Blood Culture Tests Market Set to Witness Explosive Growth by 2030

Description

According to the Market Statsville Group (MSG), the global blood culture tests market size was valued at USD 4,913.9 million in 2021 and is estimated to reach USD 10,009.0 million by 2030, registering a CAGR of 9.3% from 2022 to 2030. The growth of the global blood culture tests market is majorly driven by a rise in the geriatric population, an alarming increase in the prevalence of infectious diseases, sepsis, and bloodstream infection (BSIs), and a surge in demand for diagnostic techniques. For instance, as per the Centers for Diseases Control and Prevention, about 250,000 bloodstream infection cases occur yearly, and among them, 80,000 patients suffer from catheter-related bloodstream infection.

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As per statistics provided by the UN Population around 30 million people around the globe were detected with bloodstream infections across the globe. Bloodstream infection ranges from 11% to 28% in the Eastern African region. It has been observed in a report of the WHO that 85% of the deaths from sepsis occur in low- and middle-income countries. Hence, an increase in the prevalence of BSIs and a rise in the geriatric population are expected to propel the demand for blood culture tests, which, in turn, augments the market growth. Moreover, blood culture tests play an important role in the global healthcare sector.

Global Blood Culture Tests Market Definition

Blood culture is a test that examines the presence of foreign bodies such as yeast, bacteria, and other microorganisms in the blood.

Global Blood Culture Tests Market Covid-19 Impact

Blood culture tests are the tools for managing and diagnosing bloodstream infections. Upsurge in demand for blood culture for patients suffering from COVID-19 to determine the prevalence of bacteremia is projected to positively impact the market. As per the data published in the National Library of Medicine, in 2020, the ordering volume for blood culture tests increased by 34.8% in the second half of March 2020 as compared to first half of March. Thus, this is expected to support the market growth during the pandemic period.

Global Blood Culture Tests Market Dynamics

Drivers: Increase in R&D activities and stringent regulationsfrom government toward the diagnostic device

A rise in investment in R&D activities by various healthcare sectors to develop new products such as consumable, instruments, and software is a key factor that drives the growth of the global market. Investment in the R&D sector is a strategy of venture for developing novel products and supports the long-term growth of the business. For instance, F. Hoffmann-La Roche Ltd. invests across $9.27 billion in the field of R&D and approximately every year.

Furthermore, the implementation of stringent regulations from government for the development and manufacturing of advanced diagnostic products, including blood culture test products, is expected to drive the market's growth during the forecast period.

Restraints: Lack of skilled professionals & laboratory technicians

The dearth of skilled professionals and laboratory technicians in some countries is anticipated to restrain the market growth during the forecast period. Laboratory testing of blood culture is carried out by skilled professionals, who play a major role in detecting, diagnosing, and monitoring diseases. Dearth of skilled professionals may result in a decrease in test efficiency and an increase in the turn-around for the tests. This is anticipated to hamper the growth of the blood culture tests market during the review period.

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Global Blood Culture Tests Market Segmentation

The study categorizes the blood culture tests market based on product, method, and application at the regional and global levels.

By Product Outlook (Sales, USD Million, 2017-2030)

• Consumables
• Instruments
• Software and Services

By Method Outlook (Sales, USD Million, 2017-2030)

• Conventional
• Automated

By Application Outlook (Sales, USD Million, 2017-2030)

• Bacterial
• Fungal
• Others

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

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The consumable segment is projected to account for the largest market share, by product

On the basis of product, the global blood culture tests market is classified into consumables, instruments, and software & services. The consumable segment held the highest market share in 2021 and is expected to remain dominant throughout the forecast period.

Consumable is the term used for the device, which is required for sample collection, processing, handling, and analysis for blood culture test. This includes blood culture media, assay, kits, and reagents for the diagnostic application. The consumable segments spearheaded the market in 2021 and are expected to continue this trend throughout the forecast period (2022), due to the increase in demand of products such as assay, kits, reagents, blood culture media, and other blood culture accessories laboratories for diagnosis to provide appropriate treatment.

Asia Pacific accounts for the highest CAGR during the forecast period

Region-wise, the blood culture test market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The market in Asia-Pacific is expected to register the fastest CAGR in terms of revenue during the forecast period due to increase in the geriatric population, development in healthcare infrastructure, accessibility of advanced diagnostic products, rise in focus from the government for the prevention of infectious diseases, and surge in disposable income. Many diagnostic companies target Asian countries such as China and India to expand their business.

The Indian Government has taken several initiatives for the development of the healthcare sector such as Greenfield investment opportunity, flagship, and 100% foreign direct investment (FDI) in the pharma sector. Moreover, the government took the Pradhan Mantri Jan Aushadhi Yojana and Ayushman Bharat initiative to boost the R&D sector in India.

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Key Market Players in the Global Blood Culture Tests Market

Competitive rivalry in the global blood culture tests market was observed at a high level as major players have focused on adopting growth strategies such as product launches, acquisitions, operation expansion, partnerships, agreement, and collaborations to attain a strong position in the competitive market.

Key players operating in the blood culture tests market include:

• Becton, Dickinson and company
• Bruker Corporation
• Luminex Corporation
• T2 Biosystems, Inc.
• Autobio Diagnostics Co., Ltd
• bioMerieux SA
• F. Hoffmann-La Roche Ltd
• Neogen Corporation (Abtek Biologicals)
• OpGen Inc.
• Thermo Fisher Scientific Inc.

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