Market Definition
Blood Culture tests play a essential role in the diagnosis of various infectious diseases. The increasing prevalence of infectious diseases combined with advancements in diagnostic technologies is anticipated to boost market growth. Adding to that, ageing population, demand for rapid analysis and treatment are estimated to fuel the blood culture tests market in future.
Market Outlook
The global blood culture devices market size was USD 4.5 billion in 2021 and it is anticipated to reach USD 8.5 billion in 2031, growing at a rate of 6.4% from 2022-2031.
According to the World Health Organization, every year around 17 million people around the world die owing to infectious diseases. Moreover, an increase in R&D investments and awareness in early diagnosis among the population across the globe is projected to foster the market growth in the near future. However, the lack of skilled professionals and high cost of novel technologies anticipated to hamper the market growth.
The key factors such as high incidence of blood stream infections is likely to boost the growth of the blood culture tests market. Nosocomial (hospital-acquired) bloodstream infections are one of the major causes of mortality across the world. In the US alone, approximately 250,000 cases of hospital-acquired BSIs occur each year. Worldwide, bloodstream infections affect about 30 million people leading to 6 million deaths, with 3 million newborns and 1.2 million children suffering from sepsis annually. In Eastern African countries, the proportion of patients with bloodstream infections is reported to range from 11% to 28%. In Ghana, bloodstream infection rates are estimated to be in the range of 9.3% to 11.2%. The occurrence of these infections raises the overall duration of hospitalization coupled with the cost of treatment. With the rising incidence of BSIs, the demand for advanced blood culture techniques that assist in the early detection of infections is expected to raise.
Likewise, emerging economies like China, India, and other countries in Southeast Asia and countries in the Middle East and Latin America are becoming focal points for the growth of the blood culture tests market. The major growth in these markets can primarily be attributed to the growth in the prevalence of infectious diseases, rapid growth in the geriatric population, the growing number of product approvals, and rising healthcare expenditure. For example, the healthcare expenditure in China increased to 5.35% of the GDP in 2018 from USD 4.88% of GDP in 2015. Such significant spending will result in the adoption of advanced systems, such as automated blood culture systems, among hospital and reference laboratories in these regions. This, in turn, is likely to provide potential growth opportunities for players operating in the blood culture tests market in the upcoming years.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Blood Culture Tests Market Segmentation
The report analyses the blood culture tests market based on type, product, technology, application, end-user, and regions.
Global Blood Culture Tests Market by Type
On the basis of type, it is segmented into conventional/manual methods, and automated methods. The conventional/manual methods segment is likely to dominate the market during the forecast period. The key factors such as growing number of sepsis cases coupled with high cost of treatment is likely to boost the growth of the market. Similarly, rising geriatric population is also refueling the growth of the global blood culture tests market.
Global Blood Culture Tests Market by Product
On the basis of product, it is segmented into consumables, instruments, and software and services. The consumables segment is estimated to dominate the market during the forecast period 2022-2031. The key factors such as frequent demand of consumables as compared to instruments is the key factor driving the growth of this segment.
Global Blood Culture Tests Market by Technology
On the basis of technology, it is segmented into culture-based technology, molecular technologies, microarrays, PCR, PNA-FiSH, and proteomics technology. The culture-based technology segment is likely to dominate the market during the forecast period. The key factors such as increase in prevalence of infectious diseases, bloodstream infections, and sepsis, and surge in demand of diagnostic tests are the key factors that drive the growth of the market.
Global Blood Culture Tests Market by Application
On the basis of application, the market is segmented into bacteremia, fungemia, and mycobacterial detection. The bacteremia segment is likely to dominate the market during the forecast period. The increasing number of bloodstream infections and the rising number of sepsis cases across the globe is propelling the growth of the market.
Global Blood Culture Tests Market by End User
On the basis of end users, it is segmented into hospital laboratories, reference laboratories, academic research laboratories, and other laboratories. The hospital laboratories segment is likely to dominate the market during the forecast period. The key factors such as increasing aging population, rise in product approvals and launches combined with growing number of sepsis cases, high incidences of bloodstream infections, increase in demand for rapid diagnostic techniques and high prevalence of infectious diseases are boosting the growth of the market.
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Major Players of the Global Blood Culture Tests Market
The global blood culture tests market report includes such as Becton, Dickinson and Company (US), Thermo Fisher Scientific, Inc. (US), bioMérieux SA (France), Luminex Corporation (US), Danaher Corporation (US), Bruker Corporation (US), IRIDICA (US), Roche Diagnostics (Switzerland), T2 Biosystems, Inc. (US), Anaerobe Systems, Inc. (US), OpGen, Inc. (US), Meditech Technologies India Private Limited (India), Carl Zeiss AG (Germany), Nikon Corporation (Japan), BINDER GmbH (Germany), Biobase Biotech (Jinan) Co., Ltd. (China), Scenker Biological Technology Co., Ltd. (China), Bulldog Bio, Inc. (US), Axiom Laboratories (India), and HiMedia Laboratories Pvt. Ltd. (India)
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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