Global Blood Culture Tests Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
Global Blood Culture Tests Market is expected to reach the market valuation of USD XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX million in 2020. Blood culture tests are done to detect the presence of microorganisms such as bacteria or fungi in the blood. It is used to determine the presence of infection, identify the causative agents and to guide the proper treatment required to a patient. Blood culture testing is used to identify a blood infection (also called septicemia) which if otherwise left undetected can lead to a serious and fatal condition called sepsis. The symptoms of an initial bacterial infection or bacteremia are moderate or high fever, chills, breathlessness, tachycardia, muscular pain, palpitations, nausea, and headache.
The demand for Blood Culture Tests Market is increasing on account of increasing aging population, rise in product approvals and launches, growing number of sepsis cases, high incidence of bloodstream infections (BSI), increase in demand for rapid diagnostic techniques and high prevalence of infectious diseases are driving the market growth. According to the World Health Organization (WHO), about 250,000 cases of BSIs occur in the U.S. annually, and among them, around 80,000 patients in ICUs suffer from catheter-related BSIs.
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In addition, surge in demand for blood culture tests, rise in awareness about healthcare to prevent the risk of infectious diseases, upsurge in government initiatives for development & manufacturing of blood culture tests product and increase in investment in R&D activities by various healthcare companies contribute toward the growth of the market. For instance, F. Hoffmann-La Roche Ltd., a biotech company, invested across $9.27 billion in R&D in 2019.
However, some of the restraints in the market are stringent regulatory procedures for the development and manufacturing of diagnostic products, including blood culture tests products, market cannibalization, and high cost of equipment. Automated blood culture instruments are equipped with advanced features and functionalities and thus are priced at a premium. The cost of automated instruments such as PCR is around USD 10,000 to USD 15,000, and that of MALDI-TOF MS systems is around USD 150,000 to USD 850,000. Academic research laboratories generally cannot afford such high-cost systems as they have limited budgets. In addition, the maintenance costs and several other indirect expenses result in an increase in the total cost of ownership of these instruments. This is a major factor limiting the adoption of automated blood culture instruments, especially among small-scale end users.
Additionally, the growing demand for blood culture tests to analyze specimens, owing to the current outbreak of the COVID-19 pandemic, is acting as another major growth-inducing factor. Laboratories, diagnostic centers, and other healthcare institutes are now increasingly using these tests for detecting the presence of antibodies in the blood and identifying and isolating the infected individuals. Other factors, including the rising health consciousness among the masses, improvements in the healthcare infrastructure and extensive research and development (R&D) activities in the field of medical sciences, are projected to drive the market further.
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In terms of end user, the global blood culture tests market is segmented into hospital laboratories, reference laboratories, academic research laboratories, others. Among them, hospital laboratories end user segment held the largest market share in 2020 and is further projected to maintain its leading position in the market during the forecast period as well owing to rising healthcare awareness along with initiatives by the government and non-government organizations to prevent and control infectious diseases. For instance, the Centers for Disease Control and Prevention (CDC) collaborated with the government of South Africa to develop national HIV clinical and research guidelines, support HIV and TB programs, and conduct epidemiology training.
Reference laboratories is projected to expand at the highest CAGR during the study period, because there is an increase in outsourcing of blood tests by hospitals to reference laboratories.
Additionally, the report provides detailed initiatives that are being taken in the field of blood culture tests. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America is found dominating the market on the back of high prevalence of primary bloodstream infection, sepsis, kidney disorders, and other chronic infections along with associated demand for rapid diagnostic tests. Along with this, presence of well-developed healthcare infrastructure as well as many large healthcare companies such as Becton, Dickinson, and Company; bioMérieux SA; Thermo Fisher Scientific, Inc.; and Roche Diagnostics in the region is making headway for the growth of market. As per the data published by the Centers for Medicare & Medicaid Services (CMS), in the United States, national healthcare spending is projected to grow at an average rate of 5.5% per year during 2018-2027, to reach nearly USD 6.0 trillion by 2027.
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Becton Dickinson and Company, Thermo Fisher Scientific, Inc., bioMérieux SA, Luminex Corporation, Danaher Corporation, Bruker Corporation, IRIDICA, Roche Diagnostics, T2 Biosystems, Inc, Anaerobe Systems, Inc. are some of the prominent players operating in the global blood culture tests market. Several M&A’s along with partnerships have been undertaken by these players to develop new and innovative products
Global Blood Culture Tests Market Segmentation
Market Insight, by Type
- Blood Culture Media
- Assay Kits & Reagents
- Automated Methods
- Automated Blood Culture Systems
- Supporting Laboratory Equipment
- Software and Services
Market Insight, by Method
- Conventional/ Manual Methods
- Automated Methods
Market Insight, by Technology
- Culture-Based Technology
- Molecular Technologies
- Proteomics Technology
Market Insight, by Application
- Mycobacterial Detection
Market Insight, by End-User
- Hospital Laboratories
- Reference Laboratories
- Academic Research Laboratories
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Becton, Dickinson, and Company
- Thermo Fisher Scientific, Inc.
- bioMérieux SA
- Luminex Corporation
- Danaher Corporation
- Bruker Corporation
- Roche Diagnostics
- T2 Biosystems, Inc.
- Anaerobe Systems, Inc.