Blood Testing Market Size, Competitive Landscape , Key Players and Regional Outlook Forecast 2027

Blood Testing Market Research Report: By Test Type (Complete Blood Count, Blood Chemistry Tests, Enzyme Tests), Disease (Anemia, Infection, Leukemia,), Method (Manual, Automated), End-User (Hospitals, Diagnostic Center)- Forecast till 2027

Blood Testing provides more of a high-level overview and in-depth details on more specific aspects of health functions alongside indicating current and potential health risks. Integration of several powerful technologies such as Artificial Intelligence (AI) has made the blood testing more effective. An AI-powered blood test consisting of one clinical variable and six biomarkers predicted with high accuracy the presence of peripheral artery disease and the need for revascularization in patients with and without diabetes.

Growing incidents of chronic diseases and conditions such as cancer, diabetes, heart disease along with the organ failure cases drive the demand for blood testing in multiplications. Needless to say, that the blood testing market is ever increasing. Also, great technological strides being made in electronic monitoring devices and substantial investments transpired into R&D activities are in turn, paying off well, expanding the market size.

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Global Blood Testing Market – Regional Analysis

The North America market is expected to retain its dominance over the global blood testing market with the largest market share. A well-developed healthcare sector, increasing prevalence of chronic diseases such as diabetes and cancer especially in the US & Canada along with the high per capita healthcare expenditures drive the market growth in the region. This market will create a substantial revenue pocket registering a substantial CAGR throughout the forecast period (2017-2023). Furthermore, the presence of prominent market players impacts the market growth positively.

Europe & Asia Pacific region accounts for the second & third largest market respectively for the blood test. The European blood testing market is growing due to the increasing awareness of chronic infectious diseases, the initiatives undertaken by private and public organizations, and well-spread awareness towards keeping the good health.

The Asia Pacific region is emerging as one of the promising markets for the blood testing. This attributes to the increasing healthcare expenditures and favorable government policies of developing economies like India and China.

Factors substantiating the market growth in the APAC region include the substantial funds transpired into R&D activities, huge patient population, well-developed healthcare infrastructure, and government support. Simultaneously, economies having high healthcare expenditures such as India, China, and Japan propel the market growth in the region.

Global Blood Testing Market – Segments

The report is segmented into five dynamics:

By Test Type: Direct LDL Testing, Glucose Testing, Lipid Panel Testing, Prostate Specific Antigen (PSA) Testing, A1C Testing, Blood Urea Nitrogen (BUN) Testing, High Sensitivity C-Reactive Protein (hs-CRP) Testing, Alt Testing, Vitamin D Testing, Thyroid Stimulating Hormone Testing, Serum Nicotine/Cotinine Testing, Creatinine Testing, AST Testing, Testosterone Testing, Cortisol Testing, and others.

By Disease: Infection, Anemia, Leukemia, Kidney Disorders, Hypokalemia, Coronary Heart Disease, Heart Attack, and other diseases.

By Method: Automated Blood Culture Testing, Manual Blood Culture Testing, and others.

By End-User: Hospitals, Clinics, Diagnostic Centers, Research Labs, and others.

By Regions: Europe, Americas, Asia Pacific, and the Rest-of-the-World (RoW).

Global Blood Testing Market – Competitive Analysis

The market for blood testing appears fragmented and fiercely competitive due to many large and small players churning the competition in the market. Through the strategic partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain the competitive edge.

Blood Testing Market Major Players:

The global blood Testing market is led by some of the fervent players including Baxter International (U.S.), Abbott Laboratories Inc. (U.S.), Gen-Probe, Inc. (U.S.), Trinity Biotech (U.S.), Siemens Healthcare (Germany), Bio-Rad Laboratories Inc. (U.S.), Grifols (Spain), bioMérieux (France), Nanosphere Inc. (U.S.), Roche Diagnostics (Switzerland), Bruker Corporation (U.S.), Becton Dickinson & Company (U.S.), Novartis Diagnostics (U.S.), Biomerica, Inc. (U.S.), Meridian Bioscience, Inc. (U.S.), Cepheid Corporation (U.S.), Alere Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.) Cardinal Health (U.S.), Beckman Coulter (U.S.), Danaher Corporation (U.S.), and Trividia Health (U.S.), among others.

July 9, 2020 ---- American company SomaLogic Inc. and Japanese electronics conglomerate NEC Corp. launched a joint venture (JV) to bring the Boulder company’s blood-testing platform to the Japanese market.The JV - FonesLife Corp. will sell the SomaSignal line of tests for broader use in Japan. The testing platform analyzes proteins in a patient’s blood that may signal current health and risk of future diseases, such as heart attacks or stroke. SomaLogic is a privately owned American protein biomarker discovery and clinical diagnostics company. NEC Corp. is a multinational information technology and electronics company.

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