Enjoy complimentary customisation on priority with our Enterprise License!
The bloodstream infection testing market share is expected to increase by USD 3.56 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.01%.
This bloodstream infection testing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bloodstream infection testing market segmentations by technology (conventional testing and non-conventional testing) and geography (North America, Europe, Asia, and ROW). The bloodstream infection testing market report also offers information on several market vendors, including Abbott Laboratories, Accelerate Diagnostics Inc., Becton, Dickinson and Co., bioMerieux SA, Bruker Corp., Danaher Corp., F. Hoffmann La Roche Ltd., Grifols SA, Siemens Healthineers AG, and Thermo Fisher Scientific Inc. among others.
Download the Free Report Sample to Unlock the Bloodstream Infection Testing Market Size for the Forecast Period and Other Important Statistics
The increasing hospital visits is notably driving the bloodstream infection testing market growth, although factors such as high cost of instruments may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bloodstream infection testing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bloodstream Infection Testing Market Driver
The increasing hospital visits is a major factor driving the global bloodstream infection (BSI) testing market share growth. The prevalence of chronic diseases is increasing globally, which is raising the number of patient visits to hospitals. Hospitals are a prominent source of infection, resulting in a rise in morbidity and mortality in hospitalized patients. Intensive care units are often the epicenter of these infections, mainly because they are vulnerable to infections through multiple invasive, therapeutic, and diagnostic procedures. Sepsis is a common sequela of BSIs. The increasing incidences of BSI have created a significant social and economic burden on the healthcare system, an estimated cost exceeding $17 billion dollars, per year, in the US. Similarly, BSIs are also a huge healthcare burden on countries such as Australia. Globally, the aging population is increasing. Countries such as Japan, the UK, the US, and Germany have vast aging populations. The elderly are prone to infections due to low immunity. It is estimated that infections in the elderly will increase by 8%-10% by 2030. This will increase the demand for blood culture tests performed on patients, thereby driving the market growth. This is expected to impact the bloodstream infection testing market positively during the forecast period.
Key Bloodstream Infection Testing Market Trend
The increased adoption of automation in healthcare is another factor supporting the global bloodstream infection testing market share growth. Advances in technology have improved the testing methods for BSI with more accurate, sensitive, and faster outcomes and offering a broader range of pathogen detection compared with the traditional methods. Automation also improves productivity as it reduces the chances of human error. Automation contributes to data-driven insights as the technology used to automate processes can deliver a large volume of data, which can be used for performance improvement and optimization. With each step, automated systems collect data on the working of the process and use the information to improve the same process, which increases throughput and reduces the workload on healthcare professionals. Globally, automation systems to detect BSIs are increasingly being adopted due to their wide array of features and advantages. Automation in the workflow for these tests is reducing the turnaround time. Automated blood collection equipment is being increasingly used in experiments, such as for the identification of HIV and the Zika virus. The efficiency and effectiveness of these systems will encourage their adoption during the forecast period, thereby driving the market growth.
Key Bloodstream Infection Testing Market Challenge
The high cost of instruments will be a major challenge for the global bloodstream infection testing market share growth during the forecast period. Automated BSI testing products such as blood culture test instruments and equipment are generally expensive. The real-time PCR instruments are more expensive than other instruments. The real-time PCR detection systems by BioRad Laboratories cost $8,000-$10,000 and by Applied Biosystems $13,000-$15,000. The blood culture test market is highly impacted by expensive instruments in developing countries than in developed countries due to the lower affordability of people. However, instruments are a one-time investment, the high cost of maintenance of these instruments curbs their demand from hospitals and other end-users. For instance, BACTEC FX by BD costs $21,590, whereas VITEK by Thermo Fisher Scientific is priced at $6,800.Further, highly professional personnel and cutting-edge technology and machinery are required for handling the tests. Thus, setting up a laboratory requires a significant amount of capital, which is often a challenge for individual customers or small-scale laboratories.
This bloodstream infection testing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global bloodstream infection testing market as a part of the global life sciences tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bloodstream infection testing market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the bloodstream infection testing market encompasses successful business strategies deployed by the key vendors. The bloodstream infection testing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bloodstream infection testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bloodstream infection testing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global life sciences tools and services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Technology
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.