Blood Testing Market Projected to Reach USD 148 Billion by 2030, Driven by Technological Advancements and Rising Health Awareness
According to a report by Next Move Strategy Consulting, the global blood testing market was valued at USD 91 billion in 2023 and is projected to reach USD 148 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7% from 2024 to 2030.
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Market Segmentation and Dynamics
The blood testing market is segmented based on test type, product & services, technology, method, disease, and end user.
- Test Type: Includes lipid profile, A1C, CRP, vitamin D, BUN, glucose, ALT, AST, TSH, PSA, cortisol, creatinine, direct LDL, and testosterone tests.
- Product & Services: Comprises reagents & kits, software & services, and instruments.
- Technology: Encompasses nucleic acid tests, western blot assays, and next-generation sequencing.
- Method: Divided into automated and manual methods.
- Disease: Covers anemia, infections, and leukemia.
- End User: Includes clinics, diagnostic centers, hospitals, and research labs.
The increasing prevalence of chronic diseases, advancements in diagnostic technologies, and the growing emphasis on preventive healthcare are driving the demand for blood testing services.
Geographical Insights
North America currently holds the largest share in the global blood testing market, attributed to the presence of major healthcare providers and advanced medical infrastructure. The Asia-Pacific region is expected to witness significant growth due to the rising healthcare awareness, improving healthcare facilities, and increasing prevalence of chronic diseases.
Key Industry Players
Prominent companies operating in the blood testing market include Trividia Health, Siemens Healthcare, Danaher Corporation, Bio-Rad Laboratories, AXIM Biotechnologies Inc., Thermo Fisher Scientific, Abbott Laboratories, BioMérieux S.A., Vault Health, and Cardinal Health. ]
Emerging Trends
- Point-of-Care Testing: The demand for rapid diagnostic tests at the point of care is increasing, enabling timely treatment decisions.
- Integration of Artificial Intelligence: AI is being utilized to enhance the accuracy and efficiency of blood test analyses.
- Wearable Health Devices: The adoption of wearable devices that monitor blood-related parameters is on the rise, contributing to continuous health monitoring.
Conclusion
The global blood testing market is poised for substantial growth, driven by technological advancements, increasing health awareness, and the rising prevalence of chronic diseases. As the healthcare industry continues to evolve, stakeholders must focus on innovation, accessibility, and patient-centric approaches to capitalize on the opportunities presented by this expanding market.
About Next Move Strategy Consulting:
Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every Bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors.
The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry. We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery Solutions that range from the pre consultation to after-sales services, provide an excellent client Experience and ensure right strategic decision making for businesses
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