LONDON, Sept. 13, 2023 /PRNewswire/ -- According to a comprehensive research report by Brandessence Market Research (BMRC), "Blood Culture Test Market Size, Share Outlook Growth By Top Company, Development, Application, Segmentation, Trends And Forecast 2021-2027". The Blood Culture Test Market was valued at USD 3.05 Billion in 2018 and expected to reach USD 5.61 Billion by 2025, amplifying with a CAGR of 9.1% over the forecast period.
Blood culture tests are biological tests that are typically conducted to determine the presence of disease-causing microorganisms in an individual's bloodstream. Through this, healthcare providers can easily diagnose bloodstream infections and make effective treatment decisions. The procedure of these tests involves the drawing out of blood using syringe or needle followed by placing the sample in a special culture bottle that contains a nutrient-rich medium that promotes the growth of microorganisms. After incubating the bottle for 24 to 48 hours, these bottles are evaluated to check of the signs of fungal or bacterial growth based on parameters such as changes in colour, cloudiness, or the presence of clump.
Brandessence Market Research has recently curated a report on Blood Culture Test Market with an aim to equip businesses with comprehensive insights about this industry. The growth drivers, restraints, opportunities, and challenges of this market are well elaborated in this study. It also offers a 360-degree outlook of the top market segments and geographical landscape with accurate growth projections of each region, country, and niche segments. Apart from that, it highlights each player operating in this industry with prime focus on their product portfolio, revenue, brand strategies, expansion, and other crucial aspects.
Key Takeaways:
- Blood Culture Test Market is poised to amplify with a CAGR of 9.1% over 2022-2029.
- Growing prevalence of bloodstream infections along with the escalating demand for early disease diagnosis and treatment are aiding industry expansion.
- MEA is projected to account for a substantial revenue share due to the growing prevalence of bloodstream infections and increased healthcare expenditure.
Animal Genetics Market Report Scope:
Report Metric | Details |
Blood Culture Test Market Revenue Forecast in 2025 | USD 3.05 Billion |
Market Size in 2025 | USD 5.61 Billion |
Market Growth Rate | CAGR of 9.1% from over the forecast period. |
Base Year | 2021 |
Study Period | 2022-2029 |
Key Players/Companies | bioMérieux SA, Abbott Laboratories, Siemens AG, Becton Dickinson, Bruker Corporation, Bayer Healthcare, Thermo Fisher Scientific Inc., Merck, Beckman Coulter Inc. (Danaher), Roche Diagnostics. |
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Blood Culture Test Market was valued at USD 3.05 Billion in 2018 and is anticipated to reach USD 5.61 Billion by 2025, amplifying with a CAGR of 9.1 % over 2022-2029.
Elaborating the key trends and dynamics of Blood Culture Test Market
Growing prevalence of bloodstream infections along with the escalating demand for early disease diagnosis and treatment are primarily augmenting the outlook of this business vertical. Rapid surge in the geriatric population base, increased healthcare expenditure, along with growing R&D activities in the field are adding momentum to the progression of this industry sphere. Moreover, the influx of advanced technologies in the healthcare domain and growing number of clinical trials are creating lucrative opportunities for this market space to prosper.
Major growth drivers:
Rising instances of bloodstream infections- There is a rising pervasiveness of bloodstream infections across the globe. These infections generally occur when disease-causing microorganisms enter our bloodstream through the urinary track or other parts of the body. Bloodstream infections may have severe health impacts and may even lead to deaths in serious instances. The early diagnosis and treatment of these disorders is very important. This in turn is stimulating the overall dynamics of this marketplace.
Technological advances- The healthcare sector is experiencing a rapid influx of advanced technologies. Even in terms of blood culture testing, several innovative technologies have emerged which in turn has improved the speed, accuracy, and sensitivity of these tests. Certain advanced techniques such as automated blood culture systems and molecular diagnostics have brought about a breakthrough in this field. These factors together are creating an upward trend in this industry.
Challenges:
Time-consuming nature- The collected blood samples are required to be incubated for at least 24 to 68 hours in order to identify the presence of disease-causing microorganisms. But this can be a significant challenge in cases where real-time diagnosis is required. Delayed results may lead to the further deterioration of the patient's health. This in turn is hindering the remuneration scope of this market space.
Competitive landscape of Blood Culture Test Market:
The prominent players defining the competitive terrain of this business vertical are:
- bioMérieux SA
- Abbott Laboratories
- Siemens AG
- Becton Dickinson
- Bruker Corporation
- Bayer Healthcare
- Thermo Fisher Scientific Inc.
- Merck
- Beckman Coulter Inc. (Danaher)
- Roche Diagnostics.
- Others
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Segmental Assessment:
By product, the consumables segment is reckoned to amass notable gains over 2022-2029. This is due to the repeated requirement for consumables to conduct these tests.
Based on technology, the culture-based technology segment is slated to garner significant returns over estimated timeline. This is attributable to the growing adoption of this technology across various labs for the early and efficient detection of bloodstream infection.
Geographical analysis & landscape:
Middle East & Africa Blood Culture Test Market:
MEA is projected to account for a substantial revenue share over 2022-2029. This is attributable to the growing prevalence of blood stream infections, increased healthcare expenditure, along with surging R&D activities in the field. Alongside, widespread technological advancements in the field and establishment of well-equipped laboratories are adding momentum to the progression of this business vertical.
Europe:
Europe is slated to emerge as one of the fastest growing regions owing to the increased burden of target diseases, surge in the geriatric population base, and rapidly evolving healthcare infrastructure. Moreover, presence of prominent cell culture test providers. Moreover, escalating demand for early disease diagnosis and treatment is another growth propellant for this market space.
Opportunities in this industry:
Rapidly evolving healthcare infrastructure- The expansion of healthcare infrastructure, particularly in developing regions, has led to increased accessibility to diagnostic services. Investments in healthcare facilities, including laboratories and hospitals, contribute to the growth of the blood culture tests market by enabling greater availability of testing facilities and driving the demand for these tests.
Major Developments in Blood Culture Test Market:
Acquisitions:
In 2021, Bruker Corporation, a provider of scientific instruments and diagnostic solutions, acquired Hain Lifescience GmbH, a leading provider of molecular diagnostic assays.
Porter's Five Forces Analysis:
Threat of New Entrants: The threat of new entrants in the blood culture test market is relatively low. Establishing a presence in this market requires significant investments in research and development, regulatory approvals, and manufacturing capabilities. Additionally, well-established companies already hold patents and intellectual property rights, creating barriers to entry. Overall, the high entry barriers and the need for specialized expertise limit the threat of new competitors.
Bargaining Power of Suppliers: Suppliers in the blood culture test market, such as manufacturers of culture media, reagents, and equipment, generally have moderate bargaining power. While there are multiple suppliers in the market, the concentration of suppliers and their ability to provide high-quality products can impact their bargaining power. However, healthcare providers also have the option to switch suppliers, reducing the overall impact of supplier bargaining power.
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Bargaining Power of Buyers: Buyers in the blood culture test market, such as hospitals, laboratories, and healthcare providers, typically have moderate to high bargaining power. They have the ability to negotiate prices, demand quality products, and choose from a range of suppliers. Additionally, the availability of alternative diagnostic solutions and the importance of cost-effectiveness in healthcare purchasing decisions further increase buyer bargaining power.
Threat of Substitutes: The threat of substitutes in the blood culture test market is relatively low. Blood culture tests are the gold standard for diagnosing bloodstream infections and are essential in guiding appropriate treatment decisions. While there are alternative diagnostic methods available, such as molecular diagnostics or serological tests, blood culture tests remain crucial for accurate detection and identification of microorganisms causing bloodstream infections.
Competitive Rivalry: The blood culture test market exhibits a moderate level of competitive rivalry. Key players in the market compete based on factors such as product portfolio, technological advancements, pricing, and customer support. The market is characterized by a few dominant companies that hold significant market shares. However, the introduction of innovative technologies, mergers and acquisitions, and the entry of new players can influence the competitive dynamics within the market.
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