Blood Virus Testing Market Growing Incidence of Blood Borne Viral Infections across the Globe

According to Precision Business Insights (PBI), the latest report, the blood virus testing market was valued at USD 15,602.3 million in 2022 and is expected to grow at a 6.4% CAGR during the forecast period 2023 to 2029. The primary drivers of the expansion of the global blood virus testing market include the increasing prevalence of blood-borne viral infections, along with the innovation in diagnostic technologies. In addition, growing demand for blood and blood-derived products are expected to propel the growth of blood virus testing market.

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Hospitals Segment is expected to Dominate the Blood Virus Testing Market
Based on the end-user, the global blood virus testing market is segmented into hospitals, diagnostic centers, clinics, ambulatory surgical centers, others. The Hospital segment is expected to account for a larger revenue share in the global blood virus testing market. Large patient base and high prevalence of infectious disease in this segment is expected to drive the market growth in this region. In addition, blood tests are one of the most performed procedures in every hospital owing to its ability to detect infection and auto immune disorder in early stages which are expected to propel the growth of the blood virus testing market in this segment over the forecast period.

The blood virus testing market is segmented based on Virus Type, Test Type, End User, and geography.
Based on the Virus Type, the market is segmented into the following:
• Hepatitis viruses
• Human Immunodeficiency Virus
• Human T-Lymphotropic Virus
• Others

Based on the Test Type, the market is segmented into the following:
• Full Blood Count Test
• Test for Inflammation
• Immunology Test
• Liver Function Test
• Others

Based on the end user, the market is segmented into the following:
• Hospitals
• Diagnostic Centers
• Clinics
• Ambulatory Surgical Centers
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

North America Blood Virus Testing Market
The North America blood virus testing market is expected to increase over the forecast period owing to presence well-established healthcare infrastructure in this region. In addition, increasing awareness among the people and growing healthcare expenditure are expected to boost the growth of blood virus testing market in this region. Furthermore, increasing incidence of Hepatitis B and C infection and other blood borne infections are expected to increase the demand for blood derived products in this region over the forecast period. moreover, favorable reimbursement policies and presence of leading market players are expected to drive the growth of blood virus testing market in this region.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Blood Virus Testing market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Key players profiles in the blood virus testing market report are BioMérieux, Bio-Rad Laboratories, Abbott, Randox Laboratories, F. Hoffmann-La Roche, Thermo Fisher Scientific, Omega Diagnostics Group, OraSure Technologies.

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This release was published on openPR.