The blood testing market size was valued at USD 89.5 billion in 2022 and is projected to grow from USD 96.57 Billion in 2023 to USD 152.39 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.90% during the forecast period (2023 - 2030).
The blood testing market continues its upward trajectory, fueled by increasing healthcare awareness and technological advancements. With rising chronic diseases like diabetes, cardiovascular ailments, and infectious diseases, demand for blood tests is soaring. Molecular diagnostics, point-of-care testing, and immunoassays are key segments experiencing notable growth. Furthermore, COVID-19 pandemic accentuated the importance of blood testing for diagnosis, surveillance, and antibody detection. Companies are innovating to enhance accuracy, speed, and convenience, while regulatory bodies are streamlining approval processes. The market witnesses fierce competition with major players expanding their portfolios through acquisitions and partnerships. As healthcare systems emphasize preventive care, the blood testing market is poised for sustained expansion.
The blood testing market is witnessing a significant surge in demand, driven by the growing awareness of preventive healthcare and the increasing prevalence of chronic diseases. Among the array of blood tests, CBC (Complete Blood Count) blood tests and hematocrit measurements stand out as vital diagnostic tools.
CBC blood tests provide comprehensive insights into various blood components, including red blood cells, white blood cells, and platelets. Healthcare professionals rely on CBC tests to assess overall health status, detect infections, monitor existing conditions like anemia or leukemia, and evaluate response to treatments.
Hematocrit, a key component measured in CBC tests, refers to the proportion of red blood cells in the blood. It plays a crucial role in oxygen transport throughout the body. Abnormal hematocrit levels can indicate conditions such as dehydration, anemia, or polycythemia.
The demand for CBC blood tests and hematocrit measurements is poised to grow further with the rising incidence of blood disorders and the emphasis on early disease detection. As healthcare providers increasingly prioritize preventive care, the blood testing market is expected to expand globally.
Moreover, technological advancements, such as automated analyzers and point-of-care testing devices, are enhancing the efficiency and accuracy of blood testing procedures. This trend is likely to fuel market growth and improve accessibility to essential diagnostic services, ultimately contributing to better patient outcomes and healthcare management.
Global Blood Testing Market – Segments
The report is segmented into five dynamics;
By Test Type: Direct LDL Testing, Glucose Testing, Lipid Panel Testing, Prostate Specific Antigen (PSA) Testing, A1C Testing, Blood Urea Nitrogen (BUN) Testing, High Sensitivity C-Reactive Protein (hs-CRP) Testing, Alt Testing, Vitamin D Testing, Thyroid Stimulating Hormone Testing, Serum Nicotine/Cotinine Testing, Creatinine Testing, AST Testing, Testosterone Testing, Cortisol Testing, and others.
By Disease : Infection, Anemia, Leukemia, Kidney Disorders, Hypokalemia, Coronary Heart Disease, Heart Attack, and other diseases.
By Method : Automated Blood Culture Testing, Manual Blood Culture Testing, and others.
By End-User : Hospitals, Clinics, Diagnostic Centers, Research Labs, and others.
By Regions : Europe, Americas, Asia Pacific, and the Rest-of-the-World (RoW).
Global Blood Testing Market – Regional Analysis
North America dominates the global blood testing market. Market growth attributes to the rising prevalence of kidney disorders, bloodstream infections, other infections, and demand for rapid diagnostic tests. Besides, factors such as early adoption of advanced medical technologies and continuous development by industry players impact the market growth positively.
Moreover, the presence of large numbers of industry players and well-developed healthcare sectors in the region boost market growth. The North American blood testing market is projected to retain its dominance over the global market throughout the assessment period.
Europe stands second in the global blood testing market. The market is propelled by the rise in research expenses and technological advances. Also, the increasing awareness for chronic infection diseases and initiatives undertaken by public and private sectors boost the market growth. Moreover, factors such as accelerating health concerns and demand for innovative and effective therapies boost the regional market growth.
Also, the growing prevalence of various chronic diseases and hematological disorders push regional market growth. Furthermore, the presence of prominent market players in the region impacts market growth positively. The European blood testing market is estimated to create a substantial revenue pocket during the forecast period.
The Asia Pacific blood testing market is growing rapidly. Factors such as the increasing awareness of the importance of diagnostics in personalized medicines and government initiatives to promote the use of personalized medicines drive market growth. Furthermore, the increase in the number of government schemes to curb the skyrocketing healthcare expenditures influence market growth.
Moreover, the rising adoption rate of blood testing tests and increasing healthcare expenditure of demographics foster the growth of the market. China and India are hotspots for investment opportunities due to the growing numbers of diagnoses, treatments, research activities, healthcare modernization, and quality improvisations.
Major Players:
The global blood testing market players Include are Baxter International (U.S.), Abbott Laboratories Inc. (U.S.), Gen-Probe, Inc. (U.S.), Becton Dickinson & Company (U.S.), Novartis Diagnostics (U.S.), Biomerica, Inc. (U.S.), Meridian Bioscience, Inc. (U.S.), Cepheid Corporation (U.S.), Trinity Biotech (U.S.), Siemens Healthcare (Germany), Bio-Rad Laboratories Inc. (U.S.), Grifols (Spain), bioMérieux (France), Nanosphere Inc. (U.S.), Roche Diagnostics (Switzerland), Bruker Corporation (U.S.), Alere Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.) Cardinal Health (U.S.), Beckman Coulter (U.S.), Danaher Corporation (U.S.), and Trividia Health (U.S.), among others.
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