Blood Testing Market Scope
Blood tests are very common, blood tests are recommended to see how the body is working. During a blood test, a small sample of blood is taken from the body. It is generally drawn from a vein in arm using a needle or by using a finger prick. The procedure is fast and easy, though it may cause some short-term discomfort. The workers of laboratory draw the blood and analyze it. They use either whole blood to count blood cells or separate the blood cells from the fluid that contains them. This fluid is known as plasma or serum.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Abbott Laboratories (United States), Bio-Rad Laboratories Inc. (United States), Roche Holding AG (Switzerland), Quest Diagnostics (United States), Siemens Healthcare (Germany), Danaher (United States), Becton Dickinson & Company (United States), Trinity Biotech PLC (Ireland), Baxter International (United States), Novartis Diagnostics (Switzerland) and Cepheid Corporation (United States) |
CAGR | 6.6% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Blood Testing market throughout the predicted period.
Abbott Laboratories (United States), Bio-Rad Laboratories Inc. (United States), Roche Holding AG (Switzerland), Quest Diagnostics (United States), Siemens Healthcare (Germany), Danaher (United States), Becton Dickinson & Company (United States), Trinity Biotech PLC (Ireland), Baxter International (United States), Novartis Diagnostics (Switzerland) and Cepheid Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Meridian Bioscience (United States) and BioMerieux S.A. (France).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Blood Testing market by Type , by Application (Laboratory, Hospitals, Point of Care (POC) Testing, Blood Banks and Others) and Region with country level break-up. On the basis of Type, Glucose Testing are dominating the market in the year 2023
On the basis of geography, the market of Blood Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On May 14, 2019 Abbott has announced that it has partnered with the National Institutes of Health (NIH) on the BRAIN (Brain Research through Advancing Innovative Neurotechnologies) initiative to accelerate advancements in neuroscience research. Abbott will provide the company's neuromodulation technologies., On February 25, 2019, Roche and Spark Therapeutics, Inc. announced that they have entered into a definitive merger agreement for Roche to fully acquire Spark Therapeutics, a leader in discovering, developing, and delivering gene therapies with one commercial asset and four programs currently in clinical trials. and DarioHealth Corp. announced in May 2020 that its Self-test Blood Glucose Meters have been granted U.S. FDA approval, for use in hospitalized diabetic patients.
In October 2020, Siemens Healthineers announced shipping worldwide its laboratory-based total antibody test1 to detect the presence of SARS-CoV-2 IgM and IgG antibodies in the blood. The total antibody test permits the identification of patients who have developed an adaptive immune response. On March 26, 2019, Becton, Dickinson and Company, a leading global medical technology company announced the CE-IVD certification for the BD FACSDuet automated flow cytometry system, which enables clinical laboratories to improve their efficiency by reducing errors and limiting the manual user interactions required to run assays on the BD FACSLyric clinical flow cytometer.
Influencing Trend:
Increasing Preference for Minimally Invasive Diagnostic Procedures and Surge in Blood Donations and Organ Offerings
Market Growth Drivers:
Growing Occurrence of Type I As Well As Type II Diabetes and Rise in Prevalence of Infectious Diseases
Challenges:
The Process Can Be Uncomfortable and Testing Is Not Always Definitive
Restraints:
Increasing Cost of Blood Testing
Opportunities:
Rise in Awareness about the Safety of Donated Blood, Increase in Awareness among Patients about Self-Testing Products and Constant Introduction of Movable Home Healthcare Blood Testing Kits
Key Target Audience
Manufacturers of Blood Testing Kits, Suppliers of Blood Testing Kits, Wholesalers, Distributors and Retailers of Blood Testing Kits, Healthcare Industry, Research Organizations and Governmental Bodies