Blood Stream Infection Testing Market
When any kind of infection is found in the blood, whether bacterial, fungal, or otherwise, this is known as a blood stream infection. As the virus or bacteria reaches the circulatory system, symptoms become apparent. Blood stream infection testing is used to identify the bacteria or organisms responsible for the infection. When the human population grows, the standard of living declines, making people more susceptible to catching infectious diseases. As of 2016, the world’s population had risen to an estimated 7.44 billion, per a report from the World Bank. The increasing global population is driving expansion in the blood-borne illness diagnostics market. A self-diagnosis of a bloodstream infection might be challenging due to the similarity of its symptoms. For these reasons, testing should be required in order to detect the infection in the bloodstream. In turn, this helps the market expand. Antibiotic resistance indicators in bacteria are monitored by the blood stream infection test. Sepsis is also diagnosed with it.
A CAGR of 8.4% is projected for the global blood stream infection testing market, which was worth US$ 3,758.7 million in 2017. (2019 – 2026).
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The market for blood stream infection testing is anticipated to expand as a result of the rising incidence of chronic diseases, such as diabetes and cancer.
Inadequate housing and overcrowding are key contributors to the spread of disease. Market expansion is anticipated as a result of rising public consciousness about the importance of routine blood testing for chronic diseases like cancer, HIV, and pneumonia. The market for blood stream infection testing is expanding thanks to new product launches, increased spending on R&D, and consolidation among leading providers.
Over the forecast period, the market is expected to rise due to factors such as rising demand for technologically sophisticated diagnostic tests, increased awareness about hygiene, higher diagnosis rates, and an unhealthy lifestyle.
Yet the market for bloodstream infection testing may be hampered by factors such as the absence of medical reimbursement, the high cost of diagnosis, and the rigid regulatory environment connected to diagnostic methods.
The growth of the market has been fueled by the migration of blood-stream-infection-testing factories to North America.
The global market for testing for blood stream infections is divided up on the basis of geography into the regions of North America, Europe, Asia Pacific , Latin America, , the Middle East, and Africa. As of 2018, the market for blood stream infection testing was dominated by North America because of the region’s focus on preventative healthcare and its widespread acceptance of new technologies in the field. The market for testing for blood stream infections in North America is growing because of the region’s high diagnosis rate and advanced medical facilities.
Also, the Asia-Pacific area is anticipated to expand at a faster rate than the rest of the world during the projection time frame. This is because of the region’s high prevalence of chronic diseases. The proliferation of cutting-edge technologies that provide patients with superior results at somewhat reduced prices is another factor fueling the expansion of the blood stream infection testing industry. In 2017, for instance, scientists from the National Cancer Center Japan (NCC) and Toray Industries, Inc. collaborated on a breakthrough technique that could identify thirteen distinct forms of cancer with only a single blood sample.
In another illustration, in 2017, Luminex Corporation stated that the Central Social Insurance Medical Council of Japan has granted payment for two VERIGENE assays, the gramme positive and negative blood culture test. The Japanese Ministry of Health, Labor, and Welfare suggests this type of compensation. Pathogens from the bloodstream of a variety of infectious disorders can be detected by the VERIGENE system.
Key Players
BioMérieux SA; Becton, Dickinson and Company; AB Sciex; IRIDICA; Abbot Laboratories; Cepheid Inc.; C. R. Bard, Inc.; F. Hoffmann-La Roche AG; Nanoshpere; Dade Behring; AdvanDX; and Siemens Healthcare are all major competitors in the blood stream infection testing industry.
| The market size value in 2023 |
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Market Overview
- Definition of Blood Stream Infection Testing Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Blood Stream Infection Testing Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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