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Blood Testing Market Size, Share & Segments by Product and Service (Reagents & Kits (NAT Reagents & Kits, Other Reagents & Kits, ELISA Reagents & Kits), By Instruments (Outright Purchase, Rental Purchase), Software & Services), By Technology (Nucleic Acid Test, ELISA, Rapid Tests, Next-generation Sequencing, Western Blot Assays), By End User (Hospitals, Blood Banks), By Regions | Global Market Forecast 2022-2028

Report Id: SNS/HC/1014 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Blood Testing Market Size was valued at USD 2.33 billion in 2021 and is expected to reach USD 4.03 billion by 2028, and grow at a CAGR of 8.1% over the forecast period 2022-2028.

Blood testing is a lab test procedure that determines the state of a patient's health by taking a blood sample from the patient's body with syringes or a fingertip prick. Blood tests can be used to determine how well organs are working. These tests are cheaply priced and are typically performed in clinics and hospitals as a vital checkup for recognizing any mild to severe illnesses, which has an impact on the blood testing market's growth. In recent years, the blood testing industry has experienced tremendous expansion. The influence of the world's aging population is driving the market's expansion. The number of strategic acquisitions and mergers in the global market has recently increased dramatically, causing industry leaders' product portfolios to expand and their marketing power to strengthen.

Blood Testing Market

Additionally, factors such as the expanding use of blood testing in other diagnostic areas and the rise in the occurrences of various diseases like bacterial and viral allergic disorders, cancer, Human Immunodeficiency Virus (HIV) infection, thyroids, genetic disorders, and hepatitis are expected to boost market efficiency over the forecasted period. On the other side, the market's growth will be hampered in the coming years by a lack of awareness of recent advancements, regulatory approval processes, and the high cost of automated blood testing.

MARKET DYNAMICS:

DRIVERS

  • Rise in the number of blood donation

RESTRAINTS

  • Technology alternatives

OPPORTUNITIES

  • Emerging market

CHALLENGES

  • Blood screening devices are expensive. 

IMPACT OF COVID-19:

The beginning of the COVID-19 pandemic has changed clinical consideration conveyance all over the planet. Many hospitals and departments have been re-profiled for treating COVID-19 patients due to increased pressure from the rising rate of COVID-19 hospitalizations. The COVID-19 epidemic prompted worldwide curfews and lockdowns, halting blood donations, canceling collecting drives, and reducing demand for given blood. It modestly affects the market for blood screening. As curfews and social confinement become less severe, a request is probably going to rise, bringing about a market shortage. Governments around the world are, though, taking steps to increase donations during the anticipated period in order to meet the unexpected surge in need following the shutdown.

Furthermore, the number of cancer patients is rising, increasing the demand for donated blood. Blood and platelets are required for cancer patients' treatment (chemotherapy), blood replacement (for blood cancer patients), and surgery.

By Product and Service

Reagents and kits, devices, and software and services make up the blood screening market. In 2021 reagents and kits held the biggest part of the blood screening market, owing to an increase in blood transfusion operations, which resulted in increased consumption and repeated usage of reagents and kits in blood screening processes.

By Technology

The nucleic acid test (NAT), enzyme-linked immunosorbent assay (ELISA), fast tests, western blot assays, and next-generation sequencing (NGS) segments of the blood screening business. The nucleic acid test (NAT) category will account for the majority of the blood screening market by 2020. Reasons like the expanding volume of blood donations and the increasing acceptance of NAT technology due to its higher sensitivity than other blood screening technologies.

By End-User

The blood screening industry is divided into two categories: blood banks and hospitals. The blood banks category held the highest share of the blood screening market in 2021. The increasing number of organ transplant surgeries is propelling this market forward.

COMPETITIVE LANDSCAPE:

Some of the major key players are as follows: Abbott, Bio-Rad Laboratories, Inc., Trinity Biotech Plc, F. Hoffmann-La Roche AG, BioMerieux SA, Biomerica, Inc., Quest Diagnostics, Danaher Corporation, Siemens Healthineers, Becton, Dickinson, and Company.

KEY MARKET SEGMENT:

By Product and Service

1. Reagents & Kits

  • NAT Reagents & Kits
  • Other Reagents & Kits
  • ELISA Reagents & Kits

2. Instruments

  • Outright Purchase
  • Rental Purchase

3. Software & Services

By Technology

1. Nucleic Acid Test

  • Real-time PCR

  • Transcription-mediated Amplification

2. ELISA

  • Fluorescent Immunoassays

  • Chemiluminescent Immunoassays

  • Colorimetric Immunoassays

3. Rapid Tests

4. Next-generation Sequencing

5. Western Blot Assays

By End-User

  • Hospitals
  • Blood Banks

Blood Testing Market

REGIONAL ANALYSIS

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are the five key regions that make up the worldwide blood screening market. North America held the highest share of the blood screening market in 2021. The rise of the North American blood screening market can be due to rising healthcare spending, rising chronic disease prevalence, and the highly developed healthcare systems in the United States and Canada.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

 

Blood Testing Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 2.33 Billion
Market Size by 2028 US$ 4.03 Billion
CAGR CAGR of 8.1% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product and Service (Reagents & Kits (NAT Reagents & Kits, Other Reagents & Kits, ELISA Reagents & Kits)
• By Instruments (Outright Purchase, Rental Purchase), Software & Services)
• By Technology (Nucleic Acid Test, ELISA, Rapid Tests, Next-generation Sequencing, Western Blot Assays)
• By End User (Hospitals, Blood Banks)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Abbott, Bio-Rad Laboratories, Inc., Trinity Biotech Plc, F. Hoffmann-La Roche AG, BioMerieux SA, Biomerica, Inc., Quest Diagnostics, Danaher Corporation, Siemens Healthineers, Becton, Dickinson, and Company.
DRIVING FACTORS • Rise in the number of blood donation
Restraints • Technology alternatives


Frequently Asked Questions (FAQ) :

The blood Testing market is expected to grow at a CAGR of 8.1% over the forecast period 2022-2028.

Technology alternatives are the restraints of the Blood Testing market.

The blood Testing Market is divided into two segments and they are By Product and Service, By Technology, By End User.

The market for Blood Testing was dominated by North America.

Manufacturer and service provider, research institutes, universities, and private libraries, suppliers, and distributors.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Blood Testing Market Segmentation, Product and Service

8.1       Reagents & Kits

8.2       NAT Reagents & Kits

8.3       Other Reagents & Kits

8.4       ELISA Reagents & Kits

8.5       Instruments

8.6       Outright Purchase

8.7       Rental Purchase

8.8       Software & Services

 

9. Blood Testing Market Segmentation, by Technology

9.1       Nucleic Acid Test

9.2       Real-time PCR

9.3       Transcription-mediated Amplification

9.4       ELISA

9.5       Fluorescent Immunoassays

9.6       Chemiluminescent Immunoassays

9.7       Colorimetric Immunoassays

9.8       Rapid Tests

9.9       Next-generation Sequencing

9.10     Western Blot Assays

 

10.       Blood Testing Market Segmentation, By End User

10.1     Hospitals

10.2     Blood Banks

 

11.       Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3     Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4     Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5     The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6     Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12. Company Profiles

12.1 Abbott

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Bio-Rad Laboratories, Inc.

12.3 Trinity Biotech Plc

12.4 F. Hoffmann-La Roche AG

12.5 BioMerieux SA

12.6 Biomerica, Inc.

12.7 Quest Diagnostics

12.8 Danaher Corporation

12.9 Siemens Healthineers

12.10 Becton

12.11 Dickinson and Company

 

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion