Pune, 23, Nov 2022: According to the most recent Maximize Market Research report, sepsis, bloodstream infections (BSIs), and infectious diseases are expected to have a greater impact on market revenue growth. The Blood Culture Tests Market is expected to grow at a CAGR of 11% and reach USD 10.70 billion by 2029.
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Blood Culture Tests Market Scope and Research Methodology
The research of current market trends and high points in the blood culture tests market will assist clients in discovering opportunities and formulating market strategies. Key market participants and new entrants are looked into for their products and services, revenue, financial situation, portfolio, growth strategies, and regional presence. A clear picture of the competitive landscape in the Blood Culture Tests Market is provided by recent mergers and acquisitions, company strategic stances, and information on joint ventures. To comprehend the products and services of the Blood Culture Tests Market, a segment-by-segment analysis by Product, Technique, Technology, Application and End-use is performed, complete with market-influencing factors and current technological changes and innovations. The report also discusses the Blood Culture Tests Market’s drivers, challenges, restraints, and challenges in great detail. Regional market analysis can be used by market participants and new entrants to develop pricing and marketing strategies at the local, regional, and global levels.
Market estimation and a study of global market trends were conducted using the bottom-up methodology. Data were gathered from a large sample using both primary and secondary research techniques in order to draw accurate conclusions. The main techniques used were surveys, the distribution of questionnaires, and telephone interviews with business owners, marketing specialists, market leaders, and subject matter experts. To ensure that the conclusions were accurate, secondary data was painstakingly compiled from a carefully chosen set of sources. Among the many examples are official databases of various organizations and government websites, industry journals, white papers, annual reports, product manufacturer and supplier releases, and paid databases. PESTLE was used to understand various market factors, while SWOT analysis was used to understand the strengths and weaknesses of key companies. As a result, the report provides a comprehensive analysis of the Blood Culture Tests Market.
Blood Culture Tests Market Overview
Blood culture tests are used to detect the presence of microorganisms such as fungi or bacteria in the blood. It identifies the underlying cause of bloodstream infection and recommends a treatment plan. Two diagnostic tests that are frequently performed in conjunction with blood culture testing are the total blood count and chemical analysis. Blood culture tests are extremely important in the diagnosis of many infectious diseases. The increasing prevalence of infectious diseases and advancements in diagnostic technology is expected to drive market growth. Furthermore, an aging population and the need for rapid diagnosis and treatment are expected to drive the blood culture testing market. According to the World Health Organization, infectious diseases claim the lives of over 17.1 million people worldwide each year. Furthermore, an increase in R&D spending and public awareness of early diagnosis is expected to support market growth during the forecast period. The high cost of breakthrough technology and a shortage of highly qualified personnel are expected to stifle market growth.
Blood Culture Tests Market Dynamics
Nosocomial infections, or bloodstream infections acquired in hospitals, are among the leading causes of death worldwide. In the United States alone, there are over 255,000 hospital-acquired BSI cases each year. Every year, approximately 33 million people worldwide are affected by bloodstream infections, resulting in 6.1 million deaths, 3 million infants, and 1.2 million children developing sepsis. Bloodstream infections are estimated to affect 11 percent to 28 percent of patients in Eastern African countries. In Ghana, bloodstream infection rates are estimated to be between 9.3 percent and 11.2 percent. (According to the Journal of Tropical Medicine, 2019). The frequency of these illnesses increases hospital stays and treatment costs. The growing frequency of BSIs is expected to increase demand for sophisticated blood culture techniques that aid in the early diagnosis of infections.
Increased government initiatives for the development and manufacture of blood culture test products, increased healthcare awareness to reduce the risk of infectious diseases, increased demand for blood culture tests, and rising R&D investment by various healthcare companies all contribute to the market’s growth. F. Hoffmann-La Roche Ltd., for example, spent 10.27 billion on research and development in 2021. Furthermore, the market is expected to grow throughout the forecast period as a result of the implementation of favorable regulatory frameworks for the research and production of advanced diagnostic goods, such as blood culture test products. During the forecast period, the blood culture test market is expected to grow due to an increase in the adoption of new technology.
Blood Culture Tests Market Regional Insights
In 2021, North America will have the largest revenue market share. Because of the presence of numerous major healthcare organizations, such as Becton, Dickinson and Company, bioMérieux SA, Thermo Fisher Scientific, Inc., and Roche Diagnostics. The availability of cutting-edge diagnostics products as well as the presence of highly developed healthcare infrastructure in European countries such as Germany, the United Kingdom, Switzerland, and France are expected to drive market growth in Europe. Furthermore, rising R&D expenditures by manufacturers for the development of new products are expected to fuel growth. Asia Pacific is expected to have the highest CAGR during the forecast period due to its high prevalence of infectious diseases and expanding healthcare infrastructure. Many diagnostic companies are focusing on Asian nations such as China and India for economic growth. Some of the major drivers of the Asia Pacific regional market’s growth include the availability of a large base of target consumers and rising disposable income.
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Blood Culture Tests Market Segmentation
By Product
- Consumables
- Bacterial Infections
- Fungal Infections
- Mycobacterial Infections
- Assay, Kits, and Reagents
- Blood Culture Accessories
- Blood Culture Media
- Aerobic
- Anaerobic
- Fungi/Yeast
- Others
- Instruments
- Bacterial Infections
- Fungal Infections
- Mycobacterial Infections
- Automated Blood Culture Systems
- Laboratory Equipment
- Incubators
- Colony counters
- Microscopes
- Gram stainers
- Software & Services
- Bacterial Infections
- Fungal Infections
- Mycobacterial Infections
By Technique
- Conventional
- Automated
By Technology
- Culture-based Technology
- Proteomic technology
- Molecular Technology
- PCR
- Microarray
- PNA-FISH
By Application
- Bacterial Infections
- Fungal Infections
- Mycobacterial Infections
By End-Use
- Hospital Laboratories
- Reference Laboratories
- Others
Blood Culture Tests Market Key Competitors:
- Becton
- Dickinson and Company
- Thermo Fisher Scientific
- bioMérieux SA
- Luminex Corporation
- Danaher Corporation
- Bruker Corporation
- IRIDICA
- Roche Diagnostics
- T2 Biosystems
- Anaerobe Systems
- OpGen
- Meditech Technologies India Private Limited
- Carl Zeiss AG
- Nikon Corporation
- BINDER GmbH
- Biobase Biotech
- Scenker Biological Technology Co.
- Bulldog Bio
- Axiom Laboratories
- HiMedia Laboratories
Key questions answered in the Blood Culture Tests Market are:
- What is a Histopathology Service?
- What is the growth rate of the Blood Culture Tests Market for the next five years?
- What is the nature of competition in the Blood Culture Tests industry in developed economies and developing economies?
- Who are the key players in the Blood Culture Tests Market?
- Who are the market leaders in Blood Culture Tests in Europe?
- Who are the market leaders in Blood Culture Tests in USA and Canada?
- Who are the market leaders in Blood Culture Tests in India, China, Japan, and South Korea?
- What are the factors affecting growth in the Blood Culture Tests Market?
- Who held the largest market share in the Blood Culture Tests Market?
- What are the factors for the growth of the Asia-Pacific region in the Blood Culture Tests Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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