The global blood testing market size was valued at USD 50.9 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2020 to 2027. The growing prevalence of target diseases such as COVID-19, diabetes, and cardiovascular diseases is expected to drive the market at a significant rate. Cardiovascular diseases are among the most fatal disorders and the leading cause of death across the globe. They have become the leading cause of mortality and morbidity in the world in the last three decades. According to a report published by the WHO, cardiovascular diseases account for 17.9 million deaths annually. Moreover, the global prevalence of diabetes is increasing, thus widening the patient pool for glucose testing. According to the International Diabetes Federation, the prevalence of diabetes is expected to increase from 463.0 million people in 2019 to 578.0 million by 2030 and 700.0 million by 2045.
Rising external funding to conduct clinical studies for developing novel innovative diagnostic tests is expected to boost the market for blood testing. In September 2019, DiaMonTech, Berlin raised USD 8.3 million (EUR 1 = USD 1.19) funding to develop a non-invasive blood glucose measurement test. Other startups, such as Livongo, DexCom, BeatO, JanaCare, Senseonics, Sano Intelligence, FeetMe, Bluedrop Medical, Intuity Medical (POGO), and Telcare, have also raised funding for the development of glucose monitoring systems.
A rise in the demand for Point-of-Care (POC) diagnostic tests is anticipated to propel market growth. POC tests allow medical professionals to achieve accurate lab-quality, real-time diagnostic results within a few minutes. Portable blood analyzers have streamlined the diagnostic process and assisted physicians in providing efficient and effective treatments in a faster manner. Moreover, continuous advancements in POC systems are contributing to the rising demand for POC blood testing.
POC testing can potentially improve economic savings in general practices and hospitals operating in remote locations. Moreover, other advantages offered by POC tests such as efficiency, speed of diagnosis and treatment, specimen stability and ease of handling, portability, and improved patient outcomes over laboratory tests are anticipated to increase revenue generation in the market.
A constant rise observed in the prevalence of chronic disorders coupled with an increase in the demand for quick solutions to analyze health conditions is anticipated to boost the demand for regular disease diagnosis. This, in turn, will provide growth opportunities to market players as blood testing is an important way of regularly monitoring diseases.
Moreover, to provide swift services, clinics, hospitals, and other healthcare facilities are providing advanced tests. Improvements in technology and the introduction of economically viable, high-quality medical solutions aimed at achieving lab automation are expected to enhance usage rates of blood testing services, consequently influencing industrial growth.
Glucose testing dominated the blood testing market and accounted for the largest revenue share of 24.2% in 2019. The revenue share was valued at USD 13.1 billion in 2019. This is due to the awareness programs conducted by various diabetes associations coupled with the presence of a number of local and established players in this segment. These players provide several POC and portable meters for blood glucose monitoring which increases revenue generation in the market for blood testing.
The COVID-19 pandemic has encouraged major market players to focus on the development of new innovative products for blood glucose monitoring. For instance, in May 2020, DarioHealth Corp. announced that the FDA has approved the use of self-test blood glucose meters by hospitalized patients with diabetes. This was intended to limit the exposure to the COVID-19 virus by self-checking of blood glucose levels by hospitalized patients and providing information to healthcare personnel.
A1C testing is the fastest-growing segment of the market for blood testing. The adoption of A1C testing is anticipated to rise as A1C has higher pre-analytical stability, and considerable analytical variability when compared to blood glucose. In addition, initiatives taken by key players and communities to increase the efficiency and adoption of A1C tests are attributive to segment growth.
In October 2020, Coastal Bend Community Foundation (CBCF), U.S. announced to provide A1C testing to uninsured patients with the help of the Mayor's Disaster Relief Fund. The initiative was launched as a preventive step to manage the COVID-19 outbreak and also included the distribution of flu shots, COVID testing, and blood pressure checks.
Similarly, in July 2020 ALR Technologies Inc. launched ALRT Prediabetes Solution, a comprehensive diabetes management platform that has the ability to track patients and send them regular reminders for their A1C tests according to payer protocols. The ALRT Prediabetes Solution also offers educational videos and supplemental content for the management of diabetes. The introduction of similar platforms is anticipated to increase the adoption of A1C tests and thereby enhance segment growth.
North America dominated the market for blood testing and accounted for the largest revenue share of 43.8% in 2019. A rise in the number of strategic initiatives being undertaken by government bodies and market players to increase plasma donations across the region is one of the factors expected to fuel the market growth. Blood donation centers across the country are increasing their efforts to collect plasma from individuals who have recovered from the disease.
A few sites such as New York Blood Center, the American Red Cross, AABB, America’s Blood Centers, Armed Services Blood Program, and Blood Centers of America are engaged in collecting plasma and providing information regarding plasma donations. The rising number of blood donations is further anticipated to fuel the demand for testing products for pre- and post-transplant procedures
The Asia Pacific market is anticipated to witness the fastest CAGR by 2027. The rising prevalence of chronic diseases in developing countries such as India and China is a major factor propelling the market growth. In addition, several multinational companies are investing heavily in this region. For instance, in October 2020, Siemens Healthineers announced to expand its COVID-19 and molecular assays manufacturing capacity in India. This new facility in Vadodara, Gujarat will develop antigen, antibody (serology testing), and RT PCR tests for COVID-19 in India.
Continuous research activities in developed Asian economies, such as Japan, are expected to fuel growth. In September 2020, researchers from the National Center for Global Health and Medicine, Japan developed a blood test that could provide early warning for serious COVID-19 cases. The tests have been deployed for 500 prototype machines to check their effectiveness. Such initiatives are likely to boost the growth of the market in the region.
The key players are involved in the development and launch of novel products to increase their market presence. For instance, in September 2020, Roche partnered with SD Biosensor Inc. to launch the SARS-CoV-2 Rapid Antigen Test before the end of September in CE mark regulated markets. The company has also planned to file Emergency Use Authorisation (EUA) with the FDA. In addition, Roche and SD Biosensor had also launched a rapid antibody test for COVID-19 in July 2020. Some of the prominent players in the blood testing market include:
Abbott Diagnostics
Bio-Rad Laboratories Inc.
Roche Diagnostics
Quest Diagnostics
Danaher Corporation
Becton Dickinson & Company
Biomerica, Inc.
bioMérieux S.A.
Siemens Healthcare
Trinity Biotech PLC
Report Attribute |
Details |
Market size value in 2020 |
USD 53.0 billion |
Revenue forecast in 2027 |
USD 84.7 billion |
Growth rate |
CAGR of 6.6% from 2020 to 2027 |
Base year for estimation |
2019 |
Historical data |
2016 - 2018 |
Forecast period |
2020 - 2027 |
Quantitative units |
Revenue in USD million and CAGR from 2020 to 2027 |
Report coverage |
Revenue forecast, competitive landscape, growth factors and trends |
Segments covered |
Test type, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country Scope |
U.S.; Canada; Germany; U.K.; Russia; Turkey; Japan; China; India; Indonesia; Brazil; Mexico; South Africa; Nigeria |
Key companies profiled |
Abbott Diagnostics; Bio-Rad Laboratories Inc.; Roche Diagnostics; Quest Diagnostics; Danaher Corporation; Becton Dickinson & Company; Biomerica, Inc.; bioMérieux S.A.; Siemens Healthcare; Trinity Biotech PLC |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global blood testing market report on the basis of test type and region:
Test Type Outlook (Revenue, USD Million, 2016 - 2027)
Glucose
A1C
Direct LDL
Lipid panel
Prostate-specific antigen
COVID-19
BUN
Vitamin D
Thyroid-stimulating hormone
Serum Nicotine / Cotinine
High sensitivity CRP
Testosterone
ALT
Cortisol
Creatinine
AST
Other tests
Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
U.S.
Canada
Europe
Germany
U.K.
Russia
Turkey
Asia Pacific
China
Japan
India
Indonesia
Latin America
Brazil
Mexico
Middle East and Africa (MEA)
South Africa
Nigeria
b. The global blood testing market size was estimated at USD 50.86 billion in 2019 and is expected to reach USD 53.04 billion in 2020.
b. The global blood testing market is expected to grow at a compound annual growth rate of 6.58% from 2020 to 2027 to reach USD 84.69 billion by 2027.
b. North America dominated the blood testing market with a share of 43.77% in 2019. Key factors attributing to the growth of the market include constantly increasing geriatric population, advanced technological facilities, and the introduction of advanced point of care blood tests.
b. Some key players operating in the blood testing market include Abbott/Alere; Bio-Rad Laboratories Inc.; F. Hoffmann-La Roche Ltd; Quest Diagnostics; Danaher (Beckman Coulter Inc. and Radiometer); Becton Dickinson & Company; Biomerica, Inc.; BioMerieux S.A.; Siemens Healthineers; Trinity Biotech PLC; and Nipro Diagnostics/Trividia Healthcare.
b. Key factors that are driving the blood testing market growth include increasing patient awareness regarding self-testing, increasing demand for at-home diagnostic tests, and early detection of chronic ailments.
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The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.