Blood Testing Market Research Report - Forecast to 2027

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.

Segmentation

By Test Type Complete Blood Count Blood Chemistry Tests Enzyme Tests
Disease Anemia Infection Leukemia
Method Manual Automated
End-User Hospitals Diagnostic Center

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.
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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


 <a href='https://www.marketresearchfuture.com/reports/blood-coagulation-testing-market-970'>Blood Testing Market</a> Share


Segmentation


The Blood Testing market has been segmented on the basis of test type, disease, method, and end-user.


On the basis of test type, the Blood Testing market can be segmented into glucose testing, lipid panel testing, direct LDL testing, Prostate Specific Antigen (PSA) testing, Blood Urea Nitrogen (BUN) testing, A1C testing, high sensitivity C-Reactive Protein (hs-CRP) testing, Vitamin D testing, alt testing, thyroid stimulating hormone testing, creatinine testing, serum nicotine/cotinine testing, AST testing, cortisol testing, testosterone testing, and others.


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.

The automated blood culture testing segment is classified into automated blood culture system, blood culture instruments, and others      


On the basis of end-user, the global Blood Testing market is segmented into hospitals, clinics, diagnostic centers, research labs, and others.

Research Methodology

 <a href='https://www.marketresearchfuture.com/reports/blood-coagulation-testing-market-970'>Blood Testing Market</a> Methodology


Sources: Annual reports, Press release, White paper, and Company presentation


Regional Analysis                     


The global Blood Testing market consists of four regions, namely, the Americas, Europe, Asia Pacific, and the Middle East and Africa.


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.


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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.