U.S.), Baxter International (U.S.), Gen-Probe, Inc. (U.S.), Novartis Diagnostics (U.S.), Becton Dickinson & Company (U.S.), Biomerica, Inc. (U.S.), Cepheid Corporation (U.S.), Meridian Bioscience, Inc. (U.S.), Trinity Biotech (U.S.), Bio-Rad Laboratories Inc. (U.S.), Siemens Healthcare (Germany), Grifols (Spain), Nanosphere Inc. (U.S.), bioMérieux (France), Roche Diagnostics (Switzerland), Alere Inc. (U.S.), Bruker Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.) Beckman Coulter (U.S.), Cardinal Health (U.S.), Danaher Corporation (U.S.), Trividia Health (U.S.). |
| Key Market Opportunities | Improving economic conditions and rising healthcare expenditure are adding market growth. |
| Key Market Drivers | The Demand for Point of Care Testing (POCT) devices for Blood Testing is on the rise. |
Frequently Asked Questions (FAQ) :
The type included in the blood tests market are Complete Blood Count, Blood Chemistry Tests, Enzyme Tests.
The Americas is expected to lead the Blood Testing Market.
Research labs, diagnostic centers, clinics, and hospitals are the end users of Blood Testing Market.
Improving economic conditions and rising healthcare expenditure are adding market growth.
Unmet clinical needs may limit the market growth.
Blood Testing Market is projected to grow at a 5.5 % CAGR between 2017-2023.
