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Blood Testing Market Size, Share & Trends Analysis Report By Test Type (Glucose, Lipid, COVID-19, A1C, CRP, Vitamin D, ALT, AST, TSH, PSA, Cortisol, Creatinine, BUN, Direct LDL, Testosterone), By Region, And Segment Forecasts, 2021 - 2028

May 2021 | 108 pages | ID: BEA398E0855EN
Grand View Research, Inc.

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Blood Testing Market Growth & Trends

The global blood testing market size is expected to reach USD 140.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.3% from 2021 to 2028. The shortened length of stay at hospitals and reduced contact between patient and concerned physician coupled with the rise in outpatient services have increased the demand for blood testing services. Additionally, the growing prevalence of target diseases such as diabetes, COVID-19, and cardiovascular diseases is expected to drive the market at a significant rate.

The preliminary blood testing techniques employed in medical and wellness settings play a crucial role in the management of patient health and prevention of cardiovascular disorders along with diabetes. However, presently several novel blood tests have been introduced into the market, which detect circulating DNA fragments in the bloodstream to facilitate diagnosis. Such tests, including, cancer and prenatal tests; have gained immediate traction as they are comparatively sophisticated. Thus, expanding research activities to unlock the potential of blood tests is expected to boost the market growth.

On the other hand, several biotech companies are investing in the development of cutting-edge, affordable blood testing products that could be employed each time at a doctor’s visit. For instance, SomaLogic, a company operational in Colorado, has developed the SOMAscan platform. This platform functions by quantifying large amounts of proteins in a blood sample to find relevant health traits in susceptible individuals. The company has already employed this approach to develop tests that detect early signs of heart disorders, liver disease, and diabetes, among few other conditions.

Scientists at Washington University in St. Louis (WUSTL) have recently performed a research activity showcasing a relatively faster and simpler blood testing solution. This blood test is designed to detect Covid-19 patients with higher susceptibility to severe complications or fatality in one day of hospital admission. This product detects mitochondrial DNA levels indicating predictable cell death in the body.

Blood Testing Market Report Highlights
  • The COVID-19 testing segment dominated the market in 2020 owing to higher sales of these tests in comparison with the other segments
  • Higher adoption of at-home glucose tests is anticipated to increase revenue generation in the market, making it the 3rd largest testing segment in 2020
  • High incidence of type I and type II diabetes coupled with the rising risk of hereditary diabetes is among the factors responsible for the higher share of the glucose test segment
  • Furthermore, diabetes monitoring is carried out before any surgical intervention. This increases the usage rate of blood glucose tests
  • The availability of glucose monitoring meters that are reusable and user-friendly also contributes to the growth of the segment
  • North America held the largest revenue share in 2020 and is expected to maintain its share during the forecast period
  • Favorable government initiatives aimed at early disease diagnosis, the presence of well-established healthcare infrastructure, and the local presence of key service providers and instrument manufacturers such as Abbott Laboratories and Laboratory Corporation of America Holdings (LabCorp) in North America are the factors driving the market in the region
  • In Asia Pacific, the market is expected to witness significant growth due to the presence of high unmet diagnostic needs, rapidly rising patient awareness regarding point-of-care diagnostic technologies and rising healthcare expenditure in India and China
  • Growing medical tourism is also boosting the demand for patient monitoring using blood testing services. This positively impacts the blood-testing industry in the Asia Pacific
  • The industry is driven by the presence of several large, mid-sized, and small companies in the region
  • The key players are involved in the development and launch of novel products to increase their footprint. For instance, in August 2020, Trinity Biotech Plc company filed a EUA for COVID 19 testing product-Covid-19 IgG ELISA antibody test-with the FDA
CHAPTER 1 METHODOLOGY AND SCOPE

1.1 Research Assumptions
1.2 Research Methodology
1.3 Information Procurement
1.4 Information or Data Analysis
1.5 Market Formulation & Validation
1.6 Market Model
  1.6.1 Commodity flow analysis
1.7 Global Market: CAGR Calculation
1.8 Objectives
  1.8.1 Objective 1:
  1.8.2 Objective 2:

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
2.4 Market Summary

CHAPTER 3 BLOOD TESTING INDUSTRY OUTLOOK

3.1 Market Trends & Outlook
3.2 Market Segmentation & Scope
3.3 Blood Testing Market Dynamics
  3.3.1 Market driver analysis
    3.3.1.1 Growing prevalence of target diseases
    3.3.1.2 Growing demand for point-of-care tests
    3.3.1.3 Implementation of favorable government initiatives & external funding for R&D activities
    3.3.1.4 Introduction of CLIA waived tests
    3.3.1.5 Rising demand for early disease detection
  3.3.2 Market restraint analysis
    3.3.2.1 Stringent regulatory and reimbursement policies
    3.3.2.2 Limitations associated with blood testing
3.4 Penetration and Growth Prospect Mapping for Test Type (Top 5), 2019 (USD Million)
3.5 Impact of COVID-19 Pandemic on Blood Testing Market
3.6 Business Environment Analysis
  3.6.1 SWOT Analysis; By factor (Political & Legal, Economic and Technological)
  3.6.2 Porter’s Five Forces Analysis

CHAPTER 4 TEST TYPE BUSINESS ANALYSIS

4.1 Market: Test Type Movement Analysis
4.2 Glucose Testing
  4.2.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.3 A1C Testing
  4.3.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.4 Direct LDL Testing
  4.4.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.5 Lipid Panel Testing
  4.5.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.6 Prostate Specific Antigen Testing
  4.6.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.7 COVID-19 Testing
  4.7.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.8 BUN Testing
  4.8.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.9 Vitamin D Testing
  4.9.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.10 Thyroid Stimulating Hormone (TSH) Testing
  4.10.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.11 Serum Nicotine/Cotinine Testing
  4.11.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.12 High Sensitivity CRP Testing
  4.12.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.13 Testosterone Testing
  4.13.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.14 ALT Testing
  4.14.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.15 Cortisol Testing
  4.15.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.16 Creatinine Testing
  4.16.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.17 AST Testing
  4.17.1 Market estimates and forecast, 2017 - 2028 (USD Million)
4.18 Other Blood Tests
  4.18.1 Market estimates and forecast, 2017 - 2028 (USD Million)

CHAPTER 5 REGIONAL BUSINESS ANALYSIS

5.1 Blood testing Market: Regional Movement Analysis
5.2 North America
  5.2.1 Market estimates and forecast, 2017 - 2028 (USD Million)
  5.2.2 U.S.
    5.2.2.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.2.3 Canada
    5.2.3.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
5.3 Europe
  5.3.1 Market estimates and forecast, 2017 - 2028 (USD Million)
  5.3.2 Germany
    5.3.2.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.3.3 U.K.
    5.3.3.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.3.4 Russia
    5.3.4.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.3.5 Turkey
    5.3.5.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
5.4 Asia Pacific
  5.4.1 Market estimates and forecast, 2017 - 2028 (USD Million)
  5.4.2 Japan
    5.4.2.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.4.3 China
    5.4.3.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.4.4 India
    5.4.4.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.4.5 Indonesia
    5.4.5.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
5.5 Latin America
  5.5.1 Market estimates and forecast, 2017 - 2028 (USD Million)
  5.5.2 Brazil
    5.5.2.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.5.3 Mexico
    5.5.3.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
5.6 Middle East & Africa (MEA)
  5.6.1 Market estimates and forecast, 2017 - 2028 (USD Million)
  5.6.2 South Africa
    5.6.2.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)
  5.6.3 Nigeria
    5.6.3.1 Market estimates and forecast, by test type, 2017 - 2028 (USD Million)

CHAPTER 6 COMPANY PROFILES

6.1 Abbott
  6.1.1 Company overview
  6.1.2 Financial Performance
  6.1.3 Product benchmarking
  6.1.4 Strategic Initiatives
6.2 F. Hoffmann-La Roche AG
  6.2.1 Company overview
  6.2.2 Financial Performance
  6.2.3 Product benchmarking
  6.2.4 Strategic Initiatives
6.3 Bio-Rad Laboratories, Inc.
  6.3.1 Company overview
  6.3.2 Financial Performance
  6.3.3 Product benchmarking
  6.3.4 Strategic initiatives
6.4 bioMerieux SA
  6.4.1 Company overview
  6.4.2 Financial Performance
  6.4.3 Product benchmarking
  6.4.4 Strategic Initiatives
6.5 Quest Diagnostics
  6.5.1 Company Overview
  6.5.2 Financial Performance
  6.5.3 Product benchmarking
  6.5.4 Strategic Initiatives
6.6 Biomerica, Inc.
  6.6.1 Company Overview
  6.6.2 Financial Performance
  6.6.3 Product benchmarking
  6.6.4 Strategic Initiatives
6.7 Becton, Dickinson and Company
  6.7.1 Company overview
  6.7.2 Financial performance
  6.7.3 Product benchmarking
  6.7.4 Strategic initiatives
6.8 Siemens Healthineers
  6.8.1 Company overview
  6.8.2 Financial performance
  6.8.3 Product benchmarking
  6.8.4 Strategic Initiatives
6.9 Danaher Corporation
  6.9.1 Company Overview
  6.9.2 Financial performance
  6.9.3 Product benchmarking
  6.9.4 Strategic Initiatives
6.10 Trinity Biotech Plc.
  6.10.1 Company Overview
  6.10.2 Financial performance
  6.10.3 Product benchmarking
  6.10.4 Strategic Initiatives
LIST OF TABLES

Table 1 Funding generated by top glucose monitoring startups
Table 2 Genetic early prostate cancer detection tests
Table 3 Serological tests for COVID-19 detection
Table 4 Table Comparison of various methods of D Dimer Assay
Table 5 North America blood testing market, by test type, 2017 - 2028 (USD Million)
Table 6 U.S. blood testing market, by test type, 2017 - 2028 (USD Million)
Table 7 Canada blood testing market, by test type, 2017 - 2028 (USD Million)
Table 8 Europe blood testing market, by test type, 2017 - 2028 (USD Million)
Table 9 Germany blood testing market, by test type, 2017 - 2028 (USD Million)
Table 10 U.K. blood testing market, by test type, 2017 - 2028 (USD Million)
Table 11 Russia blood testing market, by test type, 2017 - 2028 (USD Million)
Table 12 Turkey blood testing market, by test type, 2017 - 2028 (USD Million)
Table 13 Asia Pacific blood testing market, by test type, 2017 - 2028 (USD Million)
Table 14 Japan blood testing market, by test type, 2017 - 2028 (USD Million)
Table 15 China blood testing market, by test type, 2017 - 2028 (USD Million)
Table 16 India blood testing market, by test type, 2017 - 2028 (USD Million)
Table 17 Indonesia blood testing market, by test type, 2017 - 2028 (USD Million)
Table 18 Latin America blood testing market, by test type, 2017 - 2028 (USD Million)
Table 19 Brazil blood testing market, by test type, 2017 - 2028 (USD Million)
Table 20 Mexico blood testing market, by test type, 2017 - 2028 (USD Million)
Table 21 MEA blood testing market, by test type, 2017 - 2028 (USD Million)
Table 22 South Africa blood testing market, by test type, 2017 - 2028 (USD Million)
Table 23 Nigeria blood testing market, by test type, 2017 - 2028 (USD Million)
LIST OF FIGURES

Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Industry pyramid analysis
Fig. 4 Industry pyramid analysis
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 Industry pyramid analysis
Fig. 8 Market formulation & validation
Fig. 9 Commodity flow analysis
Fig. 10 Blood testing market snapshot, 2020, (USD Million)
Fig. 11 Market trends & outlook
Fig. 12 Blood testing market
Fig. 13 Blood testing market driver impact
Fig. 14 Global age standardized (20-79 years) prevalence of diabetes, by region, (Million)
Fig. 15 Blood testing market restraint impact
Fig. 16 Penetration and growth prospect mapping
Fig. 17 Total number of COVID-19 cases, by country
Fig. 18 Total number of deaths due to COVID-19, by country
Fig. 19 SWOT analysis, by factor (Political & legal, economic and technological)
Fig. 20 Porter’s Five Forces Analysis
Fig. 21 Blood testing market: Test type outlook and key takeaways
Fig. 22 Blood testing market: Test type movement analysis
Fig. 23 Global glucose testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 24 Global A1C testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 25 Global direct LDL testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 26 Global lipid panel testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 27 Global PSA testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 28 Global COVID-19 testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 29 Global BUN testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 30 Global Vitamin D testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 31 Global TSH testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 32 Global Serum nicotine/cotinine testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 33 Global CRP testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 34 Global Testosterone testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 35 Global ALT testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 36 Global cortisol testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 37 Global creatinine testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 38 Global AST testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 39 Global other blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 40 Blood testing market: Regional outlook and key takeaways
Fig. 41 Blood testing market: Regional movement analysis
Fig. 42 North America blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 43 U.S. blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 44 Canada blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 45 Europe blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 46 Germany blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 47 U.K. blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 48 Russia blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 49 Turkey blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 50 Asia Pacific blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 51 Japan blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 52 China blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 53 India blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 54 Indonesia blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 55 Latin America blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 56 Brazil blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 57 Mexico blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 58 MEA blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 59 South Africa blood testing market estimates and forecast, 2017 - 2028 (USD Million)
Fig. 60 Nigeria market estimates and forecast, 2017 - 2028 (USD Million)


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