Bloodstream Infection Testing Market by Technology and Geography - Forecast and Analysis 2021-2025

The bloodstream infection testing market share is expected to increase by USD 3.56 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.01%.

This bloodstream infection testing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bloodstream infection testing market segmentations by technology (conventional testing and non-conventional testing) and geography (North America, Europe, Asia, and ROW). The bloodstream infection testing market report also offers information on several market vendors, including Abbott Laboratories, Accelerate Diagnostics Inc., Becton, Dickinson and Co., bioMerieux SA, Bruker Corp., Danaher Corp., F. Hoffmann La Roche Ltd., Grifols SA, Siemens Healthineers AG, and Thermo Fisher Scientific Inc. among others.

What will the Bloodstream Infection Testing Market Size be During the Forecast Period?

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Bloodstream Infection Testing Market: Key Drivers, Trends, and Challenges

The increasing hospital visits is notably driving the bloodstream infection testing market growth, although factors such as high cost of instruments may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bloodstream infection testing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bloodstream Infection Testing Market Driver

The increasing hospital visits is a major factor driving the global bloodstream infection (BSI) testing market share growth. The prevalence of chronic diseases is increasing globally, which is raising the number of patient visits to hospitals. Hospitals are a prominent source of infection, resulting in a rise in morbidity and mortality in hospitalized patients. Intensive care units are often the epicenter of these infections, mainly because they are vulnerable to infections through multiple invasive, therapeutic, and diagnostic procedures. Sepsis is a common sequela of BSIs. The increasing incidences of BSI have created a significant social and economic burden on the healthcare system, an estimated cost exceeding $17 billion dollars, per year, in the US. Similarly, BSIs are also a huge healthcare burden on countries such as Australia. Globally, the aging population is increasing. Countries such as Japan, the UK, the US, and Germany have vast aging populations. The elderly are prone to infections due to low immunity. It is estimated that infections in the elderly will increase by 8%-10% by 2030. This will increase the demand for blood culture tests performed on patients, thereby driving the market growth. This is expected to impact the bloodstream infection testing market positively during the forecast period.

Key Bloodstream Infection Testing Market Trend

The increased adoption of automation in healthcare is another factor supporting the global bloodstream infection testing market share growth. Advances in technology have improved the testing methods for BSI with more accurate, sensitive, and faster outcomes and offering a broader range of pathogen detection compared with the traditional methods. Automation also improves productivity as it reduces the chances of human error. Automation contributes to data-driven insights as the technology used to automate processes can deliver a large volume of data, which can be used for performance improvement and optimization. With each step, automated systems collect data on the working of the process and use the information to improve the same process, which increases throughput and reduces the workload on healthcare professionals. Globally, automation systems to detect BSIs are increasingly being adopted due to their wide array of features and advantages. Automation in the workflow for these tests is reducing the turnaround time. Automated blood collection equipment is being increasingly used in experiments, such as for the identification of HIV and the Zika virus. The efficiency and effectiveness of these systems will encourage their adoption during the forecast period, thereby driving the market growth.

Key Bloodstream Infection Testing Market Challenge

The high cost of instruments will be a major challenge for the global bloodstream infection testing market share growth during the forecast period. Automated BSI testing products such as blood culture test instruments and equipment are generally expensive. The real-time PCR instruments are more expensive than other instruments. The real-time PCR detection systems by BioRad Laboratories cost $8,000-$10,000 and by Applied Biosystems $13,000-$15,000. The blood culture test market is highly impacted by expensive instruments in developing countries than in developed countries due to the lower affordability of people. However, instruments are a one-time investment, the high cost of maintenance of these instruments curbs their demand from hospitals and other end-users. For instance, BACTEC FX by BD costs $21,590, whereas VITEK by Thermo Fisher Scientific is priced at $6,800.Further, highly professional personnel and cutting-edge technology and machinery are required for handling the tests. Thus, setting up a laboratory requires a significant amount of capital, which is often a challenge for individual customers or small-scale laboratories.       

This bloodstream infection testing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global bloodstream infection testing market as a part of the global life sciences tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bloodstream infection testing market during the forecast period.

Who are the Major Bloodstream Infection Testing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Abbott Laboratories
• Accelerate Diagnostics Inc.
• Becton, Dickinson and Co.
• bioMerieux SA
• Bruker Corp.
• Danaher Corp.
• F. Hoffmann La Roche Ltd.
• Grifols SA
• Siemens Healthineers AG
• Thermo Fisher Scientific Inc.

This statistical study of the bloodstream infection testing market encompasses successful business strategies deployed by the key vendors. The bloodstream infection testing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Abbott Laboratories- It is a lightweight, portable and easy to use blood analyzer that delivers diagnostic results in minutes.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The bloodstream infection testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Bloodstream Infection Testing Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the bloodstream infection testing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global life sciences tools and services market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Bloodstream Infection Testing Market?

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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for bloodstream infection testing market in North America. Market growth in this region will be slower than the growth of the market in Asia.

Unmet needs in developing countries will facilitate the bloodstream infection testing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

 The ongoing COVID-19 outbreak is also expected to positively impact the growth of the regional BSI testing market in 2020-2021, owing to the increasing need for blood culture testing for patients with COVID-19 complications. The outbreak, which claimed over 596,003 lives in the US as of June 23, 2021, has prompted vendors to increase production to meet the growing demand.

What are the Revenue-generating Technology Segments in the Bloodstream Infection Testing Market?

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The bloodstream infection testing market share growth by the conventional testing segment will be significant during the forecast period. The low cost, and therefore the high availability of conventional testing standards are reasons for the larger share of the segment. Additionally, the use of BSI testing has surged during the pandemic due to the increasing demand for blood culture tests for the appropriate examination of patients with COVID-19.

This report provides an accurate prediction of the contribution of all the segments to the growth of the bloodstream infection testing market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Bloodstream Infection Testing Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive bloodstream infection testing market growth during the next five years
• Precise estimation of the bloodstream infection testing market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the bloodstream infection testing industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of bloodstream infection testing market vendors

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