Global Blood Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Blood Testing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Perform blood tests to determine a person's health. Blood tests are often used in the field of healthcare to determine organ function, physiological and biochemical status, disease transmission, and drug effectiveness. The increasing importance and demand for blood testing is expected to drive the growth of the global blood testing market in the next few years.

Market Overview:

The latest research study on the global Blood Testing market finds that the global Blood Testing market reached a value of USD 45844.0 million in 2022. It’s expected that the market will achieve USD 67341.84 million by 2028, exhibiting a CAGR of 6.62% during the forecast period.

Influence of COVID-19 Outbreak on Blood Testing Industry Development

Due to lockdowns and restrictions imposed during the pandemic, the number of blood donations and blood transfusion-related screenings has been hit. Due to lockdowns and fear of infection, the number of blood donations has been significantly reduced, which in turn reduces screenings related to blood transfusions. However, since the relaxation of blockade restrictions, the number of blood donations has increased. The American Red Cross has also begun testing all donated blood, platelets and plasma for COVID-19 antibodies to let donors know if they have been exposed to the coronavirus. Since April 2020, FDA commissioners have encouraged COVID-19 survivors to donate plasma. With the increase in the number of plasma donations worldwide, the demand for plasma therapy is rising. All donated plasma must be screened for various infectious diseases and blood type testing. Therefore, this factor is expected to have a positive impact on the blood screening market.
Within 3 months after the first confirmed case, the outbreak of acute respiratory disease caused by the novel coronavirus (SARS-CoV-2) (also known as COVID-19) quickly developed into a global pandemic. Due to the continuous increase in the number of infections, the number of inpatients in the hospital has continued to increase. Complications such as coagulation dysfunction and respiratory failure caused by the virus will increase the demand for blood donation or its components. Especially in the later stages of the epidemic, the ECMO treatment methods adopted in some countries will promote the demand for blood. This has a positive impact on the blood testing market.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

F. Hoffmann-La Roche AG is one of the major players operating in the Blood Testing market, holding a share of 18.22% in 2021.

Roche Diagnostics is a division of Roche. F. Hoffmann-La Roche AG offers the industry’s most comprehensive in-vitro diagnostics solutions, covering molecular diagnostics, clinical chemistry and immunoassays, tissue diagnostics, point of care testing, patient self-testing, next-generation sequencing, and laboratory automation and IT, and decision support solutions.

Abbott Laboratories is an American multinational medical device and healthcare company headquartered in Abbott Park, Illinois, USA. Abbott Laboratories creates breakthrough products-in diagnostics, medical equipment, nutrition and branded generic drugs.

Segmentation Overview:

Among different product types, Glucose segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Blood Testing market covered in Chapter 3:

Siemens
BioMerieux SA
Abbott Laboratories
Thermo Fisher Scientific
F. Hoffmann-La Roche AG
Sysmex
Becton, Dickinson and Company
Illumina
BioRad Laboratories
Danaher

In Chapter 4 and Chapter 14.2, on the basis of types, the Blood Testing market from 2018 to 2029 is primarily split into:

Testosterone
Cholesterol
Vitamin D
Thyroid-stimulating Hormone
Glucose
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Blood Testing market from 2018 to 2029 covers:

Home Tests
Diagnostic Laboratories
Hospitals
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)