The Latest Blood Testing Industry Statistics Explained
The global blood testing market value in 2018 was approximately USD 51.79 billion.
The statistic regarding the global blood testing market value in 2018 being approximately USD 51.79 billion signifies the total monetary worth of the market for blood testing services and products worldwide during that particular year. This metric encapsulates the financial scale and significance of blood testing in healthcare and related industries, illustrating the substantial investments, revenues, and economic activities associated with this sector. The figure serves as a key indicator for stakeholders, including investors, healthcare providers, policymakers, and researchers, highlighting the market’s size, growth trends, and potential opportunities for innovation and development within the blood testing industry.
The blood tests market size is anticipated to reach USD 77.8 billion by 2026.
This statistic indicates the projected market size for blood tests by the year 2026, with an anticipated value of USD 77.8 billion. This suggests a significant anticipated growth and demand for blood tests during this time period. Factors such as advancements in technology, increasing prevalence of chronic diseases, growing awareness about preventive healthcare, and the rising aging population are likely contributors to this expected expansion in the blood tests market. This statistic serves as a valuable insight for stakeholders, healthcare providers, and investors who are involved or interested in the healthcare sector, highlighting the potential opportunities and importance of blood testing in the coming years.
As of 2019, Glucose Testing holds the largest category of 43% in the Blood Testing market.
The statistic indicates that in 2019, Glucose Testing represented the largest category within the Blood Testing market, comprising 43% of the total market share. This suggests that a significant portion of the market demand was attributed to Glucose Testing compared to other types of blood tests. The dominance of Glucose Testing in the market could be influenced by factors such as the increasing prevalence of diabetes and the importance of monitoring blood sugar levels. This information provides valuable insights for stakeholders in the healthcare industry to understand the dynamics of the Blood Testing market and make strategic decisions related to product development, marketing, and investments.
Immunoassay testing is projected to witness a 6.0% growth rate till 2026.
The statistic indicates that the immunoassay testing market is expected to experience a growth rate of 6.0% annually until the year 2026. Immunoassay testing is a widely-used method in clinical diagnostics and research for detecting and measuring substances such as proteins, antibodies, and hormones in biological samples. The projected growth rate suggests an increasing demand for immunoassay testing services and products over the next few years, potentially driven by factors such as advancements in technology, expanding applications in healthcare, and the growing need for efficient and accurate diagnostic tools. This growth trend may present opportunities for companies operating in the immunoassay testing market to expand their businesses and reach a broader customer base in the coming years.
The Self/Blood Glucose Monitoring products category is projected to reach a valuation of USD 19.8 Billion by 2026.
The statistic referring to the Self/Blood Glucose Monitoring products category projecting a valuation of USD 19.8 Billion by 2026 indicates the anticipated growth and market potential of products related to monitoring blood glucose levels for individuals with diabetes or those at risk of developing the condition. This projection likely takes into account factors such as increasing prevalence of diabetes worldwide, technological advancements in monitoring devices, rising awareness about the importance of self-monitoring blood glucose levels, and the growing emphasis on proactive health management. The forecasted valuation signifies a significant market opportunity for manufacturers, healthcare providers, and other stakeholders in the healthcare industry operating within this product category.
The Infectious Diseases segment held over 15% of the market share in 2019.
The statistic “The Infectious Diseases segment held over 15% of the market share in 2019” indicates that within the broader market, which likely encompasses various healthcare sectors and services, the segment focused on infectious diseases accounted for a significant portion of market activity. Specifically, this segment represented more than 15% of all market activity in 2019. This statistic suggests that there is substantial demand for products, services, and research related to infectious diseases, and that businesses operating within this segment were able to capture a noteworthy share of the overall market. This information can be valuable for stakeholders in the healthcare industry, as it highlights the importance and prominence of infectious diseases within the market landscape.
According to WHO, an estimated 290 million to 650 million clinical laboratory tests are performed annually in low and middle-income countries.
This statistic from the World Health Organization (WHO) indicates the significant scale of clinical laboratory testing conducted in low and middle-income countries each year, with an estimated range of 290 million to 650 million tests. The data highlights the substantial need for diagnostic testing and medical services in these regions, where access to healthcare resources may be limited. The volume of tests suggests that these countries are actively working towards improving healthcare delivery and diagnostics, demonstrating the ongoing efforts to address public health challenges and ensure quality care for their populations. The data underscores the importance of strengthening healthcare systems in low and middle-income countries to meet the demand for essential laboratory services and improve health outcomes.
Cholesterol testing services market dominated the blood testing market in 2018 and will grow at 2.5% CAGR up to 2025.
The statistic indicates that the cholesterol testing services market was the leading segment within the blood testing market in 2018, surpassing other types of blood tests in terms of market share. Furthermore, it is projected to consistently grow at a compound annual growth rate (CAGR) of 2.5% from 2018 to 2025. This growth suggests that there is a sustained demand for cholesterol testing services, likely driven by increasing awareness of the importance of monitoring cholesterol levels in preventing cardiovascular diseases and maintaining overall health. The steady growth projected until 2025 indicates a positive outlook for the cholesterol testing services market, with opportunities for further expansion and innovation in this sector.
Approximately 70% of medical decisions are based on lab results.
The statistic that approximately 70% of medical decisions are based on lab results highlights the critical role that laboratory testing plays in modern healthcare. Medical professionals rely on laboratory tests to assess a patient’s health status, diagnose conditions, monitor treatment effectiveness, and inform decision-making processes. Lab results provide objective data that help physicians make informed decisions about patient care, treatment plans, and medication management. This statistic underscores the significance of accurate and timely lab testing in contributing to evidence-based medicine and improving patient outcomes through informed healthcare decisions.
The market for molecular blood testing is expected to grow at a CAGR of 10.3% till 2026.
This statistic indicates that the market for molecular blood testing is projected to experience a Compound Annual Growth Rate (CAGR) of 10.3% until the year 2026. This means that the market is expected to expand steadily at an annual rate of 10.3% over this period. The high growth rate suggests increasing demand for molecular blood testing services, likely driven by factors such as advancements in technology, rising prevalence of chronic diseases, and a growing emphasis on personalized medicine. The forecasted growth rate provides valuable insight for companies operating in this market, helping them anticipate future trends and plan strategies to capitalize on the expanding opportunities in molecular blood testing.
Blood test strips market was valued at nearly USD 11.12 billion in 2019.
The statistic indicates that the global market for blood test strips, which are utilized for various medical tests to monitor glucose levels, coagulation, cholesterol, and other health indicators, reached a value of approximately USD 11.12 billion in 2019. This substantial market value suggests a high demand for blood test strips worldwide, driven by factors such as the increasing prevalence of chronic diseases like diabetes, the aging population, and the growing focus on preventive healthcare measures. The significant market size also reflects the importance of accurate and efficient diagnostic tools in modern healthcare systems, highlighting the critical role that blood test strips play in monitoring and managing various medical conditions.
Conclusion
With the complexity of medical care and the increasing importance of preventive health screening, the blood testing industry is expected to continue its growth trajectory. The statistics provide valuable insights into the trends and dynamics within this sector, highlighting the potential for innovation and improved patient outcomes. As technology advances and consumer awareness grows, the industry is poised to play a crucial role in shaping the future of healthcare.
References
0. – https://www.medgazette24.com
1. – https://www.www.marketsandmarkets.com
2. – https://www.www.who.int
3. – https://www.www.gminsights.com
4. – https://www.www.globenewswire.com
5. – https://www.www.wolterskluwer.com
6. – https://www.www.grandviewresearch.com
7. – https://www.www.researchandmarkets.com
8. – https://www.www.mordorintelligence.com
