Global Blood Testing Market Report 2022: Growing Demand for Safe Blood and Blood Products Drives Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Blood Testing Market Bytest type, By end user & By region-2022-2028" report has been added to ResearchAndMarkets.com's offering.

Global Blood Testing Market was valued at USD 73.9 billion in 2021 and it is expected to reach a value of USD 129.13 billion by 2028, at a CAGR of 8.3% over the forecast period (2022-2028).

Growing demand for safe blood and blood products among healthcare institutions around the world is a major driver fuelling market expansion. Governments all across the world are urging citizens to have regular health check-ups and examinations as a result of rising health consciousness. In order to meet the rising demand, they are also making significant investments in supportive policies and healthcare infrastructure. This is anticipated to increase market demand for blood testing equipment.

Segments covered in this report

Global blood testing market is segmented on the basis of test type, end-user, and region. By test type, the market is segmented into glucose testing, lipid panel testing, BUN testing, A1C testing, and others. By end-user, the market is categorized into diagnostic laboratories, hospitals, clinics, and others.

Driver

Several healthcare organizations make investments in research and development efforts to provide cutting-edge diagnostic tools to identify chronic illnesses. Additionally, they are raising awareness to reduce the prevalence of various common and chronic diseases, which is helping the market for blood testing equipment to expand.

Investments from a number of worldwide healthcare organizations require the creation of cutting-edge testing methods. Many blood testing methods are being developed by regulatory organizations such as the Centers for Medicare and Medicaid Services (CMS), the Federal Trade Commission, and the U.S. Food and Drug Administration (FDA) to help with early detection. These developments will drive the demand for blood testing in the global market.

Restraint

The lack of resources in emerging economies and a lack of knowledge about the new testing technique could limit demand in the markets of South Asia and Latin America. Additionally, the FDA and other agencies' strict regulatory clearance procedures may have an impact on the sales of blood testing equipment in the United States and Canada. The North America market is anticipated to suffer as a result.

Market Trends

The regulatory authorities' commercialization of Clinical Laboratory Improvements Amendments (CLIA) for early disease diagnosis is boosting market demand. Equipment for blood testing is used to check blood for a variety of factors, including hemoglobin, white blood cells, etc.

The demand for blood testing equipment is increasing due to the increasing prevalence of common diseases like malaria, diarrhea, dengue, and others, particularly in nations like India, China, Brazil, and the United States. The growth of numerous industries, including forensics, diagnostic research, and microbiology, is another factor boosting the market growth.

Key Topics Covered:

Executive Summary

Market overview

Parent Market Analysis

Market overview

Market size

Key Market Insights

Market Dynamics & Outlook

Global Blood Testing Market by Test Type

Global Blood Testing Market by End-User

Market Size by Region

Companies Mentioned

• Novartis Diagnostics (US)
• Siemens Healthcare (Germany)
• Cepheid Corporation (US)
• Nanosphere Inc. (US)
• Roche Diagnostics (Switzerland)
• Alere Inc. (US)
• Bruker Corporation (US)
• Grifols (Spain)
• Thermo Fisher Scientific Inc. (US)
• Cardinal Health (US)

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