Top Players Operating in Blood Testing Market like Baxter International, Abbott Laboratories Inc., Gen-Probe, Inc., Becton Dickinson & Company, Novartis Diagnostics

Industry Report “Blood Testing Market Research Report - Forecast to 2023” Provides detail information about strategies used by top key players in the market. The report also gives a broad study of the different market segments and regions with Size, Share and Forecasts.

Blood Testing Market - Highlights

The global blood coagulation testing market is growing pervasively and rapidly. The increasing prevalence of liver disease, thrombophilia, and hemophilia is a major driving force behind the market growth.

Also, the growing incidences of liver failure cases foster the market growth, driving the demand for blood coagulation testing. Furthermore, great technological strides being made in testing devices and substantial investments transpired into R&D activities are in turn, paying off well, escalating the market, globally.

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Leading Key Players

The global blood Testing market is led by some of the fervent players including Baxter International (US), Abbott Laboratories Inc. (US), Gen-Probe, Inc. (US), Becton Dickinson & Company (US), Novartis Diagnostics (US), Biomerica, Inc. (US), Cepheid Corporation (US), Meridian Bioscience, Inc. (US), Trinity Biotech (US), Siemens Healthcare (Germany), Bio-Rad Laboratories Inc. (US), Grifols (Spain), bioMérieux (France), Nanosphere Inc. (US), Roche Diagnostics (Switzerland), Bruker Corporation (US), Alere Inc. (US), Thermo Fisher Scientific Inc. (US) Cardinal Health (US), Beckman Coulter (US), Danaher Corporation (US), and Trividia Health (US)

Market Growth and Analysis

Acknowledging the exponential growth, the market perceives currently Market Research Future (MRFR), in its recently published study report asserts that the global blood coagulation testing market will grow exponentially by 2023, registering approximately 6.5% during the assessment period (2017 – 2023).

Additionally, factors such as the ever-increasing population, sedentary lifestyle, and urbanization support the market growth. Improving economic conditions substantiate the market growth, availing access to excellent healthcare and increasing the healthcare expenditures.

On the flip side, high costs of these tests and poor reimbursement policies are impeding the market growth, especially in the developing regions. Besides, the unmet clinical needs alongside the unavailability of external funding are obstructing the market growth.

Global Blood Testing Market – Segments

The MRFR analysis is segmented into five key dynamics for the convenience of understanding;

By Test Types : Complete Blood Count, Blood Chemistry Tests, and Enzyme Tests among others.

By Diseases : Anemia, Infection, and Leukemia among others.

By Methods : Manual, and Automated among others.

By End-Users : Hospitals, and Diagnostic Center among others.

By Regions : North America, Europe, APAC and the Rest-of-the-World (RoW).

Global Blood Testing Market – Regional Analysis

The North America market is expected to retain its dominance over the global blood testing market with the largest market share. A well-developed healthcare sector, increasing prevalence of chronic diseases such as diabetes and cancer especially in the US & Canada along with the high per capita healthcare expenditures drive the market growth in the region.

This market will create a substantial revenue pocket registering a substantial CAGR throughout the forecast period (2017-2023). Furthermore, the presence of prominent market players impacts the market growth positively.

Europe & Asia Pacific region accounts for the second & third largest market respectively for the blood test. The European blood testing market is growing due to the increasing awareness of chronic infectious diseases, the initiatives undertaken by private and public organizations, and well-spread awareness towards keeping the good health.

The Asia Pacific region is emerging as one of the promising markets for the blood testing. This attributes to the increasing healthcare expenditures and favorable government policies of developing economies like India and China.

Factors substantiating the market growth in the APAC region include the substantial funds transpired into R&D activities, huge patient population, well-developed healthcare infrastructure, and government support. Simultaneously, economies having high healthcare expenditures such as India, China, and Japan propel the market growth in the region.

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Competitive Analysis

The market for blood testing appears fragmented and fiercely competitive due to many large and small players churning the competition in the market. Through the strategic partnership, acquisition, expansion, product & technology launch, and collaboration, these players try to gain the competitive edge.

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This release was published on openPR.