Global Blood Testing Market is Likely to Grow at a CAGR Value of 8.10 % by 2028

29-Jul-2022 | Zion Market Research

The global blood testing market size was worth around USD 80.50 billion in 2021 and is estimated to grow to about USD 128.45 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.10 percent over the forecast period. The report analyzes the blood testing market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the blood testing market.

Blood testing is one of the most ideal and preferred tests for diagnosing various infections. Blood tests allow doctors to effectively diagnose the disease. This helps to provide appropriate treatment and monitor the patient to prevent the spread of the disease. Key factors driving the growth of the global blood testing market include increased prevalence of infectious diseases, increased blood donations, awareness of health care, and adoption of nucleic acid amplification tests (NATs). Factors such as increased testing related to blood donations & blood transfusions, an increasing elderly population, and increased awareness of blood transfusion-related diseases are driving the growth of this market.

As technology advances, untapped emerging markets such as India and China will offer significant growth opportunities for this market during the forecast period. However, in some countries, the lack of laws, regulations, and policies regarding blood transfusion-related activities and the development of alternative technologies to replace blood screening are expected to impede the growth of this market to some extent. The advent of pathogen reduction techniques and microbiological screening & multiplexing is expected to provide a favorable opportunity for the global blood testing market in the coming years. Diabetes monitoring is performed before all surgical procedures. This will increase the usage rate of blood glucose tests. The availability of reusable and easy-to-use blood glucose meters has also contributed to the growth of the market.

Global Blood Testing Market

The global blood testing market is segregated on the basis of test type, end-use, method, and region. By test type, the market is divided into lipid panel testing, prostate-specific, antigen, COVID-19, complete blood count (CBC), BUN testing (blood urea nitrogen), glucose testing, A1C, direct LDL, cortisol, creatinine, and other tests. Among these, the glucose testing segment dominates the market. By end user, the market is classified into hospitals, clinics, diagnostic center, research laboratories, and others (blood banks). Over the forecast period, the hospitals segment is expected to develop at the fastest rate. By method, the market is classified into manual and automated. The automated segment dominates the market. Based on end-use, the market is classified into personal, migrant labor workforce, small businesses, and others. The personal segment dominates the market, accounting for more than 40 per cent of global revenue.

North America is expected to dominate the global blood testing market during the forecast period. North America's largest share is primarily due to increased testing related to blood transfusions, increased prevalence of infectious diseases, an increasing elderly population, the need for early diagnosis & monitoring of disease, increased medical costs, and due to the increased adoption of advanced blood testing technology.

Key players functioning in the global blood testing market include Richard Wolf GmbH, WISAP Medical Technology, KARL STORZ GmbH & Co. KG, Stryker, Teleflex Inc. Ethicon LLC, Centrel, OPTOMIC, Medgyn Products, Inc., Maxer Endoscopy, Vimex Sp. z o.o, Olympus Corporation, and Henke-Sass Wolf.

Recent developments:

  • In May 2020, Dario Health Corp. announced that the US FDA approved its self-monitoring glucose meter for use in hospitalized diabetics.

Browse the full Blood Testing Market By Test Type (Lipid Panel Testing, Prostate-Specific Antigen, COVID-19, Complete blood count (CBC), BUN testing (Blood Urea Nitrogen), Glucose testing, A1C, Direct LDL, Cortisol, Creatinine, and Others tests), By End-user (Hospitals, Clinic, Diagnostic Centre, Research laboratories, and Others (Blood Banks)), By Method (Manual and Automated), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/blood-testing-market

Global blood testing market is segmented as follows:

By Test Type

 Lipid Panel testing

  • Prostate-Specific Antigen
  • COVID-19
  • Complete blood count (CBC)
  • BUN testing (Blood Urea Nitrogen)
  • Glucose testing
  • A1C
  • Direct LDL
  • Cortisol
  • Creatinine
  • Others tests

By End User 

  • Hospitals
  • Clinics
  • Diagnostic Centre
  • Research laboratories
  • Others (Blood Banks)

By Method

  • Manual
  • Automated

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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