Blood tests are a standard part of routine and preventive healthcare. A doctor will often order a blood test before or following a physical examination. A doctor may also order blood tests to evaluate specific conditions. Increasing importance and demand for blood testing are anticipated to boost the growth of the global blood testing market in the forthcoming years.
The growth of the global blood testing market is expected to enlarge by increasing the level of awareness amongst patients about various self-testing and home diagnostic tests. As well, patients suffering from diseases like diabetes are anticipated to contribute remarkably toward the development of the global blood testing market. Furthermore, healthcare practitioners have become increasingly dependent on diagnostic care, which is driven by several medical and diagnostic tools. It offers comparable testing accuracy of laboratory tests and reduced turnaround time. This key fact is projected to rise the demand for blood testing, which in turn fuels the growth of the market.
Moreover, growing medical spending by the government and regulatory bodies is projected to drive the market during the forecast period. Government and key organizations are constantly engaged in encouraging patients to undergo regular diagnostic examinations.
Covid-19 Impact on Blood Testing Market
In addition, the current Blood Testing Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Blood Testing Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Blood Testing Market Segment Overview
According to test type, the Glucose segment accounted for the largest revenue share of the global blood testing market in 2020. This can be attributed to the high market penetration of these tests in the global market. COVID-19 pandemic outbreak is projected to offer lucrative opportunities to key players for business expansion and innovative product offerings about glucose monitoring. Moreover, A1C testing also known as glycated hemoglobin testing is expected to witness significant growth in the market due to high convenience. This is a relatively simple blood test that shows the average blood sugar level, helping in the diagnosis of diabetes and monitoring of diabetes treatment. Additionally, the outbreak of the SARS-CoV-2 virus around the world has propelled the global market for blood testing. Several market players are currently engaged in or have developed a serology test/COVID-19 antibody test that uses a blood sample from the suspected individual.
Blood Testing Market, By Test Type
· Glucose
· A1C
· Direct LDL
· Lipid panel
· Prostate-specific antigen
· COVID-19
· BUN testing
· Vitamin D
· Thyroid-stimulating hormone
· Serum Nicotine / Cotinine
· High sensitivity CRP
· Testosterone
· ALT
· Cortisol
· Creatinine
· AST
· Other tests
Blood Testing Market Regional Overview
In terms of region, North America commanded a major share of the global blood testing market. This can be mainly attributed to the availability of high-end diagnostic tools and favorable insurance policies in this region. Similarly, the market in the Asia Pacific is anticipated to witness the fastest CAGR over the forecast period. The growing prevalence of chronic diseases in developing countries such as India and China is a major factor boosting the growth of the market. In addition, several multinational companies are investing heavily in this region, which further supports the blood testing market’s expansion in this region.
Blood Testing Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Blood Testing Market Competitor overview
Some key developments and strategies adopted by manufacturers in Blood Testing are highlighted below.
· In May 2020, DarioHealth Corp., a global digital therapeutics (DTx) innovator, announced that in an effort to reduce contact between healthcare providers and patients in hospital settings, limit COVID-19 exposure, and preserve personal protective equipment, the U.S. Food and Drug Administration (FDA) has recognized that home-use blood glucose meters including Dario's smartphone-connected metering device may be used by patients with diabetes who are hospitalized due to COVID-19 to check their own blood glucose levels and provide the readings to the health care personnel caring for them.
Blood Testing Market, Key Players
· F. Hoffmann-La Roche AG
· Becton Dickinson and Company
· Bruker Corporation
· Siemens AG
· Thermo Fisher Scientific, Inc
· Abbott Diagnostics
· Bio-Rad Laboratories Inc.
· Roche Diagnostics
· Quest Diagnostics
· Danaher Corporation
· Biomerica, Inc.
· bioMérieux S.A.
· Trinity Biotech PLC
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Blood Testing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Test Type
- 5.2.1. Glucose
- 5.2.2. A1C
- 5.2.3. Direct LDL
- 5.2.4. Lipid panel
- 5.2.5. Prostate-specific antigen
- 5.2.6. COVID-19
- 5.2.7. BUN testing
- 5.2.8. Vitamin D
- 5.2.9. Thyroid-stimulating hormone
- 5.2.10. Serum Nicotine / Cotinine
- 5.2.11. High sensitivity CRP
- 5.2.12. Testosterone
- 5.2.13. ALT
- 5.2.14. Cortisol
- 5.2.15. Creatinine
- 5.2.16. AST
- 5.2.17. Other tests
- 5.3. Market Analysis, Insights and Forecast – By Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America, Middle East and Africa
6. North America Blood Testing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Test Type
- 6.2.1. Glucose
- 6.2.2. A1C
- 6.2.3. Direct LDL
- 6.2.4. Lipid panel
- 6.2.5. Prostate-specific antigen
- 6.2.6. COVID-19
- 6.2.7. BUN testing
- 6.2.8. Vitamin D
- 6.2.9. Thyroid-stimulating hormone
- 6.2.10. Serum Nicotine / Cotinine
- 6.2.11. High sensitivity CRP
- 6.2.12. Testosterone
- 6.2.13. ALT
- 6.2.14. Cortisol
- 6.2.15. Creatinine
- 6.2.16. AST
- 6.2.17. Other tests
- 6.3. Market Analysis, Insights and Forecast – By Country
- 6.3.1. U.S.
- 6.3.2. Canada
7. Europe Blood Testing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Test Type
- 7.2.1. Glucose
- 7.2.2. A1C
- 7.2.3. Direct LDL
- 7.2.4. Lipid panel
- 7.2.5. Prostate-specific antigen
- 7.2.6. COVID-19
- 7.2.7. BUN testing
- 7.2.8. Vitamin D
- 7.2.9. Thyroid-stimulating hormone
- 7.2.10. Serum Nicotine / Cotinine
- 7.2.11. High sensitivity CRP
- 7.2.12. Testosterone
- 7.2.13. ALT
- 7.2.14. Cortisol
- 7.2.15. Creatinine
- 7.2.16. AST
- 7.2.17. Other tests
- 7.3. Market Analysis, Insights and Forecast – By Country
- 7.3.1. UK
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Russia
- 7.3.7. Rest of Europe
8. Asia Pacific Blood Testing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Test Type
- 8.2.1. Glucose
- 8.2.2. A1C
- 8.2.3. Direct LDL
- 8.2.4. Lipid panel
- 8.2.5. Prostate-specific antigen
- 8.2.6. COVID-19
- 8.2.7. BUN testing
- 8.2.8. Vitamin D
- 8.2.9. Thyroid-stimulating hormone
- 8.2.10. Serum Nicotine / Cotinine
- 8.2.11. High sensitivity CRP
- 8.2.12. Testosterone
- 8.2.13. ALT
- 8.2.14. Cortisol
- 8.2.15. Creatinine
- 8.2.16. AST
- 8.2.17. Other tests
- 8.3. Market Analysis, Insights and Forecast – By Country
- 8.3.1. China
- 8.3.2. India
- 8.3.3. Japan
- 8.3.4. Australia
- 8.3.5. South East Asia
- 8.3.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Blood Testing Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Test Type
- 9.2.1. Glucose
- 9.2.2. A1C
- 9.2.3. Direct LDL
- 9.2.4. Lipid panel
- 9.2.5. Prostate-specific antigen
- 9.2.6. COVID-19
- 9.2.7. BUN testing
- 9.2.8. Vitamin D
- 9.2.9. Thyroid-stimulating hormone
- 9.2.10. Serum Nicotine / Cotinine
- 9.2.11. High sensitivity CRP
- 9.2.12. Testosterone
- 9.2.13. ALT
- 9.2.14. Cortisol
- 9.2.15. Creatinine
- 9.2.16. AST
- 9.2.17. Other tests
- 9.3. Market Analysis, Insights and Forecast – By Country
- 9.3.1. Brazil
- 9.3.2. Saudi Arabia
- 9.3.3. UAE
- 9.3.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. F. Hoffmann-La Roche AG
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Becton Dickinson and Company
- 10.6. Bruker Corporation
- 10.7. Siemens AG
- 10.8. Thermo Fisher Scientific, Inc
- 10.9. Abbott Diagnostics
- 10.10. Bio-Rad Laboratories Inc.
- 10.11. Roche Diagnostics
- 10.12. Quest Diagnostics
- 10.13. Danaher Corporation
- 10.14. Biomerica, Inc.
- 10.15. bioMérieux S.A.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
