Blood Testing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Blood Testing Market is segmented by Type (Glucose Testing, Lipid Panel Testing, Prostate Specific Antigen (PSA) Testing, Blood Urea Nitrogen (BUN) Testing, Thyroid Stimulating Hormone Testing, and Other Types), Method (Manual Blood Testing and Automated Blood Testing), End User (Diagnostic Laboratories, Hospitals and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Blood Testing Industry Overview

Blood Testing Market Overview
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.2 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Need a report that reflects how COVID-19 has impacted this market and its growth?

Blood Testing Market Analysis

The blood testing market was estimated to be growing at a CAGR of 5.2% during the forecast period of 2022-2027.

As the number of COVID-19 cases increased worldwide, the blood testing market was significantly impacted due to the outbreak. Also, the rising adoption of blood testing to perform the COVID-19 diagnosis routines is expected during the forecast period. According to the article titled ' COVID-19 diagnosis by routine blood test using machine learning' published in May 2022, the study constructed a machine learning model for COVID-19 diagnosis that was based and cross-validated on the routine blood test of 5333 patients with various bacterial and viral infections and 160-COVID-19 positive patients. Due to these factors, the COVID-19 impact on the market is expected to be positive.

The factors such as the growing burden of chronic diseases, rising demand for home healthcare, the introduction of advanced technology-enabled products, implementation of favourable governmnet initiatives and rising research and development expenditures on developing blood tests is expected to drive the market stuided.

The blood is the most important factor directly within the circulation system of the body, along with the plasma and serum, which is widely studied for the detection of biomarkers also, especially in cancer for cancer detection and early diagnosis. The growing burden of several chronic diseases has increased the demand for its early and effective diagnosis, as delay in diagnosis may lead to complications and can be fatal in nature. Therefore, these diseases are creating a burden on the healthcare system. Hence, regular monitoring and diagnosing of these diseases are recommended which is expected to fuel the market growth during the study period. According to the Globocan 2020, the new cancer cases that were diagnosed accounted for 19,292,789 in 2020 globally, with 9,958,133 deaths. Among all cancers, breast cancer accounted for 2,261, 419 new cancer cases, followed by lung (2,206,771), prostate (1,414,259), and colon with 1,148,515 new cases in 2020.

The study article titled “Dengue and severe dengue” published by World Health Organization (WHO) in January 2022 stated that an estimated 100-400 million dengue infections occur each year globally. Early detection of disease progression associated with severe dengue, and access to proper medical care lowers fatality rates of severe dengue to below 1%. Therefore, decrease in mortality rate due to early diagnosis of the disease, boosts the demand for timely diagnosis of the diseases, thus driving the market. With the diversity of diseases increasing and growing focus toward the development of better treatment options for chronic and infectious diseases, the burden of such diseases drives the blood testing market globally, and is among the major factors, for the same.

Thus, due to the above-mentioed factors, the stuided market is expected to grow signiifcantly during the study period. However, stringent regulatory approval process is expected to hinder the market growth during study period.

Blood Testing Industry Segments

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 assess disease progression. Some of the major diseases that require blood testing are Cancer and AIDS/HIV. The Blood Testing Market is segmented by Type (Glucose Testing, Lipid Panel Testing, Prostate-Specific Antigen (PSA) Testing, Blood Urea Nitrogen (BUN) Testing, Thyroid Stimulating Hormone Testing, and Other Types), Method (Manual Blood Testing and Automated Blood Testing), End User (Diagnostic Laboratories, Hospitals and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Type
Glucose Testing
Lipid Panel Testing
Prostate Specific Antigen (PSA) Testing
Blood Urea Nitrogen (BUN) Testing
Thyroid Stimulating Hormone Testing
Other Types (Direct LDL testing, Testosterone Testing)
By Methods
Manual Blood Testing
Automated Blood Testing
By End User
Diagnostic Laboratories
Hospitals
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Blood Testing Market Trends

This section covers the major market trends shaping the Blood Testing Market according to our research experts:

Glucose Testing is Expected to Hold Significant Share of the Blood Testing Market.

A blood glucose test is used to measure the total amount of glucose in the blood. The symptoms of various disorders like diabetes, usually appear suddenly and are often the reason why blood sugar levels need to be checked. Additionally, the self-testing of blood sugar is an important tool to manage diabetes and prevent complications. The rising prevalence of type I as well as type II diabetes coupled with the growing cases of hereditary diabetes also supports the growth of the glucose testing segment.

Furthermore, the prevalence of diabetes has increased in recent years, and many reports have predicted this prevalence to increase further in the future. For instance, as per the December 2021 report by the International Diabetes Federation, approximately 537 million adults (20-79 years) lived with diabetes in 2021. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. This will increase the demand for blood glucose testing, which will help in market growth.

The presence of portable glucose meters that can be used by patients for routine checkups anywhere anytime has resulted in a significant share of this segment. Furthermore, diabetes monitoring is carried out before any surgical intervention for the patient with diabetes, which consequently influences the demand for these products. The launch of new products in the segment is expected to drive market growth during the study period. For instance, in May 2022, Labcorp launched an at-home collection kit through Labcorp OnDemand that measures hemoglobin A1c (HbA1c) from a small blood sample to measure the sugar level.

Thus, owing to the above-mentioned factors the segment is expected to show significant growth over the forecast period.

Trend 1

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

The North American region has acquired the largest market share due to technological advancements such as the introduction of miniaturized diagnostic devices, rendering rapid and accurate test results that have higher market penetration in the region, along with favorable medical insurance policies enhancing the market adoption of products. The United States is expected to dominate the market in the North American region.

The rising burden of chronic diseases in the United States such as diabetes, thyroid, and other diseases requiring blood tests will boost the studied market. For instance, as per the National Diabetes Statistics Report, 2020, there are approximately 34.2 million people or 10.5% of the United States population who have diabetes. Type 1 diabetes accounts for about 5.2% of all diagnosed cases of diabetes, affecting approximately 1.6 million people in the United States.

Furthermore, the launch of technologically advanced blood tests in the country will also positively contribute to market growth. For instance, in January 2022, Eurofins subsidiary empowerDX launched PFAS Exposure in the United States, the direct-to-consumer at-home test to determine levels of Per- and Polyfluorinated Alkyl Substances (PFAS) in a person’s blood and measure 47 of the PFAS forever chemical compounds. Also, in August 2021, Smart Meter launched iGlucose monitor for managing gestational diabetes. iGlucose provides an easy and reliable way to test, monitor and manage blood glucose levels, ensuring that all care providers have immediate access to testing results.

Thus, above-mentioned factors are expected to drive the market's growth in the North American region.

Blood Testing Market Growth Rate By Region

Blood Testing Market Competitor Analysis

The market consists of several major players. The companies have implemented certain strategic initiatives, such as a merger, new product launches, acquisitions, and partnerships, which help them in strengthening their market position. The major players are Danaher Corporation, BioRad Laboratories, Thermofisher Scientific, Abbott Laboratories, and BioMerieux S.A. Additionally, the key players have been involved in various strategic alliances such as acquisitions, and collaborations along with the launch of advanced products to secure their position in the global market. 

Blood Testing Market Top Players

  1. Bio­Rad Laboratories

  2. Danaher Corporation

  3. Abbott Laboratories

  4. BioMerieux SA

  5. Thermo Fisher Scientific

*Disclaimer: Major Players sorted in no particular order

Danaher Corporation (Beckman Coulter Inc. and Radiometer), Bio­Rad Laboratories, Abbott Laboratories, BioMerieux SA, Thermo Fisher Scientific

Blood Testing Market Recent Developments

  • In June 2022, Apollo Cancer Centres in partnership with Datar Cancer Genetics launched a blood test that can detect breast cancers at early stages in asymptomatic individuals.
  • In May 2022 the company Guardant Health, Inc announced the availability of Shield, which is a blood-based test for the detection of early-stage colorectal cancer (CRC).

Blood Testing Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Burden of Chronic Diseases

      2. 4.2.2 Rising Demand for Home Healthcare and the Introduction of Advance Technology-enabled Products

      3. 4.2.3 Implementation of Favorable Government Initiatives & External Funding for R&D Exercises

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Approval Process

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size By Value - in USD Millions)

    1. 5.1 By Type

      1. 5.1.1 Glucose Testing

      2. 5.1.2 Lipid Panel Testing

      3. 5.1.3 Prostate Specific Antigen (PSA) Testing

      4. 5.1.4 Blood Urea Nitrogen (BUN) Testing

      5. 5.1.5 Thyroid Stimulating Hormone Testing

      6. 5.1.6 Other Types (Direct LDL testing, Testosterone Testing)

    2. 5.2 By Methods

      1. 5.2.1 Manual Blood Testing

      2. 5.2.2 Automated Blood Testing

    3. 5.3 By End User

      1. 5.3.1 Diagnostic Laboratories

      2. 5.3.2 Hospitals

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Becton, Dickinson and Company

      3. 6.1.3 BioMerieux SA

      4. 6.1.4 BioRad Laboratories

      5. 6.1.5 Danaher Corporation

      6. 6.1.6 F. Hoffmann-La Roche AG

      7. 6.1.7 Novartis International AG

      8. 6.1.8 Thermo Fisher Scientific

      9. 6.1.9 Una Health Ltd

      10. 6.1.10 Shimadzu Corporation

      11. 6.1.11 Waters Corporation

      12. 6.1.12 PerkinElmer Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Blood Testing Market Research FAQs

The Global Blood Testing Market is studied from 2018 - 2028.

The Global Blood Testing Market is growing at a CAGR of 5.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Bio­Rad Laboratories, Danaher Corporation, Abbott Laboratories, BioMerieux SA, Thermo Fisher Scientific are the major companies operating in Global Blood Testing Market.

Global Blood Testing Industry Reports

In-depth industry statistics and market share insights of the Global Blood Testing sector for 2020, 2021, and 2022. The Global Blood Testing research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global Blood Testing report PDF.

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