ID: MRFR/LS/4341-HCR | February 2021 | Region: Global | 100 pages
$140.2 Billion
11.25%
North America
2020-2027
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
Sources: Annual reports, Press release, White paper, and Company presentation
Regional Analysis
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
Intended Audience
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.