Blood Testing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 90.62 Billion |
| Market Size (2029) | USD 126.12 Billion |
| CAGR (2024 - 2029) | 6.88 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Blood Testing Market Analysis
The Global Blood Testing Market size is estimated at USD 90.62 billion in 2024, and is expected to reach USD 126.12 billion by 2029, growing at a CAGR of 6.88% during the forecast period (2024-2029).
Factors such as the growing burden of chronic diseases, rising demand for home healthcare, the introduction of advanced technology-enabled products, the implementation of favorable government initiatives, and rising research and development expenditures on developing blood tests are expected to drive the market.
Blood, plasma, and serum are the most important elements in the body's circulation system. These are also widely studied for the detection of biomarkers, especially for cancer detection and early diagnosis. The growing burden of several chronic diseases increased the demand for their early and effective diagnosis, as delay in diagnosis may lead to complications that can be fatal. For instance, according to the National Breast Cancer Foundation's April 2024 update, approximately 1 in 8 women in the United States is expected to face a breast cancer diagnosis during their lifetime. For 2024, projections suggest that around 310,720 women and 2,800 men will receive diagnoses of invasive breast cancer. The huge prevalence of cancer cases worldwide requires regular monitoring and diagnosing of these diseases, which is expected to fuel the market growth during the forecast period.
According to the European Centre for Disease Prevention and Control's January 2023 publication, up to December 31, 2022, 4,110,465 cases of dengue were reported. The majority of cases were reported from Brazil (2,363,490), Vietnam (367,729), the Philippines (220,705), Indonesia (125,888), and India (110,473). Early detection of disease progression associated with severe dengue boosts the demand for blood testing for timely diagnosis of the diseases, thus driving the market. Furthermore, product launches by market players are expected to propel the market's growth over the forecast period. For instance, in June 2022, in association with Datar Cancer Genetics, Apollo Cancer Centers introduced a blood test to detect breast cancer early in asymptomatic individuals. The test, EasyCheck-Breast, can help detect breast cancer even before the first stage.
Thus, the market is expected to grow significantly during the forecast period due to the above-mentioned factors. However, a stringent regulatory approval process is expected to hinder market growth during the forecast period.
Blood Testing Market Trends
Glucose Testing is Expected to Hold a Significant Share of the Blood Testing Market
A blood glucose test measures the total amount of glucose in the blood. The symptoms of various disorders like diabetes usually appear suddenly, which is why blood sugar levels must be checked. Self-testing blood sugar is also important to manage diabetes and prevent complications. The rising prevalence of type I and type II diabetes, coupled with the growing cases of hereditary diabetes, also supports the growth of the glucose testing segment.
The prevalence of diabetes has increased in recent years, and many reports expect this prevalence to increase further in the future. For instance, as per report by the International Diabetes Federation, the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. It will increase the demand for blood glucose testing, which will boost segmental growth.
The presence of portable glucose meters that patients can use for routine check-ups anywhere anytime boosts segmental growth. Furthermore, diabetes monitoring is carried out before any surgical intervention for the patient with diabetes, which influences the demand for these products. The launch of new products in the segment is expected to drive growth during the forecast period. For instance, in May 2022, Labcorp launched an at-home collection kit through Labcorp OnDemand that measures hemoglobin A1c (HbA1c) from a small blood sample to measure the sugar level.
Thus, the segment is expected to grow significantly over the forecast period due to the above-mentioned factors.
North America Holds a Significant Market Share
North America holds a significant market share due to technological advancements such as miniaturized diagnostic devices, which render rapid and accurate test results. Higher market penetration in the region and favorable medical insurance policies enhance the adoption of such products. The United States is expected to dominate the market.
The rising burden of chronic diseases in the United States, such as cancer, diabetes, thyroid, and other diseases requiring blood tests, will boost market growth. For instance, according to Cancer Facts and Figures 2023, published in January 2023 by the American Cancer Society, an estimated 1.9 million new cancer cases were diagnosed in 2023. Among these, prostate cancer accounted for 288,300 cases, followed by 23,830 cases of lung cancer and 300,590 cases of breast cancer. According to statistics published in May 2022 by the Government of Canada, about 233,900 Canadians were diagnosed with cancer in 2022, and prostate cancer is expected to remain the most commonly diagnosed cancer. Thus, the huge burden of cancer in the region is expected to increase the demand for blood testing, thereby boosting market growth over the forecast period.
Launching technologically advanced blood tests in the country will also positively contribute to market growth. For instance, in January 2022, Eurofins subsidiary empowerDX launched PFAS Exposure in the United States, a direct-to-consumer at-home test to determine levels of per- and polyfluorinated alkyl substances (PFAS) in a person's blood and measure 47 of the PFAS chemical compounds.
Thus, the above-mentioned factors are expected to drive market growth in North America.
Blood Testing Industry Overview
The blood testing market is fragmented and consists of several major players. The companies implemented certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, to help them strengthen their market position. The major players are Danaher Corporation, BioRad Laboratories, Thermofisher Scientific, Abbott Laboratories, and BioMerieux SA. Key players are also involved in various strategic alliances, such as acquisitions and collaborations, and launching advanced products to secure their position in the global market.
Blood Testing Market Leaders
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BioRad Laboratories
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Danaher Corporation
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Abbott Laboratories
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BioMerieux SA
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Thermo Fisher Scientific
*Disclaimer: Major Players sorted in no particular order
Blood Testing Market News
- April 2024: BD (Becton, Dickinson, and Company) introduced its BD Vacutainer UltraTouch Push Button Blood Collection Set in India. This innovative set features BD RightGauge technology, which allows the use of a finer needle during blood collection. Additionally, it incorporates BD's proprietary PentaPoint Technology.
- March 2023: Guardant Health Inc. submitted the final module of its premarket approval (PMA) application for Shield, Guardant Health's blood test to screen for colorectal cancer (CRC), to the US Food and Drug Administration (FDA).
Blood Testing Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Burden of Chronic Diseases
- 4.2.2 Rising Demand for Home Healthcare and the Introduction of Advance Technology-enabled Products
- 4.2.3 Implementation of Favorable Government Initiatives & External Funding for R&D Exercises
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Approval Process
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size By Value - in USD)
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5.1 By Type
- 5.1.1 Glucose Testing
- 5.1.2 Lipid Panel Testing
- 5.1.3 Prostate Specific Antigen (PSA) Testing
- 5.1.4 Blood Urea Nitrogen (BUN) Testing
- 5.1.5 Thyroid Stimulating Hormone Testing
- 5.1.6 Other Types (Direct LDL testing, Testosterone Testing)
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5.2 By Methods
- 5.2.1 Manual Blood Testing
- 5.2.2 Automated Blood Testing
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5.3 By End User
- 5.3.1 Diagnostic Laboratories
- 5.3.2 Hospitals
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 Becton, Dickinson and Company
- 6.1.3 BioMerieux SA
- 6.1.4 BioRad Laboratories
- 6.1.5 Danaher Corporation
- 6.1.6 F. Hoffmann-La Roche AG
- 6.1.7 Novartis International AG
- 6.1.8 Thermo Fisher Scientific
- 6.1.9 Una Health Ltd
- 6.1.10 Shimadzu Corporation
- 6.1.11 Waters Corporation
- 6.1.12 PerkinElmer Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Blood Testing Industry Segmentation
As per the scope of the report, blood testing is an analysis conducted in a laboratory, with the main aim of determining the general state of health, the presence of harmful bacteria or viruses, and assessing disease progression. Some of the major diseases that require blood testing are cancer and AIDS/HIV.
The blood testing market is segmented by type, method, end user, and geography. By type, the market is segmented into glucose testing, lipid panel testing, prostate-specific antigen (PSA) testing, blood urea nitrogen (BUN) testing, thyroid stimulating hormone testing, and other types. By method, the market is segmented into manual blood testing and automated blood testing. By end user, the market is segmented into manual blood testing and automated blood testing. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (USD) for all the above segments.
| By Type | Glucose Testing | |
| Lipid Panel Testing | ||
| Prostate Specific Antigen (PSA) Testing | ||
| Blood Urea Nitrogen (BUN) Testing | ||
| Thyroid Stimulating Hormone Testing | ||
| Other Types (Direct LDL testing, Testosterone Testing) | ||
| By Methods | Manual Blood Testing | |
| Automated Blood Testing | ||
| By End User | Diagnostic Laboratories | |
| Hospitals | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Blood Testing Market Research FAQs
How big is the Global Blood Testing Market?
The Global Blood Testing Market size is expected to reach USD 90.62 billion in 2024 and grow at a CAGR of 6.88% to reach USD 126.12 billion by 2029.
What is the current Global Blood Testing Market size?
In 2024, the Global Blood Testing Market size is expected to reach USD 90.62 billion.
Who are the key players in Global Blood Testing Market?
BioRad Laboratories, Danaher Corporation, Abbott Laboratories, BioMerieux SA and Thermo Fisher Scientific are the major companies operating in the Global Blood Testing Market.
Which is the fastest growing region in Global Blood Testing Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Blood Testing Market?
In 2024, the North America accounts for the largest market share in Global Blood Testing Market.
What years does this Global Blood Testing Market cover, and what was the market size in 2023?
In 2023, the Global Blood Testing Market size was estimated at USD 84.39 billion. The report covers the Global Blood Testing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Blood Testing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Blood Screening Industry Report
Statistics for the 2024 Global Blood Testing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Blood Testing analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
