Global Blood Testing Market: Overview
A blood test is a laboratory examination technique of scientific nature of a blood sample, usually for the diagnosis of illness or detection or measurement of the level of substances or cells. The deviation in the functioning of organs can be determined by blood testing. Disregarding the numerous diseases, blood testing is always an acceptable way of informing oneself about the current health and potential health hazards. Blood screening technologies are precise, effective and are high in demand by the consumers. A blood test is usually performed by taking a small sample of blood from the patient’s body with the help of a needle or finger prick or by the use of point of care devices. These tests are economical and are commonly performed in clinics or hospitals as a primary checkup for analyzing any mild to serious ailments which affect the growth of the global blood testing market.
Global Blood Testing Market: Growth Factors
The factors that drive the growth of the global blood testing market are accelerated diseases, growth in R & D, the prevalence of chronic diseases. The rise in the progress of diagnostic tests for early disease detection is expected to fuel the development of the global blood testing market. A number of government bodies encourage hospitals to reduce hospital stays promoting home healthcare. Hence there is an introduction of home healthcare blood testing kits. These factors boost the revenue by promoting the population to undergo blood testing. Unawareness regarding such tests and unavailability of skilled labor are likely to restrain the growth of the global blood testing market. The limited knowledge regarding advanced technology along with a reluctance to adopt newer technology has been prohibiting the global blood testing market progress. The lack of trained professionals has been a major challenge to this market.
Global Blood Testing Market: Segmentation
The global blood testing market is segmented on the basis of, blood chemistry tests (electrolyte test, blood glucose, blood calcium and kidney function test), blood enzyme tests (creatine kinase and troponin) and blood clotting tests (activated partial thromboplastin time, prothrombin time and blood coagulation), by type (complete blood count (white blood cells, red blood cells, hemoglobin, hematocrit and platelets); by diseases (leukemia, hypokalemia, anemia, infection, kidney disorders, heart attack and coronary heart disease), by methods (automated blood culture testing, manual blood culture testing, automated blood culture system and blood culture instruments).
Global Blood Testing Market: Regional Analysis
North America is a major market for the global blood testing industry with respect to revenue generation. Key factors attributing to the growth of the market included the increasing geriatric population, advancement in technological facilities and the introduction of advanced technologies for the point of care blood tests. The U.S. has been recognized as home to several prominent players operating in the space. The initiatives by the government and waiver on point of care testing devices are predicted to be crucial factors connected with to rising acceptance levels for these devices in this region. The Asia Pacific is anticipated to grow at the good pace due to growing awareness amongst the population regarding early disease detection tests. The surge in a number of government schemes in emerging economies to curb the healthcare expenditures is expected to develop the regional blood testing market growth.
Global Blood Testing Market: Competitive Players
Some of the major companies operating in global blood testing market are Abbott, Alere, Bio-Rad laboratories Inc., Quest diagnostics, F. Hoffmann-La Roche ltd, Danaher (Beckman Coulter Inc. and Radiometer), Biomerica Inc., BioMerieux S.A., Siemens Healthineers, Becton Dickinson & Company, Nipro Diagnostics, Trividia Healthcare and Trinity Biotech PLC.
Global Blood Testing Market: Regional Segment Analysis
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