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Blood Testing Market Consumption Volume, Competitive Dynamics And Worldwide Overview 2028

A blood test is the lab analysis of elements in the blood. It is performed to determine the state of health, the presence of virus and bacteria, and to accesses the disease progression. It is performed by taking a small sample of blood from patients’ body with the help of finger prick or needle. Cardiovascular diseases, cancer, diabetes, and anemia are some of the major diseases for which blood test is recommended to confirm the diseased condition. Blood testing is recommended by physicians to analysis the body functioning. Blood testing is performed in order to assess the functioning of body organs such as liver, kidney, and thyroid.

Increasing awareness among the people about self-testing and home diagnostic tests are expected to fuel the blood testing market growth over the forecast period. Patients with a chronic disease like diabetes have a long-term need for portable and self-reliable diagnostic capabilities. Blood testing market is estimated to grow due to increase in prevalence of diseases such as cancer, thyroids, hepatitis, HIV infection, genetic disorder, and viral allergies.

Test type includes glucose testing, Lipid panel testing, Thyroid stimulating hormone testing, and others. Glucose testing is estimated to account the largest share of revenue owing to the higher sale of these tests than other tests. Higher occurrence rate of Type I and Type II Diabetes coupled with a rise in chances of development of genetic diabetes are key factors attributive for comparatively higher sales associated with the segment. Diabetes monitoring is also carried out prior to any surgical intervention in the patient undergoing surgery and suffering from diabetes which consequently influences demand for these test.

Regional segmentation includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the accounted for the largest share of revenue in the global blood test market. Increasing chronic diseases among the population are expected to fuel the blood test market in the region. The Asia Pacific is expected to register the highest growth due to the presence of high unmet diagnostic needs in the region coupled with rising healthcare expenditure in the developing economies like India and China is expected to boost the blood test market in the region.

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Key players operating in the global thermoplastic elastomers market include Bio-Rad Laboratories, Abbott Laboratories, Siemens AG, Roche Diagnostics, Becton Dickinson & Company, Biomerica, Inc, Novartis Diagnostics, Gen-Probe, Inc, Nipro Diagnostics/Trividia Healthcare, and Ortho Clinical Diagnostics.

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Last Updated: 22-Feb-2019