Blood Culture Tests Market worth $6.1 billion by 2025 - Segmentation, Geographical Analysis & Major Key Players

According to the new market research report "Blood Culture Tests Market by Method (Automated, Conventional), Product (Consumable, Media, Instruments), Technology (PCR, Microarray, Proteomic), Application (Bacteremia, Mycobacterial), End User (Hospital, Academic Research) - Global Forecast to 2025", published by MarketsandMarkets™, is projected to reach USD 6.1 billion by 2025 from USD 4.0 billion in 2020, at a CAGR of 8.9%.

Driver: High incidence of blood stream infec tions;

Nosocomial (hospital-acquired) bloodstream infections are one of the leading causes of mortality across the globe. In the US alone, approximately 250,000 cases of hospital-acquired BSIs occur each year. Globally, bloodstream infections affect about 30 million people leading to 6 million deaths, with 3 million newborns and 1.2 million children suffering from sepsis annually. In Eastern African countries, the proportion of patients with bloodstream infections is reported to range from 11% to 28%. In Ghana, bloodstream infection rates are estimated to be in the range of 9.3% to 11.2% (Source: Journal of Tropical Medicine, 2019). The occurrence of these infections increases the overall duration of hospitalization as well as the cost of treatment. With the high incidence of BSIs, the demand for advanced blood culture techniques that help in the early detection of infections is expected to increase.

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The major factors driving the growth of the blood culture tests are increasing number of sepsis cases and high cost of treatment, rising geriatric population, high incidence of bloodstream infections, growth in the demand for rapid diagnostic techniques, and the high prevalence of infectious diseases. On the other hand, factors such as the high cost of automated instruments and a lack of skilled laboratory technicians are limiting the growth of this market.

The consumables segment accounted for the largest share of the blood culture tests market, by product, in 2019.

On the basis of product, the Blood culture test methods market is segmented into consumables, instruments, and software and services. Consumable is the largest and fastest-growing segment, in 2019. This segment is also projected to register the highest CAGR from 2020 to 2025. The recurring requirement of consumables as compared to instruments is the key factor driving the growth of this segment.

Reference Laboratories segment to grow at the highest CAGR in the blood culture tests market during the forecast period

On the basis of end users, the Blood culture test methods market is segmented into hospital laboratories, reference laboratories, academic research laboratories, and other laboratories (includes pathology laboratories, bacteriological laboratories, physician office laboratories, and independent research laboratories). The reference laboratories segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing outsourcing of blood culture tests by hospitals to reference laboratories.

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North America will continue to dominate the blood culture tests market during the forecast period

On the basis of region, the blood culture test market has been segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, Middle East and Africa. In 2019, North America accounted for the largest share of the blood culture tests market. The large share of North America can be attributed to the increasing geriatric population, rising prevalence infections, and the presence of prominent players in the region.

Major players operating in the blood culture tests market include Becton, Dickinson and Company (US), Thermo Fisher Scientific, Inc. (US), bioMérieux SA (France), Luminex Corporation (US), Danaher Corporation (US), Bruker Corporation (US), IRIDICA (US), Roche Diagnostics (Switzerland), T2 Biosystems, Inc. (US), Anaerobe Systems, Inc. (US), OpGen, Inc. (US), Meditech Technologies India Private Limited (India), Carl Zeiss AG (Germany), Nikon Corporation (Japan), BINDER GmbH (Germany), Biobase Biotech (Jinan) Co., Ltd. (China), Scenker Biological Technology Co., Ltd. (China), Bulldog Bio, Inc. (US), Axiom Laboratories (India), and HiMedia Laboratories Pvt. Ltd. (India).

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This release was published on openPR.