Blood Testing Equipment Market Analysis, Growth Factors, Drivers & Restraints, Opportunities and Future Developments by 2028

The growing requirement for safe blood and blood products by healthcare organizations is driving the growth of blood testing equipment market. Also, the growth in clinical diagnostics sector along with the innovative developments in the microbiology is creating the demand for blood testing equipment market. Blood testing equipment is used to examine the blood for different parameters such as to count the number of different types of white and red blood cells, hemoglobin, and blood platelets in the blood sample.

Growing Demand for Blood Testing Equipment by Diagnostic Centers and Clinical Laboratories

Blood testing equipment is an important equipment in most of the laboratories in healthcare organizations across the globe to meet the specific requirement for clinical and blood banking. Rapid developments in various sectors such as microbiology, forensics, and diagnostics research is resulting in high adoption of blood testing equipment in hospitals and diagnostic centres for the treatment of diseases at molecular level.

In addition, government of various emerging countries are investing heavily in development of healthcare infrastructure which further creates potential growth opportunities for blood testing equipment market. All these factors are contributing immensely in the growth of blood testing equipment market.

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Growing Prevalence of Chronic Diseases Creating High Demand

The growing aging population and the increasing prevalence of various diseases such as cancer, genetic disorder, and HIV infections are the major factors driving the growth of blood testing equipment market. Also, the increasing demand for point of care testing and enhanced near patient diagnostics are generating the demand of blood testing equipment market. Furthermore, the increase in geriatric population and advancements in medical technology for donor screening are creating potential growth opportunities for blood testing equipment market.

Stringent Regulations and Increasing Research & Development Expenditure

Government and Federal authorities are playing a crucial role in the growth of blood testing equipment market. Increasing standards and regulations are expected to enhance the adoption of clinical laboratory testing equipment which further generates the demand for blood testing equipment. For instance, U.S. Food and Drug Administration (FDA) regulates the testing, processing, collection, and other aspects of the blood system. Apart from this, increasing research & development expenditure along with the technological advancement and innovation in testing tools and equipment are playing an important role in boosting the growth of blood testing equipment market.

Blood Testing Equipment Market: Segmentation

Segmentation of Blood Testing Equipment Market on the Basis of Product Type:
Incubator
Photo Colorimeter
Haemoglobin Meter
Blood Cell Counter
Others

Segmentation of Blood Testing Equipment Market on the Basis of End Use:
Hospitals & Clinics
Community Blood Banks
Research and Development Organisations
Ambulatory Surgical Centers
Others

Blood Testing Equipment Market: Competition Landscape

Key Players

Prominent players in the global blood testing equipment market are Becton Dickinson & Company, Genteel, Baxter International, Cepheid Corporation, Gen-Probe, Inc., Biomerica, Inc., Meridian Bioscience, Inc., Alere, Inc., Trinity Biotech, TaiDoc Technology Corporation, and Getein Biotech, Inc.

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Blood Testing Equipment Market: Regional Overview

On the basis of geography, North America is expected to capture the significant market share in terms of revenue in the blood testing equipment market, owing to the presence of various key blood testing equipment providers in the region and increasing adoption of advanced blood testing equipment and diagnostic equipment. Europe is also expected to capture substantial market share in terms of value in blood testing equipment market owing to the growing aging population and increasing spending on research and development sector. Furthermore, the blood testing equipment market in Asia Pacific is expected to witness high growth rates in coming few years due to the rapid development in healthcare sector and rapid expansion of diagnosis laboratories in the region. Moreover, Middle East & Africa and Latin America are also expected to witness high growth rates in blood testing equipment market due to the rising prevalence of chronic diseases in various countries in the region.

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This release was published on openPR.