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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, 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. 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. 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. 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. The Blood Testing Market is segmented by type, method, end-user, and geography.
|Lipid Panel Testing|
|Prostate Specific Antigen (PSA) Testing|
|Blood Urea Nitrogen (BUN) Testing|
|Thyroid Stimulating Hormone Testing|
|Other Types (Direct LDL testing, Testosterone Testing)|
|Manual Blood Testing|
|Automated Blood Testing|
|By End User|
|Other End Users|
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A blood glucose test measures the amount of glucose in the blood. Symptoms of disorders like diabetes often appear suddenly and are often the reason for checking blood sugar levels. Moreover, self-testing blood sugar can be an important tool in managing diabetes and preventing complications.
The prevalence of diabetes has increased in recent years and many reports have predicted this prevalence to increase further in future. For instance, as per the 2019 report by the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 9.3% in 2019 to 10.9% by 2045. This will increase the demand for blood glucose testing, which will help the market growth.
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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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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 Burden of Chronic 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
4.3 Market Restraints
4.3.1 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 Glucose Testing
5.1.2 Lipid Panel Testing
5.1.3 Prostate Specific Antigen (PSA) Testing
5.1.4 Blood Urea Nitrogen (BUN) Testing
5.1.5 Thyroid Stimulating Hormone Testing
5.1.6 Other Types (Direct LDL testing, Testosterone Testing)
5.2 By Methods
5.2.1 Manual Blood Testing
5.2.2 Automated Blood Testing
5.3 By End User
5.3.1 Diagnostic Laboratories
5.3.3 Other End Users
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East & Africa
5.4.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Baxter International
6.1.3 Becton, Dickinson and Company
6.1.4 BioMerieux SA
6.1.5 BioRad Laboratories
6.1.6 Cepheid Corporation
6.1.7 Danaher Corporation
6.1.8 F. Hoffmann-La Roche AG
6.1.9 Novartis International AG
6.1.10 Thermo Fisher Scientific
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments