Blood Testing Market Size, Business Revenue Forecast, Leading Competitors
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.
Recognizing the exponential growth, the market perceives
currently and gauging the potential the market holds to grow in the years to
come; Market Research Future (MRFR), in its recently published market forecast
asserts that the global blood
testing market will grow exponentially by 2023, registering approximately
5.5% during the review period (2017 – 2023). 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.
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Key Players:
The global blood Testing market is led by some of the
fervent players including Baxter International (US), Abbott Laboratories Inc.
(US), Gen-Probe, Inc. (US), Becton Dickinson & Company (US), Novartis
Diagnostics (US), Biomerica, Inc. (US), Cepheid Corporation (US), Meridian
Bioscience, Inc. (US), Trinity Biotech (US), Siemens Healthcare (Germany),
Bio-Rad Laboratories Inc. (US), Grifols (Spain), bioMérieux (France),
Nanosphere Inc. (US), Roche Diagnostics (Switzerland), Bruker Corporation (US),
Alere Inc. (US), Thermo Fisher Scientific Inc. (US) Cardinal Health (US),
Beckman Coulter (US), Danaher Corporation (US), and Trividia Health (US)
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.
Global Blood Testing Market – Segments
The MRFR analysis is segmented into five key dynamics for
the convenience of understanding;
By Test Types
: Complete Blood Count, Blood Chemistry Tests, and Enzyme Tests among
others.
By Diseases
: Anemia, Infection, and Leukemia among others.
By Methods
: Manual, and Automated among others.
By End-Users :
Hospitals, and Diagnostic Center among others.
By Regions
: North America, Europe, APAC and
the Rest-of-the-World (RoW).
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.
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About Market Research Future:
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Contact:
Akash Anand
Market Research Future
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