Blood tests are very often used in health care to understand biochemical and physiological states, mineral content, pharmaceutical drug effectiveness, organ function, disease and also used in drug tests to detect drug abuse. Multiple tests for specific blood components are often grouped together into one test panel called as blood panel or blood work. The function of organs and how well a treatment is working can be determined by blood culture tests.
On the basis of test type
- Complete Blood Count (CBC)
- Basic Metabolic Panel (BMP)
- Erythrocyte Sedimentation Rate
- C-reactive protein (CRP) Test
- Coagulation Test
- Electrolyte Test
- Thyroid Function Test
- Others
On the basis of end-user
- Hospitals
- Clinics
- Diagnostic Center
- Research Labs
- Others
North America dominates the blood testing market reasons being an advancement in technology like the introduction of diagnostic devices providing accurate and rapid results having higher market penetration in this region along with favorable medical insurance policies enhancing market adoption which is attributive for the largest market share.
Also, favorable government initiatives and CLIA waiver on testing devices is also a factor estimated to drive the growth of this market. Asia Pacific is estimated to witness high growth owing to the presence of high unmet medical needs pertaining to target disease segments such as diabetes, cardiovascular disorders, liver diseases, various cancers, and other diseases.
Some of the players in the Blood Testing Market are Abbott Laboratories, Alere, Inc., Becton Dickinson and Company, BioMerieux, Bruker Corporation, Cepheid, Nanosphere, Inc., Roche Diagnostics, Siemens AG, and Thermo Fisher Scientific, Inc. These players are involved in strategic collaborations in order to enhance their market presence. For instance, Quest diagnostics acquired lab-related clinical outreach operations of Dignity Health.
This acquisition provided Quest with patient service centers and associated business of Dignity Health in parts of Nevada and California, further enhancing its regional presence in that sector. Qualcomm Incorporated, a subsidiary of Qualcomm Life Inc. also entered into a strategic collaboration with Roche Diagnostics in order to innovate their remote patient monitoring solutions thus further enhancing the growth of blood testing market.