Blood Testing Market - Growth, Trends, and Forecast (2020 - 2025)

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.

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Major Players:

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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 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.

Scope of the Report

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. 

By Type
Complete Blood Count
Blood Chemistry Tests/Basic Metabolic Panel
Blood Glucose
Kidney function tests
Cardiac Function tests
Liver Function test
Lipid profile
Others
Microbiology Tests
Blood Culture tests
Staining
Biochemical tests
Other Types
By Methods
Manual Blood Testing
Automated Blood Testing
By End User
Laboratory Diagnostics
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 & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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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.

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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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Competitive Landscape

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.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 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 Prevalence of Target 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

      4. 4.2.4 Introduction of CLIA Waived Tests

    3. 4.3 Market Restraints

      1. 4.3.1 High Procedure Costs

      2. 4.3.2 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

    1. 5.1 By Type

      1. 5.1.1 Complete Blood Count

      2. 5.1.2 Blood Chemistry Tests/Basic Metabolic Panel

        1. 5.1.2.1 Blood Glucose

        2. 5.1.2.2 Kidney function tests

        3. 5.1.2.3 Cardiac Function tests

        4. 5.1.2.4 Liver Function test

        5. 5.1.2.5 Lipid profile

        6. 5.1.2.6 Others

      3. 5.1.3 Microbiology Tests

        1. 5.1.3.1 Blood Culture tests

        2. 5.1.3.2 Staining

        3. 5.1.3.3 Biochemical tests

      4. 5.1.4 Other Types

    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 Laboratory Diagnostics

      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 & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East & 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 BioRad Laboratories

      3. 6.1.3 Baxter International

      4. 6.1.4 Thermo Fisher Scientific

      5. 6.1.5 Novartis International AG

      6. 6.1.6 F. Hoffmann-La Roche AG

      7. 6.1.7 Becton, Dickinson and Company

      8. 6.1.8 Biomerica Inc

      9. 6.1.9 BioMerieux SA

      10. 6.1.10 Cepheid Corporation

    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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