SAN FRANCISCO, June 15, 2016 /PRNewswire/ -- Global blood testing market is anticipated to reach USD 62.9 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of testing and screening methodologies that enhance near patient diagnosis through enhanced blood testing that reduce diagnostic turnaround times and lower hospitals stay durations is a major factor expected to provide lucrative growth in demand for the market.
Federal agencies that play a major role in regulation of genetic tests, including Centers for Medicare and Medicaid Services, Food and Drug Administration, and Federal Trade Commission, have also undertaken initiatives expected to further enhance market usage of Clinical Laboratory Improvement Amendments (CLIA) compliant tests in the market. These steps reinforce the goals set by national governments and the medical fraternities to strengthen early diagnostic capabilities across a number of key geographic regions.
Increasing levels of patient awareness that have been witnessed in a number of demographic factions across developed and developing countries alike is another notable factor expected to drive growth. Growing prevalence of chronic diseases such as diabetes that warrant long term disease management is also a considerable factor attributive of growth potential over the forecast period.
Access full research report at: http://www.grandviewresearch.com/industry-analysis/blood-testing-market
- Glucose testing is estimated to be the dominant segment in 2015 owing to the high number of awareness programs carried out by various diabetes management focused associations. Presence of several local and established players in this segment that serve the market with a broad portfolio of point-of-care and portable meters for blood glucose monitoring is another factor reinforcing the dominance of this segment.
- Glycated hemoglobin (aka A1C) is anticipated to witness relatively faster growth among the market segments over the forecast period owing to associated higher patient convenience, faster turnaround time, higher accuracy and reliability for testing.
- Outlook, by Test Type (Revenue, USD Million, 2013 - 2024)
- Glucose testing
- Lipid panel testing
- Direct LDL testing
- Prostate specific antigen testing
- BUN testing
- A1C testing
- High sensitivity CRP testing
- Vitamin D testing
- ALT testing
- Thyroid stimulating hormone testing
- Creatinine testing
- Serum nicotine/cotinine testing
- AST testing
- Cortisol testing
- Testosterone testing
- Other blood tests
- Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- Asia Pacific
- Latin America
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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SOURCE Grand View Research, Inc.