Blood culture tests: Key market research findings
- High incidence of BSI drives market growth
- Consumables account for a majority of the market’s revenue
- Key vendors – bioMérieux, BD, Roche Diagnostics, ThermoFisher Scientific, and Cepheid
The market research analysts at Technavio predict the global market for blood culture tests to grow at a CAGR of over 7% between 2016 and 2020. The demand for blood culture tests is spurred by the high incidences of blood stream and transfusion infections. Despite advancements in therapy and supportive care, BSIs continue to be a major cause of morbidity and mortality among hospitalized individuals. In hospitals, ICUs account for most of the cases of BSIs, as people in these units are most susceptible to infections through multiple invasive therapeutic and diagnostic procedures. During 2015, the global market for blood culture tests was dominated by the Americas with a market share of more than 48%. Increased awareness about blood safety and transfusion-transmitted infections in countries like the US and Canada will fuel accelerate growth in the blood culture tests market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the blood culture test segments based on the product.
“Rapid identification of microorganisms in clinical laboratories is of great value for the selection of optimal patient management strategies for inhibiting bacteria, viruses, fungi, mycobacteria, and parasites. There is a critical need for new technologies in the area of clinical microbiology, particularly for detecting BSIs that are responsible for the highest number of deaths worldwide. Rapid diagnostics tests offer rapid identification of pathogens, are cost-effective to a certain extent, and help in the effective targeting of antimicrobial therapy in hospitals,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
By 2020, the consumables segment will account for more than 58% of the market share to continue its dominance over the global market for blood culture tests. Consumables used in blood culture tests are advanced specific biological components that help detect the presence of bacteria, fungi, and mycobacteria even in small quantities. Consumables are used in bulk during sample analyses, which generates more return on investments for manufacturers. Companies are also developing innovative and specific reagents that mimics the processing of a patient’s blood sample, such as Gibson Bioscience’s blood culture control verification kit.
Key vendors in the global blood culture tests bioMérieux, BD, Roche Diagnostics, ThermoFisher Scientific, and Cepheid. Established vendors have greater brand recognition, financial and technical resource, and production and marketing capabilities. Local and small-sized vendors develop cost-effective and less complex tests to remain competitive in the market. Furthermore, new players need to develop efficient and cost-effective blood culture tests to compete against current and future market entrants and increase the acceptance of their products.
A more detailed analysis is available in the Technavio report, Global Blood Culture Tests Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
