What is the global market size of Blood Testing Market?

Global Blood Testing Market size was valued at USD 89.25 Billion in 2022 and is poised to grow from USD 95.94 Billion in 2023 to USD 171.11 Billion by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).

Blood Testing Market Size, Share, Growth Analysis, By Type (Glucose Testing, Lipid Panel Testing), By Methods (Manual Blood Testing, Automated Blood Testing), By End User, By Region - Industry Forecast 2025-2032

Report ID: SQMIG35A2519 | Region: Global | Published Date: December, 2024
Pages: 157 | Tables: 66 | Figures: 75

Blood Testing Market Dynamics

Blood Testing Market Drivers

External funding for the clinical studies aimed at developing new and advanced technology in diagnostic tests is a major driver to the growth of the market.
Rising awareness among patients about several types of self-testing and home diagnostic tests is likely to influence the growth of the global blood testing market.
Continuously increasing prevalence of chronic disease along with a rapid growth in the demand for fast products for accessing health problems is projected to propel the market in the coming years.

Blood Testing Market Restraint

Lack of awareness about latest technology devices among patients in the developing countries such as India, Indonesia, Malaysia is expected to hinder the market growth during the forecast period.
High cost of the devices and self-testing kits is likely to be a factor restraining the market demand in the coming years.

Blood Testing Market Report Snapshots

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Blood Testing Market size was valued at USD 95.94 Billion in 2023 and is poised to grow from USD 103.14 Billion in 2024 to USD 183.94 Billion by 2032, growing at a CAGR of 7.5% during the forecast period (2025-2032).

The global blood testing market is highly fragmented in the nature with the presence of several big players such as Danaher Corporation, Abbott Laboratories, BioRad Laboratories. These key players are implanting on certain strategies such as merger, acquisition, new product launch, partnerships, which help them to consolidate and strengthening their market position. For instance, in June 2022, Apollo Cancer Centres in partnership with Datar Cancer Genetics launched a type of blood test that can detect breast cancer at early stages in asymptomatic individuals. 'Abbott ', 'F. Hoffmann-La Roche Ltd ', 'Bio-Rad Laboratories, Inc. ', 'bioMerieux ', 'Quest Diagnostics Incorporated ', 'Biomerica ', 'BD ', 'Siemens Healthineers AG ', 'Danaher Corporation ', 'Trinity Biotech Plc ', 'Thermo Fisher Scientific ', 'Sysmex Corporation ', 'Dr Lal PathLabs Limited ', 'Alere Inc. ', 'Cepheid Corporation '

External funding for the clinical studies aimed at developing new and advanced technology in diagnostic tests is a major driver to the growth of the market.

Key players in the global blood testing market are focusing on new and innovative ways to make their products and to introduce more effectively for the end-users. The use of latest technology such as Artificial Intelligence to detect accurate results at early stage of a disease is having positive impact on the end-users.

North America dominated the global blood testing market and accounted for the largest revenue share of over 45% in 2021. A rise in the number of strategic activities which are being undertaken by several market players and government bodies to increase the donation of plasma in the region is one of the major factors driving the market growth over the forecast period. The United States topped in the export value blood testing instruments in 2021. In the United States, the export value for blood testing instruments was USD 27,782,430 thousand in 2020 which rises to USD 30,967,176 thousand in 2021 with an annual growth rate of 11%. The increasing number of blood donations is further anticipated to fuel the demand for the testing products in the region.

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Blood Testing Market Size, Share, Growth Analysis, By Type (Glucose Testing, Lipid Panel Testing), By Methods (Manual Blood Testing, Automated Blood Testing), By End User, By Region - Industry Forecast 2025-2032

Blood Testing Market Dynamics

Blood Testing Market Report Snapshots

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