Blood Testing Market

Blood Testing Market by Test Types (Glucose, Lipid, COVID-19, A1C, CRP, Vitamin D, ALT, AST, TSH, PSA, Cortisol, Creatinine, BUN, Direct LDL, and Testosterone) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: HC-869
  • Author: Growth Market Reports
  • Rating: 4.9
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  • No. Of Pages: 178
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The global blood testing market size was valued at USD 73.9 billion in 2020 and is projected to reach USD 140.3 billion by 2028, expanding at a CAGR of 8.3% during the forecast period, 2021–2028. The growth of the market is attributed to the growing medical spending by the government and regulatory bodies.

Blood Testing Market-Key Takeaways

A blood test involves an analysis of blood sample using laboratory-based procedure. In general, the blood drawn from individual is put under examination for various applications especially to examine and assess a person's health condition. Blood samples are often used in the healthcare industry to determine organ function, physiological and biochemical conditions, disease transmission, and prescription medication efficacy. A blood examination is undertaken for identification of a variety of health conditions and problems such as anemia, infection, leukemia, hypokalemia, and kidney disease. The growth of the blood testing market is significantly boosted due to the rapid expansion of lab diagnostics, which focus on various tests to begin the treatment of any disease condition.

Market Trends, Drivers, Restraints, and Opportunities

  • External funding for clinical studies aimed at developing new and advanced diagnostic tests is helping to grow the market.
  • Rising awareness among patients about various self-testing and home diagnostic tests is likely to influence the growth of the global blood testing market.
  • Growing number of COVID-19 cases across the globe is forced to raise the demand for large-scale diagnostic testing. This is expected to boost the market.
  • Increasing prevalence of chronic diseases along with a strong demand for fast products for assessing health problems is projected to propel the market forward. Blood testing is essential for the routine surveillance of diseases, so this is likely to create profitable benefits for operating agencies.
  • Some of the blood testing for examining severe diseases take longer period of time and relatively costly, which act as major challenges to hamper the market expansion.

Scope of the Report

The report on the global blood testing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Blood Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Test Types (Glucose, Lipid, COVID-19, A1C, CRP, Vitamin D, ALT, AST, TSH, PSA, Cortisol, Creatinine, BUN, Direct LDL, and Testosterone)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott; F. Hoffmann-La Roche AG; Bio-Rad Laboratories, Inc.; bioMerieux SA; Quest Diagnostics; Biomerica, Inc.; Becton, Dickinson and Company; Siemens Healthineers; Danaher Corporation; and Trinity Biotech Plc


Global Blood Testing Market Segment Insights

Glucose segment is expected to dominate the market
Based on test types, the global blood testing market is segmented into glucose, lipid, COVID-19, A1C, CRP, vitamin D, ALT, AST, TSH, PSA, cortisol, creatinine, BUN, Direct LDL, and testosterone. The glucose segment accounted for a revenue share of 28.7% of the global market in 2020 and is expected to dominate the market during the forecast period owing to the high market penetration of these tests in the global market. The COVID-19 pandemic outbreak is expected to provide lucrative opportunities for major companies to expand their market and deliver innovative glucose tracking product offerings. Technological advances in these glucometers such as wireless networking and Bluetooth capabilities are pushing to drive the adoption of the testing. Smart glucose tracking devices include iHealth Smart, iHealth Align, Dario Health Smart Meter, and Glooko.

On the other hand, the A1C segment is also projected to exhibit a significant growth rate in the coming years due to its high convenience of the testing type. A1C testing, also known as glycated hemoglobin testing, is a simple blood examination that shows the average blood sugar level, which helps in diabetes diagnosis and medication control. These tests are useful in point-of-care (POC) diagnosis because they have a long-term indicator of blood glucose control. POC diagnostic instruments may be used to track glycated sugar levels in the blood using rapid or over-the-counter checks as well as drug tests.

Blood Testing Market-By Test Types

North America is projected to constitute a large market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a large revenue share accounting for over 43.0% in 2020 and is expected to constitute a significant market share in the coming years. One of the major reasons expected to fuel the segment growth is due to increase in the number of strategic initiatives being pursued by government bodies and market players to increase plasma donations across the region. Plasma, from people who have recovered from the disease, is being collected in greater numbers at blood collection centers throughout the world. The rising number of blood donors is expected to increase the market for pre- and post-transplant testing products.

On the other hand, the market in Asia Pacific is expected to grow at a fast rate due to the increasing prevalence of chronic diseases in developing countries such as India and China. Moreover, a number of multinational companies are heavily investing due to cheap labor and large scope for potential market expansion in the region. Continuous research efforts are expected to fuel growth in developing Asian economies such as Japan.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Blood Testing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Blood Testing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Blood Testing Market - Supply Chain
  4.5. Global Blood Testing Market Forecast
     4.5.1. Blood Testing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Blood Testing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Blood Testing Market Absolute $ Opportunity
5. Global Blood Testing Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Blood Testing Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Blood Testing Demand Share Forecast, 2019-2026
6. North America Blood Testing Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Blood Testing Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Blood Testing Demand Share Forecast, 2019-2026
7. Latin America Blood Testing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Blood Testing Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Blood Testing Demand Share Forecast, 2019-2026
8. Europe Blood Testing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Blood Testing Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Blood Testing Demand Share Forecast, 2019-2026
9. Asia Pacific Blood Testing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Blood Testing Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Blood Testing Demand Share Forecast, 2019-2026
10. Middle East & Africa Blood Testing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Blood Testing Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Blood Testing Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Blood Testing Market: Market Share Analysis
  11.2. Blood Testing Distributors and Customers
  11.3. Blood Testing Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Abbott
     11.4.2. F. Hoffmann-La Roche AG
     11.4.3. Bio-Rad Laboratories, Inc.
     11.4.4. bioMerieux SA
     11.4.5. Quest Diagnostics
     11.4.6. Biomerica, Inc.
     11.4.7. Becton, Dickinson and Company
     11.4.8. Siemens Healthineers
     11.4.9. Danaher Corporation
     11.4.10. Trinity Biotech Plc
Segments Covered in the Report
The global blood testing market has been segmented on the basis of

Test Types
  • Glucose
  • Lipid
  • COVID-19
  • A1C
  • CRP
  • Vitamin D
  • ALT
  • AST
  • TSH
  • PSA
  • Cortisol
  • Creatinine
  • BUN
  • Direct LDL
  • Testosterone
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Abbott
  • F. Hoffmann-La Roche AG
  • Bio-Rad Laboratories, Inc.
  • bioMerieux SA
  • Quest Diagnostics
  • Biomerica, Inc.
  • Becton, Dickinson and Company
  • Siemens Healthineers
  • Danaher Corporation
  • Trinity Biotech Plc

Some of the major players competing in the market are Abbott; F. Hoffmann-La Roche AG; Bio-Rad Laboratories, Inc.; bioMerieux SA; Quest Diagnostics; Biomerica, Inc.; Becton, Dickinson and Company; Siemens Healthineers; Danaher Corporation; and Trinity Biotech Plc.

To expand their market reach, market players are involved in the production and introduction of new products. In May 2020, DarioHealth Corp. announced that its self-test blood glucose meters had been approved by the US Food and Drug Administration for the use in hospitalized diabetic patients. Meanwhile, Siemens Healthineers announced in October 2020 that it had plan to extend its COVID-19 and molecular assays manufacturing capability in India. In India, this new facility in Vadodara, Gujarat, aimed to produce COVID-19 antigen, conduct antibody testing (serology testing), and RT PCR tests.

 Blood Testing Market-By Key Players

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