Blood Testing Market to 2023: Abbott Laboratories, Biomrieux Marcy Letoile, F. Hoffman-La Roche Ag, Nova Biomedical Corp., Siemens Healthineers, Thermo Fisher Scientific

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"Summary

The global blood testing market was estimated at REDACTED in 2017 and is expected to grow at a CAGR of REDACTED to reach REDACTED in 2023.

The global burden of chronic non-communicable, infectious and lifestyle diseases is rapidly increasing, and many patients suffer from multiple diseases, which leads to morbidity, loss of function and death. Therefore, an early and reliable diagnosis through blood testing is important for the detection, monitoring and treatment of the diseases. This is particularly true considering the continuously expanding parameters which can be tested in blood.

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North America holds the largest share in the blood testing market, followed by Europe, due to high healthcare expenditures, the presence of excellent healthcare facilities and infrastructure, government funding for research and development of newer and innovative products, and the development of technology for rapid and accurate diagnosis of diseases.

The Asia-Pacific region has the highest potential for growth in the blood testing industry during the forecast period owing to the large aging population, the rising incidence of chronic and infectious diseases, blood disorders, cancer, diabetes, cardiovascular diseases, increasing disposable income, awareness about healthcare and disease complications and a growing number of hospitals and laboratories.

Blood testing for oncology is one of the most rapidly developing fields in the market, with the higher incidence of cancers and the development of companion diagnostics and precision medicine for the treatment of these diseases contributing to growth. Genetic testing has achieved significant progress over the years and shows great promise for early cancer diagnosis.

In recent years, there has been a surge in the growth of POCT, which has helped near-patient blood testing and diagnosis, in-home monitoring devices, and real-time tracking of blood glucose levels, lipid levels and blood clotting parameters. This trend is expected to continue with the development of newer technologies that integrate the accuracy and reliability of laboratory testing with the comfort of selfmonitoring. New and exciting studies are being conducted for the development of blood tests that may cause breakthroughs in the diagnosis of diseases; such diagnoses were not previously possible. Blood tests are being developed to detect multiple cancers from a single drop of blood, to detect Alzheimers disease well before the onset of symptoms, to predict pre-term births, and to predict risk of autism and even the prognosis of anti-depressant therapy in patients. Next generation sequencing (NGS) techniques and realtime
sequencing for the diagnosis of complex diseases are set to be the blood testing methods of the future."

"Report Scope:

This study covers the blood tests that are used routinely for screening, monitoring and evaluating by using analyzers (including automated analyzers) and integrated systems. This report also covers home-monitoring devices and test strips and the associated calibration reagents for diabetes and lipid profiles using finger pricks. The report analyzes and assesses therapeutic and screening applications of blood tests for human conditions such as diabetes, heart disease, autoimmune disorders, cancer, blood disorders, hormonal imbalances, infection and pregnancy. Excluded from this study are urinalysis, urine home diagnostic kits and diagnostic testing such as imaging as well as veterinary blood tests and their analyzers.

The report also includes a discussion of the markets major drivers and global dynamics along with the political, economic, social and technological factors that impact the market. The report provides market size estimates for the year 2017 (considered as a base year) and 2018, as well as a forecast through 2023. Market estimates and forecast figures are provided for all major market segments. A discussion of the major players is included in the competitive landscape section, which provides trends in product launches, collaborations, mergers and acquisitions, and other agreements.

The report concludes with a special focus on company profiles and includes detailed profiles of the major vendors in the blood testing market.

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Report Includes:

- 35 data tables and 43 additional tables
- Country specific data and analysis for US, Canada, Mexico, Germany, France, UK, Italy, Spain, Portugal, China, India, Japan, South Korea and Australia
- Analysis of the global market for blood testing, using quantitative and qualitative approaches
- Description of blood tests that are routinely used for evaluating, screening and monitoring by using analysers (including automated analysers) and integrated systems
- Coverage of methods of extraction of blood for blood testing, and discussion of advantages and disadvantages of blood tests
- Detailed study of the regulatory and reimbursement aspect of the industry
- Insight into current trends and recent developments in the blood testing market
- Comprehensive company profiles of major players in the industry, including Abbott Laboratories, Biomrieux Marcy Letoile, F. Hoffman-La Roche Ag, Nova Biomedical Corp., Siemens Healthineers, Thermo Fisher Scientific"

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