Blood Culture Tests Market Size, Share, Trends & Growth Forecast To 2027
HYDERABAD, TELANGAANA, INDIA, August 24, 2022 /EINPresswire.com/ — As per the report published by MarketDataForecast, the global market for blood culture tests is anticipated to grow at a CAGR of 2.6% from 2022 to 2027 and the market size is expected to be 73.05 billion USD by 2027 from USD 64.25 billion in 2022.
A blood culture test refers to the testing of the blood for any germs. Germs in common are viruses, bacteria, fungi, and other microorganisms that may cause infection in various body areas. The doctor prescribes the blood culture test when they suspect a blood infection, i.e., an invasion of microorganisms in your blood that could cause sepsis. The symptoms of a blood infection include fever, nausea, violent tremors, dropping blood pressure, dizziness, etc. the blood culture test is a simple procedure wherein a small sample of blood is drawn and tested for foreign particles. The results of a blood culture test can take a couple of days. The test helps the doctor identify the problem and prescribe proper medication accordingly. The blood culture test is essential to determine the cause and cure of various infections.
What is the impact of COVID-19 on the global blood culture test market?
The pandemic caused chaos in many areas of the world. The significant dip in the economy of many countries resulted from the cumulative losses faced by many firms, industries, and businesses in both products and services sectors. The restrictions on the transport and delivery of goods led to the closure of many company warehouse facilities. A significant portion of service businesses was closed due to lockdowns and quarantine. Unemployment spurred among nations, and relief funds from the government could not cover much of the economic loss. The healthcare department was one of the most severely affected sectors as it faced the flood of covid patients and a lack of resources and professional personnel. The pandemic postponed many medical diagnoses and treatments for other departments as hospitals focused all their attention on managing the covid situation.
However, the market for blood culture tests grew significantly during the forecast period. This market growth is due to the increase in the number of blood culture tests to confirm the presence of the SARs-CoV-2 virus in the blood of patients. as the cases for covid kept piling up, so did the list for blood culture tests. The government soon realized the potential of the test in determining the presence of the virus and helping in creating an antidote vaccine for the same. Therefore, it started funding the initiatives toward conducting more blood culture tests. Thus, the blood culture tests became an essential part of the research and diagnosis of the coronavirus.
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MARKET DYNAMICS:
The market is on the rise due to the rapidly advancing medical technologies and the need for continuous and quick diagnosis of infections. Furthermore, the market is prospering because of the investments from government authorities and the improved approvals for the market following the spread of awareness among the public regarding the advantages of a blood culture test. In addition, the rise in the world’s geriatric populations and the innovations in the field of medical science are leading the market’s growth.
Aside from this, the increase in infectious diseases in the bloodstream and the rapid cases of sepsis are leading the market to grow. In addition, the rise in the number of bacterial, fungal, and microbial infections and catheter-related BSIs are conducting the hospitals and clinics to require more treatments centered around these foreign invasions, thus leading to the rise in the blood culture test market.
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ANALYSIS OF VARIOUS SEGMENTS INVOLVED IN THE BLOOD CULTURE TESTS MARKET:
Based on the product, the consumables segment dominated the products sector of the market due to the high requirement of the kits and reagents available at drug stores. And since their reagents are a single-use mechanism, they are to be bought whenever required, further boosting their sales. However, the instruments segment, the second largest revenue segment for the market, is expected to increase during the forecast period due to the innovations in medical technology and the growing use of automated systems and incubators in hospital settings. The systems provide accurate and fast results, thus leading to the hospitals depending on them.
Based on the technology, due to the increase in the number of research laboratory technologies along with pathological developments, the culture-based technology segment is expected to grow significantly during the forecast period. In addition, the molecular technology segment is also developing due to the rise in infectious diseases and a need for accurate and fast diagnosis.
Based on the application, since bacterial infections are the most common of all germ infections, the segment dominated the market and is expected to continue growing during the forecast period. On the other hand, fungemia and mycobacterial infections and the right after the bacteria segment in terms of market share.
Based on the end-user, due to the increased government initiatives and investments in the hospitals and the availability of the latest technology at hospitals, the hospital laboratories segment is expected to continue dominating the market. In addition, the hospitals utilize the blood culture testing devices and create new innovative and research build solutions, providing the market with revenue.
GEOGRAPHICAL ANALYSIS:
The North American region is expected to have the fastest growing CAGR during the forecast period. This region’s dominance is due to the presence of key market players and the government’s support and initiatives towards the market in countries like the U.S and Canada. The European market is also expected to grow due to rising R&D in the region, along with exponential populations and healthcare facilities in countries like the U.K, Italy, France, Etc.
The Asia Pacific is a region of growth due to the large populations in countries like China and India, along with Japan and South Korea. In addition, the immense need for better healthcare facilities and growing disposable income is expected to propel market growth.
KEY MARKET PLAYERS IN THE BLOOD CULTURE TESTS MARKET:
• BioMérieux SA
• Thermo Fisher Scientific Inc.
• Cepheid, Inc.
• Nanosphere Inc.
• IRIDICA
• Beckman Coulter
• Bruker Corporation
• T2 Biosystems
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BROWSE REGIONAL REPORTS:
North America Blood Culture Tests Market
Europe Blood Culture Tests Market
APAC Blood Culture Tests Market
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