The global Blood Tests Market size was USD 2.50 Billion in 2021 and is expected to register a revenue CAGR of 8.4% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by development of new methods for detecting bloodstream pathogens. In addition, rising prevalence of new pathogens, increasing public health awareness, rising number of blood donations, and surge in Nucleic Acid Amplification Testing (NAT) are other factors driving revenue growth of the market. Pathogen inactivation is an active strategy to inactivate pathogens before they enter the blood supply. Vast majority of pathogen inactivation techniques concentrate on nucleic acids and allow for inactivation of a wide range of pathogens including nucleic acids in plasma, platelets, or red blood cells, potentially lowering risk of sickness associated with transfusion.
Blood transfusions save lives and improve health, but many patients who need them do not have timely access to safe blood. In addition, strict government rules and regulations in each country for provision of safe and adequate blood are expected to facilitate adoption of blood testing in blood banks and medical facilities. Moreover, WHO also recommends that all activities related to collection, testing, processing, storage, and distribution of blood should be coordinated at the national level through effective organizations and integrated blood supply networks. Furthermore, national blood system is governed by a national blood policy and legal framework to promote uniformity and consistent implementation of standards in the quality and safety of blood and blood products. These factors are expected to drive market revenue growth.
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Some Key Highlights From the Report
- The reagents & kits segment is expected to register a rapid revenue growth rate during the forecast period owing to increasing need for specific, reliable, and fast detection of Blood Tests. Most Blood Tests tests use reagents, which are substances or compounds that can accelerate testing procedures including pregnancy tests, blood sugar tests, and other blood tests. Reagents are also commonly used to test for the presence of certain substances in blood. This is because binding of reagents to substances or other related substances causes specific reactions to detect presence of another substance.
- The NAT segment is expected to lead in terms of revenue over the forecast period owing to increasing need for screening blood donations to reduce risk of Transfusion-Transmitted Infections (TTIs). NAT method is fairly accurate and targets viral nucleic acids. A form of molecular screening method called NAT is used in blood donations and other situations to screen blood and lower risk of Transfusion infections (TTIs) in the recipient of blood. In addition, important use of nucleic acid testing is for identification of viral RNA and DNA in blood samples.
- The blood banks segment is expected to register a steady revenue growth rate during forecast period owing to growing number of organ transplantation surgeries. Rising prevalence of transfusion-transmissible illnesses, such as HIV, hepatitis B, hepatitis C, and syphilis, is also expected to drive revenue growth of this segment. There is a global demand for clean and readily available blood owing to risk of spreading deadly diseases, such as HIV and hepatitis, through contaminated blood as well as persistent blood shortages, which further drives demand for Blood Tests procedures.
- The Asia Pacific market is expected to account for largest revenue share in the global market during the forecast period owing to rising prevalence of HIV, kidney, heart, and bacterial diseases in countries such as India and China. There are over 7.8 million people with chronic renal disease in India. Covid-19 pandemic and increased government and private business efforts to boost public confidence and knowledge are also driving market growth. Furthermore, rise in cardiovascular diseases and changes in lifestyle are other factors driving market revenue growth.
Competitive Outlook of the Global Blood Tests Market
The globla Blood Tests market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Blood Tests market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Abbott, GE Healthcare, F. Hoffmann-La Roche Ltd., Grifols, S.A., Thermo Fisher Scientific, Inc., Procter & Gamble, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Enzo Biochem, Inc., and Danaher.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Blood Tests Market Segmentation:
Product and Service Outlook (Revenue, USD Billion; 2019–2030)
- Reagents & Kits
- NAT Reagents & Kits
- Standards and Controls
- Buffers, Nucleotides, and Solutions
- Enzymes and Polymerases
- Probes and Primers
- Labeling and Detection Reagents
- ELISA Reagents & Kits
- Controls
- Substrates
- Immunosorbents
- Conjugates
- Sample Diluents and Wash Solutions
- Instruments
- Rental Purchase
- Outright Purchase
- Software and Services
Technology Outlook (Revenue, USD Billion; 2019–2030)
- ELISA
- Fluorescent Immunoassay
- Chemiluminescent Immunoassay
- Colorimetric Immunoassay
- NAT
- Transcription-Mediated Amplification
- Real-time Polymerase Chain Reaction
- Western Blot Assays
- Rapid Tests
- Next-generation Sequencing
End-user Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Blood Banks
Geographic Segment Covered in the Report:
The Blood Tests report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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