The global bloodstream infection testing market is anticipated to witness noteworthy growth in the 2019—2027 timeframe. Growing investments in the research and development activities related to bloodstream infection testing is driving the growth of the market. The conventional sub-segment, bacterial sub-segment, molecular diagnosis sub-segment, hospital sub-segment, and consumables sub-segment are projected to lead the market. The North American market is anticipated to be at the forefront.
New York, USA, Oct. 20, 2021 (GLOBE NEWSWIRE) -- A new report on the global bloodstream infection testing market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $7,722.2 million by 2027, rising at a CAGR of 8.4% from 2019 to 2027. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth
The key factors enhancing the growth of the global bloodstream infection testing market are the surging cases of sepsis and increasing occurrence of infectious ailments. Moreover, growing investments in the research and development activities related to bloodstream infection testing by market players is projected to open doors to profitable opportunities for the growth of the market throughout the forecast period. However, high costs involved in diagnosis and absence of medical compensation in this type of testing are expected to hamper the market growth.
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COVID-19 Pandemic Impact on the Market
The outbreak of COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global bloodstream infection testing market. The pandemic has greatly surged the importance and demand for in-vitro diagnostic testing, which is considered as the ideal standard for analysis of infectious ailments. The demand for diagnostic testing increased stupendously mainly in the North American and European regions during the pandemic, which is significantly boosting the market growth.
The report segments the global bloodstream infection testing market into product, technique, technology, application, end user, and region.
Consumables Sub-Segment to Hold a Dominating Position
The consumables sub-segment of the product segment is anticipated to grow with a CAGR of 8.5% and hold a leading position in the market during the forecast period. This is chiefly owing to the increasing awareness regarding the significance of blood bloodstream infection testing in diagnosis of diseases among people.
Conventional Sub-Segment to Hold a Leading Market Share
The conventional sub-segment of the technique segment is estimated to grow with a CAGR of 8.1% and grab a foremost position in the market during the forecast period. This is chiefly owing to the widespread use of conventional diagnosis methods in laboratories.
Molecular Diagnosis Sub-Segment to Register Highest Growth Rate
The molecular diagnosis sub-segment of the technology segment is anticipated to grow profoundly in the estimated period. The growth of this sub-segment is mainly because molecular technology is quicker, more sensitive, dependable, and enables direct identification of causative pathogens.
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Bacterial Sub-Segment to Observe Highest Growth
The bacterial sub-segment of the application segment is anticipated to observe significant growth with a CAGR of 8.7% during the forecast period. This is chiefly because of the rising demand for bloodstream infection testing owing to the growing occurrence of sepsis in people worldwide.
Hospital Sub-Segment to Hold Highest Market Share
The hospital sub-segment of the end user segment is estimated to grow with a CAGR of 8.0% and grab a leading position in the market during the forecast period. This is chiefly owing to the growing advancements in medical facilities in emerging nations and rising number of sovereign laboratories across the world.
North American Market to Observe Highest Growth
The report analyzes the global bloodstream infection testing market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is estimated to observe notable growth with a CAGR of 7.9% in the forecast period. The growth of this region market is primarily due to the growing elderly population and presence of huge number of healthcare services in this region.
Key Market Players
The report lists some of the foremost players operating in the global bloodstream infection testing industry including -
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific
Accelerate Diagnostics Inc.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in March 2020, Abbott, an American multinational medical devices and health care company, proclaimed that the U.S. Food and Drug Administration (FDA) has given out Emergency Use Authorization (EUA) for the fastest available molecular point-of-care test for the diagnosis of COVID-19, giving out positive outcomes in almost 5 minutes and negative outcomes in 13 minutes.
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