San Francisco, 24
October 2018: Global blood testing market is
anticipated to reach USD 62.9 billion by 2024, according to a new report by
Grand View Research, Inc. Growing adoption of testing and screening
methodologies that enhance near patient diagnosis through enhanced blood
testing that reduce diagnostic turnaround times and lower hospitals stay
durations is a major factor expected to provide lucrative growth in demand for
the market.
Federal agencies that
play a major role in regulation of genetic tests, including Centers for
Medicare and Medicaid Services, Food and Drug Administration, and Federal Trade
Commission, have also undertaken initiatives expected to further enhance market
usage of Clinical Laboratory Improvement Amendments (CLIA) compliant tests in
the market. These steps reinforce the goals set by national governments and the
medical fraternities to strengthen early diagnostic capabilities across a
number of key geographic regions.
Increasing levels of
patient awareness that have been witnessed in a number of demographic factions
across developed and developing countries alike is another notable factor
expected to drive growth. Growing prevalence of chronic diseases such as
diabetes that warrant long term disease managementis also a considerable factor
attributive of growth potential over the forecast period.
Access Research Report
of Blood Testing Market@ www.grandviewresearch.com/industry-analysis/blood-testing-market
Further key findings from the study suggest:
· Glucose testing is estimated to be the
dominant segment in 2015 owing to the high number of awareness programs carried
out by various diabetes management focused associations. Presence of several
local and established players in this segment that serve the market with a
broad portfolio of point-of-care and portable meters for blood glucose
monitoring is another factor reinforcing the dominance of this segment.
· Market revenue from of lipid panel tests is
second only to blood glucose monitoring and their strong market position can be
accounted for by higher incidence of cholesterol associated cardiovascular
disorders as a consequence of sedentary lifestyle, need for risk analysis of
cardiac diseases and screening for probability of congestive heart failure.
· Glycated hemoglobin (aka A1C) is
anticipated to witness relatively faster growth among the market segments over
the forecast period owing to associated higher patient convenience, faster
turnaround time, higher accuracy and reliability for testing.
· North America dominated the industry in
2015, with over 40% of total revenue. Technological advancements such as the
introduction of miniaturized diagnostic devices rendering rapid and accurate
results that have higher market penetration in the region coupled with favorable
medical insurance policies enhancing market adoption are attributive for the
largest share. Favorable government initiatives and CLIA waiver on POC testing
devices are also notable factors estimated drive growth.
· Asia Pacific is estimated to witnessthe
fastest growth over the forecast period owing to presence of high unmet medical
needs pertaining to target disease segments such as cardiovascular disorders,
prostate cancer, diabetes, liver diseases, hepatotoxicity, and hyperlipedemia.
· Moreover, constantly improving healthcare
expenditure in developing economies and ongoing initiatives taken by key market
participants to strengthen their presence in these untapped pockets of the
market is expected to drive regional market development through to 2024.
· Key players operating in this industry
includeRoche Diagnostics, Abbott diagnostics, Bio-Rad Laboratories, Becton
Dickinson & Company, Alere, Trinity Biotech PLC, BioMerieux SA, Nipro
Diagnostics, Biomerica Inc, Siemens Healthcare, and Beckman Coulter.
· Introduction of the combination plans and
other promotion programs by the clinics and laboratories which provide complete
analysis of the blood are factors attributive for the projected growth in the
coming years
· These entities are adopting strategies such
as collaborations with hospitalsand diagnostic laboratories in order to provide
online testing services. Such services include ordering a test online, carrying
out the test and submission to the authorized laboratory, and retrieval of the
results via e-mail so as to reduce the number of hospital visits.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/clinical-diagnostics
Grand View Research has
segmented blood testing market on the basis of test type and region:
Global Blood Testing Outlook, by Test Type (Revenue, USD
Million, 2013 - 2024)
·
Glucose testing
·
Lipid panel testing
·
Direct LDL testing
·
Prostate specific antigen testing
·
BUN testing
·
A1C testing
·
High sensitivity CRP testing
·
Vitamin D testing
·
ALT testing
·
Thyroid stimulating hormone testing
·
Creatinine testing
·
Serum nicotine/cotinine testing
·
AST testing
·
Cortisol testing
·
Testosterone testing
·
Other blood tests
Global Blood Testing Regional Outlook (Revenue, USD
Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Blood Testing Market@ www.grandviewresearch.com/press-release/global-blood-testing-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
