Blood Culture Tests Market worth $7.6 billion by 2028
Blood Culture Tests Market in terms of revenue was estimated to be worth $5.2 billion in 2023 and is poised to reach $7.6 billion by 2028, growing at a CAGR of 8.0% from 2023 to 2028 according to a new report by MarketsandMarkets™.
Growth in this market is primarily fueled by growing demand for rapid diagnostic techniques, high prevalence of infectious diseases, growing incidence of sepsis cases and high-cost treatment, rising geriatric population and high incidence of bloodstream infections. Alternatively, lack of trained laboratory technicians and high cost of automated instruments are expected to restrain the market growth in the upcoming years.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=159606753
The Automated Blood Culture Tests segment is expected to grow the highest during the forecast period
Based on method, conventional/manual blood culture and automated blood culture methods are the different blood culture tests market segments. The automated blood culture segment is expected to grow the highest during the forecast period. The quick turnaround time and reduced risk of contamination due to low manual intervention drives the growth of the automated blood culture method segment in the blood culture tests market.
The Consumables segment is expected to grow the highest during the forecast period
Based on product, the consumables, instruments, and software and services, make up the major market segments for blood culture tests market. The consumables segment not only has the largest share but is also expected to grow the highest during the forecast period. The large share of this segment is attributed to the repeated purchase of media for the detection of bacteria, fungi, and yeast and increase in drug-resistant infections, such as methicillin-resistant Staphylococcus aureus (MRSA) and extended-spectrum beta-lactamase (ESBL)-producing bacteria.
The Molecular Technologies segment is to witness the highest growth during the forecast period
Based on technology, the blood culture tests market is categorized into distinct segments, including molecular technologies, proteomics and culture-based technologies. Among these, molecular technologies segment is to witness the highest growth during the forecast period. This can be attributed to several factors, such as the increasing incidence of sepsis, which demands rapid diagnostic techniques for detecting the presence of fungi, bacteria, and mycobacteria from blood samples.
The Bacteremia segment is expected to look for the highest growth during the forecast period
Based on application, the market for blood culture tests is divided into fungemia, mycobacterial detection and bacteremia. Bacteremia segment is expected to look for the highest growth in the blood culture tests market. The highest growth of this segment is primarily attributed to the increasing number of bloodstream infections and the growing number of sepsis cases worldwide.
The Hospital Laboratories segment has accounted for the largest share during the forecast period
Based on end users, the bloodculture tests market is bifurcated into reference laboratories,hospital laboratories, academic research laboratories, and other laboratories (includes physician office laboratories (POLS), pathology laboratories, independent research laboratories and bacteriological laboratories). The hospital laboratories segment has accounted for the largest share in this market. This is due to the rising number of sepsis cases in emergency departments (EDs), as sepsis is most commonly observed in EDs.
Asia-Pacific is to witness the highest growth during the forecast period.
The Asia-pacific blood culture tests market is expected to grow at the highest CAGR during the forecast period of 2023-2028. The high growth rate of this market can be attributed to the high prevalence of sepsis and government initiatives to increase its awareness, increasing demand for effective diagnostic techniques, and growing regulatory approvals and availability of blood culture test products in the region.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=159606753
Blood Culture Tests Market Dynamics:
- Growing incidence of sepsis cases and high cost of treatment
- Lack of trained laboratory technicians
- Growth opportunities in emerging economies
- Market Cannibalization for conventional products
Key Market Players:
The major players in this market are Biosystems, Inc (US), BINDER GmBH (Germany), Biobase Biotech (Jinan) Co., Ltd. (China), Scenker Biological Technology Co., Ltd. (China), Bulldog Bio (England), Anaerobe Systems, Inc. (US), Himedia Laboratories Pvt. Ltd. (India), Autobio Diagnostics Co., Ltd. (China), Axiom Laboratories (India), Mikroscan Technologies, Inc. (US), Labotronics Ltd. (UK), Hardy Diagnostics (US), OpGen, Inc. (US), Meditech Technologies India Private Limited (India), Iridica (US), Thermo Fisher Scientific (US), Danaher (US), Luminex Corporation (US), Bruker (US), Roche Diagnostics (Switzerland), Carl Zeiss AG (Germany), Nikon Corporation (Japan), Terumo Corporation (Japan), Becton, Dickinson and Company (US) and BioMérieux (France).
- In 2023, BioMérieux, announced that it has submitted a 510(k) premarket notification to the US Food and Drug Administration (FDA) for the VITEK REVEAL, formerly known as SPECIFIC REVEALRapid AST System. This rapid, modular, antimicrobial-susceptibility test platform that can deliver actionable results for Gram-negative bacteria directly from positive blood cultures in an average of five and a half hours1 enabling same-day treatment decision-making for patients suffering from bacteremia sepsis.
- In 2023, Bruker introduces fast next-generation MALDI Biotyper IVD Software. The MBT Compass HT IVD software provides a high sample throughput for microbial identification with time-to-result of ~5 minutes for 96 sample spots. Because of a fast sample target exchange, the MBT system can now analyze up to 600 samples per hour, while covering over 4,600 species in the reference library.
- In 2022, BioMérieux, a world leader in the field of in vitro diagnostics, has entered into an agreement to acquire Specific Diagnostics, a privately held US based company that has developed a rapid antimicrobial susceptibility test (AST) system that delivers phenotypic AST directly from positive blood cultures. BioMérieux has held a minority stake in Specific Diagnostics since 2019, and the two companies had signed a co-distribution agreement covering the European market in 2021. With the addition of SPECIFIC REVEAL Rapid AST, the unique and comprehensive BioMérieux Sepsis Solution allows same-day AST results for Gram-negative bacteria to enable more targeted therapy and improve patient outcomes.
- In 2022, Beckman Coulter, partnered with Germany-based company Smart4Diagnostics to close the preanalytical data gap between blood collection and laboratory analysis due to errors that take place before the sample arrives in the laboratory, such as sample collection, patient identification, sample handling, sample transportation, sample loss, etc.
- In 2020, Becton, Dickinson and Company obtained the CE mark approval for the BD Vacutainer UltraTouch Push Button Blood Collection Set (BCS) with Preattached Holder. The one-handed safety activation of the push button allows clinicians to activate the safety mechanism while still attending to the patient and venipuncture site.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=159606753
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States