Market Research Future (MRFR) has thoroughly studied the trends and patterns in the Global Bilirubin Blood Test Market and portends the market to expand Healthy Growth over the forecast period of 2019-2023.
The global market for bilirubin blood test is expanding steadily on account of the high prevalence of neonatal jaundice in infants and increasing demand for portable and hand-held diagnostic devices.
Global Bilirubin Blood Test Market size is projected to touch USD 1,853.2 million by the end of the forecast period (2016-2027). A bilirubin blood test helps assess the health of your liver and is also commonly used to help diagnose newborn jaundice. It involves a healthcare professional taking a blood sample from a vein in the arm, using a small needle.
Blood is collected into a test tube and then is tested to diagnose disorders related to problems with red blood cell production. In other words, this test helps determine the cause of jaundice and also help diagnose conditions such as liver disease, hemolytic anemia, and blockage of the bile ducts.
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Although the market is growing at a stable rate, lack of awareness and skilled professionals is expected to deter the market growth during the review period. However, constant technological innovations and product enhancements by market players can fuel the market growth to a large extent. For instance, a technique called transcutaneous bilirubin measurement has recently been developed in Singapore. It is cheaper than the traditional test, highly accurate, and delivers rapid results. The foremost feature is the painless procedure and does not cause any kind of trauma to the infant.
Some of the key players in this market are Thermo Fisher Scientific Inc., Koninklijke Philips N.V., F. Hoffmann-La Roche AG, Beckman Coulter, Inc., and Randox Laboratories Ltd.
MRFR’s report offers an extensive segmental analysis of the market on the basis of test type, product type, application, and end-user.
By test type, the global bilirubin blood test market is segmented into total serum bilirubin (TSB), direct/conjugated bilirubin test, and indirect/unconjugated bilirubin test. Among these, the total serum bilirubin segment captured the largest market share with a market value of USD 495.4 million in 2015 and is expected to register a CAGR of 5.77% during the forecast period.
The market, based on product type, is segmented into consumables and instruments. Consumables are anticipated to hold the largest market share over the review period, registering the fastest CAGR of 5.02% from 2016 to 2027.
By application, the market is segmented into pediatric/infants and adults. The segment of pediatric/infants is increasing due to high prevalence of jaundice among infants. The segment will capture the largest market share over the appraisal period and is anticipated to register a CAGR of 5.70% during the assessment period.
By end-user, the bilirubin blood test market is segmented based on hospitals, pediatric clinics, and home healthcare. Among these, the hospital segment is projected to lead the global bilirubin blood test market due to the growing demand for bilirubin blood tests.
The global bilirubin blood test market is spread across four regions of the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas accounted for the largest share of the global market, comprising two regions, namely, North America and South America. Among these, North America possesses the largest market owing to the presence of a large number of biotechnology companies engaged in the production of innovative products. Moreover, a large number of market players in the region indulge in acquisitions and partnerships to solidify their market presence and also expand their product portfolio.
On the other hand, Europe accounted for the second largest market due to the growing prevalence of infant jaundice and the rising frequency of government initiatives to create awareness of these tests. Well-developed technology in the field can spur the bilirubin blood test market in the region.
Among all regions, Asia Pacific is estimated to be the fastest growing region on account of a huge patient population. In addition, increasing healthcare expenditure coupled with favorable government policies in developing nations such as India and China contribute to the market growth in this region.
Lastly, the Middle East and Africa hold the least market share due to the presence of low economic conditions, particularly in the African region.
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