Blood Testing industry is anticipated to register 6.5% CAGR between 2022 and 2030 owing to growing burden of chronic and infectious diseases.
Selbyville, Delaware , Sept. 26, 2022 (GLOBE NEWSWIRE) --
The blood testing market value is set to reach USD 123 billion by 2030, according to a new research report by Global Market Insights Inc. Rising number of point-of-care testing (POCT) centers will spur the market expansion.
POCT includes fecal occult blood analysis, rapid coagulation testing, blood glucose testing, blood gas & electrolytes analysis, and pregnancy testing, among others. It is a diagnostic procedure that enables healthcare professionals to obtain accurate, lab-quality real-time diagnostic results within minutes. These features, alongside the portability and ease of accessibility of these tests is expected to contribute to industry progress.
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Growing prevalence of NCDs will propel the adoption of complete blood count test
Blood testing market from complete blood count test segment surpassed USD 10 billion in 2021, on account of the substantial growth in the incidence of NCDs (non-communicable diseases). As per the World Health Organization (WHO), cardiovascular disease is the primary cause of most NCD-related deaths (17.9 million) followed by malignancies, respiratory illnesses, and diabetes. The rising prevalence of NCD is likely to increase demand for comprehensive blood testing solutions.
Rising software integration in pathology labs to support industry expansion
Blood testing market from software segment was valued at more than USD 7 billion in 2021. The growing integration of software in the laboratory for managing large sample sizes is one of the major factors propelling market development. Citing an instance, BioMerieux unveiled CLARION,a software-as-a-service (SaaS) solution for diagnosing infectious diseases and connects the diagnostic data, in the United States in 2020. Developments such as these are expected to assert a positive impact on industry dynamics.
Browse key industry insights spread across 275 pages with 223 market data tables & 15 figures & charts from the report, “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), Product (Instruments, Reagents & Kits, Software), By Method (Manual, Automated), End-use (Hospitals, Pathology Labs, Blood Banks, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents: