PORTLAND, OR, UNITED STATE, November 22, 2021 /EINPresswire.com/ — "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." According to the report, the global blood culture test industry was pegged at $3.90 billion in 2019, and is expected to hit $8.18 billion by 2027, registering a CAGR of 9.3% from 2020 to 2027.
Increase in prevalence of infectious diseases, bloodstream infections, and sepsis, rise in demand for advanced diagnostic techniques, and surge in R&D activities and strict regulations from government fuel the growth of the global blood culture test market. On the other hand, high cost of automated blood culture instruments and lack of skilled professionals and laboratory technicians impede the growth to some extent. However, rise in adoption of new technology is projected to pave the way for lucrative opportunities for the key players in the industry.
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Increase in the geriatric population; rise in prevalence of infectious disease, bloodstream infection, and sepsis; surge in demand for diagnostic tests, and increase in investment in R&D activities by various healthcare companies are the major factors that boost the growth of the global blood culture test market. In addition, implementation of stringent regulations from the government for development and manufacturing of blood culture tests product propels the market growth. Rise in awareness about the healthcare for preventing infectious diseases further supports the blood culture test market growth.
– The outbreak of the pandemic led to a steep increase in demand for blood culture test, as it is used to detect the presence of virus in a patient's body.
– However, extended lockdowns across the world affected the market to some extent.
The consumables segment to dominate by 2027-
Based on product, the consumables segment garnered the major share in 2019, generating more than three-fifths of the global blood culture test market. The segment is also anticipated to garner the fastest CAGR of 9.7% during the forecast period. This is due to increase in use of blood culture media, kits, reagents, and assay by various laboratories for the purpose of diagnosis to provide appropriate treatment.
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The conventional segment to maintain the dominant share-
Based on methods, the conventional segment accounted for nearly three-fourths of the global blood culture test market share in 2019, and is anticipated to rule the roost by the end of 2027. This is attributed to extensive use of conventional blood culture tests in independent clinical laboratories and increase in application of conventional method in hospitals and pathology laboratories. Simultaneously, the automated segment would manifest the fastest CAGR of 9.7% throughout the forecast period.
North America garnered the major share in 2019-
Based on region, the market across North America held the highest share in 2019, generating nearly two-fifths of the global blood culture test market. This is owing to increase in prevalence of target diseases, rise in awareness & acceptance of novel diagnostic method, high expenditure on the healthcare sector, strong economic growth, and the presence of major market participants At the same time, the market across Asia-Pacific would cite the fastest CAGR of 11.3% from 2020 to 2027, owing to the presence of large target population and developing healthcare infrastructure in the province.
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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.
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