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), By Product, By Metho

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), By Product, By Method, By End-use, Global Forecast 2023 - 2032

Blood Testing Market size is poised to depict 6.7% CAGR from 2023-2032 driven by the surging demand for complete blood count (CBC) tests during the COVID-19 pandemic.

CBC tests have proven essential in determining the general health of patients and identifying possible infections, leading to their increased adoption for blood diagnostics in healthcare. With the rising count of COVID-19 patients, the growing concerns of substantial changes in peripheral blood cells, such as lymphopenia and neutrophilia significantly soared. According to previously disclosed data, despite the workforce shortage, diagnostic laboratories in Ontario conducted about 50,000 tests each day in December 2021. This increasing demand for CBC tests among COVID-19 patients proved favorable for the industry growth.

The overall blood testing market is segmented based on test type, product, method, end-use, and region.

With respect to test type, the blood testing market size from the infectious disease screening segment is estimated to depict robust growth through 2032. Blood testing is necessary for the early identification and diagnosis of new infectious illnesses, such as SARS, dengue fever, Lyme disease, Nipah virus encephalitis, and others. The high prevalence of such infectious illnesses, in addition to the developments in diagnostic technology, will drive the segment expansion. For instance, in May 2022, Becton, Dickinson, and Company launched its innovative, fully automated infectious disease molecular diagnostics platform in the U.S.

In terms of end-use, the blood testing market value from the pathology segment is estimated to expand at notable CAGR from 2023 to 2032. The growing incidence of various communicable and non-communicable diseases, such as cancer, cardiovascular disease, gastrointestinal disorders, renal disorders, and urological difficulties have resulted in the need for effective diagnosis and treatment of the diseases. With healthcare systems prioritizing preventive care and personalized medicine, pathology laboratories are expected to be at the forefront of diagnostic and screening services.

Regionally, Europe held sizable share of the blood testing market in 2022 and is set to record substantial growth through 2032. The rising geriatric population base and the substantial prevalence of diabetes along with complications related to it will increase the rate of blood testing regionally. According to estimations presented by the European Parliament on World Diabetes Day 2022, over 32 million individuals in the EU suffer from diabetes. Moreover, the stringent healthcare regulations and the focus on preventive care is leading to the higher adoption of diagnostic services. Increasing innovations in blood testing technologies and the higher commitment to R&D activities will also contribute to the market growth.