Technical Advancements in Blood Testing to Push Market

Published Date : Jun 29, 2016

Blood testing is a laboratory-based analysis of the blood that helps determine the overall state of the health of a person. Blood testing can be also detect the presence of bacteria and virus and assess the progress of a disease. Blood test can help detect major health issues such as HIV/AIDS, anemia, diabetes, cardiovascular diseases, and cancer. Blood testing is often recommended by physicians for assessing the normal functioning of the body. It is also performed to analyze how well the key organs of the body such as liver, thyroid, and kidney are functioning. 

Rise in the Prevalence of HIV and Cancer to Boost Blood Testing Market

The global blood testing market is driven by the growing geriatric population. A rise in the prevalence of cancer, thyroid, HIV, and genetic disorders is propelling the market for blood testing across the globe. The existence of several bacterial and viral allergic disorders is also leading to a rise in the number of blood tests worldwide. The growing demand for point of care testing (POCT) will also benefit the blood testing market. Technical advancements resulting in the development of innovative testing tools and equipment will further drive the market.

Asia Pacific to be Fastest Growing Region in Boost Blood Testing Market

North America led the blood testing market in 2012 and is expected to retain its dominant hold over the market in the coming years. Europe is expected to be the second largest regional market in the coming years. However, Asia Pacific is expected to be the fastest growing regional segment in the coming years, with Japan, India, Australia, and China being the most potential markets. The Rest of the World market will grow owing to high demand for blood tests in Latin America, Africa and the Middle East.