A new report by Transparency Market Research, titled “Blood Testing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” is a thorough evaluation on the major trends and the key technological advancements taking place within the market. The report also encapsulates the micro and macro factors impacting the established players and the upcoming players in the market for blood testing.
A forward-moving perspective of the various factors stimulating and restraining the development of the market has been collated under this study. The report also comprises a six-year forecast and assessment of the market on the basis of its growth prospects. The competitive landscape section of this study comprises the major players dominant in the market and their key product introductions in the global blood testing market.
In the first section of the report, the definition of blood testing has been presented. Blood testing usually takes place by collecting a small sample of blood by using finger prick or needle from the human body. It is a type of laboratory-based evaluation performed for determining the general state of human health. Factors such as the presence of viruses or bacteria and any disease progression taking place in the human body are evaluated by carrying out this test. Blood testing is also performed for the assessment of the functioning of vital organs in the human body such as the kidneys, liver, and thyroid gland.
As per the report, the blood testing market is flourishing owing to the increasing occurrence of a number of diseases such as cancer, thyroids, human immunodeficiency virus (HIV) infection, and viral allergic and genetic disorders. The increasing utilization of blood testing within other diagnostic areas is also fuelling the demand for blood testing. In addition, the increasing demand for point of care testing (POCT) is also propelling the growth of the blood testing market.
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The growing count of technical advancements have resulted in cutting-edge testing equipment and tools such as automated blood collection equipment, further augmenting the development of the market for blood testing. On the other hand, the limited knowledge and absence of awareness about the advanced technologies in blood testing and the increasing ignorance in the adoption of new technologies may inhibit the growth of the market in the coming years.
By geography, the report segments the market into Europe, Asia Pacific, North America, and Rest of the World (RoW). Of these, North America led the market in 2012 and was trailed by Europe. These two regions are poised to maintain their positions all through the forecast horizon. On the other hand, Asia Pacific is the most swiftly developing region in the market with Australia, China, India, and Japan as the prime markets.
Abbott Laboratories, Bio-Rad Laboratories, Gen-Probe, Inc., Roche Diagnostics, Biomerica, Inc., bioMerieux, Inc., and Meridian Bioscience, Inc., among others are the prime players dominant in the market for blood testing.