Blood Testing Market Size Worth $173.59 Billion By 2032 | CAGR: 7.88%

The blood testing market size is expected to reach USD 173.59 Billion by 2032, according to a new study by Polaris Market Research. The report “Blood Testing Market Share, Size, Trends, Industry Analysis Report, By Test (CBC test, Blood glucose test, Lipid panel testing, Covid-19, BUN testing (Blood Urea Nitrogen), A1C, Cortisol, Creatinine, Others), By Product, By Method, By End-Use, By Region, Segments & Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing prevalence of chronic and infectious diseases, technological advancements in blood testing devices, and the need for point-of-care (POC) testing centers are the prime factors expected to drive the market in the forecast period. 

A blood test is a medical procedure in which a healthcare professional draws blood samples from a patient's vein using a needle, syringe, or another device. Blood tests are used for various purposes, including diagnosing diseases and medical conditions, monitoring the effectiveness of treatments, and evaluating overall health.

The increasing prevalence of chronic and infectious diseases drives demand for blood testing services and products, creating growth opportunities for companies in the blood testing market. Companies that can provide innovative, accurate, and cost-effective solutions to meet the growing demand for blood testing are likely to succeed in this dynamic market.

For instance, as per International Diabetes Federation, India has the highest number of people with diabetes in the world with about 77 million people living with diabetes and was projected to reach a value of 134 million by 2045. The increasing chronic diseases in India and other countries have necessitated blood testing to detect the disease.

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• Blood glucose test is expected to account for the fastest growth rate in the forecast period. The growth of the blood glucose test segment is driven by the rising prevalence of diabetes, technological advancements, increasing awareness of the importance of monitoring blood glucose, and various government initiatives.
• Reagents & Kits are anticipated to dominate the market in the forecast period. A combination of increasing demand for blood transfusions, technological advancements, rising awareness of blood safety, and government initiatives is driving the growth of the reagents and kits segment.
• The automated segment is the fastest-growing segment in the market. A combination of increased efficiency, technological advancements, cost savings, and growing demand for blood testing is driving the growth of the automated blood testing method.
• North America region is projected to account for the fastest growth rate in the forecast period. The growth of the blood testing market in North America is driven by a combination of factors, including the growing prevalence of chronic diseases, technological advancements, strong healthcare infrastructure, increasing focus on preventive healthcare, and favorable reimbursement policies.

Polaris Market Research has segmented the blood testing market by test, product, method, end-use, and region:

Blood Testing Market, Test Outlook (Revenue - USD Billion, 2019 - 2032)

• CBC test
• Blood glucose test
• Lipid panel testing
• Covid-19
• BUN testing (Blood Urea Nitrogen)
• A1C
• Cortisol
• Creatinine
• Others

Blood Testing Market, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Reagents & Kits
• Instruments
• Software

Blood Testing Market, Method Outlook (Revenue - USD Billion, 2019 - 2032)

• Automated
• Manual

Blood Testing Market, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Pathology labs
• Blood banks
• Diagnostic centres
• Others

Blood Testing Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa