Blood Testing Market Size By Test Type (Complete Blood Count Test, Kidney Test- Renal Profile, Cholesterol Test- Lipid Profile Test, Blood Glucose Test, Antibodies Test - Rheumatoid Factor, Urine Test, Infectious Disease Screening, Cancer Test, Heart Test

Blood Testing Market Size By Test Type (Complete Blood Count Test, Kidney Test- Renal Profile, Cholesterol Test- Lipid Profile Test, Blood Glucose Test, Antibodies Test - Rheumatoid Factor, Urine Test, Infectious Disease Screening, Cancer Test, Heart Test), By Product (Instruments, Reagents & Kits, Software), By Method (Manual, Automated), By End-use (Hospitals, Pathology Labs, Blood Banks, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The global blood testing market is estimated to register commendable growth over the forecast period, on account of the rising demand for complete blood count (CBC) tests during the COVID-19 pandemic.

CBC tests count the quantity of white, red, and platelet cells in the blood. Since other blood tests take considerable time to provide results and are expensive, CBCs are gaining preference across healthcare organizations. This rise in demand is also attributed to the rise of blood-related conditions occurring among patients diagnosed with COVID-19.

COVID-19 patients had substantial changes in their peripheral blood cells such as neutrophilia and lymphopenia, creating significant demand for blood testing procedures. As per published data, Ontario-based diagnostic laboratories processed over 50,000 tests daily in December 2021, despite having a limited workforce, in turn benefitting the blood testing industry.

The global blood testing market is segmented in terms of test type, product, method, end-use, and region.

In terms of test type, the market is categorized into complete blood count test, blood glucose test, heart test, infectious disease screening, kidney test-renal profile, cholesterol test-lipid profile test, cancer test, urine test, antibodies-rheumatoid factor, and others. The infectious disease screening segment held a market share of over 10.5% in 2021.

Blood tests are crucial for early detection and diagnosis of infectious disorders such as SARS (severe acute respiratory syndrome), dengue fever, Nipah virus encephalitis, Lyme disease, etc. The rising prevalence of such conditions is thus expected to expedite blood testing market growth from the segment over the forthcoming years.

By product, the blood testing industry is fragmented into reagents & kits, instruments, and software. The software segment registered a revenue of more than USD 7 billion in 2021. This was credited mainly to the surging implementation of software in the lab for management of large sample sizes.

Based on the method, the automated blood testing method held a revenue share of over 69.5% in 2021. Rapid advancements in blood testing devices are among the key factors accelerating market development. Additionally, awareness regarding the accessibility of automated blood testing methods is growing steadily among the population. These factors may consequently assert a positive impact on automated blood testing market trends over the forecast period.

With regards to end-use, the pathology labs segment registered a revenue of over USD 8 billion in 2021. The growing prevalence of various non-communicable and communicable diseases such as cardiovascular disorders, cancer, renal disorders, gastrointestinal disorders, and urological diseases has increased the necessity for efficient disease diagnosis and treatment, accelerating segmental progress over the forthcoming years.

From a regional point of reference, the Middle East & Africa segment accounted for over 5% of the blood testing market share in 2021. Growing awareness regarding recent technological advancements, alongside the rising burden of diabetes and acute disorders is poised to expedite regional industry growth.

Furthermore, the Latin America blood testing market is expected to depict a CAGR of 7.5% through 2030. This growth can be credited to the increased medical tourism across the region.