High demand for rapid diagnostic tests, increasing investments for developing enhanced blood culture tests

NEW YORK, NEW YORK, UNITED STATES, September 3, 2021 /EINPresswire.com/ -- The global blood culture tests market size is expected to reach USD 7,709.6 Million in 2028 and register a CAGR of 8.3%, according to the latest report by Reports and Data. Increasing occurrence of Bloodstream Infections (BSI), sepsis and other infectious disorders, and increasing geriatric population are key factors driving global market revenue growth.

A blood culture test is performed in order to detect presence of bacteria, fungus, or other microorganisms that can otherwise lead to several severe infections. Blood culture tests are used to identify blood infection and is often carried out in conjugation with other diagnostic tests. Technological advancements in medical sector, well-established healthcare and diagnostic systems, and rising prevalence of several infectious diseases and increasing risks of sepsis are fueling growth of the blood culture tests market. In addition, increasing investments by well-known healthcare companies and government initiatives related to prevention and control of infectious diseases are key factors boosting global market growth.

However, dearth of skilled professionals, stringent government rules for developing and manufacturing diagnostic products, and high costs associated with automated equipment are key restraints that are expected to hamper overall market growth going ahead.

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Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2028.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

Key highlights in the report:

• The consumables segment is expected to account for largest revenue growth between 2021 and 2028. Constant requirement of various consumables owing to increasing rate of infectious diseases across the globe is boosting segment revenue growth.

• Based on technology, molecular technology is projected to account for significant revenue growth over the forecast period owing to rising demand for several molecular techniques in pathology laboratories, hospitals, and reference laboratories.

• The automated blood culture technique is expected to register rapid revenue CAGR during the forecast period owing to quick and accurate results, introduction of advanced products and techniques along with increasing investments in R&D.

• Among the end-use segments, the hospital laboratories segment is expected to account for highest revenue growth over the forecast period. High prevalence of infectious diseases and hospital-acquired infections, and availability of advanced diagnostic kits and techniques.

• The blood culture tests market in Asia Pacific is expected to register highest CAGR over the forecast period. High demand for enhanced diagnostic techniques, high patient pool, increasing investments in research and development activities, rising disposable income, and improving healthcare infrastructure are key factors boosting market revenue growth in APAC.

• Europe is expected to account for significant revenue growth during the forecast period owing to technological advancements, well-established healthcare systems, availability of advanced diagnostic products, and high investments in research and development activities.

• Thermo Fisher Scientific, Inc, Becton Dickinson and Company, bioMérieux SA, Cepheid, Inc, Nanosphere, Inc., IRIDICA, Beckman Coulter, Bruker Corporation, and T2 Biosystems are some of the leading companies operating in the global blood culture tests market.

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For this study, Reports and Data has segmented the global blood culture tests market based on product, method, technology, application, end-use, and region:

Product Outlook (Revenue, USD Billion, 2020 - 2028)

• Consumables
o Blood Culture Media
o Aerobic Blood Culture Media
o Pediatric Blood Culture Media
o Anaerobic Blood Culture Media
o Fungi/Yeast Blood Culture Media
o Mycobacteria Blood Culture Media
• Assay Kits and Reagents
• Blood Culture Accessories
• Instruments
o Automated Blood Culture Systems
o Supporting Laboratory Equipment
o Incubators
o Colony Counters
o Microscopes
o Gram Stainers
• Software & Services

Method Outlook (Revenue, USD Billion, 2020 - 2028)

• Conventional/Manual Blood Culture Method
• Automated Blood Culture Method

Technology Outlook (Revenue, USD Billion, 2020 - 2028)

• Culture-based Technology
• Molecular Technology
• Microarray
• PCR
• PNA-FISH
• Proteomic Technology

Application Outlook (Revenue, USD Billion, 2020 - 2028)

• Bacterial Infections
• Fungal Infections
• Mycobacterial Infections

End Use Outlook (Revenue, USD Billion, 2020 - 2028)

• Hospital Laboratories
• Reference Laboratories
• Others

Regional Outlook (Revenue, USD Billion, 2020 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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