Global Blood Virus Testing Market is expected to grow at a CAGR of 7% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Blood Virus Testing Market By Type (Immunology Test, Liver Function Test, Test for Inflammation, Full Blood Count Test, VirScan Test), By End-user (Clinics, Hospitals, Ambulatory Surgical Centers, Diagnostic Centers), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global blood virus testing market is expected to grow from USD 2.9 billion in 2019 to USD 4.98 billion by 2027, at a CAGR of 7% during the forecast period 2020-2027. The market in North America is expected to show significant growth, owing to the high prevalence rate of viral infectious diseases such as hepatitis. Europe is expected to dominate the market, owing to the rising case of severe acute respiratory syndrome, Ebola and Zika virus. The market in Asia-Pacific is expectes to grow, due to the growing awareness amongst the population regarding early disease detection tests.
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Some of the notable players in the market are bioMérieux SA, OraSure Technologies, Inc., Randox Laboratories Ltd., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Omega Diagnostics Group PLC, and Thermo Fisher Scientific Inc.
The type segment includes immunology test, liver function test, test for inflammation, full blood count test, VirScan test. The blood count test segment is expected to show a significant growth owing to increasing demand for point of care testing and development of innovative testing tools and equipment. Based on end-user, the market is segmented into clinics, hospitals, ambulatory surgical centres, diagnostic centres. The diagnostic centres are expected to hold the largest number of shares, owing to the increasing number of organ transplantation surgeries and increasing demand for viral testing.
The factors driving the market are rapid increase in the number of viral infections, improving research and medical facilities, awareness about healthcare, rise in healthcare initiatives by government, growing epidemiology of viral infections, and technological advancement in blood virus testing. Factors restraining the market growth are lack of skilled manpower, lack of accessibility to healthcare facilities, limited awareness about viral infections and high operating costs. Advancement in technology and the developing economies are anticipated to provide opportunities for the growth of the blood virus testing market.
About the report:
The global blood virus testing market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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