Blood Borne Testing Market to Witness a Tremendous Growth Due to COVID-19 Pandemic – Exclusive Report by Fact.MR
Fact.MR: Rising incidence of bacterial infections has fueled the need for blood borne testing for early diagnosis of potential illness and ensuring timely treatment. Emergence of lethal pathogens such as Ebola, Dengue, Zika, and West Nile Virus is creating a pressing need for technologically advanced blood borne testing systems.
This Market Research Survey highlights the key reasons behind increasing demand of Blood Borne Testing. These factors have translated into high adoption of point of care devices, subsequently propelling sales of blood borne testing. As efforts to contain the spread of these infections continue to grow, the global blood borne testing market is projected to expand simultaneously at over 7-8% CAGR between 2021 and 2031, finds Fact.MR in a recent market analysis.
In 2020, as the COVID-19 pandemic shook the world, opportunities for development of at-home rapid tests were also created. With restrictions in movement, at-home rapid tests were widely preferred, acting instrumentally in the containment of novel coronavirus.
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Additionally, rapid increase in the incidence of severe infections including HIV, HBV, and Hepatitis C will spur sales of blood borne testing systems. Early detection of HIV using point-of-care testing systems will result in better monitoring of disease progression and streamlined patient management.
Government-backed technological advancements in blood borne testing devices are creating the need for efficient testing kits, including ELISA and rapid tests, which in turn is augmenting the global blood borne testing market growth.
High adoption of advanced digital technology in healthcare will lead to the expansion of blood borne testing market in the U.S. In addition, supportive government policies and robust healthcare infrastructure will propel the growth of blood borne testing market through 2031.
By Test Type
- Rapid Test
By End User
- At home
Key players operating in the blood borne testing market are aiming at innovations in products and new product launches as a part of their growth strategies to establish a strong footprint in the global market. For instance:
In March 2020, CTK Biotech Inc. launched 2 testing kits for actively detecting the novel coronavirus. The tests included a real-time PCR-based nucleic acid detection kit and a serological rapid screening test.
In October 2020, EKF Diagnostics announced the launch of new testing kits for secure collection, handling, and transportation of pathogenic samples, including influenza and COVID-19. These kits are available in postal sample kits for at-home use and multi-pack of sample kits for on-site mass sampling.
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Top Distributors of Blood Borne Testing Include:
- CTK Biotech Inc.
- Biochrome Scientific.
- Coris BioConcept
- Athenese Dx
- EKF Diagnostics
- Ads Biotec Inc.
- Abingdon Health
Key Takeaways from Blood Borne testing Market Analysis
- Sales of rapid tests are anticipated to gain traction owing to factors including need for early detection of possible infection to contain rising cases of COVID-19.
- Based on end-users, at-home blood borne testing will continue gaining momentum.
- Demand for blood borne portable testing models will increase owing to rapid increase in adoption of point-of-care devices.
- The U.S. is forecast to dominate the blood borne testing market due to high presence of leading players and early adoption of digital healthcare technologies.
- The U.K. will emerge as a lucrative market with increasing number of government-back research and development undertaken in the country’s healthcare sector.
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