PUBLISHER: The Business Research Company | PRODUCT CODE: 1391050
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391050
“Blood Culture Tests Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on blood culture tests market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for blood culture tests? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The blood culture tests market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Blood culture tests are diagnostic procedures designed to identify disease-causing microorganisms present in the bloodstream. These tests play a crucial role in detecting infections caused by various microorganisms such as bacteria, yeast, and other foreign invaders in a blood sample.
The primary methods employed in blood culture tests include conventional/manual methods and automated methods. The conventional or manual method is utilized to detect invaders like bacteria, yeast, and other microorganisms in a blood specimen. Manual testing involves the hands-on examination and interpretation of results by skilled testers. Blood culture products encompass consumables, instruments, and software and services that leverage technologies such as culture-based technology, molecular technologies, microarrays, PCR (polymerase chain reaction), PNA-FISH (peptide nucleic acid - fluorescent in situ hybridization), and proteomics technology. These technologies are applied in the detection of bacteremia, fungemia, and mycobacterial infections. Blood culture tests are commonly utilized by hospital laboratories, reference laboratories, academic research laboratories, and other testing facilities.
The blood culture tests market research report is one of a series of new reports from The Business Research Company that provides blood culture tests market statistics, including blood culture tests industry global market size, regional shares, competitors with a blood culture tests market share, detailed blood culture tests market segments, market trends and opportunities, and any further data you may need to thrive in the blood culture tests industry. This blood culture tests market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The blood culture tests market size has grown rapidly in recent years. It will grow from $6.22 billion in 2023 to $6.97 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth observed during the historical period can be attributed to several factors, including the increase in the prevalence of infectious diseases, the aging population, advancements in healthcare infrastructure, and a rise in research and development efforts.
The blood culture tests market size is expected to see rapid growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth in the forecast period can be attributed to factors such as the increasing incidence of hospital-acquired infections, a growing demand for point-of-care (POC) testing, rising healthcare spending, and regulatory approvals. Noteworthy trends expected during this period include the adoption of telemedicine and remote testing, the integration of automation and artificial intelligence (AI) in diagnostic processes, the development of multiplex testing capabilities, advancements in sepsis management, and an increased focus on infectious disease surveillance.
The blood culture test market is anticipated to experience growth attributed to the increasing incidence of infectious diseases. These diseases, caused by various pathogens, pose a significant global health threat, with infectious diseases ranking as the second leading cause of death worldwide, as per the World Health Organization. The demand for blood culture tests has surged due to the rise in infectious diseases like COVID-19, tuberculosis, and HIV, prompting the need for effective diagnosis and management. For instance, the World Health Organization reported approximately 6.4 million deaths from COVID-19 in 2022, emphasizing the critical role of blood culture tests in identifying conditions such as bacteremia/septicemia, which can lead to severe consequences.
The blood culture test market is poised for growth driven by the escalating challenge of antibiotic resistance. Antibiotic resistance, characterized by microorganisms' ability to withstand the effects of antimicrobial drugs, is a growing concern. The UK Health Security Agency highlighted a 2.2% increase in serious antibiotic-resistant infections from 2020 to 2021 in England alone. This rise necessitates heightened diagnostic testing, including blood culture tests, to determine optimal treatment strategies. With 148 daily cases of serious illnesses resistant to antibiotics in 2021, the demand for blood culture tests is expected to surge as healthcare providers seek effective solutions for addressing antibiotic resistance.
Technological innovation emerges as a prominent trend influencing the blood culture test market. In the dynamic landscape of pharmaceuticals, biologics, nutraceuticals, and medical devices, innovation is key to meeting evolving industry requirements. The imperative to bring new products to market efficiently and cost-effectively has led manufacturers to develop cutting-edge blood culture testing technologies. Notably, Labcorp introduced the Labcorp OnDemandTM at-home collection kit in May 2022. This innovative kit utilizes dried blood technology to measure hemoglobin A1c from a small blood sample, providing users with insights into their average blood sugar levels over time. Technological advancements like this not only enhance accuracy and safety but also enable individuals to monitor their health conveniently from the comfort of their homes, fostering the growth of the blood culture test market.
Major players in the organic blood culture tests market are strategically focusing on the development of cutting-edge solutions, exemplified by the introduction of innovative products like MS-based rapid microbial identification kits. These advanced kits represent a paradigm shift in pathogen identification, significantly enhancing the speed and precision of diagnoses. This innovation contributes to more efficient treatment strategies, particularly in addressing bloodstream infections and combating antibiotic resistance within clinical settings. In January 2021, Bruker, a prominent US-based scientific instruments manufacturer, launched an MS-based rapid microbial identification kit. According to Wolfgang Pusch, the executive vice president of microbiology and diagnostics at Bruker Daltonics, this kit allows for the rapid identification of a significantly higher number of microorganisms from positive blood cultures in suspected cases of bacterial or fungal sepsis compared to targeted PCR detection.
In October 2021, Dr. Lal Path Labs, a leading India-based provider of diagnostic and healthcare tests, completed a noteworthy acquisition. The company acquired Suburban Diagnostics for a deal valued at $14.39 million (1150 cr). This strategic acquisition provides Dr. Lal Path Labs with access to 44 laboratories and diagnostics centers, including one CAP-accredited and five NABL-accredited facilities, along with over 150 collection centers. This move is part of Dr. Lal Path Labs' strategic mission to expand its presence in Western India. Notably, Suburban Diagnostics, the acquired entity, is a well-established diagnostics center and pathology lab based in India, marking a significant development in the broader healthcare landscape.
Major companies operating in the blood culture tests market include Becton, Dickinson and Company, BioMerieux SA, Thermo Fisher Scientific Inc., Luminex Corporation, Danaher Corporation, Terumo Corporation, Bruker Corporation, F. Hoffmann-La Roche AG, Biobase Biotech Co. Ltd., Scenker Biological Technology Co. Ltd., Bulldog Bio, Anaerobe Systems Inc., Himedia Laboratories Pvt. Ltd., Autobio Diagnostics Co. Ltd., Axiom Laboratories, Biosystems Inc., BINDER GmBH, Roche Diagnostics, Mikroscan Technologies Inc., Labotronics Ltd., Hardy Diagnostics, OpGen Inc., Meditech Technologies India Private Limited, Siemens Healthineers, Abbott Laboratories, Cepheid, T2 Biosystems Inc., Beckman Coulter Inc., Accelerate Diagnostics, Bio-Rad Laboratories Inc., Hologic Inc., Quidel Corporation, Copan Diagnostics Inc., Greiner Bio-One International GmbH, Carl Zeiss AG, Nanosphere Health Sciences, GenMark Diagnostics, Meridian Bioscience Inc., Nikon Corporation
North America was the largest region in the blood culture tests market in 2023. The regions covered in the blood culture tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the blood culture tests market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The blood culture tests include revenues earned by entities by micro sampling technology and blood chemistry analyzer. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.