0
2021
Blood Culture Test Market

Blood Culture Test Market

by Product (Consumables, Instruments, and Software & Services), Method (Conventional and Automated), and Application (Bacterial, Fungal, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A11114
Pages: 259
Apr 2021 | 2632 Views
Author(s) : Ravi Telugunta & Linu Dash
Tables: 122
Charts: 46
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Blood Culture Test Market Overview:

The global blood culture test market generated $3,900.00 million in 2019, and is projected to reach $8,186.15 million by 2027, growing at a CAGR of 9.3% from 2020 to 2027. The blood culture tests is a procedure used to detect the presence of microorganism such as fungi or bacteria in the blood. It diagnoses the causative agent responsible for bloodstream infection and provides a suitable therapeutic approach. Blood culture tests are often done in conjunction with other diagnostic test such as chemical analysis and complete blood count.

Increase in geriatric population; rise in prevalence of infectious disease, bloodstream infection (BSIs), and sepsis, and surge in demand of diagnostic tests are the key factors that drive the growth of the global blood culture test market. It has been observed from the report of the World Health Organization that 85% of the deaths from sepsis occur in low- and middle-income countries.  In addition, surge in demand for blood culture tests, rise in awareness about healthcare to prevent the risk of infectious diseases, upsurge in government initiatives for development & manufacturing of blood culture tests product and increase in investment in R&D activities by various healthcare companies contribute toward the growth of the market. For instance, F. Hoffmann-La Roche Ltd., a biotech company, invested across $9.27 billion in R&D in 2019. Furthermore, implementation of favorable regulatory environment for the development and manufacturing of advanced diagnostic products, which include blood culture test products is expected to drive the growth of the market during the forecast period. However, high cost of automated blood culture instruments and lack of skilled professionals & laboratory technicians are expected to hinder the growth of the market. The, surge in adoption of new technology is expected to provide remunerative opportunities for the expansion of the global blood culture test market during the forecast period.

Blood-Culture-Test-Market-2020-2027

As per the data published by the Health and Human Services (HHS), in the U.S., about 20% increase was registered in Medicare enrollment rates in the past one year. However, 40% rise was witnessed in the rate of sepsis-related hospital admissions among the beneficiaries in 2018. Around 270,000 Americans die every year as a result of sepsis. This is expected to propel the demand for blood culture tests in the coming years. Moreover, with the help of advancement in technology, Luminex Corporation, a biotechnology company having application in life-science, launched Verigene, which has 30 targets and provides results for six different resistant genes for Gram negative of CTX-M-ESBL (CefiTaXime Extended Spectrum Beta-Lactamase). Thus, with the rise in adoption of new technology in healthcare sectors, propels the blood culture test market growth.

Blood Culture Test Market Segmentation

The global blood culture test market is segmented into product, method, application, and region. By product, the market is divided into consumables, instruments, and software & services. On the basis of method, the market is fragmented into conventional and automated. The applications covered in the study include bacterial, fungal, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Segment review

Depending on type of product, , the consumables segment dominated the global blood culture test market in 2019, and is anticipated to continue this trend during the forecast period, due to increase in demand for blood culture media, assay, kits, and reagents. However, the instrument segment is expected to witness considerable growth during the forecast period. This is attributed to the fact that instruments used in hospitals and diagnostic laboratories facilitate rapid result and high accuracy for detection of bacterial and fungal. 

On the basis of the type of method, the conventional segment exhibited the highest growth in 2019, and is anticipated to lead in the near future. This is attributed to the extensive use in independent clinical laboratories and increase in application of this conventional blood culture method in hospitals & pathology laboratories. However, the automated segment is expected to witness considerable growth during the forecast period, due to increase in investments in R&D for development of new products, quick & accurate results, and advancements in blood culture test devices.

Blood Culture Test Market
By Product

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Consumables segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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On the basis of the type of application, the bacterial segment exhibited the highest growth in 2019, and is anticipated to lead in the near future, owing to the fact that bacterial infection is one of the major causes of bloodstream infection and sepsis. However, the fungal segment is expected to witness considerable growth during the forecast period, due to increase in the prevalence of sepsis and bloodstream infection across the globe.

Blood Culture Test Market
By Method

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Conventional segment is projected as one of the most lucrative segment.

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North America accounted for a major share in the blood culture test market in 2019, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of bloodstream infection and presence of advanced healthcare infrastructure. Furthermore, rise in awareness & acceptance of novel diagnostic method, strong economic growth, and increase in demand for advanced healthcare facilities are contributing toward growth of the market. Moreover, upsurge in R&D activities to develop novel blood culture tests and presence of major players operating in the region fuel the growth of the blood culture test market. However, Asia-Pacific is expected to register highest CAGR of 11.70% from 2020 to 2027, owing to increasing target population and developing healthcare infrastructure.

Blood Culture Test Market
By Application

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Bacterial segment held a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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The key players operating in the global blood culture test market include Autobio Diagnostics Co., Ltd, Becton, Dickinson and company (BD), bioMerieux SA, Bruker Corporation, F. Hoffmann-La Roche Ltd, Luminex Corporation, Neogen Corporation (Abtek Biologicals),  OpGen Inc., T2 Biosystems, Inc. and Thermo Fisher Scientific Inc. 

Blood Culture Test Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

North America was holding a dominant position in 2019 and would continue to maintain the lead over the analysis period.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the blood culture test market, and the current trends and future estimations to elucidate the imminent investment pockets.
  • It presents a quantitative analysis of the market from 2019 to 2027 to enable stakeholders to capitalize on the prevailing blood culture test market opportunities.
  • Extensive analysis of the market based on procedures and services assists to understand the trends in the blood culture test industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the blood culture test market.

Key Market Segments

By Product

  • Consumables
  • Instruments
  • Software & Services

By Method

  • Conventional 
  • Automated 

By Application

  • Bacterial
  • Fungal
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 

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The blood culture tests market is expected to exhibit high growth potential in the future. This is attributed to factors such as technological advancements in automatic blood culture test instrument; rise in prevalence of infectious diseases, bloodstream infection, and sepsis; increase in geriatric population; and surge in awareness among consumers regarding healthcare sectors. Moreover, the blood culture tests have gained high traction in the healthcare industry over years, as they are intended for diagnosis, treatment, or management of infectious diseases.

As per the analysis in the report, the market in Asia-Pacific is projected to register highest growth rate, due to presence of large population base coupled with rise in prevalence of chronic diseases, increase in awareness about wearable patches, and rise in disposable income. 

In addition, high cost of automated blood culture instruments and lack of skilled professionals & laboratory technicians are anticipated to restrain the market growth during the forecast period.

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FREQUENTLY ASKED QUESTIONS?

A. The top companies that hold the market share in blood culture tests Market are Autobio Diagnostics Co., Ltd, Becton, Dickinson and company (BD), bioMerieux SA, Bruker Corporation, F. Hoffmann-La Roche Ltd, Luminex Corporation, Neogen Corporation (Abtek Biologicals), OpGen Inc., T2 Biosystems, Inc. and Thermo Fisher Scientific Inc.

A. Consumables is the most influencing segment growing in the blood culture tests market report

A. The key trends in the blood culture tests Market are increase in prevelnce of Bloodstream infection, rise in demad of diagnostic tests and advancement in R&D for healthcare sector

A. The base year for the report is 2019

A. Yes, blood culture tests companies are profiled in the report

A. The total market value of blood culture tests Market is $3,900 million in 2019

A. The forecast period in the report is from 2020 to 2027

A. The market value of blood culture tests Market in 2020 was $4,391.40 Million

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