Blood cultures are defined as microbiological blood cultures to detect blood-borne infections. Bacteremia and septicemia among others are infections that spread through the blood stream. The bloodstream is usually a sterile environment, which is possible. A bad blood culture has negative effects including risks of false venipuncture and false positive results. This phenomenon has been observed in more than 3% of cases of blood culture and can be impaired by improper treatment and diagnosis. Bloodstream infections (BSI) is a leader in global health and medical expenses and is the leading cause of morbidity and mortality. Another 1 million patients in the US are estimated to be diagnosed for BSI, costing nearly one billion dollars for the healthcare system.
The report provides analysis of global Blood Culture Test market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Blood Culture Test market is expected to grow at noteworthy CAGR around 8.5 % throughout the forecast period and reach around US$ 6.7 billion by 2026.
The drivers for the blood testing industry include high blood infection incidences, increasing demand for rapid diagnosis testing, a large share of aging populations across countries as well as rapid medical progress, increased awareness of patients and increased patient adoption of state-of - the-art technologies. Multiplex PCR systems, the use of a molecular approach and mass spectrometry and electric spray ionization are some of the newest technologies for blood culture testing. Market restrictions include high expenses for advanced techniques of blood culture and the lack of adequate refund policies. Moreover, in developing countries or other resource poor nations, lack of adequate training of medical technicians is expected to impede the market's revenue growth.
Regulatory authorities have been significantly driving growth by the increasing approval rate of new products, such as instruments and consumer products for Bloodstream Infections (BSI). Blood testing plays a vital role in diagnosing, among other infections, bacterial, fungal and mycobacterial. Several techniques are used by health care professionals for infection detection, including conventional / manual and automated blood culture methods. This will lead to an increase in demand in the near future.
In addition to the development of advanced products such as instruments, consumer products and software, R&D activities have increased by many healthcare companies. Investing in R & D to develop new products is a key strategy for providers to support their businesses ' long-term growth. For example, the leading supplier of blood testing products to Becton, Dickinson and Company invested some 1,430 million USD in 2016 in R&D.
The development and production of diagnostic products, including blood cultivation products, could hinder stringent government regulations. market development could be prevented. Before a regulatory approval, rigorous trials are carried out in the diagnostic products such as instruments, kits, reagents, media and testing. The costs of the manufacturers and the launch delays are thus significantly higher. The marketing of diagnostic products depends on the successful completion of the long, unsafe and costly clinical trials. Furthermore, the retrieval of products is another important challenge faced by manufacturers that could negatively affect growth.
Due to the growing application of products such as blood culture media, tests, kits and reagents, and other accessories to diagnostics for 2018, consumer goods were the major revenue generating segment on the market for tests on blood culture. Moreover, repetitive consumption purchases are another important driver for the growth of the sector. During the forecast period, the segment of the instruments shall bear witness to significant CAGR due to product progress. The automated systems, incubators and colonies are widely used in clinics and other diagnostic laboratories.
In order to respond to their customers ' needs, diagnostic companies focus on developing advanced products. In July 2014, for example, bioMérieux, a leading diagnostic company, announced its VIRTUO product, an advanced blood culture control system for microbial detection, to achieve a CE mark. The need for advanced products for blood cultures is high because BSI and infectious illnesses are becoming more prevalent. Advanced automated systems deliver fast results, minimize the risk of pollution and produce extremely reliable outcomes.
The market is forged into conventional and automated on the basis of technology. Conventional technology, due to its widespread use by hospitals, independent clinical Labs and pathology laboratories, was the highest incomes segment in 2018. Due to technological progress like faster and accurate results and rising R&D investments from manufacturers for new product development, automated blood culture technology will present the highest CAGR over the forecast period.
The companies aim to launch highly reliable and effective testing for their customers on advanced instruments and consumables. For example, in June 2014, BD BACTEC FX40 and the BD EpiCenter Microbiology Data Management System were launched by Becton, Dickinson and Company. A high market share is expected from the United States, Germany, France, UK, China, Japan, and India. Increasing prevalence and availability of a health infrastructure, the presence of a great number of diagnostic companies are some of the factors which are anticipated to contribute to growth.
The market is divided into culturally based, molecular and proteomic based on technology. The cultural technology sector held the largest share in revenues on the market in 2018. This is because different laboratories like hospitals, references, pathologies and medical laboratories are highly using this technology. The highest CAGR in the forecast period is expected in the molecular technology segment. Growing manufacturing R&D investments and increased infectious disease incidence have led to demand for rapid diagnostic techniques to identify the presence of bacterial or fungal infections in the blood.
The demand for state-of - the art diagnostic technologies such as Microarray, PCR and Peptide Nucleic Acid–PNA-FISH is expected to increase market growth. Due to its advantages such as higher accuracy, reduced test times and higher testing specificity, PNA FISH is expected to be the highest CAGR in the forecast period. The need to test blood culture has been driven by the development of health infrastructure and increasing disposable revenues in the region of Asia Pacific and MEA. Additionally, increased government initiatives to provide improved healthcare facilities and advanced technologies are expected to boost the use of these tests.
Due to many major health companies such as Becton, Dickinson and Company; bioMérieux SA; Thermo Fisher Scientific, Inc.; and Roche Diagnostics, North America was at the forefront in terms of revenues in 2018. Due to its presence. The growth of the Europe market is expected to be driven in European countries such as Germany, United Kingdom, Switzerland and Germany, by the availability of advanced diagnostic products and by the presence of highly developed health infrastructures. In addition, increasing investment in R&D is expected to foster growth by manufacturers for new product development.
During the forecast period as the most prevalent infectious diseases and development of the healthcare infrastructure are expected to be observed in Asia Pacific. Many diagnostic companies, such as China and India, are targeting business expansion in Asian countries. Some of the key factors contributing to regional market growth have a large target population base and increased disposable income in Asia Pacific.
Global Blood Culture Test Market, by Product
Global Blood Culture Test Market, by Technique
Global Blood Culture Test Market, by Technology
Global Blood Culture Test Market, by Application
Global Blood Culture Test Market, by End Use
Global Blood Culture Test Market, by Geography
The market research study on “Blood Culture Test Market (By Product: Consumables [Bacterial Infections, Fungal Infections, Mycobacterial Infections, Blood Culture Media, Assay, Kits, and Reagents, Blood Culture Accessories], Instruments [ Bacterial Infections, Fungal Infections, Mycobacterial Infections, Laboratory Equipment, Automated Blood Culture Systems], Software & Services [Bacterial Infections, Fungal Infections, Mycobacterial Infections]; By Technique [Conventional, Automated]; By Technology: Culture-based Technology, Molecular Technology [PCR, Microarray, PNA-FISH], Proteomic technology; By Application: Bacterial Infections, Fungal Infections, Mycobacterial Infections; By End Use: Hospital Laboratories, Reference Laboratories, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Blood Culture Test market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The Blood Culture Test market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players are Becton Dickinson and Company; Thermo Fisher Scientific, Inc.; bioMérieux SA ; Danaher Corporation ; Rohe ; Bruker Corporation ; and Abbott Laboratories. Luminex Corporation ; Roche Diagnostics and Thermo Fisher Scientific, Inc. are leading producers such as Becton, Dickinson and company to supply their strong global distribution channel with a wide variety of advanced blood culture test products. It has resulted in intense competition between producers, which is expected to influence the seller's profit margin. Mergers and procurements help manufacturers extend with geographic scope their existing product portfolio. In June 2016, for example, Luminex Corporation acquired Nanosphere, Inc. to reinforce its molecular microbiology and diagnostic companies.