New York, NY -- (SBWIRE) -- 07/17/2019 -- It provides a historical assessment of the trends observed in the data gathered to speculate the development in its size, share, demand, total earnings, and revenue. It considers the years from 2016 and 2017 for collecting the historical data while considering 2018 as the base year to draw a forecast for the up to 2026. This analysis predicts the demand and growth rate for the industry in the upcoming years.
The global Bloodstream Infection Testing market was valued at over USD 3 billion in 2018 and is projected to grow at a CAGR of more than 8% over the forecast period. Bloodstream infection (BSI) are infectious diseases which are caused when a viable bacterial or microorganisms enter the bloodstream. That is why Bloodstream Infection testing/Blood culture tests are essential. Blood culture tests are vital in diagnosing bacterial, fungal, and mycobacterial, among other infections. Several techniques, including conventional/manual as well as automated blood culture methods, are employed by healthcare professionals to detect infections. This is one of the primary reasons that the demand is expected to rise in the near future. According to the World Health Organization (WHO), nearly 250,000 cases of BSI are reported in the U.S. every year. This uprising of infectious diseases is the main factor for the growth of the Bloodstream Infection Testing business. The initiatives taken by the government pertaining to the prevention of such contagious diseases has also aided the market.
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Many manufacturers have been focusing on the development of better solutions to fight BSI by the development of products such as consumables, instruments, and software, but the regulations and procedures laid out by the government to manufacture such products could slow down the growth of the sector. Commercialization of the diagnostics products will produce a significant monetary benefit to manufacturers, but the whole process depends on the successful completion of the clinical trials, which is a lengthy and costly process. Along with this, another challenge manufacturers might face is product recall.
Key findings from our Bloodstream Infection Testing Market forecast report
In 2018, consumables generated substantial revenue in the bloodstream infection test industry, due to rising application of products, including, blood culture media, assay, kits, and reagents, and other accessories, for diagnostics applications. Molecular testing is expected to expand during the forecast period. This study also analyses the segments of the Bloodstream Infection Testing sector which are divided based on product as Consumables, Instruments, and Software; by technique as Conventional and Automated; by Technology viz., Culture-based and Molecular Proteomic; and by application as Bacterial, Fungal, and Mycobacterial. Based on end use, the industry is segmented as Hospital Laboratories, Reference Laboratories, Academic Research Laboratories, and Others. This report also offers the drivers and restraints that are expected to affect the global Bloodstream Infection Testing industry and sheds light on the various opportunities to grab onto during the forecast period.
Global Bloodstream Infection Testing Market
The global Bloodstream Infection Testing market is projected to undergo a steady rise in the forecasted years as observed by the outcome of the analysis provided in this study and also encompasses the global key players in the Bloodstream Infection Testing sector. North America had the highest number of blood tests to be accounted for in 2018. This is due to the presence of excellent healthcare infrastructure in this region. Asia Pacific is expected to have the highest CAGR during the forecast period. The key geographical regions mapped here are North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This report gives a competitive analysis of the individual standing of the companies and manufacturers against the global landscape. The forecast also provides the expected course the market might take upon and its impact on businesses to help the reader curate lucrative business stratagem.
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Key players operating in the Bloodstream Infection Testing Market:
- Becton
- Dickinson and Company
- BioMérieux SA
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Luminex Corporation
- Roche
- Bruker Corporation
- Abbott Laboratories.
Market segment by Product:
- Consumables
- Instruments
- Software
Market segment by Technique:
- Conventional
- Automated
Market segment by Technology:
- Culture-based
- Molecular Proteomic
Market segment by Application:
- Bacterial
- Fungal
- Mycobacterial
Market segment by End Use:
- Hospital Laboratories
- Reference Laboratories
- Academic Research Laboratories
- Others
Market segment by Region/Country include:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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