Global Blood Stream Infection Testing Market Estimated to Reach $10,540.8 Million by 2030 and Grow at 8.3% CAGR in the 2022-2030 Timeframe [260-Pages] | Explained by Research Dive
The blood stream infection testing market is expected to grow by 2030 due to rising number of sepsis cases worldwide. Hospital sub-segment is expected to grow substantially. Market in the North America region is likely to be the most lucrative.
NEW YORK, Aug. 26, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Blood Stream Infection Testing Market by Product (Instruments, Consumables, and Software & Services), Technique (Conventional and Automated), and Technology (Culture-based, Molecular, and Proteomic), Application (Bacterial, Fungal, and Mycobacterial), End-user (Hospitals, Independent Diagnostics Centers, and Others), and Regional Analysis (North America, Europe, Asia-Pacific and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".
According to the report, the global blood stream infection testing market is expected to gather a revenue of $10,540.8 million by 2030, growing at a CAGR of 8.3% during the 2022-2030 timeframe.
Exclusive PDF Sample [260-Pages] of Blood Stream Infection Testing Market
Dynamics of the Market
Drivers: Increasing number of sepsis cases across the globe is projected to be the primary growth driver of the blood stream infection testing market in the forecast period. Additionally, increasing global geriatric population, which is susceptible to the incidence of various chronic diseases, is anticipated to push the market forward.
Opportunities: Increased research and development on blood-borne infectious diseases is expected to offer numerous growth opportunities to the market in the forecast period. Moreover, technological advancements and innovations in the medical and healthcare sector is predicted to augment the growth rate of the market in the forecast period.
Restraints: High diagnostic costs associated with blood stream infection testing may, however, hamper the growth trajectory of the blood stream infection testing market.
Covid-19 Impact on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. However, during the pandemic, the demand for blood stream infection testing increased substantially as blood culture is often considered as the global standard for checking blood infection. Additionally, technological advancements in the blood stream infection testing further boosted this demand during the pandemic. Both these factors helped the blood stream infection testing market to grow substantially in the pandemic period.
Segments of the Market
The report has divided the blood stream infection testing market into a few segments based on product, technique, technology, application, end-user, and regional analysis.
- By product, the consumables sub-segment of the blood stream infection testing market is estimated to have a dominating market share and generate a revenue of $8,505.3 million by 2030. Consumables such as syringes, needles, bandages, test tubes, etc. have seen an increase in demand from the medical sector owing to increase in recommendations from doctors to collect blood samples. This increase in demand is expected to be the main reason behind the growth of this sub-segment in the forecast period.
- By technique, the automated sub-segment is expected to grow at the fastest rate and generate a revenue of $3,280.1 million by 2030. Automated medical instruments have seen a surge in demand, as they are much more reliable and efficient than their traditional counterparts. This growth in demand is expected to fuel the growth of this sub-segment in the forecast period.
- By technology, the culture-based sub-segment is anticipated to have a stunning growth rate and garner $6,092.1 million by 2030. Culture-based blood testing is the most-opted blood testing method, which is expected to be the primary growth driver of this sub-segment in the 2022-2030 timeframe.
- By application, the bacterial sub-segment of the blood stream infection testing market is estimated to have a dominating market share and generate a revenue of $5,776.6 million by 2030. The high incidence of bacterial infections has led to an increase in demand for opting blood stream infection testing to treat the antimicrobial resistance bacteria, which is projected to augment the growth rate of the market.
- By end-user, the hospitals sub-segment is expected to have the highest market share and register a revenue of $5,247.1 million by 2030. Improvement in healthcare facilities across the globe is expected to be the contributing factor behind the growth of this sub-segment.
- By regional analysis, the blood stream infection testing market in the North America region is predicted to be the most dominant and grow at significant CAGR of 7.8% in the forecast period. Increasing geriatric populations in countries like the US and Canada and presence of large healthcare facilities are predicted to be the two leading factors behind the growth of the market in this region.
Significant Market Players
Some prominent market players of the blood stream infection testing market are
- Thermo Fisher Scientific
- bioMérieux SA
- Accelerate Diagnostics Inc.
- F. Hoffmann-La Roche Ltd.
- Cepheid
- AdvanDX
- Abbott Laboratories
- Luminex Corporation
- Bruker Corp
- Becton Dickinson
These players are developing various business strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to gain a commanding position in the market.
For example, in March 2021, Roche, a Switzerland-based multinational healthcare company, announced that it has signed a definitive merger agreement with GenMark Diagnostics, Inc., a molecular diagnostics company. This definitive merger agreement is aimed at developing an innovative technology that will offer testing of a broad range of pathogens and will address testing needs of respiratory and bloodstream infections. Inquire Here Before Buying the Full Report
The report also sums up various crucial facets including SWOT analysis, product portfolio, financial performance of the key market players, and the latest strategic developments.
More about Blood Stream Infection Testing Market:
- What is Blood Stream Infection Testing and What Does it Comprise of?
- Blood Stream Infection Testing Market to Observe Significant Growth Due to Technological Advancements and Company Acquisitions by Market Players, such as BD, Bruker Corporation, and Others
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