Home > Healthcare & Medical Devices > Blood Testing Market
Industry Overview
Blood Testing Market size was valued at USD 70.5 billion in 2021 and is expected to depict a CAGR of over 6.5% through 2030. Surging prevalence of acute disorders such as chronic kidney disease (CKD), cardiovascular diseases, cancer, and diabetes will boost the market expansion.
Get more details on this report - Request Free Sample PDF
According to the Centers for Diseases Control and Prevention (CDC), around 15% of adults in the United States are estimated to be diagnosed with CKD (chronic kidney disease). Furthermore, according to estimates from the World Health Organization (WHO), cancer is becoming a leading cause of death across the world. This rising prevalence of chronic disorders and the subsequent increase in demand for prevention and control techniques will bolster market dynamics.
| Report Coverage | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | USD 70 Billion |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 6.5% |
| 2030 Value Projection: | USD 123 Billion |
| Historical Data for: | 2017 to 2021 |
| No. of Pages: | 275 |
| Tables, Charts & Figures: | 238 |
| Segments covered: | Product, End-use, and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Get more details on this report - Request Free Sample PDF
The growing prevalence of diabetes will increase the deployment of blood glucose tests
In terms of test type, the blood testing market is bifurcated into complete blood count test, blood glucose test, heart test, infectious disease screening, kidney test-renal profile, cholesterol test-lipid profile test, cancer test, urine test, antibodies-rheumatoid factor, and others.
Get more details on this report - Request Free Sample PDF
The blood glucose test segment is projected to exhibit a CAGR of over 6% through 2030. This is credited to the growing prevalence of diabetes across the globe. As per the WHO data, the prevalence of diabetes in 2021 grew significantly faster in middle- and low-income nations as compared to high-income countries. Moreover, according to statistics from the International Diabetes Federation (IDF), around 537 million adults aged between 20 to 79 years were diagnosed with diabetes in 2021. This growing disease burden has created significant demand for monitoring options such as blood glucose tests, in turn augmenting segment progre
Emergence of novel products with regulatory approval to stimulate demand for blood testing instruments
Get more details on this report - Request Free Sample PDF
By product, the blood testing market is divided into reagents & kits, instruments, and software. The instruments segment is projected to depict a CAGR of over 6.5% during the forecast period. The COVID-19 outbreak provided substantial opportunities for introducing and expanding advanced blood testing products authorized by regulatory bodies. The introduction of novel products such as these, along with strong regulatory support will spur the market forecasts.
Heavy investments in healthcare to augment demand for manual blood testing method
Get more details on this report - Request Free Sample PDF
Based on method, the blood testing market is segregated into automated and manual. The manual segment is anticipated to exhibit over 5% CAGR through 2030. This is owing to the growing investment interest in the healthcare sector. To extend product reachability, some industry players are becoming involved in the development and introduction of advanced products. Developments such as these are likely to expedite market value from the manual segment.
Rising availability of blood testing devices in diagnostic centers to bolster market outlook
Get more details on this report - Request Free Sample PDF
As per end-use, the market is classified into hospitals, diagnostic centers, pathology labs, blood banks, and others. The diagnostics centers segment is projected to hold a business share of over 20% by 2030. The growing availability of multiple user-friendly, portable, and precise blood testing devices is a key factor propelling this growth. Moreover, the rising adoption rate of biosensors owing to their ease of usage will fuel segment demand.
Expanding elderly population in Europe to augment product demand
Get more details on this report - Request Free Sample PDF
Europe blood testing market is set to cross USD 30 billion by 2030. The growing elderly population in addition to the rising prevalence of diabetes and complications associated with the disease will propel market trends. According to Eurostat, in 2021, around 20.8% of the population in the European Union was aged 65 years and over. This rise in the geriatric population susceptible to chronic illnesses is expected to influence regional market statistics.
Key partnerships among prominent players to expand the business landscape
Some of the major companies operating in the blood testing market comprise Abbott Laboratories, F Hoffmann-La Roche Ltd, Bio-Rad Laboratories, Inc, Danaher (Beckman Coulter Inc. and Radiometer), BioMerieux SA., Biomerica, Grifols, A.S, Becton, Dickinson and Company (BD), Thermo Fisher Scientific Inc., Siemens Healthineers, Sinocare Inc. (NIPRO Diagnostics), Trinity Biotech, B. Braun Melsungen AG.
Prominent players are involved in strategic partnerships to reinforce their market position. Citing an instance, in May 2022, Danaher partnered with Smart4Diagnostics to bridge the gap between collection and laboratory analysis of blood. Delay in blood testing or analysis generally results in erroneous outcomes. This collaboration was intended to help the company mitigate pre-analytical errors in real-time and enhance the overall quality of the treatment.
Impact of COVID-19 on blood testing market share
The COVID-19 outbreak emerged as a critical health crisis, creating problems related not just to the respiratory system, but also causing blood-related problems. According to Johns Hopkins Medicine, some patients infected with the SARS-CoV-2 virus developed abnormal blood clotting in the legs and lungs. This issue prompted healthcare organizations to perform blood tests on patients infected with the virus, creating a favorable environment for blood testing industry development.
Furthermore, non-COVID-19 patients with problems such as cardiovascular disorders and cancer continued with regular check-ups, including blood tests. The growing prevalence of these conditions during the pandemic will thus positively impact market revenue.
The blood testing market research report includes in-depth coverage of the industry with estimates & forecasts in terms of “USD” from 2018 to 2030 for the following segments:
By Test type
- Complete blood count test
- Blood glucose test
- Heart test
- Infectious disease screening
- Kidney Test- renal profile
- Cholesterol test- lipid profile test
- Cancer test
- Urine test
- Antibodies test – rheumatoid factor
- Others
By Product
- Reagents & kits
- Instruments
- Software
By Method
- Automated
- Manual
By End-use
- Hospitals
- Pathology labs
- Blood banks
- Diagnostic centers
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Others
- Asia Pacific
- Japan
- China
- India
- Australia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East & Africa
- South Africa
- Saudi Arabia
- Others
Frequently Asked Questions (FAQ) :