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Blood Testing Market 2019-2024 by Product Type, Revenue, Price, Market Share & Size, Vendors, Growth Rate, Analysis

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Blood Testing Market 2019-2024 by Product Type, Revenue, Price, Market Share & Size, Vendors, Growth Rate, Analysis

Blood Testing

This “Blood Testing Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Blood Testing market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The blood testing market is expected to witness rapid growth, due to the increasing need for the identification of infectious agents, cardiovascular diseases, cancer biomarkers, drug abuse, and women’s health issues. A blood test is performed for various indications, such as anaemia, infection, leukaemia, hypokalemia, and kidney. About 70% of the information in the average medical charts is from laboratory diagnostics, which also includes blood tests. Lab diagnostics, relying on diagnostic tests to initiate the treatment of any disease condition, have played a significant role in the growth of the blood testing market.
  • Moreover, increasing technological advancement is also one of the significant factors for the growth of the market. For instance, a couple of Universities in the United States have researched and made remarkable progress in developing new methods and ways of blood testing and analysing the samples. At the University of California, San Diego, the bioengineers have developed a new blood test that could detect cancer and pinpoint the location of the growing tumour.
  • Furthermore, a substantial number of CLIA waived blood tests available in the market are used within a wide range of healthcare settings. This, in turn, has led to the growth in the blood testing practices at out-of-hospital settings, such as home and physician’s offices.
  • The biotechnology company providing diagnostic solutions, i-calQ, has developed a smartphone-based point-of-care integrated mobile diagnosis and decision support system. Biosensor-equipped smartphones are used to quantify, interpret, and record point-of-care diagnostic tests using a drop of blood or saliva, and the results can be interpreted anywhere and at any time. Thus, technological advancement and increasing demand for identification of blood test are two main factors for the growth of the market.

    Blood Testing Market Covers Manufacturers:

  • Abbott Laboratories
  • BioRad Laboratories
  • Baxter International
  • Thermo Fisher Scientific
  • Novartis International AG
  • F. Hoffmann
  • La Roche AG
  • Becton, Dickinson and Company
  • Biomerica Inc
  • BioMerieux SA
  • Cepheid Corporation

    Scope of the Report:

  • As per the , blood testing is an analysis conducted in a laboratory, with the main aim to determine the general state of health, the presence of any harmful bacteria or viruses, and to assess disease progression. Some of the major diseases that require blood testing are Cancer and AIDS/HIV.

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    Key Market Trends:

    Automated Blood Testing is Expected to Hold the Largest Share of the Blood Testing Market, over the Forecast Period

    Advanced technologies have reduced the number of blood vials necessary to perform blood testing. Now, hundreds of different tests can be performed from a single drop. Such a dramatic change has been cost-effective in providing better information for the physician, enabling disease detection at an early stage to initiate immediate treatment. For instance, Tasso Inc. has launched HemoLink, a painless blood collection product for blood sampling, which can be employed in a broad range of diagnostic applications. There are recent technology advances in needle-safety, for e.g., needles that are manually activated after insertion into the vein. Most recent among this allow passive activation of the safety feature, as the blood collection is initiated. Theranos company has launched a blood testing platform where the device uses a finger stick to draw a microlitre sample of blood into a disposable cartridge, which is loaded into the device’s “reader” for analysis; results are sent wirelessly from the reader to a secure database, from where they go online for a patient or patient’s physician to access. All these factors may augment the growth of automated blood testing in the market.

    North American Region Holds the Largest Market Share of the Blood Testing Market

    North America acquired its largest market share with technological advancements such as the introduction of miniaturized diagnostic devices, rendering rapid and accurate test results that have higher market penetration in the region, coupled with favourable medical insurance policies enhancing the market adoption. Favourable government initiatives and CLIA waiver on POC testing devices were also notable factors that estimated the growth.

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    Target Audience of Blood Testing Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Blood Testing Market Report:

    • Analyzing various perspectives of the Blood Testing market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Blood Testing market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Blood Testing market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Blood Testing market studied, during the forecast period
    • The segments that are expected to dominate the Blood Testing market studied.

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