Blood Testing Market Shares & Forecast by 2024 – Market Size, Type, Manufacturers, Application, Industry Analysis by Geographical Regions

Blood Testing

The report focuses on the favorable Global “Blood Testing market” and its expanding nature. The Blood Testing market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The blood testing market is expected to witness rapid growth, due to the increasing need for the identification of infectious agents, cardiovascular diseases, cancer biomarkers, drug abuse, and women’s health issues. A blood test is performed for various indications, such as anaemia, infection, leukaemia, hypokalemia, and kidney. About 70% of the information in the average medical charts is from laboratory diagnostics, which also includes blood tests. Lab diagnostics, relying on diagnostic tests to initiate the treatment of any disease condition, have played a significant role in the growth of the blood testing market.
  • Moreover, increasing technological advancement is also one of the significant factors for the growth of the market. For instance, a couple of Universities in the have researched and made remarkable progress in developing new methods and ways of blood testing and analysing the samples. At the University of California, San Diego, the bioengineers have developed a new blood test that could detect cancer and pinpoint the location of the growing tumour.
  • Furthermore, a substantial number of CLIA waived blood tests available in the market are used within a wide range of healthcare settings. This, in turn, has led to the growth in the blood testing practices at out-of-hospital settings, such as home and physician’s offices.
  • The biotechnology company providing diagnostic solutions, i-calQ, has developed a smartphone-based point-of-care integrated mobile diagnosis and decision support system. Biosensor-equipped smartphones are used to quantify, interpret, and record point-of-care diagnostic tests using a drop of blood or saliva, and the results can be interpreted anywhere and at any time. Thus, technological advancement and increasing demand for identification of blood test are two main factors for the growth of the market.

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    Key Manufacturers

  • Abbott Laboratories
  • BioRad Laboratories
  • Baxter International
  • Thermo Fisher Scientific
  • Novartis International AG
  • F. Hoffmann
  • La Roche AG
  • Becton, Dickinson and Company
  • Biomerica Inc
  • BioMerieux SA
  • Cepheid Corporation

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Blood Testing market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Blood Testing market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Blood Testing market have also been involved in the study.

    Scope of the Report:

  • As per the , blood testing is an analysis conducted in a laboratory, with the main aim to determine the general state of health, the presence of any harmful bacteria or viruses, and to assess disease progression. Some of the major diseases that require blood testing are Cancer and AIDS/HIV.

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    TOC of Blood Testing Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Blood Testing market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Blood Testing Market Report Covered:

    • The report analyses how Blood Testing market will grow in the future.
    • Analyzing various perspectives of the Blood Testing market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Blood Testing market shares and policies employed by the major market players.
    • Competitive landscape including the Blood Testing market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Blood Testing market players

    Key Market Trends:

    Automated Blood Testing is Expected to Hold the Largest Share of the Blood Testing Market, over the Forecast Period

    Advanced technologies have reduced the number of blood vials necessary to perform blood testing. Now, hundreds of different tests can be performed from a single drop. Such a dramatic change has been cost-effective in providing better information for the physician, enabling disease detection at an early stage to initiate immediate treatment. For instance, Tasso Inc. has launched HemoLink, a painless blood collection product for blood sampling, which can be employed in a broad range of diagnostic applications. There are recent technology advances in needle-safety, for e.g., needles that are manually activated after insertion into the vein. Most recent among this allow passive activation of the safety feature, as the blood collection is initiated. Theranos company has launched a blood testing platform where the device uses a finger stick to draw a microlitre sample of blood into a disposable cartridge, which is loaded into the device’s “reader” for analysis; results are sent wirelessly from the reader to a secure database, from where they go online for a patient or patient’s physician to access. All these factors may augment the growth of automated blood testing in the market.

    North American Region Holds the Largest Market Share of the Blood Testing Market

    North America acquired its largest market share with technological advancements such as the introduction of miniaturized diagnostic devices, rendering rapid and accurate test results that have higher market penetration in the region, coupled with favourable medical insurance policies enhancing the market adoption. Favourable government initiatives and CLIA waiver on POC testing devices were also notable factors that estimated the growth.

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    Study objectives of Blood Testing Market Report:

    • To provide a detailed analysis of the market structure along with the Blood Testing market forecast of various segments and sub-segments of the Blood Testing market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Blood Testing market trends that influence the global Blood Testing market

    Detailed TOC of Blood Testing Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Growing Prevalence of Target Diseases
    4.2.2 Rising Demand for Home Healthcare and the Introduction of Advance Technology-enabled Products
    4.2.3 Implementation of Favorable Government Initiatives & External Funding for R&D Exercises
    4.2.4 Introduction of CLIA Waived Tests
    4.3 Market Restraints
    4.3.1 High Procedure Costs
    4.3.2 Stringent Regulatory Approval Process
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Complete Blood Count
    5.1.2 Blood Chemistry Tests/Basic Metabolic Panel
    5.1.2.1 Blood Glucose
    5.1.2.2 Kidney function tests
    5.1.2.3 Cardiac Function tests
    5.1.2.4 Liver Function test
    5.1.2.5 Lipid profile
    5.1.2.6 Others
    5.1.3 Microbiology Tests
    5.1.3.1 Blood Culture tests
    5.1.3.2 Staining
    5.1.3.3 Biochemical tests
    5.1.4 Other Types
    5.2 By Methods
    5.2.1 Manual Blood Testing
    5.2.2 Automated Blood Testing
    5.3 By End User
    5.3.1 Laboratory Diagnostics
    5.3.2 Hospitals
    5.3.3 Other End Users
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott Laboratories
    6.1.2 BioRad Laboratories
    6.1.3 Baxter International
    6.1.4 Thermo Fisher Scientific
    6.1.5 Novartis International AG
    6.1.6 F. Hoffmann-La Roche AG
    6.1.7 Becton, Dickinson and Company
    6.1.8 Biomerica Inc
    6.1.9 BioMerieux SA
    6.1.10 Cepheid Corporation

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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