5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The market is segmented by Type (Complete Blood Count, Blood Chemistry Tests/Basic Metabolic Panel, Microbiology Tests, and Other Types), Method, End User, and Geography.
Fastest Growing Market:
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 United States 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.
As per the scope of the report, 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.
|Complete Blood Count|
|Manual Blood Testing|
|Automated Blood Testing|
|By End User|
|Other End Users|
Report scope can be customized per your requirements. Click here.
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.
To understand key trends, Download Sample Report
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.
To understand geography trends, Download Sample Report.
The market consists of several major players. The companies have implemented certain strategic initiatives, such as a mergers, new product launches, acquisitions, and partnerships, which help them in strengthening their market position.
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
184.108.40.206 Blood Glucose
220.127.116.11 Kidney function tests
18.104.22.168 Cardiac Function tests
22.214.171.124 Liver Function test
126.96.36.199 Lipid profile
5.1.3 Microbiology Tests
188.8.131.52 Blood Culture tests
184.108.40.206 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
5.3.3 Other End Users
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East & Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
5.4.5 South America
18.104.22.168 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
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments