Blood Testing Market Research Report - Forecast to 2030

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 2030

ID: MRFR/LS/4341-HCR | February 2023 | Region: Global | 100 Pages         

Blood Testing Market

Blood Testing Market is expected to register a CAGR of 7.9% and to reach USD 153.3 Billion by 2030.

$153.3 Billion

Market Size

7.9%

CAGR

North America

Dominating Region

2022-2030

Forecast Period
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
Companies Profiled •  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.) •   bioMĂ©rieux (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
Market Driving Forces •  The Demand for Point of Care Testing (POCT) devices for Blood Testing is on the rise.
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Blood Testing Market Overview


The blood testing market is estimated to register a healthy CAGR of over 7.9% to hit USD 153.3 billion during the forecasted era 2022-2030. Blood testing is a laboratory examination procedure that determines the state of a patient's health based on a blood sample collected from the patient's body using syringes or a finger prick. Blood tests can be used to determine how well organs are working. These tests are cheaply priced and are commonly performed in clinics and hospitals as a vital checkup for detecting any mild to severe illnesses, which has an impact on the blood testing market's growth. In recent years, the blood-testing business has experienced tremendous expansion. The influence of the aging population around the world is driving the market's expansion. The number of strategic mergers and acquisitions in the global market has recently increased dramatically, resulting in the extension of the market leader's product portfolio and the strengthening of their market presence. Additionally, factors such as the expanding use of blood testing in other diagnostic areas and the rise in the incidences of various diseases such as bacterial and viral allergic disorders, thyroids, Human Immunodeficiency Virus (HIV) infection, genetic disorders, cancer, and hepatitis are expected to boost market performance over the forecasted period. On the other side, the market's growth will be hampered in the coming years by a lack of awareness of recent advancements, regulatory approval processes, and the high cost of automated blood testing.

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.

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.), bioMĂ©rieux (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


In February of 2022, Tasso, a maker of a wearable blood collection device, has teamed up with Vault Health, a telemedicine company, to help people do diagnostic tests at home. For companies, Vault offers remote services such as COVID-19 testing and alcohol and drug checks. In March 2022, AXIM Biotechnologies, Inc, an international healthcare solutions firm focused on dry eye disease (DED), changed the concentration of their fast COVID-19 Neutralizing Antibody Test to For Research Use Only.

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   USD 153.3 Billion
  CAGR   7.9%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  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.), bioMĂ©rieux (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) :

Blood Testing Market is projected to grow at a 7.9 % CAGR between 2022-2030.

Baxter International (US), Abbott Laboratories Inc. (US), Gen-Probe, Inc. (US), Becton Dickinson & Company (US), Novartis Diagnostics (US), Biomerica, Inc. (US), Cepheid Corporation (US), Meridian Bioscience, Inc. (US), Trinity Biotech (US), Siemens Healthcare (Germany), Bio-Rad Laboratories Inc. (US), Grifols (Spain), bioMĂ©rieux (France), Nanosphere Inc. (US), Roche Diagnostics (Switzerland), Bruker Corporation (US), Alere Inc. (US), Thermo Fisher Scientific Inc. (US) Cardinal Health (US), Beckman Coulter (US), Danaher Corporation (US), and Trividia Health (US)

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.